SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Schedule 13D
IBS Interactive, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of class of securities)
44923E-10-1
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(CUSIP Number)
Timothy I. Kahler, Esq.
Parker Chapin Flattau & Klimpl, LLP
1211 Avenue of the Americas
New York, New York 10036
212-704-6000
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(Person Authorized to Receive Notices and Communications)
June 30, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]
<PAGE>
CUSIP No. 44923E-10-1 13D Page 2 of 6 Pages
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NAME OF REPORTING PERSON
1 SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arnold Schron
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
3 SEC USE ONLY
SOURCE OF FUNDS*
4 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
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 240,505
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON None
WITH
9 SOLE DISPOSITIVE POWER
240,505
10 SHARED DISPOSITIVE POWER
None
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
11 240,505
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 The number of shares declared in Row (11) excludes the 19,500
shares described in Item 6 below. [X]
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 5.7%
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 44923E-10-1 13D Page 3 of 6 Pages
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Schedule 13D
Item 1. Security and Issuer
This statement relates to shares of the common stock ("Common
Stock") of IBS Interactive, Inc. (the "Company"). The Company's executive
offices are located at 2 Ridgedale Avenue, Suite 350, Cedar Knolls, NJ 07927.
Item 2. Identity and Background
(a) This statement is filed by Arnold Schron (the "Reporting
Person").
(b) The residence address of the Reporting Person is 578 Sanderling
Court, Secaucus, New Jersey 07094.
(c) The Reporting Person is Senior Vice President - IT Consulting
of the Company. The Company's principal executive offices are located at 2
Ridgedale Avenue, Suite 350, Cedar Knolls, NJ 07927. The Company provides a
broad range of Internet, programming, applications development and computer
networking services primarily to businesses and organizations.
(d) During the last five years, the Reporting Person has not been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, the Reporting Person has not been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, Federal or State securities laws or findings of
any violation with respect to such laws.
(f) The Reporting Person is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
Prior to June 30, 1999, the Reporting Person was the owner of all
of the outstanding capital stock of Spencer Analysis, Inc. ("Spencer"). In
connection with the merger of a subsidiary of the Company with and into Spencer
on June 30, 1999, the Reporting Person exchanged the outstanding stock of
Spencer for the right to receive 260,005 shares of Common Stock. Of such 260,005
shares, the Reporting Person received 240,505 shares at the closing on June 30,
1999 and 19,500 shares of Common Stock were withheld as a reserve fund pending
certain determinations to be made by the Company and the Reporting Person after
December 31, 1999.
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CUSIP No. 44923E-10-1 13D Page 4 of 6 Pages
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Item 4. Purpose of Transaction
The Common Stock held by the Reporting Person was acquired, and is
being held, as an investment. The Reporting Person does not have any present
plans or proposals which relate to or would result in: (a) the acquisition or
disposition by any person of additional securities of the Company, except for
the 19,500 shares of Common Stock as described in item 6 below (however, the
Reporting Person retains the right to acquire and dispose of securities in open
market transactions from time to time), (b) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, (c) a sale or
transfer of a material amount of assets of the Company or any of its
subsidiaries, (d) any change in the present board of directors or management of
the Company, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board, (e) any material
change in the present capitalization or dividend policy of the Company, (f) any
other material change in the Company's business or corporate structure, (g)
changes in the Company's charter, bylaws or instruments corresponding thereto or
other actions which may impede the acquisition of control of the Company by any
person, (h) causing a class of securities of the Company to be delisted from a
national securities exchange or cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association,
(i) a class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934 or (j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a) The Reporting Person may be deemed to be the beneficial owner
of 240,505 (5.7%) of the issued and outstanding shares of Common Stock.
(b) The following table sets forth information as to shares of
Common Stock which the Reporting Person individually has sole or shared power to
vote or to direct the disposition at July 12, 1999:
<TABLE>
<CAPTION>
Shares with Shares with
Sole Power to Shared Power to Total
Vote and Vote and -------------------
Direct Disposition Direct Disposition Shares %
------------------ ------------------ ------ ---
<S> <C> <C> <C> <C>
Arnold Schron 240,505 0 240,505 5.7
</TABLE>
(c) The Reporting Person has not engaged in any transaction in the
Company's Common Stock during the past 60 days.
(d) No person other than the Reporting Person is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, securities of the Company beneficially owned by the
Reporting Person.
(e) Not applicable.
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CUSIP No. 44923E-10-1 13D Page 5 of 6 Pages
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Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
The Reporting Person may be entitled to receive 19,500 shares of
Common Stock which shares have been withheld as a reserve fund. The actual
number of such additional shares will be calculated based on certain
determinations to be made by the Company and the Reporting Person after December
31, 1999.
Item 7. Material to be Filed as Exhibits
None
[This Space Intentionally Left Blank]
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CUSIP No. 44923E-10-1 13D Page 6 of 6 Pages
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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.
Dated July 12, 1999.
/s/ Arnold Schron
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Arnold Schron
