SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Asta Funding, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
046220109
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(CUSIP Number)
March 18, 1998
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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 13G is filed:
[ ] Rule 13d-1(b)
[X] 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
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).
<PAGE>
CUSIP NO. 046220109
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only): Asta Group, Incorporated
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (b)
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(3) SEC Use Only
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(4) Citizenship or Place of Organization: Delaware
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Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power: 85,000
(6) Shared Voting
Power:
(7) Sole Dispositive
Power: 85,000
(8) Shared Dispositive
Power:
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 85,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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(11) Percent of Class Represented by Amount in Row (9): 2.2%
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(12) Type of Reporting Person (See Instructions): CO
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CUSIP NO. 046220109
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only): Arthur Stern
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (b)
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(3) SEC Use Only
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(4) Citizenship or Place of Organization: United States
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Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 85,000*
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 85,000*
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 85,000*
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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(11) Percent of Class Represented by Amount in Row (9): 2.2%
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(12) Type of Reporting Person (See Instructions): IN
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* Arthur Stern has shared voting and dispositive power over the 85,000 shares
because he may be deemed a control person of Asta Group, Incorporated ("Group")
through his ownership of Group common stock and his management position with
Group. 21,658 shares represents Mr. Stern's proportionate equity interest in the
85,000 shares held by Group.
<PAGE>
CUSIP NO. 046220109
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons
(entities only): Gary Stern
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(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) (b)
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(3) SEC Use Only
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(4) Citizenship or Place of Organization: United States
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Number of Shares Beneficially Owned by Each (5) Sole Voting
Reporting Person With Power:
(6) Shared Voting
Power: 85,000*
(7) Sole Dispositive
Power:
(8) Shared Dispositive
Power: 85,000*
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person: 85,000*
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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(11) Percent of Class Represented by Amount in Row (9): 2.2%
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(12) Type of Reporting Person (See Instructions): IN
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* Gary Stern has shared voting and dispositive power over the 85,000 shares
because he may be deemed a control person of Asta Group, Incorporated ("Group")
through his ownership of Group common stock and his management position with
Group. 28,824 shares represents Mr. Stern's proportionate equity interest in the
85,000 shares held by Group.
Item 1(a). Name Of Issuer: Asta Funding, Inc.
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Item 1(b). Address of Issuer's Principal Executive Offices: 210 Sylvan Avenue,
Englewood Cliffs, New Jersey 07632
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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(k). Group is a
reporting person because it is the beneficial owner of record of the 85,000
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.
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Item 2(b). Address of Principal Business Office or, if None, Residence: 210
Sylvan Avenue, Englewood, New Jersey 07632.
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Item 2(c). Citizenship: Group is a Delaware corporation and both Arthur and
Gary are citizens of the United States.
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Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per
share, of Asta Funding, Inc.
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Item 2(e). CUSIP No.: 046220109
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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 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) [ ] An Investment Adviser in accordance with ss.240.13d-1(b)(1)(ii)
(E);
(f) [ ] An Employee Benefit Plan or Endowment Fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A Parent Holding Company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(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)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
If this statement is file pursuant to ss.240.13d-1(c), check this box [X].
Item 4. Ownership
(a) Amount Beneficially Owned (as of March 18, 1998):
85,000
(b) Percent of Class (as of March 18, 1998):
2.2%
(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 85,000
-----------
(iii) sole power to dispose or to direct the disposition of ---
(iv) shared power to dispose or to direct the disposition of
85,000
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 [ 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.
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.
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 such securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
April 6, 1998
(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)
<PAGE>
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(k).
April 6, 1998
(Date)
ASTA GROUP, INCORPORATED
By: /s/ Arthur Stern
Arthur Stern, President
/s/ Arthur Stern
Arthur Stern
/s/ Gary Stern
Gary Stern
