SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(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. 4)
Balchem Corporation (BCP)
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(Name of Issuer)
Common Stock, $.06 2/3 Par Value
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(Title of Class of Securities)
123164105
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(CUSIP Number)
December 31, 2002
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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)
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(1) 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 the disclosures provided in a prior cover page.
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 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. 123164105
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Phronesis Partners, L.P.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(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
330,100
6. SHARED VOTING POWER
0
7. SOLE DISPOSITIVE POWER
330,100
8. SHARED DISPOSITIVE POWER
0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
330,100
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.92%
12. TYPE OF REPORTING PERSON*
PN
CUSIP No. 123164105
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
James Wiggins
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(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
330,100
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
330,100
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
330,100
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.92%
12. TYPE OF REPORTING PERSON*
IN, IA
CUSIP No. 123164105
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Item 1(a). Name of Issuer:
Balchem Corporation (BCP)
____________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
P.O. Box 175 Slate Hill, New York 10973
____________________________________________________________________
Item 2(a). Name of Persons Filing:
James Wiggins
Phronesis Partners, L.P.
____________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
197 East Broad Street, Ste. 200
Columbus, OH 43215
____________________________________________________________________
Item 2(c). Citizenship:
Delaware Limited Partnership
____________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock, $.06 2/3 Par Value (the "Common Stock")
____________________________________________________________________
Item 2(e). CUSIP Number:
123164105
____________________________________________________________________
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) [_] 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).
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:
330,100 shares benefically owned by Phonesis Partners, L.P.;
330,100 shares beneficially owned by James Wiggins.
______________________________________________________________________
(b) Percent of class:
6.92% by Phronesis Partners, L.P.; 6.92% by James Wiggins.
______________________________________________________________________
(c) Number of shares as to which such person has:
Phonesis Partners, L.P.:
(i) Sole power to vote or to direct the vote 330,100
_____________________,
(ii) Shared power to vote or to direct the vote 0
_____________________,
(iii) Sole power to dispose or to direct the
disposition of 330,100
_____________________,
(iv) Shared power to dispose or to direct
the disposition of 0
_____________________.
James Wiggins:
(i) Sole power to vote or to direct the vote 0
_____________________,
(ii) Shared power to vote or to direct the vote 330,100
_____________________,
(iii) Sole power to dispose or to direct the
disposition of 0
_____________________,
(iv) Shared power to dispose or to direct
the disposition of 330,100
.. _____________________.
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 [ ].
N/A
______________________________________________________________________
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class,
such person should be identified. A listing of the shareholders of an
investment company registered under the Investment Company Act of 1940 or the
beneficiaries of employee benefit plan, pension fund or endowment fund is not
required.
N/A
______________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company
or Control Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
______________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and
Item 3 classification of each member of the group. If a group has filed this
schedule pursuant to ss.240.13d-1(c) or ss.240.13d-1(d), attach an exhibit
stating the identity of each member of the group.
N/A
______________________________________________________________________
Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating
the date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by
members of the group, in their individual capacity. See Item 5.
N/A
______________________________________________________________________
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 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 that 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.
PHRONESIS PARTNERS, L.P.
/s/ James Wiggins
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James Wiggins
By: /s/ James Wiggins
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JAMES WIGGINS
General Partner
Date: April 29, 2003
Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13G dated April 29, 2003 relating to
the Common Stock par value $0.06 2/3 per share of Balchem Corporation, shall
be filed on behalf of the undersigned.
PHRONESIS PARTNERS, L.P.
By: /s/ James Wiggins
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James Wiggins,
General Partner
/s/ James Wiggins
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James Wiggins
00532.0001 #400821