UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(A)
Quadrax Corporation
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(Name of Issuer)
Common Stock, par value $.000009 per share
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(Title of Class of Securities)
74731J 10 9
(CUSIP Number)
Henry I Rothman, Esq.
Parker Chapin Flattau & Klimpl, LLP
1211 Avenue of the Americas
New York, New York 10036
(212) 704-6000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December 16, 1999
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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(e), 13d-1(f) or 13d-1(g), check the
following box .
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
1
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CUSIP NO. 74731J 10 9 SCHEDULE 13D PAGE 2 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.B. Acquisition, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(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
BENEFICIALLY 12,250,000
OWNED BY -----------------------------------------------------
EACH
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 0
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9 SOLE DISPOSITIVE POWER
12,250,000
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,250,000
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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)
49.00%,
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14 TYPE OF REPORTING PERSON*
CO
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CUSIP NO. 74731J 10 9 SCHEDULE 13D PAGE 3 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David Bistricer
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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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 of America
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------
EACH
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 12,250,000
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
12,250,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,250,000
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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)
49.00%,
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14 TYPE OF REPORTING PERSON*
IN
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CUSIP NO. 74731J 10 9 SCHEDULE 13D PAGE 4 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Nachum Stein
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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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
Unites States of America
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------
EACH
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 12,250,000
-----------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
12,250,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,250,000
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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)
49.00%,
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14 TYPE OF REPORTING PERSON*
IN
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ITEM 1 SECURITY AND ISSUER
Item 1(a) Name of Issuer:
Quadrax Corporation ("Quadrax")
Item 1(b) Address of Issuer's Principal Executive Offices:
618 Main Street, P.O. Box 1001
West Warwick, Rhode Island 02893.
ITEM 2 IDENTITY AND BACKGROUND.
Item 2(a) Name of Persons Filing:
(i) E.B. Acquisition, L.L.C. ("E.B.");
(ii) Nachum Stein ("Stein"); and
(iii) David Bistricer ("Bistricer") (collectively,
the "Reporting Persons")
E.B. is organized under the laws of New York. The
12,250,000 shares of common stock owned by E.B. (the
"Shares") may be deemed to be beneficially owned by
(i) E.B.; (ii) Stein; and (iii) Bistricer. The
member-managers of E.B. are Stein and Bistricer.
Stein and Bistricer are the sole managers, officers
and members of E.B.
Item 2(b) Address of Principal Business Office of the Reporting
Persons is:
444 Madison Ave., Suite 501, New York , NY 10022
Item 2(c) Principal Business:
The principal business of E.B. is that of a private
investment limited liability company engaged in the
purchase and sale of securities for investment for
its own account. The principal business of Stein and
Bistricer is to serve as investors and
member-managers of E.B.
Item 2(d) Criminal Proceedings:
During the last five years, none of the Reporting
Persons has been convicted in a criminal proceeding
(excluding traffic violations or similar
misdemeanors).
Item 2(e) Civil Proceedings:
During the last five years, none of the Reporting
Persons has been a party to a civil proceeding of a
judicial or administrative body of competent
jurisdiction as a result of which it 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 violation with respect
to such laws.
Item 2(f) Citizenship:
Stein and Bistricer are United States Citizens.
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ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of the funds is from the working capital
of E.B. Under the Second Amended Plan of
Reorganization of E.B. Acquisition, L.L.C., filed
jointly with the debtor Quadrax Corporation (the
"Plan") as confirmed by Judge Arthur N. Votolato,
United States Bankruptcy Court for the District of
Rhode Island, dated October 22, 1999, Quadrax is
issuing the Shares to E.B., for payment of $100,000.
Quadrax is also issuing a note obligation in the
amount of $2,450,000 to E.B., repayable two years
from the Plan's effective date, bearing interest
payments equaling 8% per annum until maturity, the
interest being payable monthly.
ITEM 4 PURPOSE OF TRANSACTION.
E.B. is acquiring the Shares for its own account for
investment and not with a view to, or for sale in
connection with, any distribution thereof, nor with
any present intention of distributing or selling the
same.
Except as otherwise set forth herein, and except for
the activities of Stein and Bistricer on behalf of
Quadrax in their positions as directors, the
Reporting Persons have no plans or proposals which
relate to or would result in: (a) the acquisition or
disposition by any Reporting Person of additional
securities of Quadrax or disposition of securities of
Quadrax, (b) an extraordinary corporate transaction,
such as a merger, reorganization or liquidation
involving Quadrax, (c) a sale or transfer of a
material amount of assets of Quadrax or any of its
subsidiaries, (d) any change in the present board of
directors or management of Quadrax, including any
plans or proposals to change the number or term of
directors or to fill any existing vacancies on the
board, (e) any material change in the present
capitalization or dividend policy of Quadrax, (f) any
other material change in Quadrax's business or
corporate structure, (g) any change in Quadrax's
charter, by-laws or instruments corresponding thereto
or other actions which may impede the acquisition of
control of Quadrax by any person, (h) a class of
securities of Quadrax to be delisted from a national
securities exchange or cease being authorized to be
quoted in an inter-dealer quotation system of a
registered national securities association, (i) a
class of equity securities of Quadrax becoming
eligible for termination of registration pursuant to
Section 12(g)(4) of the Securities Exchange Act of
1934 or (j) any action similar to any of those
enumerated above. However, as investors, the
Reporting Persons review from time to time the
performance of all of their investments, including,
but not limited to, the securities of Quadrax and
may, subsequent to the filing date, acquire or
dispose of securities of Quadrax.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 (a) Amount beneficially owned:
E.B. owns directly the Shares, comprising 49% of the
outstanding shares of Common Stock. Stein and
Bistricer own no shares directly. By reason of the
provisions of rule 13(d)-3 under the Securities and
Exchange Act of 1934, Stein and Bistricer may be
deemed to own beneficially all of the Shares.
Item 5 (b) Voting Power:
E.B. has sole power to vote or to direct the vote,
and sole power to dispose or to direct the
disposition of the Shares, which power may be
exercised by Stein and Bistricer, as the
member-managers of E.B, who together have shared
power to vote or to direct the vote, and shared power
to dispose or to direct the disposition of the
Shares.
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Item 5 (c) Transactions:
Under the Plan, Quadrax is issuing 12,250,000 shares
of common stock to E.B., for payment of $100,000, for
a price per share of .008 cents (rounded).
Item 5 (d) Dividends:
Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE
ISSUER.
Under the Common Stock Purchase Agreement ("Purchase
Agreement") dated as of December 16, 1999, by and
among Quadrax and E.B., E.B. may not sell or transfer
the Shares until one year after the date of the
Purchase Agreement. Except as stated in the preceding
sentence, the Reporting Person does not have any
contracts, arrangements, understandings or
relationships (legal or otherwise), with any person
with respect to securities issued by Quadrax,
including, but not limited to, transfer or voting of
any such securities, finder's fees, joint ventures,
loan or option agreements, puts or calls, guarantees
or profits, divisions on profit on loss or the giving
or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1:
Second Amended Plan of Reorganization, dated October
22, 1999, of E.B. Acquisition, L.L.C. filed jointly
with the debtor Quadrax Corporation as confirmed by
Judge Arthur N. Votolato, United States Bankruptcy
Court for the District of Rhode Island
Exhibit 2:
Common Stock Purchase Agreement, dated as of December
16, 1999, by and among Quadrax and E.B.
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, We
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 1, 2000
E.B. Acquisition, L.L.C.
By: its member-manager
/s/ Nachum Stein
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Name: Nachum Stein
/s/ Nachum Stein
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Nachum Stein
/s/ David Bistricer
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David Bistricer
