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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Penn Treaty American Corporation
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(Name of Issuer)
Common Stock, par value $0.10
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(Title of Class of Securities)
707874103
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(CUSIP Number)
July 2, 2004
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
----------
The information required in 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. 707874103
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC Capital Master Fund, Ltd.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,364,129
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,364,129
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,364,129
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.6%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
--------------------------------------------------------------------------------
CUSIP No. 707874103
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lampe, Conway & Co., LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,478,415
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,478,415
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,478,415
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.9%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
--------------------------------------------------------------------------------
CUSIP No. 707874103
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Steven G. Lampe
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,478,415
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,478,415
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,478,415
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.9%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
--------------------------------------------------------------------------------
CUSIP No. 707874103
---------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Richard F. Conway
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
6,478,415
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
6,478,415
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,478,415
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.9%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
--------------------------------------------------------------------------------
CUSIP No. 707874103
---------------------
Item 1(a). Name of Issuer:
Penn Treaty American Corporation
--------------------------------------------------------------------
(b). Address of Issuer's Principal Executive Offices:
3440 Lehigh Street
Allentown, PA 18103
--------------------------------------------------------------------
Item 2(a). Name of Person Filing:
LC Capital Master Fund, Ltd.
Lampe, Conway & Co., LLC
Steven G. Lampe
Richard F. Conway
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(b). Address of Principal Business Office, or if None, Residence:
LC Capital Master Fund, Ltd.
c/o Trident Fund Services (B.V.I.) Limited
P.O. Box 146
Waterfront Drive
Wickhams Cay
Road Town, Tortola
British Virgin Islands
Lampe, Conway & Co., LLC
Steven G. Lampe
Richard F. Conway
680 Fifth Avenue
Suite 1202
New York, New York 10019
--------------------------------------------------------------------
(c). Citizenship:
LC Capital Master Fund, Ltd. - Cayman Islands exempted company
Lampe, Conway & Co., LLC - Delaware limited liability company
Steven G. Lampe - United States
Richard F. Conway - United States
--------------------------------------------------------------------
(d). Title of Class of Securities:
Common Stock, par value $0.10
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(e). CUSIP Number:
707874103
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Item 3. If This Statement is filed pursuant to ss.240.13d-1(b) or
240.13d-2(b), or (c), check whether the person filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act
(15 U.S.C. 78c).
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C.
78c).
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act (15 U.S.C. 78c).
(d) [_] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [_] An investment adviser in accordance with s.240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
s.240.13d-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 (12 U.S.C.1813);
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [_] Group, in accordance with s.240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
(a) Amount beneficially owned:
LC Capital Master Fund, Ltd. - 6,364,129
Lampe, Conway & Co., LLC - 6,478,415
Steven G. Lampe - 6,478,415
Richard F. Conway - 6,478,415
---------------------------------------------------------------------
(b) Percent of class:
LC Capital Master Fund, Ltd. - 15.6%
Lampe, Conway & Co., LLC - 15.9%
Steven G. Lampe - 15.9%
Richard F. Conway - 15.9%
---------------------------------------------------------------------
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
Not Applicable
(ii) Shared power to vote or to direct the vote
LC Capital Master Fund, Ltd. - 6,364,129
Lampe, Conway & Co., LLC - 6,478,415
Steven G. Lampe - 6,478,415
Richard F. Conway - 6,478,415
(iii) Sole power to dispose or to direct the disposition of
Not Applicable
(iv) Shared power to dispose or to direct the disposition of
LC Capital Master Fund, Ltd. - 6,364,129
Lampe, Conway & Co., LLC - 6,478,415
Steven G. Lampe - 6,478,415
Richard F. Conway - 6,478,415
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
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
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
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.
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.
LC Capital Master Fund, Ltd. *
By: /s/ Richard F. Conway
---------------------
Name: Richard F. Conway
Title: Director
Date: November 4, 2004
Lampe, Conway & Co., LLC*
By: /s/ Richard F. Conway
---------------------
Name: Richard F. Conway
Title: Managing Member
Date: November 4, 2004
/s/ Steven G. Lampe*
---------------------
Name: Steven G. Lampe
Date: November 4, 2004
/s/ Richard F. Conway*
---------------------
Name: Richard F. Conway
Date: November 4, 2004
*The Reporting Persons disclaim beneficial ownership in the shares reported
herein except to the extent of their pecuniary interest therein.
Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13G dated October November 4, 2004
relating to the Common Stock, par value $0.10, of Penn Treaty America
Corporation, Inc. shall be filed on behalf of the undersigned.
LC Capital Master Fund, Ltd. *
By: /s/ Richard F. Conway
---------------------
Name: Richard F. Conway
Title: Director
Date: November 4, 2004
Lampe, Conway & Co., LLC*
By: /s/ Richard F. Conway
---------------------
Name: Richard F. Conway
Title: Managing Member
Date: November 4, 2004
/s/ Steven G. Lampe*
---------------------
Name: Steven G. Lampe
Date: November 4, 2004
/s/ Richard F. Conway*
---------------------
Name: Richard F. Conway
Date: November 4, 2004
*The Reporting Persons disclaim beneficial ownership in the shares reported
herein except to the extent of their pecuniary interest therein.
02979.0001 #520774