UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
NEXMED, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
652903105
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(CUSIP Number)
December 31, 1999
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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:
[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
disclosures provided in a prior cover page.
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 (however, see the
Notes).
(Continued on following page(s))
Page 1 of 8 Pages
<PAGE>
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CUSIP No. 652903105
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========= ======================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
David W. Tice & Associates, Inc. - 75-2476962
========= ======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [ ]
(b) [ ]
Not Applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
========= ============= ====== =================================================
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ====== =================================================
OWNED BY 6 SHARED VOTING POWER
EACH -0-
REPORTING ====== =================================================
PERSON 7 SOLE DISPOSITIVE POWER
WITH 999,999
====== =================================================
8 SHARED DISPOSITIVE POWER
-0-
========= ======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
999,999(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
Not Applicable
========= ======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%(1)
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
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(1) Represents 333,333 shares of common stock issuable upon exercise of warrants
and 666,666 shares of common stock (with the percent ownership calculated
based upon an aggregate of 16,032,122 shares outstanding as of December 27,
1999, and assuming exercise of the warrants owned by the reporting person.
Page 2 of 8 Pages
<PAGE>
========= ======================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Prudent Bear Funds, Inc. - 39-1837741
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [ ]
(b) [ ]
Not Applicable
========= ======================================================================
3 SEC USE ONLY
========= ======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
========= ============= ====== =================================================
5 SOLE VOTING POWER
NUMBER OF 999,999
SHARES
BENEFICIALLY ====== =================================================
OWNED BY 6 SHARED VOTING POWER
EACH -0-
REPORTING ====== =================================================
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
====== =================================================
8 SHARED DISPOSITIVE POWER
-0-
========= ======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
999,999(1)
========= ======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable
========= ======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%(1)
========= ======================================================================
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IV
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(1) Represents 333,333 shares of common stock issuable upon exercise of warrants
and 666,666 shares of common stock (with the percent ownership calculated
based upon an aggregate of 16,032,122 shares outstanding as of December 27,
1999, and assuming exercise of the warrants owned by the reporting person.
Page 3 of 8 Pages
<PAGE>
Item 1(a). Name of Issuer:
Nexmed, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
350 Corporate Boulevard
Robbinsville, New Jersey 08691
Item 2(a). Name of Person Filing:
The persons filing this Schedule 13G are (i) David W.
Tice & Associates, Inc., an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940
and (ii) Prudent Bear Funds, Inc., an investment company
registered under the Investment Company Act of 1940.
Attached as Exhibit 1 hereto, which is incorporated by
reference herein, is an agreement between David W. Tice &
Associates, Inc. and Prudent Bear Funds, Inc. that this
Schedule 13G is filed on behalf of each of them.
Item 2(b). Address of Principal Business Office or, if none,
Residence:
8140 Walnut Hill Lane, Suite 405
Dallas, Texas 75231
(for both David W. Tice & Associates, Inc. and Prudent
Bear Funds, Inc.)
Item 2(c). Citizenship:
David W. Tice & Associates, Inc. is a Texas corporation.
Prudent Bear Funds, Inc. is a Maryland corporation.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
652903105
Page 4 of 8 Pages
<PAGE>
Item 3. If this statement is filed pursuant to Rules 13d-1(b),
or 13d-2(b) or (c), check whether the person filing is a:
[ ] Broker or dealer registered under section 15 of the
Act (15 U.S.C. 78o).
[ ] Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c).
[ ] Insurance company as defined in section 3(a)(19) of
the Act (15 U.S.C. 78c).
|X| Investment company registered under section 8
of the Investment Company Act of 1940 (15 U.S.C.
80a-8).
|X| An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
[ ] An employee benefit plan or endowment fund in
accordance with Section 240.13d-1(b)(1)(ii)(F).
[ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G).
[ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813);
[ ] 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);
[ ] Group, in accordance with Section 240.13d-1(b)
(1)(ii)(J).
Item 4. Ownership
David W. Tice & Associates, Inc.
(a) Amount Beneficially Owned: 999,999*
(b) Percent of Class: 6.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
-0-
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of:
999,999
(iv) shared power to dispose or to direct the
disposition of:
-0-
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*David W. Tice & Associates, Inc. and Prudent Bear Funds, Inc. share beneficial
ownership over the same 999,999 shares.
Page 5 of 8 Pages
<PAGE>
Prudent Bear Funds, Inc.
(a) Amount Beneficially Owned: 999,999 *
(b) Percent of Class: 6.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
999,999
(ii) shared power to vote or to direct the vote:
-0-
(iii) sole power to dispose or to direct the
disposition of:
-0-
(iv) shared power to dispose or to direct
the disposition of:
-0-
Item 5. Ownership of Five Percent or Less of a Class.
N/A
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
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*David W. Tice & Associates, Inc. and Prudent Bear Funds, Inc. share beneficial
ownership over the same 999,999 shares.
Page 6 of 8 Pages
<PAGE>
Item 10. Certification.
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.
Exhibits.
1. Agreement to file Schedule 13G jointly.
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.
February 11, 2000
Date
DAVID W. TICE & ASSOCIATES, INC.
By: /s/ David W. Tice
David W. Tice, President
PRUDENT BEAR FUNDS, INC.
By: /s/ David W. Tice
David W. Tice, President
Page 7 of 8 Pages
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CUSIP No. 652903105
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EXHIBIT 1
AGREEMENT dated as of February 11, 2000, by and among David W. Tice &
Associates, Inc., a Texas corporation, and Prudent Bear Funds, Inc., a Maryland
corporation.
WHEREAS, in accordance with Rule 13d-1(k) of the Securities Exchange Act
of 1934 (the "Act"), only one such statement need be filed whenever two or more
persons are required to file a statement pursuant to Section 13(d) of the Act
with respect to the same securities, provided that said persons agree in writing
that such statement is filed on behalf of each of them.
NOW, THEREFORE, in consideration of the premises and mutual agreements
herein contained, the parties hereto agree as follows:
Both David W. Tice & Associates, Inc. and Prudent Bear Funds, Inc. hereby
agree, in accordance with Rule 13d-1(k) under the Act, to file one Statement on
Schedule 13G relating to their ownership of the Common Stock of Nexmed, Inc.,
and hereby further agree that said Statement shall be filed on behalf of both
David W. Tice & Associates, Inc. and Prudent Bear Funds, Inc. Nothing herein
shall be deemed to be an admission that the parties hereto, or any of them, are
members of a "group" (within the meaning of Section 13(d) of the Act and the
rules promulgated thereunder) with respect to any securities of Nexmed, Inc.
IN WITNESS WHEREOF, the parties have executed this agreement as of the
date first written above.
DAVID W. TICE & ASSOCIATES, INC.
By: /s/ David W. Tice
David W. Tice, President
PRUDENT BEAR FUNDS, INC.
By: /s/ David W. Tice
David W. Tice, President
Page 8 of 8 Pages
