UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Meadow Valley Corporation
------------------------------
(Name of Issuer)
Common Stock, $0.001 par value
------------------------------
(Title of Class of Securities)
583185103
--------------
(CUSIP Number)
Thomas J. Morgan, Esq.
Lewis and Roca, LLP
40 N. Central Avenue
Phoenix, Arizona 85003
(602) 262-5712
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 15, 2005
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously field a statement of Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this coverage 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).
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CUSIP NO. 583185103 Page 2 of 15 Pages
--------------------- ------------------
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
P2SA Equity, LLC (1), 88-0489850
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO - Shares contributed by members upon formation
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
79,500
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 79,500
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
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14 TYPE OF REPORTING PERSON*
OO - Limited Liability Company
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(1) Greg J. Paulk as trustee of the Greg Jesse Paulk Trust, Dated 1/23/1998,
the sole managing member of P2SA Equity LLC, has sole voting and
dispositive power over all shares held by P2SA Equity LLC. Mr. Paulk
disclaims beneficial ownership of shares held by P2SA Equity LLC except for
shares beneficially held by the Greg Jesse Paulk Trust, Dated 1/23/1998
through its member interest in P2SA Equity LLC.
(2) As a result of recent sales, P2SA Equity, LLC holds less than 5% of the
issuer's outstanding common stock. See Item 5(e).
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CUSIP NO. 583185103 Page 3 of 15 Pages
--------------------- ------------------
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Greg Jesse Paulk Trust, Dated 1/23/1998
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
--------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, AF
--------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO - Trust
--------------------------------------------------------------------------
(1) Greg Jesse Paulk Trust, Dated 1/23/1998 beneficially owns 45,315 shares
through its ownership of P2SA Equity LLC.
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CUSIP NO. 583185103 Page 4 of 15 Pages
--------------------- ------------------
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ryan Joey Paulk Trust, Dated 10/22/1997
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, AF
--------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITZENSHIP OR PLACE OF ORGANIZATION
Nevada
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7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO - Trust
--------------------------------------------------------------------------
(1) Ryan Joey Paulk Trust, Dated 10/22/1997 beneficially owns 23,850 shares
through its ownership of P2SA Equity LLC.
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CUSIP NO. 583185103 Page 5 of 15 Pages
--------------------- ------------------
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Brady Stevens Trust, Dated 10/22/1997
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
--------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, AF
--------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------
6 CITZENSHIP OR PLACE OF ORGANIZATION
Nevada
--------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO - Trust
--------------------------------------------------------------------------
(1) Brady Stevens Trust, Dated 10/22/1997 beneficially owns 7,950 shares
through its ownership of P2SA Equity LLC.
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CUSIP NO. 583185103 Page 6 of 15 Pages
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1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
New-Com, Inc., 88-0195236
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------
(1) New-Com, Inc. beneficially owns 795 shares through its ownership of P2SA
Equity LLC.
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CUSIP NO. 583185103 Page 7 of 15 Pages
--------------------- ------------------
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Joseph and Danielle Hatton
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, AF
--------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------
6 CITZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------
(1) Joseph Hatton beneficially owns 795 shares through his ownership of P2SA
Equity LLC.
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CUSIP NO. 583185103 Page 8 of 15 Pages
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1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael and Janell Cassell Family Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
--------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, AF
--------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------
6 CITZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
---------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500 (1)
--------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.22%
--------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO - Trust
--------------------------------------------------------------------------
(1) Michael and Janell Cassell Family Trust beneficially owns 795 shares
through its ownership of P2SA Equity LLC.
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CUSIP NO. 583185103 Page 9 of 15 Pages
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ITEM 1. SECURITY AND ISSUER
(a) common stock, $0.001 par value
(b) Meadow Valley Corporation
(c) 4411 South 40th Street
Suite D-11
Phoenix, Arizona 85040
ITEM 2. IDENTITY AND BACKGROUND
The following information relates to P2SA Equity, LLC:
(a) Name: P2SA Equity, LLC
(b) Place of Organization: Nevada
(c) Principal Business: Hold issuer's stock
(d) Principal Office: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities Violation in Last Five Years:
None
The following information relates to Greg Jesse Paulk Trust, Dated January
23, 1998:
(a) Name: Greg Jesse Paulk Trust, Dated 1/23/1998
(b) Place of Organization: Nevada
(c) Principal Business: Manage trust assets
(d) Principal Office: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities in Last Five Years: None
The following information relates to Ryan Joey Paulk Trust:
(a) Name: Ryan Joey Paulk Trust, Dated 10/22/1997
(b) Place of Organization: Nevada
(c) Principal Business: Manage trust assets
(d) Principal Office: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities in Last Five Years: None
The following information relates to Brady Stevens Trust, Dated 10/22/1997:
(a) Name: Brady Stevens Trust, Dated 10/22/1997
(b) Place of Organization: Nevada
(c) Principal Business: Manage trust assets
(d) Principal Office: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities in Last Five Years: None
--------------------- -------------------
CUSIP NO. 583185103 Page 10 of 15 Pages
--------------------- -------------------
The following information relates to New-Com, Inc.:
(a) Name: New-Com, Inc.
(b) Place of Organization: Nevada
(c) Principal Business: Holding company for corporations engaged in
construction business.
(d) Business Address: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities Violation in Last Five Years:
None
The following information relates to Joseph Hatton:
(a) Name: Joseph Hatton
(b) Business Address: 412 East Gowan Road, North Las Vegas, Nevada 89032
(c) Occupation: Employee
Employer: New-Com, Inc., 412 East Gowan Road, North Las Vegas, Nevada
89032 Principal Business: Construction business.
(d) Criminal Convictions in Last Five Years: None
(e) Civil Proceedings Regarding Securities Violation in Last Five Years:
None
(f) Citizenship: United States
The following information relates to Michael and Janell Cassell Family
Trust:
(a) Name: Michael and Janell Cassell Family Trust
(b) Place of Organization: Nevada
(c) Principal Business: Manage trust assets
(d) Principal Office: 412 East Gowan Road, North Las Vegas, Nevada 89032
(e) Criminal Convictions in Last Five Years: None
(f) Civil Proceedings Regarding Securities in Last Five Years: None
--------------------- -------------------
CUSIP NO. 583185103 Page 11 of 15 Pages
--------------------- -------------------
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Legal title to all shares is held by P2SA Equity LLC. All other filing
persons hold indirect ownership of stated amounts of shares as members of P2SA
Equity LLC. P2SA Equity LLC acquired all shares as a capital contribution upon
its formation.
ITEM 4. PURPOSE OF TRANSACTION
The shares originally were acquired through market transactions in the
ordinary course for investment purposes. After initial acquisition, all shares
were contributed to P2SA Equity LLC upon its formation. The reporting persons
may acquire or dispose of additional shares in the open market, in private
transactions or otherwise depending on various factors, including general market
and industry conditions, and the issuer's financial condition and results of
operation. The reporting persons will continue to review their holdings and the
factors set forth above and may consider certain types of transactions set forth
in paragraphs (a) through (j) of Item 4 of Schedule 13D. No such transactions
are currently contemplated.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a)(b) Shares Owned:
Shares
Beneficially
Reporting Person Owned (1) Percentage
---------------- --------- ----------
Greg Jesse Paulk Trust, Dated 1/23/1998 45,315 1.27%
Ryan Joey Paulk Trust, Dated 10/22/1997 23,850 0.67%
Brady Stevens Trust, Dated 10/22/1997 7,950 0.22%
New-Com, Inc. 795 0.02%
Joseph and Danielle Hatton 795 0.02%
Michael and Janell Cassell Family Trust 795 0.02%
------- -----
79,500 2.22%
(1) Legal title to all shares held by P2SA Equity LLC. Greg J. Paulk as trustee
of the Greg Jesse Paulk Trust, Dated 1/23/1998, the sole managing member of
P2SA Equity LLC, has sole voting and dispositive power over all shares held
by P2SA Equity LLC.
(c) Transactions Within Past 60 Days:
Date Transaction
---- -----------
2/14/05 Sold 17,700 Shares
2/18/05 Sold 14,500 Shares
2/22/05 Sold 50,400 Shares
3/01/05 Sold 36,000 Shares
3/02/05 Sold 64,700 Shares
--------------------- -------------------
CUSIP NO. 583185103 Page 12 of 15 Pages
--------------------- -------------------
3/03/05 Sold 12,100 Shares
3/04/05 Sold 6,700 Shares
3/15/05 Sold 40,000 Shares
3/16/05 Sold 61,000 Shares
(d) Not applicable.
(e) March 15, 2005.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITY OF THE ISSUER
P2SA Equity, LLC was formed to hold issuer's shares. All other reporting
persons are members of P2SA Equity LLC; the Greg Jesse Paulk Trust is the
managing member.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Joint Filing Statement
--------------------- -------------------
CUSIP NO. 583185103 Page 13 of 15 Pages
--------------------- -------------------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk, Individually and as
trustee of the Greg Jesse Paulk
Trust, Dated 1/23/1998, on behalf of
the trust and as managing member of
P2SA Equity LLC
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk as attorney-in-fact
for Ryan Paulk, Trustee of the Ryan
Joey Paulk Trust, Dated 10/22/1997
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk as attorney-in-fact
for Brady Stevens, Trustee of the
Brady Stevens Trust, Dated
10/22/1997
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk,
Chief Executive Officer,
New-Com, Inc.
--------------------- -------------------
CUSIP NO. 583185103 Page 14 of 15 Pages
--------------------- -------------------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk as attorney-in-fact for
Joseph Hatton
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
March 23, 2005 /s/ Greg J. Paulk
------------------- ------------------------------------
Date Greg J. Paulk as attorney-in-fact
for Janell Cassell, Trustee of the
Michael and Janell Cassell Family Trust