SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G/A
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No.3)
Fortune Natural Resources Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
349681106
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(CUSIP Number)
CUSIP No. 349681106 13G Page 2 of 5 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Renaissance Capital Growth & Income Fund III, Inc. 75-2533518
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 1,558,394
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY None
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 1,558,394
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH None
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,558,394
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.25%
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12. TYPE OF REPORTING PERSON*
IV
________________________________________________________________________________
CUSIP No. 349681106 13G Page 3 of 5 Pages
Item 1(a). Name of Issuer:
Fortune Natural Resources Corporation ("Company")
____________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
515 West Greens Road, Suite 720
Houston, TX 77067
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Item 2(a). Name of Person Filing:
Renaissance Capital Growth and Income Fund III, Inc. ("Filer")
____________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
8080 N. Central Expressway
Suite 210, LB-59
Dallas, TX 75206
____________________________________________________________________
Item 2(c). Citizenship:
Texas
____________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock
____________________________________________________________________
Item 2(e). CUSIP Number:
75966V105
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [X] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
CUSIP No. 349681106 13G Page 4 of 5 Pages
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
At May 1, 2002, Renaissance Capital Growth & Income Fund III, Inc.
("Renaissance III"), owned 1,322,394 shares of the Company's common
stock, warrants to purchase 100,000 shares of the Company's common
stock at $1.50 per share on or before March 1, 2003, and warrants to
purchase 100,000 shares of the Company's stock at $2.25 on or before
March 1, 2002. On May 20, 2002, Renaissance III received warrants to
purchase 36,000 shares of the Company's common stock at $0.25 per
share on or before May 19, 2005. Thus, as of May 31, 2002, Renaissance
III owns 1,558,394 shares of the Company's common stock on a fully
converted basis.
The Filer's Investment Adviser is Renaissance Capital Group, Inc.,
which is also Investment Manager for Renaissance US Growth and Income
Trust PLC ("Renaissance US"). Renaissance US also owns securities of
Fortune Natural Resources Corporation.
______________________________________________________________________
(b) Percent of class:
9.25%
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
1,558,394.
(ii) Shared power to vote or to direct the vote
None,
(iii) Sole power to dispose or to direct the disposition of
1,558,394,
(iv) Shared power to dispose or to direct the disposition of
None.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [ ].
_______________________________________________________________________
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not applicable
_______________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
Not applicable
_______________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
Not applicable
_______________________________________________________________________
Item 9. Notice of Dissolution of Group.
Not applicable
______________________________________________________________________
CUSIP No. 349681106 13G Page 5 of 5 Pages
Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having such purpose or effect.
SIGNATURE
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.
June 6, 2002
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(Date)
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(Signature)
Russell Cleveland, President and CEO
Renaissance Capital Growth & Income Fund III, Inc.
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(Name/Title)