UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 2) UNDER THE SECURITIES EXCHANGE ACT OF 1934 APPLIANCE RECYCLING CENTERS OF AMERICA, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, WITHOUT PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 03814F 20 5 - -------------------------------------------------------------------------------- (CUSIP Number) EDWARD R. CAMERON 7400 EXCELSIOR BOULEVARD MINNEAPOLIS, MINNESOTA 55426 (612) 930-9000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) DECEMBER 31, 2000 - -------------------------------------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-l(e), 13d-1(f) or 13d-1(g), check the following box. |_| 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. (Cover page continued on next page) - Page 1 of 4 - SCHEDULE 13D - -------------------------------- -------------------------------- CUSIP NO. 03814F 20 5 PAGE 2 OF 4 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY) Edward R. Cameron - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A (See item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 315,189 ------------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY -0- ------------------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING 315,189 ------------------------------------------------------ PERSON 10 SHARED DISPOSITIVE POWER WITH -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 315,189 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.7% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - Page 2 of 4 - ITEM 1. SECURITY AND ISSUER. This statement relates to Common Stock, no par value, of Appliance Recycling Centers of America, Inc. ("Issuer"), a Minnesota corporation, having its principal executive offices at 7400 Excelsior Boulevard, Minneapolis, Minnesota 55426. ITEM 2. IDENTITY AND BACKGROUND. 2(a) Edward R. Cameron 2(b) 7400 Excelsior Boulevard, Minneapolis, Minnesota 55426 2(c) Chief Executive Officer of Appliance Recycling Centers of America, Inc. 2(d) N/A 2(e) N/A 2(f) United States of America ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Mr. Cameron acquired shares of the Issuer at its inception using personal funds. ITEM 4. PURPOSE OF TRANSACTION. Mr. Cameron holds the shares in the Issuer for investment purposes. Mr. Cameron intends to continue holding such shares for investment purposes only as a passive investor. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Mr. Cameron owns a total of 302,689 shares of common stock of the Issuer and options to purchase 175,000 shares of common stock of the Issuer, 12,500 of which are exercisable now or within 60 days, for approximately 13.7%, based on 2,286,744 shares outstanding plus the shares that would be outstanding upon exercise of such options. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. N/A ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. N/A - Page 3 of 4 - SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. Dated: February 14, 2001 /s/ Edward R. Cameron --------------------- Edward R. Cameron - Page 4 of 4 -