COMMONWEALTH ASSOCIATES /BD
SC 13D/A, 2000-01-14
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  ------------

                                  SCHEDULE 13D/A
                                 (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)

                              (Amendment No. 2)

                                FutureLink Corp.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                    Common Stock, par value $.0005 per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                  361142 10 9
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

        Bruce Glaser, 830 Third Avenue, Fourth Floor, New York, NY 10022
- --------------------------------------------------------------------------------
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                December 31, 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 that 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)

                              (Page 1 of 14 Pages)

- ----------
      (1) 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 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).
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 2 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Commonwealth Associates L.P.
      13-3467952
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      WC
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      New York
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER


                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,546,717
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      4.1%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 3 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Commonwealth Associates Management Corp.
      13-3468747
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      WC
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      New York
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER


                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,546,717
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      4.1%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      CO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 4 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Michael S. Falk
      ###-##-####
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      PF
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER

                        982,729
                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               982,729
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      3,529,446
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      5.7%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 5 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Robert Priddy
      ###-##-####
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      PF
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER

                        1,055,287
                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               1,055,287
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      3,602,004
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      5.8%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 6 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Keith Rosenbloom
      ###-##-####
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      PF
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER

                        261,477
                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               261,477
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,808,194
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      4.5%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>

CUSIP No. 361142 10 9            SCHEDULE 13D/A               Page 7 of 14 Pages
- --------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      Basil Ascuitto
      ###-##-####
- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |_|
- --------------------------------------------------------------------------------
3     SEC USE ONLY


- --------------------------------------------------------------------------------
4     SOURCE OF FUNDS*

      PF
- --------------------------------------------------------------------------------
5     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
      TO ITEM 2(d) or 2(e)                                                   |_|

- --------------------------------------------------------------------------------
6     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
- --------------------------------------------------------------------------------
                  7     SOLE VOTING POWER

                        20,125
                        --------------------------------------------------------
  NUMBER OF       8     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,546,717
  OWNED BY              --------------------------------------------------------
    EACH          9     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               20,125
    WITH                --------------------------------------------------------
                  10    SHARED DISPOSITIVE POWER

                        2,546,717
- --------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,566,842
- --------------------------------------------------------------------------------
12    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                        |_|


- --------------------------------------------------------------------------------
13    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      4.1%
- --------------------------------------------------------------------------------
14    TYPE OF REPORTING PERSON*

      IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
                                                              Page 8 of 14 Pages


Item 1. Security and Issuer.

       This statement relates to the common stock, par value $.0005 per share
       ("Common Stock"), of FutureLink Corp., a Colorado corporation (the
       "Company"). The address of the Company's principal executive office is
       300, 250 6th Avenue, S.W., Calgary, Alberta, Canada T2P 3H7.

       The shares of Common Stock that are the subject of this statement were
       purchased on the open market, were issued upon conversion or exercise of
       convertible promissory notes and warrants issued in connection with the
       Company's May 1999 private placement or converted or exercised in
       accordance with the terms of an offer of exchange by the Company (the
       "Offer") or are issuable (i) upon exercise of warrants (the "Bridge
       Warrants") issued by the Company in a private placement completed in July
       1999 (the "Bridge Financing"), (ii) upon exercise of warrants (the
       "Agent's Bridge Warrants") issued as placement agent compensation or
       (iii) upon exercise of warrants (the "Offer Warrants") issued as part of
       the Offer, all of which have an exercise price of $8.50 per share.

       The foregoing conversion and exercise prices are subject to adjustment in
       certain instances.

Item 2. Identity and Background.

       This statement is filed jointly by Commonwealth Associates L.P.
       ("Commonwealth"), a limited partnership organized under the laws of New
       York, whose principal business is investment banking and advisory
       services, Commonwealth Associates Management Corp., the corporate general
       partner of Commonwealth ("CAMC"), Michael S. Falk, the Chairman and
       controlling equity owner of CAMC, Robert Priddy, a director and
       shareholder of CAMC, and Keith Rosenbloom and Basil Ascuitto, employees,
       directors and shareholders of CAMC (the "Reporting Persons").

       The officers of CAMC (the "CAMC Officers"), all of whom are U.S.
       citizens, are:

                      Michael Falk             Chief Executive Officer
                      Bruce Glaser             Chief Administrative Officer
                      Joseph Wynne             Chief Financial Officer
                      Basil Ascuitto           Chief Operating Officer
<PAGE>
                                                              Page 9 of 14 Pages


       The business address for all of the Reporting Persons other than Mr.
       Priddy is 830 Third Avenue, 4th Floor, New York, New York 10022. Mr.
       Priddy is a principal of RMC Capital, 1640 Powers Ferry, Suite 125,
       Marietta, Georgia 30067, an investment firm.

       During the past five years, none of the Reporting Persons or CAMC
       Officers has been convicted in a criminal proceeding or been a party to a
       civil proceeding of a judicial or administrative body of competent
       jurisdiction 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 violation with respect to such laws.

Item 3. Source and Amount of Funds or Other Consideration.

       The securities covered by this statement were acquired by Commonwealth
       from its working capital and by the individual Reporting Persons with
       personal funds or in both cases, pursuant to the cashless exercise
       provisions of warrants.
<PAGE>
                                                             Page 10 of 14 Pages


Item 4. Purpose of Transaction.

       The Agent's Bridge Warrants were acquired by the Reporting Persons as
       compensation for services rendered in connection with the Bridge
       Financing solely for investment purposes and not for the purpose of
       acquiring control of the Company. All other securities of the Company
       held by the Reporting Persons were acquired to make a profitable
       investment.

       Other than as set forth above, the Reporting Persons have no present
       plans or proposals which relate to, or could result in, any of the
       matters referred to in paragraphs (a) through (j), inclusive, of Item 4
       of Schedule 13D. The Reporting Persons may, at any time and from time to
       time, review or reconsider their position and formulate plans or
       proposals with respect thereto, but have no present intention of doing
       so.

Item 5. Interest in Securities of the Issuer.

(a)(1) Commonwealth is the beneficial owner of an aggregate of 2,546,717 shares
       of Common Stock, representing approximately 4.1% of the issued and
       outstanding shares of Common Stock of the Company. Commonwealth's
       holdings include the right to acquire (i) 82,589 shares issuable upon
       exercise of Agent's Bridge Warrants, (ii) 5,841 shares issuable upon
       exercise of Offer Warrants and (iii) 19,275 shares issuable upon exercise
       of Bridge Warrants. CAMC is the beneficial owner of Commonwealth's
       shares.

(a)(2) Mr. Falk is the beneficial owner of an aggregate of 3,529,446 shares of
       Common Stock, representing approximately 5.7% of the issued and
       outstanding shares of Common Stock of the Company. In addition to
       Commonwealth's 2,546,717 shares, Mr. Falk's holdings represent the right
       to acquire (i) 24,452 shares issuable upon exercise of Agent's Bridge
       Warrants, (ii) 2,273 shares issuable upon exercise of Offer Warrants, and
       (iii) 7,500 shares issuable upon exercise of Bridge Warrants. In his
       capacity as Chairman and controlling equity owner of CAMC, Mr. Falk
       shares voting and dispositive power with respect to the securities
       beneficially owned by Commonwealth and may be deemed to be the beneficial
       owner of such securities.

(a)(3) Mr. Priddy is the beneficial owner of an aggregate of 1,055,287 shares of
       Common Stock, representing approximately 1.6% of the issued and
       outstanding shares of Common Stock of the Company. Mr. Priddy's holdings
       include the right to acquire (i) 45,455 shares issuable upon exercise of
       Offer Warrants, and (ii) 150,000 shares issuable upon exercise of Bridge
       Warrants.
<PAGE>
                                                             Page 11 of 14 Pages


       In his capacity as a director and equity owner of CAMC, Mr. Priddy shares
       indirect voting and dispositive power with respect to Commonwealth's
       2,546,717 shares and may be deemed to be the beneficial owner of such
       securities, although Mr. Priddy disclaims beneficial interest in such
       shares other than that portion which corresponds with his equity
       ownership in CAMC.

(a)(4) Mr. Rosenbloom is the beneficial owner of an aggregate of 261,477 shares
       of Common Stock, representing approximately 0.4% of the issued and
       outstanding shares of Common Stock of the Company. Mr. Rosenbloom's
       holdings include the right to acquire (i) 6,984 shares issuable upon
       exercise of Agent's Bridge Warrants. In his capacity as a director and
       equity owner of CAMC, Mr. Rosenbloom shares indirect voting and
       dispositive power with respect to Commonwealth's 2,546,717 shares and may
       be deemed to be the beneficial owner of such securities, although Mr.
       Rosenbloom disclaims beneficial interest in such shares other than that
       portion which corresponds with his equity ownership in CAMC.

(a)(5) Mr. Ascuitto is the beneficial owner of an aggregate of 20,125 shares of
       Common Stock, representing approximately 0.03% of the issued and
       outstanding shares of Common Stock of the Company. Mr. Ascuitto's
       holdings represent the right to acquire shares issuable upon exercise of
       Agent's Bridge Warrants. In his capacity as a director of CAMC, Mr.
       Ascuitto shares voting and dispositive power with respect to
       Commonwealth's 2,546,717 shares and may be deemed to be the beneficial
       owner of such securities, although Mr. Ascuitto disclaims beneficial
       interest in such shares other than that portion which corresponds with
       his equity ownership in CAMC.

(b) Number of shares as to which each such person has:

(1) sole power to vote or to direct the vote:

       (i)    Mr. Falk has the sole power to vote or to direct the vote of his
              982,729 shares.
       (ii)   Mr. Priddy has the sole power to vote or to direct the vote of his
              1,055,287 shares.
       (iii)  Mr. Rosenbloom has the sole power to vote or to direct the vote of
              his 261,477 shares.
       (iv)   Mr. Ascuitto has the sole power to vote or to direct the vote of
              his 20,125 shares.

(2) shared power to vote or to direct the vote:
<PAGE>
                                                             Page 12 of 14 Pages


       Commonwealth, CAMC, Michael Falk, Robert Priddy, Keith Rosenbloom and
       Basil Ascuitto share the power to vote or to direct the vote of
       Commonwealth's 2,546,717 shares.

(3) sole power to dispose or to direct the disposition of:

       (i)    Mr. Falk has the sole power to dispose or to direct the
              disposition of his 982,729 shares.
       (ii)   Mr. Priddy has the sole power to dispose or to direct the
              disposition of his 1,055,287 shares.
       (iii)  Mr. Rosenbloom has the sole power to dispose or to direct the
              disposition of his 261,177 shares.
       (iv)   Mr. Ascuitto has the sole power to dispose or to direct the
              disposition of his 20,125 shares.

(4) shared power to dispose of or to direct the disposition of:

       Commonwealth, CAMC, Michael Falk, Robert Priddy, Keith Rosenbloom and
       Basil Ascuitto share the power to dispose or to direct the disposition of
       Commonwealth's 2,546,717 shares.

(c) Inapplicable

(d) Inapplicable

(e) Inapplicable

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
        Securities of the Issuer.

       Under the terms of the Subscription Agreement previously filed as Exhibit
       4 to this Statement between the Company and the purchasers of the Bridge
       Notes and Bridge Warrants, the Company is required to prepare and file a
       registration statement with the Securities and Exchange Commission with
       respect to the shares issuable upon conversion of the Bridge Notes (which
       are not currently convertible) and exercise of the Bridge Warrants.
       Pursuant to the terms of the Agent's Bridge Warrant previously filed as
       Exhibit 5 to this Statement, the Company has agreed to register the
       shares of Common Stock underlying the Agent's Bridge Warrants with the
       SEC under certain circumstances.
<PAGE>
                                                             Page 13 of 14 Pages


Item 7. Materials to be Filed as Exhibits.

(a) Previously filed with Form 13D on May 17, 1999:

       (1)    Agency Agreement dated as of April 14, 1999 between Commonwealth
              and the Company

       (2)    Form of Note

       (3)    Form of Private Placement Warrant

       (4)    Subscription Agreement regarding purchase of the Company's Notes
              and Private Placement Warrants

       (5)    Form of Agent's Warrant

(b) Previously filed with Form 13D/A on August 4, 1999:

       (1)    Agency Agreement dated as of July 1, 1999 between Commonwealth and
              the Company

       (2)    Form of Bridge Note

       (3)    Form of Bridge Warrant

       (4)    Subscription Agreement regarding purchase of the Company's Bridge
              Notes and Bridge Warrants

       (5)    Form of Agent's Bridge Warrant

       (6)    Joint Statement on Schedule 13D, as required by Rule 13d-1(f)(1)
              under the Exchange Act
<PAGE>
                                                             Page 14 of 14 Pages


                                   SIGNATURES

       After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.

Dated: January 13, 2000                   Commonwealth Associates L.P.
       New York, New York

                                          By: Commonwealth Associates Management
                                          Corp., its general partner


                                          By: /s/ Joseph Wynne
                                             -----------------------------------
                                                  Joseph Wynne
                                                  Chief Financial Officer


Dated: January 13, 2000                        /s/ Michael S. Falk
       New York, New York                    -----------------------------------
                                                  Michael S. Falk


Dated: January 13, 2000                        /s/ Robert Priddy
       Marietta, Georgia                     -----------------------------------
                                                  Robert Priddy


Dated: January 13, 2000                        /s/ Keith Rosenbloom
       New York, New York                    -----------------------------------
                                                  Keith Rosenbloom


Dated: January 13, 2000                        /s/ Basil Ascuitto
       New York, New York                    -----------------------------------
                                                  Basil Ascuitto



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