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. 4)(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)
February 18, 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-1(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 Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
83,400 shares 4.4%
Number of ------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 150,000 shares 8.0%
Owned By ------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 83,400 shares 4.4%
Person ------------------------------------------------------------
With 10 Shared Dispositive Power
150,000 shares 8.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
233,400 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 12.4%
- --------------------------------------------------------------------------------
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 Item 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 ------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 83,400 shares 4.4%
Each ------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 150,000 shares 8.0%
With ------------------------------------------------------------
10 Shared Dispositive Power
83,400 shares 4.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
233,400 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.4%
- --------------------------------------------------------------------------------
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 Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 233,400 shares 12.4%
Owned By ------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ------------------------------------------------------------
With 10 Shared Dispositive Power
233,400 shares 12.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
233,400 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 12.4%
- --------------------------------------------------------------------------------
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 Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
------------------------------------------------------------
Number of 8 Shared Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 9 Sole Dispositive Power
Each 0 shares 0%
Reporting ------------------------------------------------------------
Person 10 Shared Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
0 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- --------------------------------------------------------------------------------
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 Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 0 shares 0%
Owned By ------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ------------------------------------------------------------
With 10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
0 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 0%
- --------------------------------------------------------------------------------
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 Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of ------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 0 shares 0%
Owned By ------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person ------------------------------------------------------------
With 10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
0 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
This statement, dated February 18, 1999, constitutes Amendment No. 4 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. 4 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 25,
1999:
Percentage of Shares of
Shares of Common Stock Common Stock
Name Beneficially Owned(2) Beneficially Owned(2)
- ---- ---------------------- --------------------
Woodland Partners 233,400(3,4,5) 12.4%
Barry Rubenstein 233,400(3,4,5) 12.4%
Marilyn Rubenstein 233,400(3,4,5) 12.4%
Woodland Venture Fund 0 0%
Seneca Ventures 0 0%
Woodland Services Corp. 0 0%
(b) By virtue of being a general partner of Partners, Barry Rubenstein may
be deemed to have shared power to vote and to dispose of 83,400 shares of Common
Stock, representing approximately 4.4% 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 233,400 shares of Common Stock, representing approximately 12.4% of
the outstanding Common Stock.
Partners has sole power to vote and to dispose of 83,400 shares of Common
Stock, representing approximately 4.4% of the outstanding Common Stock, and may
be deemed to have
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(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 83,400 shares of Common Stock owned by Woodland Partners.
(5) Includes 150,000 shares of Common Stock held in the Barry Rubenstein
Rollover IRA account.
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<PAGE>
shared power to vote and to dispose of 150,000 shares of Common Stock,
representing approximately 8.0% 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 February 9, 1999 through February 25, 1999, inclusive:
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Woodland Venture Fund 2/18/99 (10,200) $5.20
Seneca Ventures 2/16/99 (4,300) $5.21875
2/17/99 (1,000) $5.21875
2/18/99 (17,100) $5.20
Woodland Partners 2/19/99 (3,500) $5.21875
2/20/99 (5,000) $5.21875
2/21/99 (4,100) $5.21875
2/25/99 (4,000) $5.20
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: March 8, 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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