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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES ACT OF 1934
FAXSAV, INCORPORATED
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
31210L-10-4
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(CUSIP Number)
July 27, 1998
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(Date of Event which Requires Filing of this Statement)
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SCHEDULE 13D
CUSIP No. 31210L-10-4 Page 1 of 5 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WAYNE CLOSE
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
900,000
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8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH --------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH
900,000
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
900,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.02%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILING OUT!
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ITEM 1(A) Name of Issuer
FAXSAV, INCORPORATED
ITEM 1(B) Address of Issuer's Principal Executive Offices
399 THORNALL STREET
EDISON, NJ 08837
ITEM 2(A) Name of Person(s) Filing
WAYNE CLOSE
ITEM 2(B) Address of Principal Business Office or, if none, residence
19161 S.E. DEBORA DRIVE
BORING, OR 97009
ITEM 2(C) Citizenship
UNITED STATES
ITEM 2(D) Title of Class of Securities
COMMON STOCK, PAR VALUE $0.01
ITEM 2(E) CUSIP Number
31210L-10-4
ITEM 3 Source and Amount of Funds
Securities purchased at an aggregate price of $4,095,000 of which
approximately $2,395,000 represents the personal funds of the
Reporting Person, and approximately $1,700,000 constitutes
consideration borrowed or otherwise obtained for the purpose of
effecting the transactions reported herein.
ITEM 4 Purpose of Transaction
Securities obtained for the individual account of the Reporting
Person for investment purposes only. The Reporting Person has no
plans to cause the occurrence of events reportable under Item 4.
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ITEM 5 Ownership
(a) Amount Beneficially Owned by Reporting Person: 900,000 Shares
(b) (i) Sole power to vote or to direct the vote: 900,000 shares
(b) (ii) Shared power to vote or to direct the vote: 0
(b) (iii) Sole power to dispose or to direct the disposition of:
900,000 shares
(b) (iv) Shared power to dispose or to direct the disposition of:0
(c) Transactions within past sixty days: During the period between
July 1, l998 and the date of filing, the Reporting Person
acquired 900,000 shares of the Common Stock, par value $0.01,
of the Issuer at a weighted average price of $4.55 per share
through purchases effected by a registered broker or dealer.
(d) None.
(e) N/A.
ITEM 6 Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
None.
ITEM 7 Material to be Filed as Exhibits
None.
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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.
8/4/98 /s/ Wayne Close
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Date Signature
Wayne Close/Reporting Person
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Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of this filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
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