SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)
ELMER'S RESTAURANTS, INC
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
2893932
--------------------------------------------------------------------------------
(CUSIP Number)
JEFFREY C. WOLFSTONE, ESQ.
GREGORY L. ANDERSON, ESQ.
LANE POWELL SPEARS LUBERSKY LLP
601 S.W. SECOND AVENUE, SUITE 2100
PORTLAND, OREGON 97204-3158
(503) 778-2100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
NOVEMBER 4, 2004
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box
|_|.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(continued on following pages)
1
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CUSIP No. 289393 13D Page 2 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Linda Ellis-Bolton
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -84,847- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-84,847- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 84,847
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.6%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
2
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CUSIP No. 289393 13D Page 3 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Karen K. Brooks
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -91,062- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-91,062- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 91,062
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 5.0%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
3
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CUSIP No. 289393 13D Page 4 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Richard P. Buckley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -84,278- shares
REPORTING PERSON
WITH
---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-84,278- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 84,278
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.6%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
4
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CUSIP No. 289393 13D Page 5 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Thomas C. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -55,688- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-55,688- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 55,688
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 3.0%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
5
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CUSIP No. 289393 13D Page 6 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
David D. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -78,423- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-78,423- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 78,423
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.3%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
6
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CUSIP No. 289393 13D Page 7 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Stephanie M. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -39,212- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-39,212- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 39,212
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 2.1%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
7
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CUSIP No. 289393 13D Page 8 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Bruce N. Davis
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -145,603- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-145,603- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 145,603
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 7.6%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
8
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CUSIP No. 289393 13D Page 9 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Corydon H. Jensen
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -101,323- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-101,323- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 101,323
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 5.5%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
9
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 10 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Douglas A. Lee
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -16,595- shares
REPORTING PERSON
WITH
---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-16,595- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 16,595
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.9%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
10
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 11 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Debra A. Woolley Lee
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -16,594- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-16,594- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 16,594
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.9%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
11
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 12 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
David Mann
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -89,062- shares
REPORTING PERSON
WITH
---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-89,062- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 89,062
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.9%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
12
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CUSIP No. 289393 13D Page 13 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Sheila J. Schwartz
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -84,847- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-84,847- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 84,847
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.6%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
13
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 14 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Gerald A. Scott
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -40,804- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-40,804- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 40,804
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 2.2%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
14
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 15 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
William W. Service
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -148,992- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-148,992- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 148,992
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 7.8%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
15
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 16 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Dennis M. Waldron
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -2,000- shares
REPORTING PERSON
WITH
---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-2,000- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,000
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.1%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
16
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 17 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Gary N. Weeks
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -108,421- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-108,421- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 108,421
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 5.9%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
17
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 18 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Greg Wendt
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -5,000- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-5,000- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 5,000
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.3%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
18
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 19 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Richard C. Williams
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -34,092- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-34,092- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 34,092
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 1.8%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
19
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 20 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Dolly W. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -39,212- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-39,212- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 39,212
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 2.1%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
20
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 21 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Donald W. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -55,687- shares
REPORTING PERSON
WITH
---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-55,687- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 55,687
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 3.0%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
21
--------------------------------------------------------------------------------
CUSIP No. 289393 13D Page 22 of 31 Pages
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Donna P. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----------- --------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------------- ---------- -------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -15,685- shares
REPORTING PERSON
WITH ---------- -------------------------
8 SHARED VOTING POWER
-0- shares
---------- -------------------------
9 SOLE DISPOSITIVE POWER
-15,685- shares
---------- -------------------------
10 SHARED DISPOSITIVE POWER
-0- shares
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 15,685
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES |_|
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.9%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----------- --------------------------------------------------------------------
22
SCHEDULE 13D/A STATEMENT
This Amendment No. 2 amends and restates the statement on Schedule 13D
filed on August 6, 2004, as amended by Amendment No. 1 filed on August 9, 2004
(such filings collectively, the "Original Schedule 13D"), by Linda Ellis-Bolton,
Karen K. Brooks, Richard P. Buckley, David D. Connor, Thomas C. Connor, Bruce N.
Davis, Franklin Holdings, LLC, Corydon H. Jensen, Jr., Douglas A. Lee, David C.
Mann, Sheila J. Schwartz, Gerald A. Scott, William W. Service, Dennis M.
Waldron, Gary N. Weeks, Greg Wendt, Richard C. Williams, Daniel G. Woolley,
Donald W. Woolley and Donna P. Woolley. Exhibit B to the Original 13D is hereby
incorporated by this reference.
ITEM 1. SECURITY AND ISSUER
This statement relates to shares of no par value common stock (the
"Common Stock") of Elmer's Restaurants, Inc., an Oregon corporation (the
"Company"). The principal executive offices of the Company are located at 11802
S.E. Stark Street, Portland, Oregon 97216.
ITEM 2. IDENTITY AND BACKGROUND.
This statement of beneficial ownership on Schedule 13D/A is being filed
jointly by Linda Ellis-Bolton, Karen K. Brooks, Richard P. Buckley, David D.
Connor, Stephanie M. Connor, Thomas C. Connor, Bruce N. Davis, Corydon H.
Jensen, Jr., Debra A. Woolley Lee, Douglas A. Lee, David C. Mann, Sheila J.
Schwartz, Gerald A. Scott, William W. Service, Dennis M. Waldron, Gary N. Weeks,
Greg Wendt, Richard C. Williams, Dolly W. Woolley, Donald W. Woolley and Donna
P. Woolley (each a "Reporting Person" and collectively, the "Reporting Persons")
pursuant to Rule 13d-1(k) promulgated by the Securities and Exchange Commission
under Section 13 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). The Reporting Persons are making this single, joint filing
because they may be deemed to constitute a "group" within the meaning of Section
13(d)(3) of the Exchange Act with respect to the transaction described in Item 4
of this statement. Each Reporting Person disclaims beneficial ownership of the
shares of Common Stock beneficially owned by any other Reporting Person or any
other person. The agreement between the Reporting Persons relating to the joint
filing of this statement is attached hereto as Exhibit A.
Information with respect to each of the Reporting Persons is given
solely by such Reporting Person, and no Reporting Person assumes responsibility
for the accuracy or completeness of the information concerning the other
Reporting Persons, except as otherwise provided in Rule 13d-1(k).
o Linda Ellis-Bolton, a United States citizen, is an independent
investor. The business address for Ms. Ellis-Bolton is 125 Tom Morris
Lane, Enterprise, Alabama 36330.
o Karen K. Brooks, a United States citizen, is an independent investor.
The business address for Ms. Brooks is 700 Delany Woods, Nicholasville,
Kentucky 40356.
o Richard P. Buckley, a United States citizen, is an independent real
estate investor. From 1999 to 2002, Mr. Buckley served as the President
of Cooper's Inc. The business address for Mr. Buckley is 14450 Quaker
Hill Cross Road, Nevada City, California 95959.
o David D. Connor, a United States citizen, is a real estate executive
and independent investor. Since 1976, Mr. Connor has served as Vice
President of 5 C's Properties, Inc. The business address for Mr. Connor
is c/o Franklin Holdings, LLC, 1399 Franklin Boulevard, Eugene, Oregon
97405.
o Stephanie M. Connor, a United States citizen, is an independent
investor. The business address for Ms. Connor is c/o Franklin Holdings,
LLC, 1399 Franklin Boulevard, Eugene, Oregon 97405.
o Thomas C. Connor, a United States citizen, has been a real estate
investor since 1974, with investments in several companies engaged in
the hospitality or real estate development businesses. Since 1973, Mr.
Connor has served as President of Connor Enterprises, Inc. Mr. Connor
has also served as a director of numerous privately held companies
engaged in the hospitality or real estate development businesses. He
23
has served as a director of Elmer's since 1998. He is also a director
of ERI Acquisition Corp. The business address for Mr. Connor is c/o
Elmer's Restaurant, Inc., 11802 S.E. Stark Street, Portland, Oregon
97216.
o Bruce N. Davis, a United States citizen, has served as the President
and Chairman of Board of Directors of Elmer's since August 1998 and as
Chief Executive Officer of Elmer's since November 2002. For more than
five years prior to joining Elmer's, Mr. Davis was president of three
companies engaged in the restaurant business: Jaspers Food Management,
Inc. (1993-present), CBW, Inc. (1995-1999), and Oregon Food Management,
Inc. (1996-present). He is also a director of ERI Acquisition Corp. The
business address for Mr. Davis is c/o Elmer's Restaurant, Inc., 11802
S.E. Stark Street, Portland, Oregon 97216.
o Corydon H. Jensen, Jr., a United States citizen, is the president and
owner of several multi-unit restaurant and lounge operations, including
The Oregon Electric Station Restaurant, Steelhead Brewery, Station
Masters, Inc. and McKenzie Brewery Co. Mr. Jensen served as a director
of Centennial Bancorp for over twenty years prior to its merger with
Umpqua Holding, Inc. Mr. Jensen also serves as director for several
privately held companies engaged in the restaurant and lounge business.
He has served as a director of Elmer's since 1998. He is also a
director of ERI Acquisition Corp. The business address for Mr. Jensen
is 11802 S.E. Stark Street, Portland, Oregon 97216.
o Douglas A. Lee, a United States citizen, is a real estate executive and
independent investor. Since 1986, Mr. Lee has served as the president
and director of Lee Construction Company. The business address for Mr.
Lee is c/o Franklin Holdings, LLC, 1399 Franklin Boulevard, Eugene,
Oregon 97405.
o David C. Mann, a United States citizen, is an independent investor. The
business address for Mr. Mann is 1980 Indian Trail, Lake Oswego, Oregon
97034.
o Sheila J. Schwartz, a United States citizen, is an independent
investor. The business address for Mrs. Schwartz is 2390 Lariat Dr.,
Eugene, Oregon 97405.
o Gerald A. Scott, a United States citizen, has served as Vice President
of Elmer's since August 1998. Prior to that, and since November 1995,
Mr. Scott served as Vice President of Operations for Jaspers Food
Management, Inc. He served from November 1994 to November 1995 as
Regional Director of Operations of Macheezmo Mouse Restaurants, Inc.
The business address for Mr. Scott is c/o Elmer's Restaurant, Inc.,
11802 S.E. Stark Street, Portland, Oregon 97216.
o William W. Service, a United States citizen, has been the Chief
Executive Officer of Jasper's Food Management, Inc. since 1993 and
served as the Chief Executive Officer of Elmer's from 1998 until he
resigned in November 2002. For more than five years prior to joining
Elmer's, Mr. Service was the Chief Executive Officer of three companies
engaged in the restaurant business: Jaspers Food Management, Inc,
(1993-present), CBW, Inc. (1995-1999) and Oregon Food Management, Inc.
(1996-present). Mr. Service has served as a director of Elmer's since
1998. He is also a director of ERI Acquisition Corp. The business
address for Mr. Service is 11802 S.E. Stark Street, Portland, Oregon
97216.
o Dennis M. Waldron, a United States citizen, has served as president of
Ruby's Northwest LLC, the Seattle-based multi-unit franchisee for
Ruby's Diner in Washington state since 1999. From 1987 to 1997, Mr.
Waldron served as President and Chief Executive Officer of Cinnabon
International, Inc. He has served as a director of Elmer's since 2003.
He is also a director of ERI Acquisition Corp. The business address for
Mr. Waldron is 11802 S.E. Stark Street, Portland, Oregon 97216.
o Gary N. Weeks, a United States citizen, is an entrepreneur from Grass
Valley, California. The business address for Mr. Weeks is 12966
Pinewoods Road, Nevada City, California 95959.
o Greg Wendt, a United States citizen, is an independent investor. The
business address for Mr. Wendt is 1 Muir Loop, San Francisco,
California 94129.
o Richard C. Williams, a United States citizen, is a retired banker.
Prior to November 2002 he was chairman of Centennial Bancorp. Mr.
Williams also serves as a director of Obie Media. He has served as a
director
24
of Elmer's since 1998. He is also a director of ERI Acquisition Corp.
The business address for Mr. Williams is 11802 S.E. Stark Street,
Portland, Oregon 97216.
o Debra Woolley-Lee, a United States citizen, is a real estate executive
and independent investor. Since 1977, Ms. Woolley-Lee has served as
assistant secretary and director of Eagle's View Management Company,
Inc. The business address for Ms. Woolley-Lee is c/o Franklin Holdings,
LLC, 1399 Franklin Boulevard, Eugene, Oregon 97405.
o Dolly W. Woolley, a United States citizen, is an independent investor.
The business address for Ms. Woolley is c/o Franklin Holdings, LLC,
1399 Franklin Boulevard, Eugene, Oregon 97405.
o Donald W. Woolley, a United States citizen, is a real estate executive
and independent investor. Since 1984, Mr. Wooely has served as the
Executive Vice President and director of Eagle's View Management
Company, Inc. Mr. Woolley has also served as a director of numerous
privately held companies engaged in the hospitality, timber and real
estate development industries. He has served as a director of Elmer's
since 1998. He is also a director of ERI Acquisition Corp. The business
address for Mr. Wooley is 11802 S.E. Stark Street, Portland, Oregon
97216.
o Donna P. Woolley, a United States citizen, is a real estate executive
and independent investor. Since 1980, Ms. Woolley has served as
President of Eagle's View Management Company, Inc. The business address
for Ms. Woolley is c/o Franklin Holdings, LLC, 1399 Franklin Boulevard,
Eugene, Oregon 97405.
None of the Reporting Persons have been, during the past five years, (i)
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction that had the result of such person
being subject to judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
It is anticipated that funding for the proposed transaction described
in Item 4 will be obtained through third party debt financing currently being
negotiated by the Reporting Persons that, together with other funds available to
the Reporting Persons, will be sufficient to consummate any such transaction. To
the extent any amounts are due or may be paid by the Acquisition Company (as
defined in Item 4 below) or the surviving corporation in connection with any
such financing following the consummation of the merger described in Item 4
below (for example, funds necessary to consummate the merger and certain
transaction fees and expenses), such funds may be paid from generally available
working capital of the surviving corporation.
The Reporting Persons are in negotiations with General Electric Capital
Franchise Finance Corporation ("GE Capital") to provide financing for the
Acquisition (as that term is defined in Item 4 below). In addition, the
Reporting Persons are exploring alternative financing arrangements with other
parties in the event the Reporting Persons are unable to negotiate satisfactory
financing arrangements with GE Capital.
The Acquisition Company intends to repay any amounts borrowed in
connection with the Acquisition (from GE Capital or any other party) through the
generally available corporate funds of the surviving corporation after the
consummation of the merger.
Financing for the Acquisition remains subject to negotiating definitive
agreements and the Reporting Persons have no assurances that they will be able
to negotiate definitive agreements or obtain a loan from GE Capital or any other
lender on terms acceptable to the Reporting Persons.
ITEM 4. PURPOSE OF TRANSACTION
On August 5, 2004, Mr. Davis, on behalf of the Reporting Persons,
submitted a non-binding proposal (the "Proposal"), for a going private
transaction to the Company's Board of Directors that, as of November 18, 2004,
the
25
Reporting Persons remain interested in pursuing. Under the Proposal, the
Reporting Persons propose to acquire, through a corporation to be formed
("Acquisition Company"), all of the outstanding shares of the Company's Common
Stock not currently owned by the Reporting Persons for a price per share of
$7.50 payable in cash (the "Acquisition"). The Reporting Persons expect that the
Acquisition would be effected through a two-step transaction consisting of (i) a
cash tender offer for no less than 90% of the Company's Common Stock or such
lesser amount as the Reporting Persons agree (the "Tender Offer") and (ii) a
subsequent merger in which the Acquisition Company would merge with and into the
Company (with the Company as the surviving entity) and in which any remaining
shareholders of the Company who did not participate in the Tender Offer would
receive the same consideration in the merger as was paid to shareholders
participating in the Tender Offer.
The Reporting Persons are the holders of approximately 64% of the
Company's Common Stock. Mr. Davis is the Chairman of the Board, President and
Chief Executive Officer of the Company, Mr. Service is a director and the former
Chief Executive Officer of the Company, Mssrs. Jensen, Connor, Waldron, and
Williams and Woolley are directors of the Company, Mr. Scott is a Vice President
of the Company, and the remainder of the Reporting Persons are current
shareholders of the Company.
The Proposal is subject to a number of conditions, including, among
other things (i) a financing contingency (which the Reporting Persons may
waive), (ii) a non-waivable condition requiring that a majority of the Company's
shareholders (excluding, for this purpose, all Reporting Persons and their
affiliates) tender their shares, (iii) a condition (which may only be waived by
the Acquisition Company) requiring that the Acquisition Company, immediately
following the completion of the Tender Offer, hold at least 90% of the Company's
Common Stock (inclusive of the Common Stock held by all of the Reporting
Persons); and (iv) obtaining any necessary regulatory approvals. The Reporting
Persons have no assurances that any or all of the foregoing conditions can or
will be satisfied or waived (with respect to those conditions that are
waivable).
Neither the Company nor any of the Reporting Persons are obligated to
pursue or to complete the Acquisition. The Reporting Persons reserve the right
to modify their proposal in any way as a result of negotiations or to withdraw
the Proposal at any time.
If the proposed Acquisition is completed, the Common Stock would become
eligible for termination of registration pursuant to Section 12(g) of the
Securities Act and the Common Stock would be delisted from NASDAQ.
Except as indicated above, none of the Reporting Persons have any plans
or proposals that relate to or would result in any other action specified in
clauses (a) through (j) of Item 4 on Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a), (b) The following table sets forth the beneficial ownership of
shares of Common Stock of the Company for each person named in Item 2. Each
Reporting Person disclaims beneficial ownership of all shares of Common Stock
beneficially owned by the other Reporting Persons in accordance with Rule 13d-4
under the Act.
Amount Shared Voting Sole Shared
Name of Reporting Person Beneficially Percentage of Sole Voting Power Dispositive Dispositive
Owned(1) Class(2) Power Power Power
Linda Ellis-Bolton 84,847 4.6% 84,847 -0- 84,847 -0-
Karen Brooks 91,062 5.0% 91,062 -0- 91,062 -0-
Richard Buckley 84,278 4.6% 84,278 -0- 84,278 -0-
David D. Conner 78,423 4.3% 78,423 -0- 78,423 -0-
Stephanie M. Connor 39,212 2.1% 39,212 -0- 39,212 -0-
Thomas C. Connor 55,688 3.0% 55,688 -0- 55,688 -0-
Bruce N. Davis 145,603 7.6% 145,603 -0- 145,603 -0-
Corydon H. Jensen 101,323 5.5% 101,323 -0- 101,323 -0-
Douglas A. Lee 16,595 0.9% 16,595 -0- 16,595 -0-
Debra A. Woolley Lee 16,594 0.9% 16,594 -0- 16,594 -0-
David Mann 89,062 4.9% 89,062 -0- 89,062 -0-
Sheila Schwartz 84,847 4.6% 84,847 -0- 84,847 -0-
Gerald Scott 40,804 2.2% 40,804 -0- 40,804 -0-
William W. Service 148,992 7.8% 148,992 -0- 148,992 -0-
26
Dennis M. Waldron 2,000 0.1% 2,000 -0- 2,000 -0-
Gary Weeks 108,421 5.9% 108,421 -0- 108,421 -0-
Greg Wendt 5,000 0.3% 5,000 -0- 5,000 -0-
Richard Williams 34,092 1.8% 34,092 -0- 34,092 -0-
Dolly W. Woolley 39,212 2.1% 39,212 -0- 39,212 -0-
Donald W. Woolley 55,687 3.0% 55,687 -0- 55,687 -0-
Donna P. Woolley 15,685 0.9% 15,685 -0- 15,685 -0-
(1) Includes options to purchase common stock exercisable
within 60 days from November 19, 2004. The number of shares that each person
named in this table has a right to acquire is as follows: Mr. Thomas C. Connor,
16,476; Mr. Davis, 78,829; Mr. Jensen, 16,476; Mr. Scott, 25,121; Mr. Service,
79,229; Mr. Waldron, 2,000; Mr. Williams, 16,476; and Mr. Donald W. Woolley,
16,476.
(2) Based on 1,833,083 shares of Common Stock deemed
outstanding as of October 11, 2004 (as reported on the Form 10-Q filed November
18, 2004) as adjusted for each Reporting Person to include outstanding options
outstanding exercisable for each Reporting Person (and only with respect to such
Reporting Person) within sixty days of November 19, 2004.
(c) Except as indicated otherwise in the table below, none of the
Reporting Persons has effected any transaction in the Company's Common Stock
during the past 60 days.
Name of Reporting Person Date of Amount of Securities Price Per Where/How the Transaction was Effected
Transaction Involved Share
Richard Buckley June 30, 2004 400 $6.70 Open Market/Broker's Transaction
Richard Buckley July 1, 2004 34 $6.70 Open Market/Broker's Transaction
Richard Buckley July 2, 2004 1,566 $6.70 Open Market/Broker's Transaction
Gary N. Weeks July 14, 2004 1,000 $6.603 Open Market/Broker's Transaction
Thomas C. Connor November 4, 2004 39,212 N/A Pro-rata distribution by Franklin
Holdings, LLC
Stephanie M. Connor November 4, 2004 39,212 N/A Pro-rata distribution by Franklin
Holdings, LLC
David D. Connor November 4, 2004 78,423 N/A Pro-rata distribution by Franklin
Holdings, LLC
Debra A. Lee November 4, 2004 15,684 N/A Pro-rata distribution by Franklin
Holdings, LLC
Douglas A. Lee November 4, 2004 15,685 N/A Pro-rata distribution by Franklin
Holdings, LLC
Donald W. Woolley November 4, 2004 39,212 N/A Pro-rata distribution by Franklin
Holdings, LLC
Donna P. Woolley November 4, 2004 15,685 N/A Pro-rata distribution by Franklin
Holdings, LLC
Dolly W. Woolley November 4, 2004 39,212 N/A Pro-rata distribution by Franklin
Holdings, LLC
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
To the best knowledge of the Reporting Persons, there are no other
contracts, arrangements, understandings or relationships (legal or otherwise)
among the Reporting Persons and between any of the Reporting Persons and any
other person with respect to any securities of the Company, joint ventures, loan
or option arrangements, puts or calls, guarantees of profits, divisions of
profits or loss, or the giving or withholding of proxies, or a pledge or
contingency, the occurrence of which would give another person voting power over
the securities of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: Joint Filing Agreement dated November 19, 2004, by
and between the Reporting Persons.
Exhibit B: Proposal to Company dated August 5, 2004 (Exhibit B
to the Original 13D filed on August 6, 2004 is hereby
incorporated by reference.)
27
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: November 19, 2004
/s/ Linda E. Bolton
-----------------------------------------
Linda E. Bolton
/s/ Karen K. Brooks
-----------------------------------------
Karen Brooks
/s/ Richard P. Buckley
-----------------------------------------
Richard Buckley
/s/ David D. Connor
-----------------------------------------
David D. Connor
/s/ Stephanie M. Connor
-----------------------------------------
Stephanie M. Connor
/s/ Thomas C. Connor
-----------------------------------------
Thomas C. Connor
/s/ Bruce N. Davis
-----------------------------------------
Bruce N. Davis
/s/ Corydon H. Jensen
-----------------------------------------
Corydon H. Jensen
/s/ Debra A. Woolley Lee
-----------------------------------------
Debra A. Woolley Lee
/s/ Douglas A. Lee
-----------------------------------------
Douglas A. Lee
/s/ David C. Mann
-----------------------------------------
David Mann
/s/ Gerald A. Scott
-----------------------------------------
Gerald Scott
28
/s/ Sheila J. Schwartz
-----------------------------------------
Sheila Schwartz
/s/ William W. Service
-----------------------------------------
William W. Service
/s/ Dennis M. Waldron
-----------------------------------------
Dennis Waldron
/s/ Gary N. Weeks
-----------------------------------------
Gary Weeks
/s/ Greg Wendt
-----------------------------------------
Greg Wendt
/s/ Richard C. Williams
-----------------------------------------
Richard Williams
/s/ Dolly W. Woolley
-----------------------------------------
Dolly W. Woolley
/s/ Donald W. Woolley
-----------------------------------------
Donald W. Woolley
/s/ Donna P. Woolley
-----------------------------------------
Donna P. Woolley
29
Exhibit A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act
of 1934, each of the undersigned parties hereby agree to file jointly the
statement on Schedule 13D (including any amendments thereto) with respect to the
no par value Common Stock of Elmer's Restaurants, Inc.
It is understood and agreed that each of the parties hereto is
responsible for the timely filing of such statement and any amendments thereto,
and for the completeness and accuracy of information concerning such party
contained therein, but such party is not responsible for the completeness and
accuracy of information concerning another party unless such party knows or has
reason to believe such information is inaccurate.
It is understood and agreed that a copy of this agreement shall be
attached as an exhibit to the statement on Schedule 13D, and any amendments
thereto, filed on behalf of the parties hereto.
Dated: November 19, 2004
/s/ Linda E. Bolton
-----------------------------------------
Linda E. Bolton
/s/ Karen K. Brooks
-----------------------------------------
Karen Brooks
/s/ Richard P. Buckley
-----------------------------------------
Richard Buckley
/s/ David D. Connor
-----------------------------------------
David D. Connor
/s/ Stephanie M. Connor
-----------------------------------------
Stephanie M. Connor
/s/ Thomas C. Connor
-----------------------------------------
Thomas C. Connor
/s/ Bruce N. Davis
-----------------------------------------
Bruce N. Davis
/s/ Corydon H. Jensen
-----------------------------------------
Corydon H. Jensen
/s/ Debra A. Woolley Lee
-----------------------------------------
Debra A. Woolley Lee
30
/s/ Douglas A. Lee
-----------------------------------------
Douglas A. Lee
/s/ David C. Mann
-----------------------------------------
David Mann
/s/ Gerald A. Scott
-----------------------------------------
Gerald Scott
/s/ Sheila J. Schwartz
-----------------------------------------
Sheila Schwartz
/s/ William W. Service
-----------------------------------------
William W. Service
/s/ Dennis M. Waldron
-----------------------------------------
Dennis Waldron
/s/ Gary N. Weeks
-----------------------------------------
Gary Weeks
/s/ Greg Wendt
-----------------------------------------
Greg Wendt
/s/ Richard C. Williams
-----------------------------------------
Richard Williams
/s/ Dolly W. Woolley
-----------------------------------------
Dolly W. Woolley
/s/ Donald W. Woolley
-----------------------------------------
Donald W. Woolley
/s/ Donna P. Woolley
-----------------------------------------
Donna P. Woolley
31