SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
TRIDENT ROWAN GROUP, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
89614K-10-6
------------------
(CUSIP Number)
Copy to:
Applewood Associates, L.P. 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 Persons
Authorized to Receive Notices and Communications)
June 6, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing 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 space__.
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
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 ("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).
(Continued on following page(s))
Page 1 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Partners
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(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
140,000 shares 2.7%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 73,000 shares 1.4%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 140,000 shares 2.7%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
73,000 shares 1.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
213,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* PF, 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 United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
50,000 shares 1.0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 423,000 shares 8.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 50,000 shares 1.0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
423,000 shares 8.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
473,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(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 United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 213,000 shares 4.1%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
213,000 shares 4.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
213,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Rubenstein Family Limited Partnership
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(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
20,000 shares 0.4%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 193,000 shares 3.7%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 20,000 shares 0.4%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
193,000 shares 3.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
213,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Marilyn and Barry Rubenstein Family Foundation
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(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*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Brian Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(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
3,000 shares 0.1%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 0 shares 0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 3,000 shares 0.1%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
3,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Applewood Associates, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
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
260,000 shares 5.0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 0 shares 0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 260,000 shares 5.0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
260,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC, PF
- --------------------------------------------------------------------------------
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
20,000 shares 0.4%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 260,000 shares 5.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 20,000 shares 0.4%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
260,000 shares 5.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
280,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.4%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC, PF
- --------------------------------------------------------------------------------
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
20,000 shares 0.4%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 260,000 shares 5.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 20,000 shares 0.4%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
260,000 shares 5.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
280,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.4%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Applewood Capital Corp.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
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 260,000 shares 5.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
260,000 shares 5.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
260,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jonathan Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
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 260,000 shares 5.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
260,000 shares 5.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
260,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 28 Pages
<PAGE>
CUSIP
No. 89614K-10-6 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seth Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
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 260,000 shares 5.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
260,000 shares 5.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
260,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
5.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 28 Pages
<PAGE>
This statement, dated as of June 6, 1997, relates to the reporting
persons' ownership of shares of Common Stock and Redeemable Common Stock
Purchase Warrants of Trident Rowan Group, Inc. (the "Issuer"). On June 5, 1997,
the Issuer offered 1,250,000 shares of Common Stock and 1,250,000 Redeemable
Common Stock Purchase Warrants to the public in a public offering (the
"Offering").
ITEM 1. Security and Issuer
(a) Common Stock, $0.01 par value per share (the "Common Stock")
(CUSIP No. 89614K-10-6).
(b) Redeemable Common Stock Purchase Warrant (the "Warrant"),
expiring on June 5, 2002, entitling the holder thereof to purchase one share of
Common Stock at $7.20 per share (subject to adjustment in certain
circumstances), exercisable as of June 5, 1997, the date of the Prospectus
included in the Registration Statement registering the Common Stock and Warrants
of the Issuer (CUSIP No. 89614K-11-4).
(c) Trident Rowan Group, Inc.
Two Worlds Fair Drive
Franklin Township
Somerset, New Jersey 08873
ITEM 2. Identity and Background
1. (a) Woodland Partners, a general partnership organized under the
laws of the State of New York.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments.
(d) No.
(e) No.
The general partners of Woodland Partners are Barry Rubenstein
and Marilyn Rubenstein (husband and wife).
2. (a) Barry Rubenstein, a general partner of Woodland Partners, The
Rubenstein Family Limited Partnership and Applewood Associates, L.P., a Trustee
of The Marilyn and Barry Rubenstein Family Foundation, and a shareholder, an
officer and director of Applewood Capital Corp.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
Page 14 of 28 Pages
<PAGE>
(c) Principal Occupation: General Partner of partnerships and
limited partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States
Barry Rubenstein is the husband of Marilyn Rubenstein and the
father of Brian Rubenstein.
3. (a) Marilyn Rubenstein, a general partner of Woodland Partners and
The Rubenstein Family Limited Partnership, and a Trustee of The Marilyn and
Barry Rubenstein Family Foundation.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Housewife
(d) No.
(e) No.
(f) Citizenship: United States
Marilyn Rubenstein is the wife of Barry Rubenstein and the
mother of Brian Rubenstein.
4. (a) The Rubenstein Family Limited Partnership, a limited partnership
organized under the laws of the State of New York (the "Rubenstein
Partnership").
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments.
(d) No.
(e) No.
Barry Rubenstein and Marilyn Rubenstein are the two general partners
of the Rubenstein Partnership.
5. (a) The Marilyn and Barry Rubenstein Family Foundation, an
organization which is exempt from federal income taxation pursuant to Section
501(a) of the Internal Revenue Code of 1986, as amended (the "Foundation").
Page 15 of 28 Pages
<PAGE>
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Charitable Foundation.
(d) No.
(e) No.
Barry Rubenstein, Marilyn Rubenstein, and Brian Rubenstein are
the Trustees of the Foundation.
6. (a) Brian Rubenstein, one of the Trustees of The Marilyn and Barry
Rubenstein Family Foundation.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Corporate Finance Staff Analyst
(d) No.
(e) No.
(f) Citizenship: United States.
Brian Rubenstein is the son of Barry Rubenstein and Marilyn
Rubenstein.
7. (a) Applewood Associates, L.P., a limited partnership organized
under the laws of the State of New York ("Applewood").
(b) Address:
c/o Applewood Capital Corp.
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments.
(d) No.
(e) No.
The general partners of Applewood are Applewood Capital Corp.,
Barry Rubenstein, Irwin Lieber and Barry Fingerhut.
8. (a) Irwin Lieber, a general partner of Applewood and a shareholder,
an officer and director of Applewood Capital Corp.
Page 16 of 28 Pages
<PAGE>
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment advisor.
(d) No.
(e) No.
(f) Citizenship: United States
9. (a) Barry Fingerhut, a general partner of Applewood and a
shareholder, an officer and director of Applewood Capital Corp.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment advisor.
(d) No.
(e) No.
(f) Citizenship: United States
10. (a) Applewood Capital Corp., a corporation organized under the laws
of the State of New York ("AC Corp.").
(b) Address:
c/o Barry Rubenstein
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Investments.
(d) No.
(e) No.
AC Corp. is a general partner of Applewood.
11. (a) Jonathan Lieber, is an officer of AC Corp.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investments.
Page 17 of 28 Pages
<PAGE>
(d) No.
(e) No.
(f) Citizenship: United States
12. (a) Seth Lieber, is an officer of AC Corp.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
(f) Citizenship: United States
ITEM 3. Source and Amounts of Funds or Other Consideration
The individual reporting persons obtained funds for the purchase of
the Common Stock and Warrants from their respective personal funds, working
capital and/or other funds, the partnerships and corporation obtained funds for
the purchase of the Common Stock and Warrants from their respective working
capital and/or other funds and the Foundation obtained funds for the purchase of
the Common Stock and Warrants from its other funds.
The amount of funds used in making the purchases of the Common Stock
and Warrants in the Offering and in the over-the-counter market are set forth
below:
Page 18 of 28 Pages
<PAGE>
Name Amount of Consideration
---- -----------------------
Woodland Partners $ 547,500
Barry Rubenstein Rollover IRA $ 303,125
The Rubenstein Family Limited Partnership $ 61,000
The Marilyn and Barry Rubenstein
Family Foundation $ 152,500
Brian Rubenstein $ 18,300
Applewood Associates, L.P. $1,261,250
Irwin Lieber $ 115,000
Barry Fingerhut $ 115,000
ITEM 4. Purpose of Transaction.
The reporting persons acquired their shares for purposes of
investment. The reporting persons do not have any plans or proposals which
relate to or would result in any of the actions set forth in subparagraphs (a)
through (j) of Item 4 of the Schedule 13D.
ITEM 5. Interests in Securities of Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 5,152,540 shares of Common Stock outstanding as reported by
the Issuer in its Prospectus, dated June 5, 1997, and does not include the
187,500 shares of Common Stock and 187,500 Warrants issuable upon the exercise
of the underwriter's over-allotment option) of outstanding shares of Common
Stock beneficially owned by each reporting person named in Item 2, as of June 9,
1997:
Page 19 of 28 Pages
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(1) Beneficially Owned(1)
- ---- --------------------- ---------------------
Woodland Partners 213,000(2)(3) 4.1%
Barry Rubenstein 473,000(2)(4) 9.0%
Marilyn Rubenstein 213,000(2)(3) 4.1%
The Rubenstein Family
Limited Partnership 213,000(2)(3) 4.1%
The Marilyn and Barry Rubenstein
Family Foundation 0 0%
Brian Rubenstein 3,000 0.4%
Applewood Associates, L.P. 260,000(5) 5.0%
Barry Fingerhut 280,000(2)(5)(6) 5.4%
Irwin Lieber 280,000(2)(5)(6) 5.4%
Applewood Capital Corp. 260,000(2)(5) 5.0%
Seth Lieber 260,000(2)(5) 5.0%
Jonathan Lieber 260,000(2)(5) 5.0%
- ----------
1 Includes shares of Common Stock issuable upon the exercise of the
Warrants.
2 The reporting person disclaims beneficial ownership of these securities,
except to the extent of his, hers or its equity interest therein.
3 Includes 153,000 shares of Common Stock and 60,000 shares of Common Stock
issuable upon the exercise of the Warrants.
4 Includes 353,000 shares of Common Stock and 120,000 shares of Common Stock
issuable upon the exercise of the Warrants.
5 Includes 200,000 shares of Common Stock and 60,000 shares of Common Stock
issuable upon the exercise of the Warrants.
6 Includes 20,000 shares of Common Stock.
(b) Woodland Partners has sole power to vote and to dispose of 90,000
shares of Common Stock and 50,000 shares of Common Stock issuable upon the
exercise of the Warrants, representing approximately 2.7% of the outstanding
Common Stock, and may be deemed to have shared power to vote and to dispose of
63,000 shares of Common Stock and 10,000 shares of Common Stock issuable upon
the exercise of Warrants, representing approximately 1.4% of the outstanding
Common Stock.
Barry Rubenstein, by virtue of being a general partner of Woodland
Partners, Applewood Associates, and the Rubenstein Partnership, husband of
Marilyn Rubenstein, father of Brian Rubenstein and a shareholder, an officer and
director of AC Corp., may be deemed to have shared power to vote and to dispose
of 303,000 shares of Common Stock and 120,000 shares of Common Stock issuable
upon the exercise of Warrants, representing approximately 8.0% of the
outstanding Common Stock. Barry Rubenstein has sole power to vote and to dispose
of 50,000 shares of Common Stock currently held in his Rollover IRA account,
representing approximately 1.0% of the outstanding Common Stock.
Marilyn Rubenstein, by virtue of being a general partner of Woodland
Partners and the Rubenstein Partnership, wife of Barry Rubenstein and mother of
Brian Rubenstein, may be deemed to have shared power to vote and to dispose of
153,000 shares of Common Stock and 60,000 shares of Common Stock issuable upon
the exercise of the Warrants, representing approximately 4.1% of the outstanding
Common Stock.
Page 20 of 28 Pages
<PAGE>
The Rubenstein Partnership has the sole power to vote and to dispose
of 10,000 shares of Common Stock and 10,000 shares of Common Stock issuable upon
the exercise of the Warrants, and may be deemed to have shared power to vote and
to dispose of 143,000 shares of Common Stock and 50,000 shares of Common Stock
issuable upon the exercise of the Warrants.
Brian Rubenstein has the sole power to vote and to dispose of 3,000
shares of Common Stock, representing approximately 0.1% of the outstanding
Common Stock.
Applewood Associates, L.P. has sole power to vote and to dispose of
200,000 shares of Common Stock and 60,000 shares of Common Stock issuable upon
the exercise of Warrants, representing approximately 5.0% of the outstanding
Common Stock.
Barry Fingerhut, by virtue of being a general partner of Applewood
and a shareholder, an officer and director of AC Corp., may be deemed to have
shared power to vote and to dispose of 200,000 shares of Common Stock and 60,000
shares of Common Stock issuable upon the exercise of the Warrants, representing
approximately 5.0% of the outstanding Common Stock. Barry Fingerhut has sole
power to vote and to dispose of 20,000 shares of Common Stock, representing
approximately 0.4% of the outstanding Common Stock.
Irwin Lieber, by virtue of being a general partner of Applewood and
a shareholder, an officer and director of AC Corp., may be deemed to have shared
power to vote and to dispose of 200,000 shares of Common Stock and 60,000 shares
of Common Stock issuable upon the exercise of the Warrants, representing
approximately 5.0% of the outstanding Common Stock. Irwin Lieber has sole power
to vote and to dispose of 20,000 shares of Common Stock, representing
approximately 0.4% of the outstanding Common Stock.
Applewood Capital may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, and 60,000 shares of Common Stock
issuable upon the exercise of the Warrants, representing approximately 5.0% of
the outstanding Common Stock.
Jonathan Lieber, by virtue of being an officer of AC Corp., may be
deemed to have shared power to vote and to dispose of 200,000 shares of Common
Stock and 60,000 shares of Common Stock issuable upon the exercise of the
Warrants, representing approximately 5.0% of the outstanding Common Stock.
Seth Lieber, by virtue of being an officer of AC Corp., may be
deemed to have shared power to vote and to dispose of 200,000 shares of Common
Stock and 60,000 shares of Common Stock issuable upon the exercise of the
Warrants, representing approximately 5.0% of the outstanding Common Stock.
Page 21 of 28 Pages
<PAGE>
(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 April 6, 1997 through June 9, 1997, inclusive:
Number of shares of Purchase or
Common Stock(C) Sales Price
Purchase or or Warrants(W) Per Share or
Name of Shareholder Sale Date Purchased or (Sold) Per Warrant
- ------------------- --------- ------------------- -----------
Woodland Partners 6/6/97 50,000(C)* $6.00
6/6/97 50,000(W)* $0.10
6/6/97 40,000(C)** $6.06
The Rubenstein 6/6/97 10,000(C)* $6.00
Family L.P. 6/6/97 10,000(W)* $0.10
The Marilyn and Barry 6/6/97 25,000(C)* $6.00
Rubeinstein Family 6/6/97 25,000(W)* $0.10
Foundation 6/6/97 (25,000)(C)** $6.00
6/6/97 (25,000)(W)** $ .94
Brian Rubenstein 6/6/97 3,000(C)* $6.00
6/6/97 3,000(W)* $0.10
6/6/97 (3,000)(W)** $ .94
Applewood Associates, L.P. 6/6/97 200,000(C)** $6.06
6/6/97 60,000(W)** $ .81
Barry Rubenstein 6/6/97 50,000(C)** $6.06
R/O IRA
Irwin Lieber 6/9/97 20,000(C)** $5.75
Barry Fingerhut 6/9/97 20,000(C)** $5.75
* The shares of Common Stock or Warrants were purchased in the Offering.
** The shares of Common Stock or Warrants were purchased or sold 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.
Page 22 of 28 Pages
<PAGE>
ITEM 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
(a) Woodland Partners is a general partnership established and
governed by New York law and a partnership agreement. Pursuant to such
agreement, voting and investment power over the shares of Common Stock held by
Woodland Partners is vested in its general partners - Barry Rubenstein and
Marilyn Rubenstein.
(b) The Rubenstein Partnership is a limited partnership established
and governed by New York law and a partnership agreement. Pursuant to such
agreement, voting and investment power over the shares of Common Stock held by
the Rubenstein Partnership is vested in its general partners - Barry Rubenstein
and Marilyn Rubenstein. The limited partners have no voting or investment power
over the Issuer's shares held by the Rubenstein Partnership.
(c) The Foundation is a charitable trust organized under the laws of
the State of New York. It is exempt from Federal income taxation pursuant to
Section 501(a) of the Internal Revenue Code of 1986, as amended (the "Code"), as
an organization described in Section 501(c)(3) of the Code. Pursuant to a trust
agreement, voting and investment power over the shares of the Common Stock held
by the Foundation is vested in its trustees - Barry Rubenstein, Marilyn
Rubenstein and Brian Rubenstein.
(d) Except for the circumstances discussed or referred to in
paragraph (a) through (c) above, there are no contracts, arrangements,
understandings, or relationships with respect to the securities of the Issuer
among any of the persons reporting in this Schedule 13D.
ITEM 7. Material to be Filed as Exhibits
Exhibit A - Agreement, dated as of June 16, 1997, among the
reporting persons by which they have agreed to file this Schedule 13D and all
necessary amendments, as required by Rule 13d-1(f).
Exhibit B - Power of Attorney, dated June 16, 1997, appointing Barry
Rubenstein as attorney-in-fact for Brian Rubenstein.
Page 23 of 28 Pages
<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
statement is true, correct and complete.
Date: June 16, 1997
APPLEWOOD ASSOCIATES, L.P.
By: /s/ Irwin Lieber
-----------------------------
Irwin Lieber, a General Partner
APPLEWOOD CAPITAL CORP.
By: /s/ Barry Rubenstein
-----------------------------
Barry Rubenstein, President
/s/ Barry Rubenstein
---------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------
Barry Fingerhut
/s/ Jonathan Lieber
---------------------------------
Jonathan Lieber
/s/ Seth Lieber
---------------------------------
Seth Lieber
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 24 of 28 Pages
<PAGE>
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General Partner
THE RUBENSTEIN FAMILY LIMITED
PARTNERSHIP
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein , a General
Partner
THE MARILYN AND BARRY
RUBENSTEIN FAMILY FOUNDATION
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a Trustee
/s/ Marilyn Rubenstein
-------------------------------------
Marilyn Rubenstein
*
-------------------------------------
Brian Rubenstein
* /s/ Barry Rubenstein
- -------------------------------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 25 of 28 Pages
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) promulgated under the Securities Exchange
Act of 1934, as amended, the undersigned hereby agree to the joint filing on
behalf of each of them on a statement on Schedule 13D, including amendments
thereto, with respect to the Common Stock, $.01 par value per share, of Trident
Rowan Group, Inc. and that this Agreement be included as Exhibit to such
Schedule.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this
16th day of June, 1997.
APPLEWOOD ASSOCIATES, L.P.
By: /s/ Irwin Lieber
-----------------------------
Irwin Lieber, a General Partner
APPLEWOOD CAPITAL CORP.
By: /s/ Barry Rubenstein
-----------------------------
Barry Rubenstein, President
/s/ Barry Rubenstein
---------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------
Barry Fingerhut
/s/ Jonathan Lieber
---------------------------------
Jonathan Lieber
/s/ Seth Lieber
---------------------------------
Seth Lieber
Page 26 of 28 Pages
<PAGE>
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General Partner
THE RUBENSTEIN FAMILY LIMITED
PARTNERSHIP
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein , a General
Partner
THE MARILYN AND BARRY
RUBENSTEIN FAMILY FOUNDATION
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a Trustee
/s/ Marilyn Rubenstein
-------------------------------------
Marilyn Rubenstein
*
-------------------------------------
Brian Rubenstein
* /s/ Barry Rubenstein
- -------------------------------------
Barry Rubenstein, Attorney-in-Fact
Page 27 of 28 Pages
<PAGE>
EXHIBIT B
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears
below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 16th day of June,
1997.
/s/ Brian Rubenstein
---------------------------------
Brian Rubenstein
Page 28 of 28 Pages
