UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
Greentree Software, Inc.
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(Name of issuer)
Common Shares, $.04 par value per share
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(Title of class of securities)
395793 20 1
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(CUSIP number)
William S. Smith
c/o Wm Smith & Co., 1700 Lincoln Street,
Suite 3650, Denver, Colorado 80203 (303) 831-9696
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(Name, address and telephone number of person
authorized to receive notices and communications)
OCTOBER 25, 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
schedule because of Rule 13d-1(b)(3) or (4), check the following box .
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))
CUSIP NO. 395793 20 1 13D PAGE 2 OF 9
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Wm Smith & Co.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) [ ]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
Not Applicable. See Item 3 below for additional information.
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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
Colorado
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7 SOLE VOTING POWER
NUMBER OF None.
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY 539,106 shares.
OWNED BY See Item 5 below for additional information.
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None.
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WITH: 10 SHARED DISPOSITIVE POWER
539,106 shares.
See Item 5 below for additional information.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
539,106 shares.
See Item 5 below for additional information.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 5.4%.
See Item 5 below for additional information.
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP NO. 395793 20 1 13D PAGE 3 OF 9
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
William S. Smith
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) [ ]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF. See Item 3 below for additional information.
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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
United States
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7 SOLE VOTING POWER
134,032 shares.
NUMBER OF See Item 5 below for additional information.
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY 539,106 shares.
OWNED BY See Item 5 below for additional information.
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 134,032 shares.
PERSON See Item 5 below for additional information.
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WITH: 10 SHARED DISPOSITIVE POWER
539,106 shares.
See Item 5 below for additional information.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
673,138 shares.
See Item 5 below for additional information.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 6.6%.
See Item 5 below for additional information.
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP NO. 395793 20 1 13D PAGE 4 OF 9
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1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Luann E. Smith
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) [ ]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
Not Applicable. See Item 3 below for additional information.
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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
United States
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7 SOLE VOTING POWER
NUMBER OF None.
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY 539,106 shares.
OWNED BY See Item 5 below for additional information.
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None.
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WITH: 10 SHARED DISPOSITIVE POWER
539,106 shares.
See Item 5 below for additional information.
- ----------------------- ---------- ---------------------------------------------
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
539,106 shares.
See Item 5 below for additional information.
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Approximately 5.4%
See Item 5 below for additional information.
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP NO. 395793 20 1 13D PAGE 5 OF 9
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ITEM 1. SECURITY AND ISSUER.
This statement relates to Common Shares, par value $.04 per share (the
"Shares"), of Greentree Software, Inc., a New York corporation with its
principal executive office at 2801 Fruitville Road, Suite 180, Sarasota, Florida
34237 (the "Company"). The Shares beneficially owned by the reporting persons
include: (i) 115,034 Shares (the "Smith Shares") held by William S. Smith, (ii)
18,998 Shares (the "Smith Warrant Shares") which may be immediately acquired by
William S. Smith pursuant to the exercise of Common Shares Purchase Warrants
held by William S. Smith (the "Smith Warrants") and (iii) 539,106 Shares (the
"Placement Agent Warrant Shares") which may be immediately acquired by Wm Smith
& Co. pursuant to the exercise of Common Shares Purchase Warrants (the
"Placement Agent Warrants") held by Wm Smith & Co. The Placement Agent Warrants
were granted to Wm Smith Securities, Incorporated as partial consideration for
services rendered by Wm Smith Securities Incorporated as placement agent for the
Company in connection with several private placements of the Company's
securities and for consulting services provided by Wm Smith Securities,
Incorporated to the Company. At the request of William S. Smith, Wm Smith
Securities, Incorporated transferred all of the Placement Agent Warrants to Wm
Smith & Co.
ITEM 2. IDENTITY AND BACKGROUND.
(a) The names of the persons filing this statement are Wm Smith & Co.,
a Colorado corporation, William S. Smith, an individual, and Luann E. Smith, an
individual, respectively. This statement on Schedule 13D is filed on behalf of
each of the reporting persons. William S. Smith is the sole stockholder of Wm
Smith & Co. The directors of Wm Smith & Co. are William S. Smith and Luann E.
Smith. William S. Smith is the sole executive officer of Wm Smith & Co. serving
as President and Treasurer. The principal business of Wm Smith & Co. is the
furnishing of investment advisory services.
(b) The business address of Wm Smith & Co., William S. Smith and Luann
E. Smith, and the address of Wm Smith & Co.'s principal office, is 1700 Lincoln
Street, Suite 3650, Denver, Colorado 80203.
(c) William S. Smith's principal occupation is investment banking. Mr.
Smith provides investment advisory services to Wm Smith Securities, Incorporated
on an independent contractor basis and is the sole stockholder of Wm Smith
Securities, Incorporated. Wm Smith Securities, Incorporated is a Colorado
corporation with its principal business address at 1700 Lincoln Street, Suite
3650, Denver, Colorado 80203 whose principal business is underwriting sales of
public securities, arranging for placement of private investments and engaging
in investment banking activities generally. Wm Smith Securities, Incorporated is
a registered broker-dealer. Luann E. Smith's principal occupation is to act as a
director and the Secretary of Wm Smith & Co.
CUSIP NO. 395793 20 1 13D PAGE 6 OF 9
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(d) During the past five years, none of Wm Smith & Co., William S.
Smith, or Luann E. Smith, respectively, has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e) During the past five years, none of Wm Smith & Co., William S.
Smith, or Luann E. Smith, respectively, has been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction as a result of
which such person was 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 violation with respect to such laws.
(f) William S. Smith and Luann E. Smith are citizens of the United
States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Placement Agent Warrants were assigned and transferred by Wm Smith
Securities, Incorporated to Wm Smith & Co. for no consideration. William S.
Smith is the sole stockholder of each of Wm Smith Securities, Incorporated and
Wm Smith & Co. The Smith Shares and the Smith Warrants were acquired by William
S. Smith using his personal funds. See Item 1 above for more detailed
information.
ITEM 4. PURPOSE OF TRANSACTION.
William S. Smith, Luann E. Smith and Wm Smith & Co. intend to hold or
to cause to be held, as the case may be, all of the Shares beneficially owned by
them for investment. None of the reporting persons has any present plans or
proposals that relate to or would result in any of the actions described in Item
4(a)-(j) of the instructions to Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The following table sets forth certain information concerning
beneficial ownership of Shares by each reporting person:
SHARES
BENEFICIALLY PERCENT OF
NAME OF PERSON OWNED CLASS (1)
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Wm Smith & Co. 539,106(2) 5.4%
William S. Smith 673,138(3) 6.6%
Luann E. Smith 539,106(4) 5.4%
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CUSIP NO. 395793 20 1 13D PAGE 7 OF 9
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(1) Computed in the manner required by Rule 13d-3 of the Securities
Exchange Act of 1934, as amended, based on 9,503,662 Shares issued and
outstanding as of October 11, 1996
(2) Consists of the Placement Agent Warrant Shares that may be acquired
through the exercise of the Placement Agent Warrants held by Wm Smith &
Co. Wm Smith & Co. shares voting and dispositive power of the Placement
Agent Warrant Shares with William S. Smith and Luann E. Smith.
(3) Includes (i) the Placement Agent Warrant Shares that may be acquired
through the exercise of the Placement Agent Warrants held by Wm Smith &
Co., (ii) the Smith Warrant Shares that may be acquired through the
exercise of the Smith Warrants held by William S. Smith, and (iii) the
Smith Shares held by William S. Smith. William S. Smith is a director,
the President and Treasurer and the sole stockholder of Wm Smith & Co.
and, accordingly, shares voting and dispositive power of the Placement
Agent Warrant Shares with Luann E. Smith and Wm Smith & Co. William S.
Smith hereby disclaims beneficial ownership of the Placement Agent
Warrant Shares. William S. Smith has the sole voting and dispositive
power with respect to the Smith Shares and the Smith Warrant Shares.
(4) Consists of the Placement Agent Warrant Shares that may be acquired
through the exercise of Placement Agent Warrants held by Wm Smith & Co.
Luann E. Smith is a director and the Secretary of Wm Smith & Co. and,
accordingly, shares voting and dispositive power of the Placement Agent
Warrant Shares with William S. Smith and Wm Smith & Co. Luann E. Smith
hereby disclaims beneficial ownership of the Placement Agent Warrant
Shares.
(b) See the footnotes to the table set forth in Item 5(a) above.
(c) On October 25, 1996, Wm Smith Securities, Incorporated assigned and
transferred to Wm Smith & Co. Placement Agent Warrants exercisable for an
aggregate of 180,000 Shares at an exercise price per share of $0.30. Wm Smith
Securities, Incorporated acquired such Placement Agent Warrants in consideration
for services rendered by Wm Smith Securities, Incorporated as placement agent
for the Company in connection with a private placement of the Company's
securities.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 7.1 Agreement relating to the joint filing of this Schedule
13D, dated as of November 11, 1996, between Wm Smith & Co.,
William S. Smith and Luann E. Smith.
CUSIP NO. 395793 20 1 13D PAGE 8 OF 9
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
Statement is true, complete, and correct.
November 11, 1996 November 11, 1996
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(Date) (Date)
WM SMITH & CO.
By /s/ William S. Smith /s/ William S. Smith
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William S. Smith, William S. Smith,
President Individually
/s/ Luann E. Smith
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Luann E. Smith,
Individually
CUSIP NO. 395793 20 1 13D PAGE 9 OF 9
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EXHIBIT 7.1
AGREEMENT
This Agreement dated as of November 11, 1996, is by and among Wm Smith
& Co., a Colorado corporation, William S. Smith, an individual and Luann E.
Smith, an individual.
Pursuant to Rule 13(d)(1) promulgated under the Securities Exchange Act
of 1934, as amended, the parties hereby agree to file a single statement on
Schedule 13D on behalf of both of the parties, and hereby further agree to file
this Agreement as an exhibit to such statement, as required by such rule.
Executed and delivered as of the date first above written.
WM SMITH & CO.
By /s/ William S. Smith /s/ William S. Smith
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William S. Smith, William S. Smith,
President Individually
/s/ Luann E. Smith
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Luann E. Smith,
Individually
