UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
Florafax International, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
33982510
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(CUSIP Number)
Mr. Lance Laifer With a copy to:
Laifer Capital Management, Inc. Gerald Adler, Esq.
Hilltop Partners, L.P. Shereff, Friedman, Hoffman & Goodman, LLP
45 West 45th Street 919 Third Avenue
New York, New York 10036 New York, New York 10022
(212) 921-4139 (212) 758-9500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 19, 1996
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(Date of Event which Requires Filing of
this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this statement because of Rule 13d-1(b) (3) or (4), check the
following: [ ].
Check the following box if a fee is being paid with this statement: [ ]. (A
fee is not required only if the reporting 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 less than five percent 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
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).
<PAGE>
SCHEDULE 13D
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CUSIP No. 33982510 Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hilltop Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 850,729
BENEFICIALLY |---------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING |---------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 850,729
|---------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
850,729
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4%
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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
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CUSIP No. 33982510 Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Laifer Capital Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 1,044,329
BENEFICIALLY |---------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING |---------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 1,044,329
|---------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 402,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,446,929
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.6%
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14 TYPE OF REPORTING PERSON*
CO, IA
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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
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CUSIP No. 33982510 Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lance Laifer
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(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
Delaware
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NUMBER OF | 7 SOLE VOTING POWER
SHARES | 1,044,329
BENEFICIALLY |---------------------------------------------------------------
OWNED BY | 8 SHARED VOTING POWER
EACH | 0
REPORTING |---------------------------------------------------------------
PERSON | 9 SOLE DISPOSITIVE POWER
WITH | 1,044,329
|---------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 402,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,446,929
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.6%
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14 TYPE OF REPORTING PERSON*
IN
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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>
Amendment No. 1 to
Schedule 13D
Florafax International, Inc.
This Amendment No. 1 to the Statement on Schedule 13D (as defined
below) amends and supplements the Statement on Schedule 13D relating to the
event date of September 6, 1996 (the "Schedule 13D") filed by Hilltop
Partners, L.P., Laifer Capital Management, Inc. and Lance Laifer
(collectively, the "Reporting Persons") relating to the common stock (the
"Common Stock") of Florafax International, Inc. (the "Issuer"). Capitalized
terms used herein and not defined herein shall have the meaning assigned
thereto in the Schedule 13D. The address of the Issuer is 8075 20th Street,
Vero Beach, Florida 32966.
Item 3. Source and Amount of Funds.
Item 3 is amended to add the following information:
The source of the funds used by Hilltop to purchase the securities of
the Issuer was working capital. The source of the funds used by Laifer Capital
Management, Inc. to purchase the securities of the Issuer was (i) the working
capital of Hilltop and (ii) the working capital or other funds of its various
investment advisory clients listed in the transaction records attached hereto
as Annex A. Jeffrey Eisenberger, one of the Covered Persons, purchased 2,000
shares of Common Stock on October 31, 1996 using $5,549.60 of his personal
funds.
Item 5. Interest in Securities of Issuer.
Item 5 is amended and restated in its entirety to read as follows:
(a) Hilltop is the beneficial owner of 850,729 shares (10.4%) Common
Stock.
Laifer Capital Management, Inc. is the beneficial owner of 1,446,929
shares (17.6%) of Common Stock. The 1,446,929 shares of Common Stock
beneficially owned by Laifer Capital Management, Inc. includes:
(i) 850,729 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as General Partner and Investment
Advisor to Hilltop, which shares have been described in the previous
paragraph; and
(ii) 596,200 shares of Common Stock beneficially owned by Laifer
Capital Management, Inc. in its capacity as Investment Advisor to various
other clients. These clients include: (a) Wolfson, with an address at One
State Street Plaza, New York, New York 10004-1505, and (b) Offshore, a Cayman
Islands company, with an address c/o Consolidated Fund Management Limited,
P.O. Box HM 2257, Par La Ville Place, 14 Par La Ville Road, Hamilton HMJX,
Bermuda (collectively, the "Clients").
Page 6
<PAGE>
Lance Laifer, as president, sole director and principal stockholder
of Laifer Capital Management, Inc., is deemed to have the same beneficial
ownership as Laifer Capital Management, Inc.
The number of shares beneficially owned by the Reporting Persons and
the percentage of outstanding shares represented thereby have been computed in
accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended. As of October 10, 1996, there were 8,209,727 shares of Common Stock
of the Issuer outstanding as reported by the Issuer in its Annual Report on
Form 10-KSB for the period ended August 31, 1996.
(b) Hilltop has the sole power (i) to vote or to direct the voting of
and (ii) to dispose and to direct the disposition of the 850,729 shares of
Common Stock beneficially owned by it. Hilltop's power to vote and dispose of
its shares rests with Laifer Capital Management, Inc., in its capacity as the
General Partner of Hilltop.
Laifer Capital Management, Inc. has the sole power (i) to vote and to
direct the voting of and (ii) to dispose and direct the disposition of the
850,729 shares of Common Stock beneficially owned by it in its capacity as the
General Partner of Hilltop. Laifer Capital Management, Inc. (i) has sole power
to vote and to direct the voting and to dispose and direct the disposition of
193,600 shares of Common Stock owned by Offshore and (ii) has the power to
dispose and direct the disposition of 402,600 shares of Common Stock owned by
Laifer Capital Management, Inc. in its capacity as Investment Advisor to the
Clients.
(c) All transactions in the Common Stock effected by the Reporting
Persons during the past sixty days are set forth in Annex A hereto and are
incorporated herein by reference. All such transactions were effected in the
open market. As noted in Item 3 above, one of the Covered Persons purchased
2,000 shares of Common Stock on October 31, 1996.
(d) Not applicable.
(e) Not applicable.
Page 7
<PAGE>
Dated: November 27, 1996 HILLTOP PARTNERS, L.P.
By:LAIFER CAPITAL MANAGEMENT, INC.,
as General Partner
By: /s/Lance Laifer
--------------------------
Lance Laifer
President
LAIFER CAPITAL MANAGEMENT, INC.
By: /s/Lance Laifer
--------------------------
Lance Laifer
President
/s/Lance Laifer
--------------------------
Lance Laifer
Page 8
<PAGE>
ANNEX A
<TABLE>
<CAPTION>
LAIFER HILLTOP WOLFSON OFFSHORE HAUSSMAN
DATE TYPE* PRICE COMMISSION NET PRICE # SHARES # SHARES # SHARES # SHARES # SHARES
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
09/25/96 B $2.25 $0.03 $2.28 2,000 1,100 400 300 200
09/25/96 B 2.125 0.03 2.155 2,600 1,500 600 300 200
10/14/96 S 2.125 0.03 2.095 2,600 0 2,600 0 0
10/16/96 B 2.375 0.00 2.375 10,000 2,600 5,200 1,300 900
10/17/96 B 2.375 0.00 2.375 40,000 21,500 9,700 5,300 3,500
10/18/96 B 2.375 0.00 2.375 14,000 7,500 3,600 1,800 1,100
10/31/96 B 2.7448 0.03 2.7748 10,000 5,600 2,200 1,300 900
11/19/96 B 2.5625 0.0250 2.5875 117,200 73,400 27,300 16,500 0
11/19/96 S 2.5625 0.0250 2.5375 117,200 0 0 0 117,200
</TABLE>
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* B - open market purchase
S - open market sale
