UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
DVL, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
233347103
- --------------------------------------------------------------------------------
(CUSIP Number)
National Financial Companies, LLC
700 South Federal Highway, Suite 200
Boca Raton, Florida 33432
Attn: Robert W. Barron, Esq.
561-417-0090
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 27, 1996
- --------------------------------------------------------------------------------
(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 [ ].
Check the following box if a fee is being paid with this statement [ ]N/A. (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.)
Note: Six copies of this statement, including all exhibits,
should be filed with the commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
* 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>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
The SIII Associates Limited Partnership
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 201,854
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Third Addison Park Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 201,854
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Gary L. Shapiro
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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 201,854
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Keith B. Stein
- --------------------------------------------------------------------------------
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 68,343
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Robert W. Barron
- --------------------------------------------------------------------------------
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 37,120
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Adam Frieman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 11,642
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Stephen L. Gurba
- --------------------------------------------------------------------------------
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 90,712
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Peter Offermann
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 11,642
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Joseph Huston
- --------------------------------------------------------------------------------
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 7,761
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Jan Sirota
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 11,642
SHARES
--------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
--------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Neal Polan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 11,642
SHARES
--------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
--------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 233347103
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Michael Zarriello
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 11,642
SHARES
--------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
--------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,000,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
1,000,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
Item 1. Security and Issuer
This Schedule 13D relates to the Common Stock, par value $.01 per
share (the "Common Stock"), of DVL, Inc., a Delaware corporation (the "Issuer").
The Issuer's principal executive offices are located at 24 River Road, Bogota,
New Jersey 07603.
Item 2. Identity and Background
In addition to the persons filing this Schedule, there are additional
persons with dispositive power over the shares of the Common Stock described
herein, which additional persons filed a joint Schedule 13D with the Securities
and Exchange Commission on December 20, 1996 (the "Other Persons").
One of the persons filing this Schedule is The SIII Associates Limited
Partnership (the "Partnership"). The Partnership is a limited partnership
organized under the laws of the State of Nevada. The principal business of the
Partnership is to hold the Common Stock of the Issuer. Third Addison Park
Corporation is the general partner (the "General Partner") of the Partnership.
The General Partner is a corporation organized under the laws of the State of
Nevada. The principal business of the General Partner is to hold the general
partner interest of the Partnership. The sole shareholder of the General Partner
is Gary L. Shapiro, a natural person. The address of the Partnership's and the
General Partner's principal business and principal office is c/o National
Financial Companies, LLC, 621 N.W. 53rd Street Suite 320, Boca Raton, Florida
33487. Gary L. Shapiro is the chief executive officer and sole director of the
General Partner. During the last five years, none of the Partnership, the
General Partner and Mr. Shapiro has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors). During the last five
years, none of the Partnership, the General Partner and Mr. Shapiro has been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction subjecting them to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities law of finding any violation with respect to such laws. Mr.
Shapiro is a United States citizen.
(a) In addition to The SIII Associates Limited
Partnership, Keith B. Stein, Robert W. Barron,
Adam Frieman, Stephen L. Gurba, Peter Offermann,
<PAGE>
Joseph Huston, Jan Sirota, Neal Polan and Michael
Zarriello are the persons filing this Schedule.
(b) The business address of Messrs. Stein, Huston,
Polan and Zarriello is National Financial
Companies, LLC, 1325 Avenue of the Americas, Suite
1200, New York, New York 10019. The business
address of Messrs. Barron and Gurba is National
Financial Companies, LLC, 621 N.W. 53rd Street,
Suite 320, Boca Raton, Florida 33487. Mr.
Offermann's business address is c/o TLC Beatrice,
9 West 57th Street, Suite 3910, New York, New York
10019. Mr. Sirota's business address is c/o
Raymond James & Associates, 880 Carillon Parkway,
St. Petersburg, Florida 33716. Mr. Frieman's
address is c/o UBS Securities, 299 Park Avenue,
29th Floor, New York, New York 10171.
(c) Messrs. Stein, Barron, Huston, Polan,
Zarriello and Gurba are presently Managing
Directors of National Financial Companies,
LLC. The principal business of National
Financial Companies, LLC is equity
investments in, and the operation of, middle-
market companies and business and real estate
ventures. National Financial Companies, LLC
has two offices:
1325 Avenue of the Americas, Suite 1200
New York, New York 10019; and
621 N.W. 53rd Street, Suite 320
Boca Raton, Florida 33487
Mr. Offermann is presently the Chief
Financial Officer of TLC Beatrice. TLC
Beatrice is a holding company of diversified
businesses. The address of TLC Beatrice is 9
West 57th Street, Suite 3910, New York, New
York 10019. Mr. Frieman is presently an
officer of UBS Securities, Inc. UBS
Securities, Inc. is a securities brokerage
firm. The address of UBS Securities, Inc. is
299 Park Avenue, 29th Floor, New York, New
York 10171. Mr. Sirota is presently an
officer of Raymond James & Associates.
Raymond James & Associates is a securities
brokerage firm. The address of Raymond James
& Associates is: 880 Carillon Parkway, St.
Petersburg, Florida 33716.
<PAGE>
(d) During the last five years, none of Messrs. Stein, Barron,
Frieman, Gurba, Offermann, Huston, Sirota, Polan and
Zarriello has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) During the last five years, none of Messrs.
Stein, Barron, Frieman, Gurba, Offermann,
Huston, Sirota, Polan and Zarriello has been
a party to a civil proceeding of a judicial
or administrative body of competent
jurisdiction subjecting them to a judgment,
decree or final order enjoining future
violations of, or prohibiting or mandating
activities subject to, federal or state
securities law of finding any violation with
respect to such laws.
(f) Messrs. Stein, Barron, Frieman, Gurba,
Offermann, Huston, Sirota, Polan and
Zarriello are United States citizens.
Item 3. Source and Amount of Funds or Other Consideration
The persons filing this Schedule and the Other Persons acquired an
aggregate of 1,000,000 shares of Common Stock for an aggregate purchase price of
$200,000. The source of funds for the purchase of shares of Common Stock by the
Partnership was working capital of such entity. For each of the individuals
filing this Schedule, the sources of funds for such person's purchase of shares
of the Common Stock were personal funds and/or loans from Gary L. Shapiro (or
his affiliates). Each of such loans provided, inter alia, the following terms:
(i) the principal of the loan bears interest at the rate of 8% per annum, (ii)
the principal amount of such loan and interest accrued thereon are payable in
full in 2015 and (iii) there are mandatory prepayments of any proceeds from
Common Stock and warrants of the Company held by borrower under such loan.
<PAGE>
Item 4. Purpose of Transaction
As described in the Proxy Statement dated and filed with the
Securities and Exchange Commission on July 31, 1996, on September 27, 1996, the
Issuer consummated a multi-faceted transaction pursuant to which: (i) certain
existing indebtedness of the Issuer was acquired by NPM Capital LLC, a Delaware
limited liability company; (ii) 1,000,000 shares of the Common Stock were issued
to, and purchased by, the persons filing this Schedule and the Other Persons;
(iii) the Certificate of Incorporation of the Issuer was amended to permit the
issuance of warrants, to limit change of ownership of capital stock of the
Issuer and to designate Preferred Stock together with rights, powers and
preferences (including the appointment of a special purpose director); (iv)
warrants to purchase additional shares of Common Stock were issued, inter alia,
to, or for the benefit of, the persons filing this Schedule and the Other
Persons; (v) 100 shares of preferred stock were issued to the General Partner;
and (vi) most, but not all, convertible securities and warrants existing and
outstanding prior to this transaction were converted into common stock. Other
than as described or referenced herein, none of the persons filing this Schedule
has any present plans or proposals of the type required to be disclosed in this
Item.
Item 5. Interest in Securities of the Issuer
(a) The aggregate number of shares of Common Stock beneficially owned
by each of the persons filing this Schedule as of the date of
this Schedule is 1,000,000 shares, or 6.5% of the outstanding
Common Stock.
(b) As of the date of this Schedule, the Partnership possesses the
sole power to vote 201,854 shares of Common Stock, and it shares
the power to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, the General Partner, as general
partner of the Partnership, possesses the power to vote 201,854
shares of Common Stock, and it shares the power to dispose of
1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Shapiro, as the chief
executive officer of the General Partner, possesses the power to
vote 201,854 shares of Common Stock, and it shares the power to
dispose of 1,000,000 shares of Common Stock.
<PAGE>
As of the date of this Schedule, Mr. Stein possesses the sole
power to vote 68,343 shares of Common Stock, and he shares the
power to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Barron possesses the sole
power to vote 37,120 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Frieman possesses the sole
power to vote 11,642 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Gurba possesses the sole
power to vote 90,712 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Offermann possesses the sole
power to vote 11,642 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Huston possesses the sole
power to vote 7,761 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Sirota possesses the sole
power to vote 11,642 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Polan possesses the sole
power to vote 11,642 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
As of the date of this Schedule, Mr. Zarriello possesses the sole
power to vote 11,642 shares of Common Stock, and he shares the
powers to dispose of 1,000,000 shares of Common Stock.
<PAGE>
(c) None of the persons has effected any transactions
in the class of securities reported on during the
past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
By arrangement among the persons filing this Schedule and the Other
Persons (for the purposes of this paragraph, each a "Holder"), the Holders have
agreed to certain limitations on the disposition of Common Stock and warrants to
purchase shares of Common Stock owned or held by them, which are described
below. The Holders have rights of first refusal/first offer with respect to the
disposition of shares of Common Stock and warrants to purchase shares of Common
Stock held by other Holders (unless the disposition is made to certain specified
affiliates of a Holder). In addition, a Holder may not dispose of any of his or
its shares of Common Stock (except to another Holder or certain specified
affiliates of a Holder) for one and one-half years from the date of acquisition.
Thereafter, subject to the above-mentioned rights of first refusal/first offer
and certain other limitations, (i) through the third anniversary of the date of
acquisition, a Holder may dispose of up to one-half (or more subject to the
consent of affiliated Holders) of his or its shares of the Common Stock and (ii)
after such third anniversary, a Holder may dispose of all of his or its shares
of the Common Stock. A Holder may not dispose of his or its warrants to purchase
shares of Common Stock (except to another Holder or certain specified affiliates
of a Holder) or convert, exercise or exchange any of such warrants for a period
of three years from the date of acquisition. After the third anniversary of the
date of acquisition, subject to the above-mentioned rights of first
refusal/first offer and certain other limitations, a Holder may dispose of up to
49.9% (or more subject to the consent of affiliated Holders) of his or its
shares of the Common Stock represented by his or its warrants to purchase shares
of Common Stock after giving effect to conversion, exercise or exchange of such
warrants. In certain circumstances, a Holder may be required to dispose of its
shares of Common Stock and warrants to purchase shares of Common Stock to other
Holders. The foregoing limitations may be waived with the consent of Holders
holding two-thirds of the Common Stock and warrants to purchase shares of Common
Stock (after giving effect to their conversion, exercise or exchange) held by
all Holders.
<PAGE>
Item 7. Material to Be Filed as Exhibits
A joint filing agreement among the signatories to this Schedule 13D is
filed as Exhibit 1 hereto.
Forms of documents and agreements relating to the transaction
described in Item 4 are annexed to the Proxy Statement of the Issuer dated and
filed with the Securities and Exchange Commission on July 31, 1996 and
incorporated herein by this reference and not provided with the filing of this
Schedule 13D.
<PAGE>
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.
Date: 2/28/97
Signature: /s/ Keith B. Stein
----------------------------------
Name: KEITH B. STEIN
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.
Date: 3/28/97
Signature: /s/ Stephen L. Gurba
----------------------------------
Name: STEPHEN L. GURBA
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.
Date: 2/28/97
Signature: /s/ Joseph Huston
----------------------------------
Name: JOSEPH HUSTON
<PAGE>
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.
Date: 3/5/97
Signature: /s/ Neal Polan
----------------------------------
Name: NEAL POLAN
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.
Date: 2/28/97
THE SIII ASSOCIATES LIMITED PARTNERSHIP
By: Third Addison Park Corporation,
its general partner
By: /s/ Gary L. Shapiro
---------------------------------
Name: GARY L. SHAPIRO
Title: President
<PAGE>
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.
Date: 2/28/97
THIRD ADDISON PARK CORPORATION
By: /s/ Gary L. Shapiro
-------------------------------
Name: GARY L. SHAPIRO
Title: President
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.
Date: 2/28/97
Signature: /s/ Gary L. Shapiro
----------------------------------
Name: GARY L. SHAPIRO
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.
Date: March 1, 1997
Signature: /s/ Robert W. Barron
----------------------------------
Name: ROBERT W. BARRON
<PAGE>
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.
Date: March 3, 1997
Signature: /s/ Peter Offerman
----------------------------------
Name: PETER OFFERMAN
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.
Date: March 4, 1997
Signature: /s/ Jan Sirota
----------------------------------
Name: JAN SIROTA
<PAGE>
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.
Date: 2/28/97
Signature: /s/ Michael Zarriello
----------------------------------
Name: MICHAEL ZARRIELLO
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.
Date: 2/28/97
Signature: /s/ Adam Frieman
----------------------------------
Name: ADAM FRIEMAN
<PAGE>
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning him or her contained therein, but shall not be
responsible for the completeness and accuracy of the information concerning the
other, except to the extent that such person knows or has reason to believe that
such information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.
Dated: March 28, 1997
/s/ Stephen L. Gurba
----------------------------------
STEPHEN L. GURBA
/s/ Peter Offermann
----------------------------------
PETER OFFERMANN
/s/ Joseph Huston
----------------------------------
JOSEPH HUSTON
/s/ Jan Sirota
----------------------------------
JAN SIROTA
/s/ Neal Polan
----------------------------------
NEAL POLAN
/s/ Michael Zarriello
----------------------------------
MICHAEL ZARRIELLO
/s/ Adam Frieman
----------------------------------
ADAM FRIEMAN
<PAGE>
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(f)(1)
Signature page 2
THE SIII ASSOCIATES LIMITED PARTNERSHIP
By: Third Addison Park Corporation,
its general partner
By: /s/ Gary L. Shapiro
----------------------------------
Name: Gary L. Shapiro
Title: President
THIRD ADDISON PARK CORPORATION
By: /s/ Gary L. Shapiro
----------------------------------
Name: Gary L. Shapiro
Title: President
/s/ Gary L. Shapiro
----------------------------------
GARY L. SHAPIRO
/s/ Keith B. Stein
----------------------------------
KEITH B. STEIN
/s/ Robert W. Barron
----------------------------------
ROBERT W. BARRON
