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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
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)
February 20, 1997
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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: [ ].
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).
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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 900,229
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING ------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 900,229
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
900,229
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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)
11.0%
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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.
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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 1,110,129
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING ------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,110,129
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10 SHARED DISPOSITIVE POWER
430,700
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,540,829
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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)
18.7%
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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.
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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 1,110,129
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING ------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,110,129
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10 SHARED DISPOSITIVE POWER
430,700
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,540,829
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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)
18.7%
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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.
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Amendment No. 2 to
Schedule 13D
Florafax International, Inc.
This Amendment No. 2 to the Statement on Schedule 13D (as defined below)
amends and supplements the Statement on Schedule 13D filed on September 13,
1996 (the "Schedule 13D") and Amendment No. 1 to Schedule 13D filed on
November 27, 1996, 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 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 900,229 shares (11.0%)
of Common Stock.
Laifer Capital Management, Inc. is the beneficial owner of 1,540,829
shares (18.7%) of Common Stock. The 1,540,829 shares of Common Stock
beneficially owned by Laifer Capital Management, Inc. includes:
(i) 900,229 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) 640,600 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").
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 November 30, 1996 there were 8,220,603 shares of Common Stock
of the Issuer outstanding as reported by the Issuer in its Quarterly Report on
Form 10-QSB for the period ended November 30, 1996.
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(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 900,229 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
900,229 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
209,900 shares of Common Stock owned by Offshore and (ii) has the power to
dispose and direct the disposition of 430,700 shares of Common Stock owned by
Laifer Capital Management, Inc. in its capacity as Investment Advisor to
Wolfson.
(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 open market
purchases.
(d) Not applicable.
(e) Not applicable.
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Dated: February 26, 1997 HILLTOP PARTNERS, L.P.
By: LAIFER CAPITAL MANAGEMENT, INC.,
as General Partner
By: /s/Lance Laifer
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Lance Laifer
President
LAIFER CAPITAL MANAGEMENT, INC.
By: /s/Lance Laifer
----------------------------
Lance Laifer
President
/s/Lance Laifer
----------------------------
Lance Laifer
Page 8
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ANNEX A
<TABLE>
<CAPTION>
LAIFER HILLTOP WOLFSON OFFSHORE
DATE PRICE COMMISSION NET PRICE # SHARES # SHARES # SHARES # SHARES
<S> <C> <C> <C> <C> <C> <C> <C>
12/31/96 $2.5000 $0.06 $2.5600 700 700 0 0
01/09/97 2.5164 0.03 2.5464 11,200 5,800 3,500 1,900
01/10/97 2.6875 0.05 2.7375 2,000 1,100 500 400
01/15/97 2.6875 0.00 2.6875 5,000 2,700 1,400 900
01/16/97 2.6875 0.00 2.6875 5,000 2,700 1,400 900
01/17/97 2.6800 0.06 2.7400 5,000 2,700 1,400 900
01/17/97 2.6875 0.00 2.6875 5,000 2,700 1,400 900
01/20/97 2.6875 0.00 2.6875 10,000 5,100 3,200 1,700
01/23/97 2.8125 0.03 2.8425 15,000 7,700 4,700 2,600
02/05/97 3.0625 0.05 3.1125 5,000 2,700 1,400 900
02/07/97 3.1250 0.05 3.1750 5,000 2,700 1,400 900
02/10/97 2.9375 0.00 2.9375 10,000 5,100 3,200 1,700
02/11/97 3.1250 0.05 3.1750 5,000 2,700 1,400 900
02/20/97 3.0000 0.00 3.0000 10,000 5,100 3,200 1,700
</TABLE>
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