As filed with the Securities and Exchange Commission on April 4, 1996
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Registration No. 33-86518
File No. 811-5169
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 2
TO
REGISTRATION STATEMENT OF SMALL BUSINESS INVESTMENT COMPANY
UNDER THE SECURITIES ACT OF 1933
------------------
AMENDMENT NO. 6
TO
FORM N-5
UNDER THE INVESTMENT COMPANY ACT OF 1940
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FRESHSTART VENTURE CAPITAL CORP.
(Exact name of registrant as specified in charter)
313 West 53rd Street
New York, New York 10019
(Address of principal executive offices)
ZINDEL ZELMANOVITCH, PRESIDENT
Freshstart Venture Capital Corp.
313 West 53rd Street
New York, New York 10019
(Name and address of agent for service)
-----------------
With copies to:
C. WALTER STURSBERG, JR., ESQ. STEVEN L. WASSERMAN, ESQ.
Stursberg & Veith Reid & Priest LLP
405 Lexington Avenue, Suite 4949 40 West 57th Street
New York, New York 10174 New York, New York 10019
---------------
THIS REGISTRATION IS FILED SOLELY TO ADD THE
FINANCIAL DATA SCHEDULE AS EXHIBIT 27.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the registrant has duly caused this
Post-Effective Amendment No. 2 and Amendment No. 6, respectively, to this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of New York, and State of New York, on the 2nd day
of April 1996.
FRESHSTART VENTURE CAPITAL CORP.
(Registrant)
By: /s/ NEIL GREENBAUM
---------------------------------
Neil Greenbaum, Secretary
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed below by the following persons in the
capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
/s/ ZINDEL ZELMANOVITCH* President and Director April 2, 1996
- - --------------------------------------
Zindel Zelmanovitch
/s/ PEARL GREENBAUM* Vice President and Director April 2, 1996
- - --------------------------------------
Pearl Greenbaum
/s/ NEIL GREENBAUM Secretary and Director April 2, 1996
- - --------------------------------------
Neil Greenbaum
/s/ BARBARA JOY HAMILL* Director April 2, 1996
- - --------------------------------------
Barbara Joy Hamill
/s/ MICHAEL MOSKOWITZ* Director April 2, 1996
- - --------------------------------------
Michael Moskowitz
/s/ FRED BRODSKY* Director April 2, 1996
- - --------------------------------------
Fred Brodsky
/s/ PHILIP POLLACK* Director April 2, 1996
- - --------------------------------------
Philip Pollack
/s/ ALAN WORK* Director April 2, 1996
- - --------------------------------------
Alan Work
*By: /s/ NEIL GREENBAUM
- - --------------------------------------
Neil Greenbaum, Attorney-In-Fact
</TABLE>
II-3
<PAGE>
EXHIBIT INDEX
Exhibits Page
- - -------- ----
(1.1)* Certificate of Incorporation of Registrant, as amended
through November 24, 1987 (Exhibit 1 to Amendment No. 2 to
Registrant's Registration Statement on Form N-5 filed January 5,
1988 (File No. 33-15890) are incorporated by reference herein.
(1.2)* Amendments to the Certificate of Incorporation of Registrant
from November 25, 1987 through May 11, 1993 (Exhibit 1.2 to
Registrant's Registration Statement on Form N-5 filed November
18, 1994 (File No. 33-86518)) are incorporated by reference
herein.
(1.3)* Amendment to Certificate of Incorporation of Registrant filed
November 17, 1994.
(1.4)* Form of proposed Amendment to Certificate of Incorporation of
Registrant.
(2.1)* By-laws of Registrant, as amended.
(3.1)* Specimen of share of Common Stock, $.01 par value, of
Registrant.
(4) None.
(5) None.
(6) None.
(7.1)* Defined Contribution Plan of Registrant (Exhibit 7.1 to
Registrant's Registration Statement on Form N-5 filed November
18, 1994 (File No. 33-86518)) is incorporated by reference
herein.
(8.1)* Copy of Registrant's license from the Small Business
Administration (Exhibit 4.(a). to the Registrant's Registration
Statement on Form N-5 filed July 17, 1987 (File No. 33-15890)) is
incorporated by reference herein.
(9.1)* Letter of Intent dated as of December 1, 1992 by and between
Registrant and the U.S. Small Business Administration (Exhibit
9.1 to Registrant's Registration Statement on Form N-5 filed
November 18, 1994 (File No. 33-86518)) is incorporated by
reference herein.
(9.2)* Loan Agreement dated January 15, 1995 between Registrant and
Extebank.
(9.3)* Form of Employment Agreement to be entered into between the
Registrant and Zindel Zelmanovitch.
(9.4)* Form of Employment Agreement to be entered into between the
Registrant and Neil Greenbaum.
(9.5)* Lease dated October 1, 1994 by and between Registrant and 313
West 53rd Street Association.
(10.1)* Form of Underwriting Agreement with Soliciting Dealer
Agreement relating to the offering of shares.
(10.2)* Form of Origination Administration and Servicing Agreement by and
between Hayward Lake Capital Corp. and Freshstart Venture Capital Corp.
(10.3)* Form of Escrow Agreement by and between The Merchants Bank of New York
and Freshstart Venture Capital Corp.
(11.1)* Opinion of Stursberg & Veith as to the legality of the securities being
registered hereunder and the issuance thereof.
(12.1)* Consent of Michael C. Finkelstein, Certified Public Accountants.
(13.1)* Code of Ethics of Registrant (Exhibit 8 to the Registrant's Registration
Statement on Form N-5 filed July 17, 1987 (File No. 33-15890)) is
incorporated by reference.
(14-26) Intentionally left blank.
(27) Financial Data Schedule.
- - ----------
* Previously filed.
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1995
<PERIOD-START> JUN-01-1995
<PERIOD-END> NOV-30-1995
<INVESTMENTS-AT-COST> 8,733,862
<INVESTMENTS-AT-VALUE> 8,553,304
<RECEIVABLES> 89,913
<ASSETS-OTHER> 214,973
<OTHER-ITEMS-ASSETS> 310,693
<TOTAL-ASSETS> 9,168,883
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 4,360,000
<OTHER-ITEMS-LIABILITIES> 178,492
<TOTAL-LIABILITIES> 4,538,492
<SENIOR-EQUITY> 1,410,000
<PAID-IN-CAPITAL-COMMON> 3,155,084
<SHARES-COMMON-STOCK> 548,344
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 65,307
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,220,391
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 504,361
<OTHER-INCOME> 0
<EXPENSES-NET> 325,811
<NET-INVESTMENT-INCOME> 178,550
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 51,649
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 126,903
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (33,503)
<ACCUMULATED-NII-PRIOR> 13,660
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 159,411
<GROSS-EXPENSE> 325,811
<AVERAGE-NET-ASSETS> 3,194,567
<PER-SHARE-NAV-BEGIN> 5.78
<PER-SHARE-NII> .32
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.23)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.87
<EXPENSE-RATIO> 10.20
<AVG-DEBT-OUTSTANDING> 25,879
<AVG-DEBT-PER-SHARE> 4.72
</TABLE>
