SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
CONTINUCARE CORPORATION
(Name of Issuer)
COMMON STOCK, $.0001 PAR VALUE
(Title of Class of Securities)
212172100
(Cusip Number)
RICHARD C. PFENNIGER, JR.,
4400 BISCAYNE BOULEVARD, MIAMI, FL 33137
(305) 575-6000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
MARCH 8, 1999
(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 the Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), (f) or (3), check the following box [ ].
*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))
Page 1 of 10
Exhibit Index on Page 8
<PAGE>
CUSIP No. 212172100 13D Page 2 of 10 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PHILLIP FROST, M.D.
- --------------------------------------------------------------------------------
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
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFI- ----------------------------------------------------
CIALLY 8 SHARED VOTING POWER
OWNED BY 2,414,133
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,414,133
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,414,133
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP No. 212172100 13D Page 3 of 10 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FROST-NEVADA, LIMITED PARTNERSHIP
IRS I.D. #59-2749083
- --------------------------------------------------------------------------------
2 Check the appropriate Box if a Member of a Group (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEVADA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFI- ----------------------------------------------------
CIALLY 8 SHARED VOTING POWER
OWNED BY 2,414,133
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,414,133
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,414,133
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP No. 212172100 13D Page 4 of 10 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FROST-NEVADA CORPORATION
IRS I.D. #59-2749057
- --------------------------------------------------------------------------------
2 Check the appropriate Box if a Member of a Group (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEVADA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFI- ----------------------------------------------------
CIALLY 8 SHARED VOTING POWER
OWNED BY 2,414,133
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,414,133
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,414,133
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
Item 1. SECURITY AND ISSUER.
This is Amendment No. 3 to the original Schedule 13D
previously filed by Phillip Frost, M.D., Frost-Nevada, Limited Partnership (the
"Partnership") and Frost-Nevada Corporation (collectively, the "Reporting
Persons") with respect to the Common Stock, $.0001 par value (the "Shares") of
Continucare Corporation (f/k/a Zanart Entertainment Incorporated) (the
"Issuer"). The principal executive offices of the Issuer are located at 100 S.E.
2nd Street, 36th Floor, Miami, Florida, 33131.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is amended and supplemented as follows:
The aggregate purchase price of Shares of the Issuer purchased
by Phillip Frost, M.D. reported in this Amendment No. 3, was $424,881. The
source of funds used by Dr. Frost in making these purchases were personal funds
of Dr. Frost. No portion of the consideration used by Dr. Frost in making the
purchases described above was borrowed or otherwise obtained for the purpose of
acquiring, holding, trading or voting the Shares.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended in its entirety and restated as follows:
AMOUNT OF SHARES PERCENTAGE
NAME BENEFICIALLY OWNED OF CLASS*
---- ------------------ ----------
Phillip Frost, M.D. 2,414,133** 16.4%
Frost-Nevada Corporation 2,414,133** 16.4%
Frost-Nevada, Limited 2,414,133** 16.4%
Partnership
- ----------------------------
* Based on 14,681,283 Shares outstanding as of February 2, 1999,
consisting of (i) 14,606,283 Shares outstanding as reported on the
Issuer's Quarterly Report on Form 10-Q for the quarter ended December
31, 1998, and (ii) assuming the conversion by Dr. Frost of stock
options to purchase 75,000 Shares exercisable in the next sixty days.
** These Shares are owned of record by one or more of such Reporting
Persons. As the sole limited partner of the Partnership and the sole
shareholder of Frost-Nevada Corporation, the general partner of the
Partnership, Dr. Frost may be deemed a beneficial owner of the Shares.
Record ownership of the Shares may be transferred from time to time
among any or all of Dr. Frost, the Partnership and Frost-Nevada
Corporation. Accordingly, solely for purposes of reporting beneficial
ownership of the Shares pursuant to Section 13(d) under the Securities
Exchange Act of 1934, as amended, each of Dr. Frost, the Partnership
and Frost-Nevada Corporation will be deemed to be the beneficial owner
of Shares held by any of them.
Except as described herein, none of the Reporting Persons has
engaged in any transaction involving Shares of the Issuer during the past sixty
days.
Page 5 of 10
<PAGE>
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement.
2. Description of Transactions in the Issuer's Shares by
Phillip Frost, M.D.
3. Third Amended and Restated Agreement of Frost-Nevada,
Limited Partnership, Frost-Nevada Corporation and Phillip
Frost, M.D. filed pursuant to Rule 13d-l(f)(l)(iii) of the
Securities and Exchange Commission (previously filed).
4. Non-Qualified Stock Option Agreement dated July 31, 1997,
between Continucare Corporation and Phillip Frost, M.D.
(previously filed).
5. Warrant to Purchase Common Stock of Zanart Entertainment
Incorporated issued February 9, 1994 (previously filed).
Page 6 of 10
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
Amendment is true, complete and correct.
/S/PHILLIP FROST, M.D.
Date: March 12, 1999 ------------------------------------
Phillip Frost, M.D.
FROST-NEVADA, LIMITED PARTNERSHIP
/S/DAVID H. MOSKOWITZ
Date: March 12, 1999 ------------------------------------
David H. Moskowitz
President of Frost-Nevada Corporation,
General Partner
FROST-NEVADA CORPORATION
/S/DAVID H. MOSKOWITZ
Date: March 12, 1999 ------------------------------------
David H. Moskowitz
President
Page 7 of 10
<PAGE>
EXHIBIT INDEX
EXHIBIT DESCRIPTION PAGE
- ------ ----------- ----
1 Joint Filing Agreement 9
2 Description of Transactions in the Issuer's Shares 10
by Phillip Frost, M.D.
Page 8 of 10
EXHIBIT 1
The undersigned hereby agree that this Amendment to the Schedule 13D
filed by us with respect to the Common Stock of Continucare Corporation is filed
on behalf of each of us.
/S/PHILLIP FROST, M.D.
Date: March 12, 1999 ---------------------------------
Phillip Frost, M.D.
FROST-NEVADA, LIMITED PARTNERSHIP
/S/DAVID H. MOSKOWITZ
Date: March 12, 1999 ---------------------------------
David H. Moskowitz
President of Frost-Nevada Corporation,
General Partner
FROST-NEVADA CORPORATION
/S/DAVID H. MOSKOWITZ
Date: March 12, 1999 ---------------------------------
David H. Moskowitz
President
EXHIBIT 2
Set forth below is a summary of acquisitions and dispositions of
beneficial ownership in the Shares of the Issuer by Phillip Frost, M.D. effected
from September 16, 1998 through the date of this Amendment No. 3.
UMBER OF SHARES PRICE PER TYPE OF
DATE ACQUIRED SHARE TRANSACTION
- ---- -------- ----- -----------
9/28/98 8,400 $2.625 Open Market Transaction
10/08/98 3,200 $1.875 Open Market Transaction
10/12/98 5,000 $2.25 Open Market Transaction
01/20/99 86,000 $1.50 Private Transaction
01/26/99 500 $1.375 Open Market Transaction
02/02/99 19,500 $1.375 Open Market Transaction
02/03/99 2,000 $1.375 Open Market Transaction
02/17/99 25,000 $1.25 Private Transaction
03/08/99 194,000 $1.00 Private Transactions
