UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. )*
GOLFROUNDS.COM, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
38168R108
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(CUSIP Number)
David Alan Miller, Esq.
Graubard Mollen & Miller
600 Third Avenue
New York, New York 10016-2097
Telephone: (212) 818-8800
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 21, 2000
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|_|
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
Page 1 of 16 Pages
Exhibit Index on Page 12
<PAGE>
SCHEDULE 13D
CUSIP No. 38168R108 Page 2 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
The Rachel Beth Heller 1997 Trust Dated 7/9/97
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) X
(b) |_|
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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
New Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 70,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*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. 38168R108 Page 3 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
The Evan Todd Heller 1997 Trust Dated 6/17/97
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) X
(b) |_|
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3 SEC USE ONLY
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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
New Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 70,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*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. 38168R108 Page 4 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Martan & Co.
13-1924455
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) X
(b) |_|
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 70,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
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14 TYPE OF REPORTING PERSON*
CO
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*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. 38168R108 Page 5 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Donehew Fund Limited Partnership
83-0316971
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) X
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
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7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 70,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
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14 TYPE OF REPORTING PERSON*
PN
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*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. 38168R108 Page 6 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Jonathan & Nancy Glaser Family Trust Dated 12/16/98
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) X
(b)
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 40,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
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14 TYPE OF REPORTING PERSON*
OO
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*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. 38168R108 Page 7 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
W. Robert Ramsdell
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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
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 40,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
- --------------------------------------------------------------------------------
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. 38168R108 Page 8 of 16 Pages
- ------------------------- -------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Nagelberg Family Trust Dated 9/24/97
12-2442177
- --------------------------------------------------------------------------------
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
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 949,690 Shares
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 140,000 Shares
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
949,690 Shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
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*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>
CUSIP No. 38168R108 Page 9 of 16 Pages
- ------------------------- -------------------------------
Item 1. Security and Issuer
The class of equity securities to which this statement relates
is the common stock, $.01 par value ("Common Stock"), of GolfRounds.com, Inc., a
Delaware corporation ("Issuer"), whose principal executive offices are located
at 376 Main Street, P.O. Box 74, Bedminster, New Jersey 07921.
The percentages of beneficial ownership reflected in this
Statement are based upon 2,099,491 shares of Common Stock outstanding on January
18, 2000, which number has been obtained directly from the Issuer.
Item 2. Identity and Background
This Schedule 13D is being filed on behalf of The Rachel Beth
Heller 1997 Trust Dated 7/9/97 ("Rachel Beth Heller Trust"), The Evan Todd
Heller 1997 Trust Dated 6/17/97 ("Evan Todd Heller Trust"), Martan & Co.
("Martan"), Donehew Fund Limited Partnership ("Donehew"), Jonathan & Nancy
Glaser Family Trust Dated 12/16/98 ("Glaser Family Trust"), W. Robert Ramsdell
("Ramsdell"), and Nagelberg Family Trust Dated 9/24/97 ("Nagelberg Family
Trust") (individually, each a "Reporting Person" and collectively, the
"Reporting Persons").
The Rachel Beth Heller Trust and the Evan Todd Heller Trust
each have a business address of c/o Lawrence Kupferberg, Trustee, 74 Farview
Road, Tenafly, New Jersey 07670. Martan's business address is 525 Washington
Blvd., 34th Floor, Jersey City, New Jersey 07310. Donehew's business address is
111 Village Parkway, Building #2, Marietta, Georgia 30067. The Glaser Family
Trust has a business address of c/o Jonathan and Nancy Glaser, Trustees, 1999
Avenue of the Stars, Suite 2530, Los Angeles, California 90067. Ramsdell's
residence is 474 Paseo Miramar, Pacific Palisades, California 90272. Nagelberg
Family Trust has a business address of c/o David S. Nagelberg and Bette
Nagelberg, Trustees, P.O. Box 2142, Rancho Santa Fe, California 92067.
The Rachel Beth Heller Trust and the Evan Todd Heller trust
are trusts organized and existing under the laws of the State of New Jersey.
Martan is a corporation organized and existing under the laws of the State of
New Jersey. Donehew is a limited partnership organized and existing under the
laws of the State of Georgia. The Glaser Family Trust is a trust organized and
existing under the laws of the State of California. Ramsdell is an individual
who is a citizen of the United States. The Nagelberg Family Trust is a trust
organized and existing under the laws of the State of California.
None of the Reporting Persons has been convicted in any
criminal proceeding (excluding traffic violations or similar misdemeanors)
during the last five years.
None of the Reporting Persons has been a party to any civil
proceeding of a judicial or administrative body of competent jurisdiction
resulting in any judgment, decree or final order enjoining it from engaging in
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws
during the last five years.
<PAGE>
CUSIP No. 38168R108 Page 10 of 16 Pages
- ------------------------- -------------------------------
Item 3. Source and Amounts of Funds or Other Consideration
Each of the Rachel Beth Heller Trust, the Evan Todd Heller
Trust, the Glaser Family Trust, Ramsdell and the Nagelberg Family Trust used
personal funds to acquire the Common Stock reported upon in this Schedule 13D as
owned by him or it. Each of Martan and Donehew used its working capital to
acquire the Common Stock reported upon in this Schedule 13D as owned by it.
Item 4. Purpose of Transactions
The Reporting Persons have acquired the securities specified
in Item 5 of this Schedule 13D for investment purposes. The Reporting Persons
may undertake one or more of the actions set forth below.
(a) Each of the Reporting Persons may acquire additional securities
from time to time in the market or in private transactions. None of these
persons has any agreements to acquire any additional Common Stock at this time.
(b) Directors of the Issuer designated by the Reporting Persons may
cause the Issuer to pursue a business objective of identifying one or more
operating businesses for acquisition and completing one or more mergers or other
business combinations with such business or businesses. The Reporting Persons
have not identified at this time any business for acquisition and have no
agreements or arrangements for a merger or other business combination.
(c) Directors of the Issuer designated by the Reporting Persons may
cause the Issuer to engage in a private offering of its securities for the
purpose of raising additional working capital.
(d) In connection with the purchase by the Reporting Persons of the
shares of Common Stock reported on in this Schedule 13D as owned by them, the
Reporting Persons entered into an agreement with the Issuer and the three
individuals serving as its directors pursuant to which such three individuals
are resigning as directors and three individuals designated by the Reporting
Persons are becoming directors, in each case effective on February 3, 2000. In
addition, pursuant to the agreement, certain individuals serving as executive
officers of the Issuer are resigning and the new directors are appointing
certain other individuals to serve as executive officers of the Issuer, in each
case effective on February 3, 2000.
Except as discussed above, the Reporting Persons do not have any plans
or proposals to effect any material change in the present capitalization or
dividend policy of the Issuer, cause any other material change in the Issuer's
business or corporate structure, cause any changes in the Issuer's charter or
bylaws or other actions that may impede the acquisition of control of the Issuer
by any person, cause a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted on an
inter-dealer quotation system of a registered national securities association,
cause a class of equity securities of the Issuer to become eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, or take any other action similar to any of those
enumerated above.
<PAGE>
CUSIP No. 38168R108 Page 11 of 16 Pages
- ------------------------- -------------------------------
Item 5. Interest in Securities of the Issuer
The Rachel Beth Heller Trust owns 70,000 shares of Common
Stock directly. The Rachel Beth Heller Trust has shared voting power over
949,690 shares of Common Stock pursuant to the Related Agreement and the proxies
discussed in Item 6. The Rachel Beth Heller Trust is deemed to beneficially own
949,690 shares of Common Stock, representing 45.2% of the outstanding shares of
Common Stock.
The Evan Todd Heller Trust owns 70,000 shares of Common Stock
directly. The Evan Todd Heller Trust has shared voting power over 949,690 shares
of Common Stock pursuant to the Related Agreement and the proxies discussed in
Item 6. The Evan Todd Heller Trust is deemed to beneficially own 949,690 shares
of Common Stock, representing 45.2% of the outstanding shares of Common Stock.
Martan owns 70,000 shares of Common Stock directly. Martan has
shared voting power over 949,690 shares of Common Stock pursuant to the Related
Agreement and the proxies discussed in Item 6. Martan is deemed to beneficially
own 949,690 shares of Common Stock, representing 45.2% of the outstanding shares
of Common Stock.
Donehew owns 70,000 shares of Common Stock directly. Donehew
has shared voting power over 949,690 shares of Common Stock pursuant to the
Related Agreement and the proxies discussed in Item 6. Donehew is deemed to
beneficially own 949,690 shares of Common Stock, representing 45.2% of the
outstanding shares of Common Stock.
The Glaser Family Trust owns 40,000 shares of Common Stock
directly. The Glaser Family Trust has shared voting power over 949,690 shares of
Common Stock pursuant to the Related Agreement and the proxies discussed in Item
6. The Glaser Family Trust is deemed to beneficially own 949,690 shares of
Common Stock, representing 45.2% of the outstanding shares of Common Stock.
Ramsdell owns 40,000 shares of Common Stock directly. Ramsdell
has shared voting power over 949,690 shares of Common Stock pursuant to the
Related Agreement and the proxies discussed in Item 6. Ramsdell is deemed to
beneficially own 949,690 shares of Common Stock, representing 45.2% of the
outstanding shares of Common Stock.
The Nagelberg Family Trust owns 140,000 shares of Common Stock
directly. The Nagelberg Family Trust has shared voting power over 949,690 shares
of Common Stock pursuant to the Related Agreement and the proxies discussed in
Item 6. The Nagelberg Family Trust is deemed to beneficially own 949,690 shares
of Common Stock, representing 45.2% of the outstanding shares of Common Stock.
Together the Reporting Persons have the right to vote an
aggregate of 949,690 shares of Common Stock, representing 45.2% of the
outstanding shares of Common Stock.
<PAGE>
CUSIP No. 38168R108 Page 12 of 16 Pages
- ------------------------- -------------------------------
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to the Securities of the Issuer
On January 18, 2000, six stockholders of the Issuer
("Sellers") entered into a stock purchase agreement ("Stock Purchase Agreement")
with the Reporting Persons pursuant to which the Sellers agreed to sell to the
Reporting Persons an aggregate of 500,000 shares of Common Stock at a price of
$1.375 per share. In connection with the execution of the Stock Purchase
Agreement, the Issuer and its directors, Messrs. Paul O. Koether, John W.
Galuchie, Jr. and Thomas K. Van Herwarde, entered into a related agreement
("Related Agreement") with the Reporting Persons pursuant to which, among other
things, Messrs. Koether, Galuchie and Van Herwarde agreed to resign as directors
and appoint new directors designated by the Reporting Persons. The Reporting
Persons designated Messrs. Robert H. Donehew, Larry Grossman and John F.
McCarthy, III, for appointment to the board of directors of GolfRounds, to take
office upon the resignation of the current directors. Mr. Koether and entities
he controls, including some of the other Sellers, also agreed to give a designee
of the Reporting Persons irrevocable proxies to vote an additional 449,690
shares of the Issuer's common stock that he and such other entities own.
The sale of shares contemplated by the Stock Purchase
Agreement was consummated on January 21, 2000, and on that date the proxies
given by Mr. Koether and certain entities controlled by him to a designee of the
Reporting Persons became effective. The resignations of Messrs. Koether,
Galuchie and Van Herwarde, and the appointment of Messrs. Donehew, Grossman and
McCarthy, will be effective on February 3, 2000.
The Sellers include Asset Value Holdings, Inc., a Delaware
corporation of which Mr. Koether is President and Mr. Galuchie is Treasurer,
Bradford Trading Company, a Delaware corporation, Mr. Koether, Shamrock
Associates, a New Jersey limited partnership of which Mr. Koether is the general
partner, Sun Equities Corporation, a Delaware corporation of which Mr. Koether
is Chairman and Mr. Galuchie is Vice President and a director, and Mr. Van
Herwarde.
The persons or entities who gave proxies to the designee of
the Reporting Persons included Paul O. Koether, Paul O. Koether Individual
Retirement Account, Asset Value Holdings, Inc., Shamrock Associates and Sun
Equities Corporation. The Reporting Persons have designated Donehew Fund Limited
Partnership as their designee to hold the proxies. The proxies give the holder
of the proxies full right of substitution to name any of the other Reporting
Persons to exercise the proxies.
Item 7. Material to be Filed as Exhibits
Exhibit 1: Stock Purchase Agreement, dated January
18, 2000, incorporated by reference to
Exhibit 2.1 of the Issuer's Form 8- K, filed
January 19, 2000.
Exhibit 2: Agreement, dated January 18, 2000,
incorporated by reference to Exhibit 2.2 of
the Issuer's Form 8-K, filed January 19,
2000.
<PAGE>
CUSIP No. 38168R108 Page 13 of 16 Pages
- ------------------------- -------------------------------
Exhibit 3: Joint Filing Agreement, dated January
31, 2000, by and among each of the
Reporting Persons.
<PAGE>
CUSIP No. 38168R108
- -------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: January 31, 2000
THE RACHEL BETH HELLER 1997 TRUST DATED 7/9/97
/s/ Lawrence Kupferberg
By:___________________________________________
Name: Lawrence Kupferberg
Title: Trustee
THE EVAN TODD HELLER 1997 TRUST DATED 6/17/97
/s/ Lawrence Kupferberg
By:____________________________________________
Name: Lawrence Kupferberg
Title: Trustee
MARTAN & CO.
/s/ Michael Silvestri
By:____________________________________________
Name: Michael Silvestri
Title: President
DONEHEW FUND LIMITED PARTNERSHIP
Donehew Capital LLC, General Partner
/s/ Robert H. Donehew
By:_____________________________________________
Name: Robert H. Donehew
Title: Manager, Donehew Capital LLC, General Partner
JONATHAN & NANCY GLASER FAMILY TRUST DATED 12/16/98
/s/ Jonathan Glaser
By:______________________________________________
Name: Jonathan Glaser
Title: Trustee
/s/ W. Robert Ramsdell
_________________________________________________
W. Robert Ramsdell
NAGELBERG FAMILY TRUST DATED 9/24/97
/s/ David S. Nagelberg
By:_______________________________________________
David S. Nagelberg
Trustee
<PAGE>
EXHIBIT 3
JOINT FILING AGREEMENT
AGREEMENT dated as of January 31, 2000, among The Rachel Beth
Heller 1997 Trust Dated 7/9/97, The Evan Todd Heller 1997 Trust Dated 6/17/97,
Martan & Co., Donehew Fund Limited Partnership, Jonathan & Nancy Glaser Family
Trust Dated 12/16/98, W. Robert Ramsdell and the Nagelberg Family Trust Dated
9/24/97 (collectively, the "Parties").
Each of the Parties hereto represents to the other Parties that it
is eligible to use Schedule 13D to report its beneficial interest in shares of
common stock, $.01 par value per share, of GolfRounds.com, Inc. ("Schedule 13D")
and it will file the Schedule 13D on behalf of itself.
Each of the Parties agrees to be responsible for the timely filing
of the Schedule 13D and any and all amendments thereto and for the completeness
and accuracy of the information concerning itself contained in the Schedule 13D,
and the other Parties to the extent it knows or has reason to believe that any
information about the other Parties is inaccurate.
THE RACHEL BETH HELLER 1997 TRUST DATED 7/9/97
/s/ Lawrence Kupferberg
By:___________________________________________
Name: Lawrence Kupferberg
Title: Trustee
THE EVAN TODD HELLER 1997 TRUST DATED 6/17/97
/s/ Lawrence Kupferberg
By:____________________________________________
Name: Lawrence Kupferberg
Title: Trustee
MARTAN & CO.
/s/ Michael Silvestri
By:____________________________________________
Name: Michael Silvestri
Title: President
DONEHEW FUND LIMITED PARTNERSHIP
Donehew Capital LLC, General Partner
/s/ Robert H. Donehew
By:_____________________________________________
Name: Robert H. Donehew
Title: Manager, Donehew Capital LLC, General Partner
JONATHAN & NANCY GLASER FAMILY TRUST DATED 12/16/98
/s/ Jonathan Glaser
By:______________________________________________
Name: Jonathan Glaser
Title: Trustee
<PAGE>
/s/ W. Robert Ramsdell
_________________________________________________
W. Robert Ramsdell
NAGELBERG FAMILY TRUST DATED 9/24/97
/s/ David S. Nagelberg
By:_______________________________________________
David S. Nagelberg
Trustee
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