---------------------------------- OMB APPROVAL ------------ OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response 14.90 ---------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. __)* SECURITY NATIONAL FINANCIAL CORPORATION - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK - -------------------------------------------------------------------------------- (Title of Class Securities) 814785309 ------------------------------------ (CUSIP Number) September 12, 2003 ------------------------------------------------------------------------ (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |X|Rule 13d-1(b) |_|Rule 13d-1(c) |_|Rule 13d-1(d) *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 disclosure 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 ("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).Page 2 of 9 Pages ................................... CUSIP No. 814785309 ................................... - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Ault Glazer & Company Investment Management LLC - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (A) |_| (B) |_| - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 168,807 - -------------------------------------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ----------------------------------------------------------- OWNED BY EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON WITH 168,807 - -------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 168,807 - -------------------------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.59% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA - -------------------------------------------------------------------------------- Page 3 of 9 Pages ................................... CUSIP No. 814785309 ................................... - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Milton C. Ault, III - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (A) |_| (B) |_| - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 4 USA - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 168,807 - -------------------------------------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ----------------------------------------------------------- OWNED BY EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON WITH 168,807 - -------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 168,807 - -------------------------------------------------------------------------------- 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.59% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN, HC - -------------------------------------------------------------------------------- Page 4 of 9 pages Item 1. (a) Name of Issuer Security National Financial Corporation (b) Address of Issuer's Principal Executive Office 2300 South 360 West, Suite 250 Salt Lake City, Utah 84123 Item 2. (a) Name of Person Filing This statement is being filed by (i) Ault Glazer & Company Investment Management LLC, a Delaware limited liability company ("IA") and (ii) Milton C. Ault, III ("Ault") (collectively, the "Reporting Persons"). Ault controls IA by virtue of Ault's majority interest in IA. IA's beneficial ownership of the Common Stock is direct as a result of IA's discretionary authority to buy, sell, and vote shares of such Common Stock for its investment advisory clients. Ault's beneficial ownership of Common Stock is indirect as a result of Ault's majority interest in IA. The beneficial ownership of the Ault is reported solely because Rules 13d-1(a) and (b) under the Securities Exchange Act of 1934, as amended, require any person who is "directly or indirectly" the beneficial owner of more than five percent of any equity security of a specified class to file a Schedule 13G within the specified time period. The answers in blocks 5, 7, 9 and 11 above and in responses to item 4 by Ault are given on the basis of the "indirect" beneficial ownership referred to in such Rules, based on the direct beneficial ownership of Common Stock by IA and the relationship of Ault to IA referred to above. Information with respect to each Reporting Person is given solely by the respective Reporting Person, and no Reporting Person undertakes hereby any responsibility for the accuracy or completeness of such information concerning any other Reporting Person. (b) Address of Principal Business Office or, if none, Residence IA's Principal Business Office is located at: 100 Wilshire Blvd., 15th Floor Santa Monica, California 90401 Ault's Principal Business Office is located at: 100 Wilshire Blvd., 15th Floor Santa Monica, California 90401 (c) Citizenship IA is a Delaware limited liability company Ault is a United States citizen Page 5 of 9 pages (d) Title of Class of Securities Class A Common, $2.00 par value (e) CUSIP Number 814785309 Item 3 If this statement is filed pursuant to Sections 240.13d(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 Act (15 U.S.C. 78o). (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c) (c) |_| Insurance Company as defined in section 3(a)(19) of the 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) |X| An investment adviser in accordance with Section 240.13D-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(10(ii)(F); (g) |_| A parent holding company or control person in accordance with Section 249,13d-1(b)(1)(iii)(G); (h) |_| A savings associations 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)(114) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) |_| Group, in accordance with Section 240.13d-1(b)(1)(ii)(J). Item 4. Ownership Common Stock: (a) Amount Beneficially Owned: 168,807 ------- (b) Percent of Class: 3.59% ----- (c) Number of shares as to which the joint filers have: (i) sole power to vote or to direct the vote: 168,807 ------- (ii) shared power to vote of to direct the vote: 0 - (iii) sole power to dispose or to direct the disposition of: 168,807 ------- (iv) shared power to dispose of or to direct the disposition of: 0 - 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, Page 6 of 9 pages check the following |X|. Item 6. Ownership of More than Five Percent on Behalf of Another Person N/A. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Ault is the equivalent of a parent holding company for purposes of the Schedule 13G. IA is the equivalent of Ault's indirect subsidiary, and IA acquired the security being reported on by Ault. IA is a registered investment adviser. See Exhibit B. Item 8 Identification and Classification of Members of the Group Not applicable. Item 9 Notice of Dissolution of Group Not applicable. Item 10. Certification (a) The following certification shall be included if the statement is filed pursuant to 240.13d-l (b): 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. Page 7 of 9 pages 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. Date: September 16, 2003 AULT GLAZER & COMPANY INVESTMENT MANAGEMENT LLC By: /s/ Milton C. Ault, III ----------------------- Milton C. Ault, III Managing Director MILTON C. AULT, III /s/ Milton C. Ault, III ----------------------- Page 8 of 9 pages EXHIBIT A --------- Identification and Classification of Members of the Group --------------------------------------------------------- Pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934, the members of the group making this joint filing are identified and classified as follows: Name Classification ---- -------------- Not applicable. Not applicable. Page 9 of 9 EXHIBIT B --------- Joint Filing Agreement Pursuant to Rule 13d-1 --------------------------------------------- This agreement is made pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934 (the "Act") by and among the parties listed below, each referred to herein as a "Joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by Sections 13(g) or 13(d) of the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Dated: September 16, 2003 AULT GLAZER & COMPANY INVESTMENT MANAGEMENT LLC By: /s/ Milton C. Ault, III ----------------------- Milton C. Ault, III Managing Director MILTON C. AULT, III /s/ Milton C. Ault, III -----------------------