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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D/A(1)
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
REXX ENVIRONMENTAL CORPORATION(2)
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
76168W 10 7
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(CUSIP Number)
Joseph Greenberger, Esq.
111 East 61st Street
New York, NY 10021
(212) 644-0700
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 19, 2000
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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(e), 13d-1(f) or 13d-1(g), check the
following box [_].
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(1) Amendment No. 4 of Arthur L. Asch and Amendment No. 1 of Michael A.
Asch.
(2) On September 19, 2000, the Issuer merged into a subsidiary of Newtek
Capital, Inc., its successor issuer. On September 20, 2000, the Issuer
filed a Form 15 Certification and Notice of Termination of Registration
under Section 12(g) of the Securities Exchange Act of 1934.
(Continued on following pages)
(Page 1 of 7 pages)
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1 NAME OF REPORTING PERSON
Michael A. Asch
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 76,000
OWNED BY --------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
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9 SOLE DISPOSITIVE POWER
76,000
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
146,000(1)
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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)
5.8%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes 20,000 Shares held by Reporting Person's wife in which he
disclaims beneficial ownership and 26,000 Shares held by the Reporting Person as
custodian for minor children in which he disclaims beneficial ownership. Also
includes 50,000 Shares underlying options exercisable within 60 days.
(Page 2 of 7 pages)
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1 NAME OF REPORTING PERSON
Arthur L. Asch
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 371,051
OWNED BY --------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
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9 SOLE DISPOSITIVE POWER
371,051
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
426,051(1)
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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)
17.1%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes (i) 25,000 Shares owned by the Reporting Person's wife in
which he disclaims beneficial ownership, and (ii) 30,000 Shares underlying
options exercisable within 60 days.
(Page 3 of 7 pages)
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Item 1. Security and Issuer.
The class of equity securities to which this Statement relates is the common
stock of REXX Environmental Corporation, a New York corporation (the "Issuer"),
whose principal executive office is located at c/o Newtek Capital, Inc., 845
Third Ave., New York, New York 10022. On September 19, 2000, the Issuer merged
into a subsidiary of Newtek Capital, Inc. On September 20, 2000, the Issuer
filed a Form 15 Certification and Notice of Termination of Registration under
section 12(g) of the Securities Exchange Act of 1934. The Reporting Persons are
not directly or indirectly the beneficial owners of 5% or more of any class of
securities of Newtek Capital, Inc. or an officer or director of Newtek Capital,
Inc.
Item 2. Identity and Background.
(a) Names: Arthur L. Asch and Michael A. Asch, who are the Reporting
Persons.
(b) Business Address: 445 Park Avenue, New York, New York 10022.
(c) Present principal occupation: Private investors.
(d) Convictions in Criminal Proceedings During the Last 5 Years: None.
(e) Securities Law-Related Proceedings in Last 5 Years Resulting in
Certain Judgements, Decrees or Orders: None.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 -- Joint Filing Agreement, pursuant to Rule 13d-1(k)(1)(iii).
(Page 4 of 7 pages)
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SIGNATURES
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: October 10, 2000 /s/ Arthur L. Asch
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ARTHUR L. ASCH
Dated: October 10, 2000 /s/ Michael A. Asch
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MICHAEL A. ASCH
(Page 5 of 7 pages)
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EXHIBIT INDEX
Exhibit No. Description Page No.
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Exhibit 1 Joint Filing Agreement, 7
pursuant to Rule 13d-1(k)(1)(iii)
(Page 6 of 7 pages)
