SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a).
(Amendment No. 3)(1)
UNITY FIRST ACQUISITION CORP.
(Name of Issuer)
COMMON STOCK, $0.0001 PAR VALUE
(Title of Class of Securities)
912908100
(CUSIP Number)
Copy to:
Seneca Ventures Stephen A. Cohen, Esq.
68 Wheatley Road Morrison Cohen Singer & Weinstein, LLP
Brookville, New York 11545 750 Lexington Avenue
Telephone (516) 626-3070 New York, New York 10022
Telephone (212) 735-8600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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February 8, 1999
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box
|_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
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(1) 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 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).
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Partners
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 100,000 Shares 5.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
182,600 Shares 9.7%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 100,000 Shares 5.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
182,600 shares 9.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 150,000 shares 8.0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
132,600 shares 7.1%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 150,000 Shares 8.0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
132,600 shares 7.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Marilyn Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
282,600 shares 15.1%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
282,600 shares 15.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Venture Fund
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 10,200 shares 0.5%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
272,400 shares 14.5%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 10,200 shares 0.5%
Person _________________________________________________________________
10 Shared Dispositive Power
With
272,400 shares 14.5%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Seneca Ventures
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 22,400 shares 1.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
260,200 shares 13.9%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 22,400 shares 1.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
260,200 shares 13.9%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP No. 912908100 13D
________________________________________________________________________________
1 Name of reporting person
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Services Corp.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
282,600 shares 15.1%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
282,600 shares 15.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
282,600 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
15.1%
________________________________________________________________________________
14 Type of Reporting Person*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
This statement, dated February 8, 1999, constitutes Amendment No. 3 to the
Schedule 13D, dated November 13, 1996, regarding the reporting persons'
ownership of certain securities of Unity First Acquisition Corp. (the "Issuer").
This Schedule 13D is hereinafter referred to as the "Schedule". All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 3 to the Schedule is filed in accordance with Rule 13d-2
of the Securities Exchange Act of 1934, as amended, by the reporting persons. It
shall refer only to information which has materially changed since the filing of
the Schedule.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 1,875,000 shares of Common Stock outstanding as reported by the Issuer
in its Proxy dated September 14, 1998) of outstanding shares of Common Stock
owned beneficially by each reporting person named in Item 2, as of February 8,
1999:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(2) Beneficially Owned
- ---- ------------------ --------------------
Woodland Partners 282,600(3)(4) 15.1%
Barry Rubenstein 282,600(3)(5) 15.1%
Marilyn Rubenstein 282,600(3) 15.1%
Woodland Venture Fund 282,600(3)(6) 15.1%
Seneca Ventures 282,600(3)(7) 15.1%
Woodland Services Corp. 282,600(3) 15.1%
(b) By virtue of being a general partner of Partners, the Fund and Seneca,
Barry Rubenstein may be deemed to have shared power to vote and to dispose of
132,600 shares of Common Stock, representing approximately 7.1% of the
outstanding Common Stock. Barry Rubenstein has sole power to vote and to dispose
of 150,000 shares of Common Stock, representing approximately 8.0% of the
outstanding Common Stock.
Marilyn Rubenstein, by virtue of being a general partner of Partners, and
the wife of Barry Rubenstein, may be deemed to have shared power to vote and to
dispose of 282,600 shares of Common Stock, representing approximately 15.1% of
the outstanding Common Stock.
- ----------
2 Does not include shares of Common Stock issuable upon the exercise of
the Class A Warrants or the Class B Warrants.
3 The reporting person disclaims beneficial ownership of the securities
except to the extent of his/her/its equity interest therein.
4 Includes 100,000 shares of Common Stock owned by Woodland Partners.
5 Includes 150,000 shares of Common Stock held in the Barry Rubenstein
Rollover IRA account.
6 Includes 10,200 shares of Common Stock owned by the Fund.
7 Includes 22,400 shares of Common Stock owned by Seneca.
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<PAGE>
Partners has sole power to vote and to dispose of 100,000 shares of Common
Stock, representing approximately 5.3% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 182,600 shares of
Common Stock, representing approximately 9.7% of the outstanding Common Stock.
The Fund has sole power to vote and to dispose of 10,200 shares of Common
Stock, representing approximately 0.5% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 272,400 shares of
Common Stock, representing approximately 14.5% of the outstanding Common Stock.
Seneca has sole power to vote and to dispose of 22,400 shares of Common
Stock, representing approximately 1.2% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 260,200 shares of
Common Stock, representing approximately 13.9% of the outstanding Common Stock.
Services may be deemed to have shared power to vote and to dispose of
282,600 shares of Common Stock, representing approximately 15.1% of the
outstanding Common Stock.
(c) The following is a description of all transactions in shares of Common
Stock of the Issuer by the persons identified in Item 2 of this Schedule 13D
effected from January 27, 1999 through February 8, 1999, inclusive:
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
Woodland Venture Fund 1/28/99 (12,500) $5.25000
1/29/99 (1,800) $5.21875
2/3/99 (3,000) $5.21875
Seneca Ventures 2/8/99 (2,600) $5.21875
The reporting persons sold the shares of Common Stock in the
over-the-counter market.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
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<PAGE>
Signature
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Date: February 12, 1999
Barry Rubenstein
----------------------------------------
Barry Rubenstein, individually, as
General Partner on behalf of Woodland
Partners, Seneca Ventures, and Woodland
Venture Fund, and as President of
Woodland Services Corp.
Marilyn Rubenstein
----------------------------------------
Marilyn Rubenstein
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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