SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Asta Funding, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
046220109
- --------------------------------------------------------------------------------
(CUSIP Number)
*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 ("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. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Asta Group, Incorporated
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ___
(b) ___
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Citizenship or Place of Organization: Delaware
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 352,500*
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 352,500*
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500*
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 7.9%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): CO
- --------------------------------------------------------------------------------
* The 352,500 shares beneficially owned by the reporting persons are held in an
escrow account pursuant to an agreement between the reporting persons, Asta
Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering
and certain other shareholders of Asta Funding, Inc. The 352,500 shares will
only be released upon Asta Funding, Inc. attaining certain earnings goals or
stock price goals. The reporting persons may vote but not transfer the 352,500
shares.
CUSIP NO. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Arthur Stern
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) __________ (b) __________
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Citizenship or Place of Organization: United States of America
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 352,500*
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 352,500*
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500*
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 7.9%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
* The 352,500 shares beneficially owned by the reporting persons are held in an
escrow account pursuant to an agreement between the reporting persons, Asta
Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering
and certain other shareholders of Asta Funding, Inc. The 352,500 shares will
only be released upon Asta Funding, Inc. attaining certain earnings goals or
stock price goals. The reporting persons may vote but not transfer the 352,500
shares.
<PAGE>
CUSIP NO. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Gary Stern
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) _____ (b) ______
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Citizenship or Place of Organization: United States of America
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 352,500*
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 352,500*
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500*
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 7.9%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
* The 352,500 shares beneficially owned by the reporting persons are held in an
escrow account pursuant to an agreement between the reporting persons, Asta
Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering
and certain other shareholders of Asta Funding, Inc. The 352,500 shares will
only be released upon Asta Funding, Inc. attaining certain earnings goals or
stock price goals. The reporting persons may vote but not transfer the 352,500
shares.
Item 1(a). Name Of Issuer: Asta Funding, Inc.
- --------------------------------------------------------------------------------
Item 1(b). Address of Issuer's Principal Executive Offices: 210 Sylvan Avenue,
Englewood Cliffs, New Jersey 07632
- --------------------------------------------------------------------------------
Item 2(a). Name of Person Filing: This Schedule 13G/A is being filed by Asta
Group, Incorporated, a Delaware corporation ("Group"), Arthur Stern ("Arthur")
and Gary Stern ("Gary") as joint filers pursuant to Rule 13d-1(f)(1). Group is a
reporting person because it is the beneficial owner of record of the 352,500
shares of Common Stock, par value $.01 per share, of Asta Funding, Inc. Each of
Arthur and Gary are reporting persons because under the rules promulgated by
Securities and Exchange Commission under the Securities Exchange Act of 1934, as
amended, they may be deemed to be a control person of Group through their
ownership of Group common stock and their management positions with Group.
- --------------------------------------------------------------------------------
Item 2(b). Address of Principal Business Office or, if None, Residence:
210 Sylvan Avenue, Englewood, New Jersey 07632.
- --------------------------------------------------------------------------------
Item 2(c). Citizenship: Group is a Delaware corporation and both Arthur and
Gary are citizens of the United States of America.
- --------------------------------------------------------------------------------
Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per
share, of Asta Funding, Inc.
- --------------------------------------------------------------------------------
Item 2(e). CUSIP No.: 046220109
- --------------------------------------------------------------------------------
Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the Person Filing is a
Not Applicable
(a) [ ] Broker or Dealer registered under Section 15 of the Act.
(b) [ ] Bank as defined in section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act.
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act.
(e) [ ] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974 or Endowment
fund; see Rule 13d-1(b)(1)(ii)(H).
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) (Note: See Item 7).
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 4. Ownership
(a) Amount Beneficially Owned (as of August 15, 1997):
352,500
(b) Percent of Class (as of August 15, 1997):
7.9%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote ---
(ii) shared power to vote or to direct the vote 352,500
(iii) sole power to dispose or to direct the disposition of ---
(iv) shared power to dispose or to direct the disposition of 352,500
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.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
N/A
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
September 9, 1997
(Date)
ASTA GROUP, INCORPORATED
By: /s/ Arthur Stern
_________________________
Arthur Stern, President
/s/ Arthur Stern
____________________________
Arthur Stern
/s/ Gary Stern
___________________________
Gary Stern
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
EXHIBIT A
JOINT FILING AGREEMENT
Asta Group, Incorporated, a Delaware corporation, Arthur Stern and
Gary Stern hereby agree that the Schedule 13G/A filed herewith relating to the
shares of Common Stock, par value $.01 per share, of Asta Funding, Inc., a
Delaware corporation, is filed jointly on behalf of each such person pursuant to
Rule 13d-1(f)(1).
September 9, 1997
(Date)
ASTA GROUP, INCORPORATED
By: /s/ Arthur Stern
____________________________
Arthur Stern, President
/s/ Arthur Stern
____________________________
Arthur Stern
/s/ Gary Stern
_____________________________
Gary Stern
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
Asta Funding, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
046220109
- --------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement |X|. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 ("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. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Asta Group, Incorporated
- --------------------------------------------------------------------------------
(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: New York
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 2,605,000
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 2,605,000
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 58.4%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): CO
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Arthur Stern
- --------------------------------------------------------------------------------
(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 of America
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 2,605,000
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 2,605,000
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 58.4%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 046220109
- --------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons: Gary Stern
- --------------------------------------------------------------------------------
(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 of America
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 2,605,000
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 2,605,000
- --------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000
- --------------------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9): 58.4%
- --------------------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions): IN
- --------------------------------------------------------------------------------
Item 1(a). Name Of Issuer: Asta Funding, Inc.
- --------------------------------------------------------------------------------
Item 1(b). Address of Issuer's Principal Executive Offices: 210 Sylvan Avenue,
Englewood Cliffs, New Jersey 07632
- --------------------------------------------------------------------------------
Item 2(a). Name of Person Filing: This statement is being filed by Asta Group,
Incorporated, a New York corporation ("Group"), Arthur Stern ("Arthur") and Gary
Stern ("Gary"). Group is making the filing because it owns of record the shares
of Common Stock, par value $.01 per share, of Asta Funding, Inc. reported as
beneficially owned by it. Each of Arthur and Gary are making this filing because
under rules promulgated by the Securities and Exchange Commission under the
Securities Exchange Act of 1934, as amended, may be deemed to be, through his
ownership of shares of common stock of Group and his management position with
Group, a control person of Group.
- --------------------------------------------------------------------------------
Item 2(b). Address of Principal Business Office or, if None, Residence: The
principal business office of each of Group, Arthur and Gary is 210 Sylvan
Avenue, Englewood Cliffs, New Jersey 07632.
- --------------------------------------------------------------------------------
Item 2(c). Citizenship: Group is a New York corporation. Each of Arthur and
Gary is a citizen of the United States of America.
- --------------------------------------------------------------------------------
Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per
share, of Asta Funding, Inc. ("Common Stock")
- --------------------------------------------------------------------------------
Item 2(e). CUSIP No.: 046220109
- --------------------------------------------------------------------------------
Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the Person Filing is a
Not applicable
- --------------------------------------------------------------------------------
Item 4. Ownership
(a) Amount Beneficially Owned:
2,605,000
(b) Percent of Class:
58.4%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote: None
(ii) shared power to vote or to direct the vote: 2,605,000
(iii) sole power to dispose or to direct the disposition of: None
(iv) shared power to dispose or to direct the
disposition of: 2,605,000
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.
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
Not applicable
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
December 19, 1995
(Date)
ASTA GROUP, INCORPORATED
By: /s/ Arthur Stern
_________________________
Arthur Stern, President
/s/ Arthur Stern
_______________________________
Arthur Stern
/s/ Gary Stern
_________________________________
Gary Stern
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
Asta Group, Incorporated, a New York corporation, Arthur Stern and
Gary Stern hereby agree that the Statement on Schedule 13G filed herewith and
any amendments thereto relating to the shares of Common Stock, par value $.01
per share, of Asta Funding, Inc., a Delaware corporation, is filed jointly on
behalf of each such person.
December 19, 1995
(Date)
ASTA GROUP, INCORPORATED
By: /s/ Arthur Stern
________________________
Arthur Stern, President
/s/ Arthur Stern
____________________________
Arthur Stern
/s/ Gary Stern
____________________________
Gary Stern
