UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.1)*
BIO-IMAGING TECHNOLOGIES, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.00025 PER SHARE
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(Title of Class of Securities)
09056N103000
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(CUSIP Number)
Daniel R Posilovich, 1729 So Douglass Rd, Ste C Anaheim, CA 92806
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 11, 2003
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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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 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 Rule
240.13d-7 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 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).
CUSIP NO. 09056N103000
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Daniel R Posilovich
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
PF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
NUMBER OF
431,500
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
431,500
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
431,500
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN-Individual
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Explanatory Note: This Schedule 13D is being filed to report sales by the
Reporting Person resulting in beneficial ownership of common stock of
Bio-Imaging Technologies, Inc. of less than 5% of the outstanding common stock
of such corporation.
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ITEM 1. SECURITY AND ISSUER
This statement relates to the Common Stock, $.00025, par value
("Common Stock") of Bio-Imaging Technologies, Inc. The principal
executive offices of the Issuer are presently located at 826 Newton
-Yardley Road, Newton, Pennsylvania 18940-1721.
ITEM 2. IDENTITY AND BACKGROUND
The Reporting Person is Daniel R Posiloich. His principal business
and office are at 1729 So Douglass Rd, Ste C Anaheim, CA 92806.
During the last five (5) years, Daniel R Posilovich has not been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
During the last five (5) years, Daniel R Posilovich has not been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such person was or is
subject to a judgment, decree or final order enjoining final
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
None
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Person sold shares of common stock. Periodically, the
Reporting Person sells a portion of his holdings in the Issuer at a
time and in an amount consistent with prudent investment guidelines
in an effort to maintain balance and diversification for his
portfolios.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As of August 11, 2003, the Reporting Person had an interest in the
Securities of the Issuer as follows:
Name: Daniel R Posilovich
No. of Shares: 431,500
Voting Power: Sole
Disposition Power: Sole
Aggregate Percentage Beneficially Owned*: 4.8%
*Based upon 8,812,852 shares of Common Stock outstanding as reported
in the Issuer's Form 10-QSB for the quarter ended June 30, 2003.
During the past sixty (60) days, the Reporting Person sold 151,000
shares of Common Stock at an average price per share of $7.25.
All shares of Common Stock were sold in open market transactions.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO THE SECURITIES OF THE ISSUER.
Except as set forth elsewhere in this Schedule 13D, there are no
contracts, arrangements, understandings or relationships among the
Reporting Person and any other person with respect to any securities
of the Issuer, including but not limited to the transfer of voting of
any securities, finder's fees, joint ventures, loan or option agreements,
puts or calls, guarantees of profits, division of profits or loss, or the
giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None
SIGNATURES
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.
Dated: September 11, 2003
By: /s/ Daniel R Posilovich
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Name: Daniel R Posilovich
Title: Individual Shareholder