<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
MIM CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
553044108
--------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (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).
Page 1 of 6 pages
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------------------------- ----------------------------------
CUSIP NO. 553044108 Page 2 of 6 Pages
--------- --- ---
- --------------------------------------------------- ----------------------------------
- --------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E. David Corvese S.S. ####-##-####
- --------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- --------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
7,469,056*
NUMBER OF -----------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 3,196,950
WITH
-----------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,469,056
- --------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- --------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
50.83%
- --------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTION BEFORE FILLING OUT!
*See Item 4 below.
<PAGE>
SCHEDULE 13G
Item 1. (a) Name of Issuer:
MIM Corporation, a Delaware corporation
-------------------------------------------------
(b) Address of Issuer's Principal Executive Offices:
One Blue Hill Plaza
Pearl River, NY 10965
-------------------------------------------------
Item 2. (a) Name of Person Filing:
E. David Corvese, an individual
-------------------------------------------------
(b) Address of Principal Business Office or, if none,
Residence:
839-C Ministerial Boulevard
Wakefield, RI 02879
-------------------------------------------------
(c) Citizenship:
United States
-------------------------------------------------
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
553044108
-------------------------------------------------
Page 3 of 6 pages
<PAGE>
Item 3. Not Applicable
Item 4. Ownership.
Amount Beneficially Owned:
7,469,056*
* This amount represents the Reporting Person's holdings as of the end
of the Issuer's most recent fiscal year (December 31, 1997) and
included (i) 6,132,106 shares then owned directly by the Reporting
Person and (ii) 1,336,950 shares then issuable upon exercise of stock
options. This amount also included 3,040,000 shares, 1,500,000 shares
and 300,000 shares subiject to options granted by the Reporting Person
to Messrs. Klein, Friedman, and Daniels, respectively. This amount
does not include shares directly owned by the Reporting Person's
spouse or shares held in trusts of which the Reporting Person is not a
beneficiary or trustee. The Reporting Person disclaims beneficial
ownership of all such shares. In January, 1998, Klein and Friedman
exercised options to purchase 3,300,000 shares from the Reporting
Person. As of July 15, 1998, the Reporting Person beneficially owned
3,812,856 shares which included: (i) 2,832,106 shares owned directly
by the Reporting Person and (ii) 980,750 shares then issuable upon the
exercise of stock options. This amount also included 1,860,000 shares
and 300,000 shares subject to the unexercised portion of options
granted by the Reporting Person to Mr. Klein and Mr. Daniels,
respectively. During 1998, the Reporting Person has, as of July 15,
1998, exercised options for 306,200 shares, all of which were sold in
open market transactions. During a portion of 1998, the Reporting
Person had entered into an agreement with an investment adviser to
assist in the management of certain of his portfolio assets, including
a portion of his shares of the Issuer's Common Stock. Such agreement
has been terminated.
Page 4 of 6 pages
<PAGE>
Percent of Class:
50.83%**
** Based upon 14,692,106 shares of common stock outstanding as of
December 31, 1997, as adjusted to include shares then issuable upon
exercise of options by the Reporting Person. As of July 15, 1998, the
Reporting Person beneficially owned 25.85% of the then outstanding
shares based upon 14,746,750 shares of common stock as reported by the
Issuer, as adjusted to include shares issuable upon exercise of
options by the Reporting Person. This percentage was calculated
pursuant to Rule 13d-3(d)(1).
Number of shares as to which such person had (as of December 31,
1997):
(i) sole power to vote or to direct the vote: 7,469,056
(ii) shared power to vote or to direct the vote:
(iii) sole power to dispose or to direct the disposition of:
3,196,950
(iv) shared power to dispose or to direct the disposition of:
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable
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
Page 5 of 6 pages
<PAGE>
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 my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.
E. DAVID CORVESE
July 30, 1998 ------------------------------------
Signature
E. DAVID CORVESE
Page 6 of 6 pages
