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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 2 )
BLC FINANCIAL SERVICES, INC.
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(Name of Issuer)
COMMON STOCK 055 490 10 6
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(Title of class of securities) (CUSIP number)
ROBERT F. TANNENHAUSER
BUSINESS LOAN CENTER, INC.
645 MADISON AVENUE
NEW YORK, NY 10022
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(Name, address and telephone number of person authorized to receive
notices and communications)
MARCH 8, 1998
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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
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the 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 five percent or less of
such class.) (See Rule 13d-7.)
Note: When filing this statement in paper form, six copies of this statement,
including exhibits, should be filed with the Commission. See Rule 13d-1(a) for
other parties to whom copies are to be sent.
(Continued on following page(s))
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NYFS12...:\99\26799\0004\1898\SCH4178Y.500
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CUSIP No. 055 490 10 6 13D Page 2 of 5
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1 NAME OF REPORTING PERSON: FUTURONICS CORPORATION
I.R.S. IDENTIFICATION NO. 11-1985337
OF ABOVE PERSON:
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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: NOT APPLICABLE.
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [_]
TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF NEW YORK
ORGANIZATION:
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NUMBER OF 7 SOLE VOTING POWER: 2,609,964
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 2,609,964
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,609,964
REPORTING PERSON:
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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): 13.58%
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14 TYPE OF REPORTING PERSON: CO
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ITEM 1. SECURITY AND ISSUER.
This Statement constitutes Amendment No. 9 to the Statement on
Schedule 13D filed with the Securities and Exchange Commission
("Schedule 13D") with respect to the common stock, $.01 par value
(the "Common Stock"), of BLC Financial Services, Inc., a Delaware
corporation (the "Company"). The principal executive office of the
Company is located at 645 Madison Avenue, New York, New York 10022.
ITEM 2. IDENTITY AND BACKGROUND.
Name of Reporting Person:
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Futuronics Corporation
Place of Organization:
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New York
Principal Business:
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Investments
Address of Principal Business:
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P.O. Box 293
Albertson, New York 11507
Address of Principal Office:
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P.O. Box 293
Albertson, New York 11507
Criminal Proceeding:
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The Reporting Person has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
during the past five years.
Civil Proceeding:
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The Reporting Person has not been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdictions and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violations with respect to such laws
during the past five years.
Page 3 of 5 Pages
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ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION.
Not applicable.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The Reporting Person directly owns 2,609,964 shares.
(b) The Reporting Person has sole voting and dispositive power
with respect to 2,609,964 shares of Common Stock. The Reporting
Person does not have shared voting and dispositive power with
respect to any shares of Common Stock.
(c) On March 8, 1998, the Reporting Person disposed of (i)
250,000 Warrants at $.35 per Warrant, (ii) 250,000 Warrants at $.45
per Warrant and (iii) a $200,000 Convertible Debenture.
(d) Others with right to receive or power to direct the
receipt of dividends from, or proceeds from, the sale of securities:
None.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Not applicable.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Date: May 26, 1998
FUTURONICS CORPORATION
/s/ Peter D. Blanck
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Name: Peter D. Blanck
Title: President
Page 5 of 5 Pages
