<PAGE> 1 OF 20
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
The Software Developer's Company, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
83403F
(CUSIP Number)
Richard D. Forrest, Esq.
c/o Testa, Hurwitz & Thibeault
125 High Street, High Street Tower, Boston, MA 02110;
(617) 248-7782
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 30, 1995
(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 __ .
Check the following box if a fee is being paid with the
statement __. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7.)
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 the
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).
<PAGE> 2 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 2 of 20 Pages
__________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edison Venture Fund, L.P. 22-2725572
____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
____________________________________________________________________
3 SEC USE ONLY
____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
____________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF _____________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 580,985
OWNED BY _____________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _____________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
580,985
____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
580,985
____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
____________________________________________________________________
14 TYPE OF REPORTING PERSON *
PN
____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3 0F 20
SCHEDULE 13D
CUSIP NO. 83403F Page 3 of 20 Pages
_____________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edison Venture Fund II, L.P. 22-3069982
_____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
_____________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS _____
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF ______________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 774,825
OWNED BY ______________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ______________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
774,825
_____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
774,825
_____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
_____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
_____________________________________________________________________
14 TYPE OF REPORTING PERSON *
PN
_____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 4 of 20 Pages
_____________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edison Venture Fund II - Pa, L.P. 22-3082055
_____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
_____________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS _____
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
_____________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ______________________________________________________
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 148,970
EACH ______________________________________________________
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ______________________________________________________
10 SHARED DISPOSITIVE POWER
148,970
_____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
148,970
_____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
_____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
_____________________________________________________________________
14 TYPE OF REPORTING PERSON *
PN
_____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 5 of 20 Pages
_____________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edison Partners, L.P. 22-2703711
_____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
_____________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS ______
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF _______________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 580,985
OWNED BY _______________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _______________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
580,985
_____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
580,985
_____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
_____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
_____________________________________________________________________
14 TYPE OF REPORTING PERSON *
PN
_____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 6 of 20 Pages
_____________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edison Partners II, L.P. 22-3069978
_____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) _____
(b) _____
____________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS _____
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF ______________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 923,795
OWNED BY ______________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ______________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
923,795
_____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
923,795
_____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
_____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.1%
_____________________________________________________________________
14 TYPE OF REPORTING PERSON *
PN
_____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 7 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 7 of 20 Pages
_____________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John H. Martinson ###-##-####
_____________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) _____
(b) _____
_____________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_____________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS ______
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_____________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
_____________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF ______________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,504,780
OWNED BY ______________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ______________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
1,504,780
_____________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,504,780
_____________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
_____________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.5%
_____________________________________________________________________
14 TYPE OF REPORTING PERSON *
IN
_____________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 8 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 8 of 20 Pages
______________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard J. Defieux ###-##-####
______________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
______________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________
4 SOURCE OF FUNDS*
N/A
______________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS ____
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
______________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
______________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF _______________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,504,780
OWNED BY _______________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _______________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
1,504,780
______________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,504,780
______________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ____
CERTAIN SHARES*
______________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.5%
______________________________________________________________________
14 TYPE OF REPORTING PERSON *
IN
______________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 9 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 9 of 20 Pages
_______________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gustav H. Koven, III ###-##-####
_______________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
_______________________________________________________________________
3 SEC USE ONLY
_______________________________________________________________________
4 SOURCE OF FUNDS*
N/A
_______________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS ___
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
_______________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
_______________________________________________________________________
7 SOLE VOTING POWER
12,542
NUMBER OF ________________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,504,780
OWNED BY ________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 12,542
PERSON ________________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
1,504,780
_______________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,517,322
_______________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ___
CERTAIN SHARES*
_______________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.7%
_______________________________________________________________________
14 TYPE OF REPORTING PERSON *
IN
_______________________________________________________________________
SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 10 OF 20
SCHEDULE 13D
CUSIP NO. 83403F Page 10 of 20 Pages
________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas A. Smith ###-##-####
________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ____
(b) ____
________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________
4 SOURCE OF FUNDS*
N/A
________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS _______
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
________________________________________________________________________
7 SOLE VOTING POWER
0
NUMBER OF _________________________________________________________
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 923,795
OWNED BY _________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________
WITH 10 SHARED DISPOSITIVE POWER
923,795
________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
923,795
________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES ___
CERTAIN SHARES*
________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.1%
________________________________________________________________________
14 TYPE OF REPORTING PERSON *
IN
________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 11 OF 20
Item 1. Security and Issuer.
(a) This statement relates to common stock, par value
$.01 per share ("Common Stock"), of The Software Developer's
Company, Inc., a Delaware corporation (the "Issuer" or the
"Company").
(b) The principal executive offices of the Issuer are
located at 90 Industrial Park Road, Hingham, Massachusetts
02043.
Item 2. Identity and Background.
(a) This statement is being filed by: Edison Venture
Fund, L.P., ("Edison"); Edison Venture Fund II, L.P.
("Edison II"); Edison Venture Fund II-Pa, L.P., ("Edison II-
PA"); Edison Partners, L.P. ("Edison Partners"), which is
the sole general partner of Edison; Edison Partners II, L.P.
("Edison Partners II") which is the sole general partner of
Edison II and Edison II-PA; John H. Martinson; Richard J.
Defieux; Gustav H. Koven, III and Thomas A. Smith
(collectively, the "General Partners"). Messrs. Martinson,
Defieux and Koven are the individual general partners of
Edison Partners. Messrs. Martinson, Defieux, Koven and
Smith are the individual general partners of Edison Partners
II. The General Partners, Edison, Edison II, Edison II-PA,
Edison Partners and Edison Partners II collectively are
referred to as the "Reporting Persons." Martin G. Chilek,
who has served as a general partner of Edison Partners II,
submitted a notice of resignation to Edison Partners II on
December 1, 1995. The effetive date of his resignation is
expected to be approximately December 18, 1995, at which
time he will cease to be deemed a beneficial owner of more
than five percent of the class of securities.
(b) The principal business address of the Reporting
Persons is 997 Lenox Drive #3, Lawrenceville, NJ 08648.
(c) The principal business of Edison, Edison II and
Edison II-PA is to invest in and assist expansion stage,
technology companies located principally in the United
States. The principal business of Edison Partners is to act
as the sole general partner of Edison. The principal
business of Edison Partners II is to act as sole general
partner of Edison II and Edison II-PA. The principal
occupation of each of the General Partners is his activity
on behalf of Edison, Edison II, Edison II-PA, Edison
Partners, or Edison Partners II, as the case may be.
(d) & (e) During the five years to the date hereof,
neither Edison, Edison II, Edison II-PA, Edison Partners,
Edison Partners II nor any of the General Partners has been
convicted in a criminal proceeding or has been a party to a
civil proceeding ending in 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.
<PAGE> 12 OF 20
(f) Each of Edison, Edison II, Edison Partners, and
Edison Partners II is a limited partnership organized under
the laws of the State of Delaware. Edison II-PA is a
limited partnership organized under the laws of the
Commonwealth of Pennsylvania. Each of the General Partners
is a United States citizen.
Item 3. Source and Amount of Funds or Other Consideration.
On June 26, 1991 the Issuer completed a $2,000,000
private placement of Preferred Stock. The issuer sold
71,507 shares of Series A Preferred Stock to Edison for a
purchase price of $772,275.60, 95,343 shares of Series A
Preferred Stock to Edison II for a purchase price of
$1,029,704.40, and 18,335 shares of Series A Preferred Stock
to Edison II-PA for a purchase price of $198,018.00. On
August 22, 1991 Edison acquired from the Issuer an
additional 5,959 shares of Series A Preferred Stock for a
purchase price of $64,357.20, Edison II acquired from the
Issuer an additional 7,945 shares of Series A Preferred Stock
for a purchase price of $85,806.00, and Edison II-PA
acquired from the Issuer an additional 1,528 shares of
Series A Preferred Stock for a purchase price of $16,502.40.
On October 18, 1993, each share of Series A Preferred Stock
was convertible into approximately 3.48 shares of the
Issuer's Shares.
On August 22, 1991, Mr. Bruce Lynch ("Lynch"), the
Issuer's founder sold 44,384 of the Issuer's Shares to
Edison for a purchase price of $128,713.60, 59,178 of the
Issuer's Shares to Edison II for a purchase price of
$171,616.20, and 11,381 of the Issuer's Shares to Edison II-
PA for a purchase price of $33,004.90. In addition, on
April 10, 1992 Lynch sold 16,990 of the Issuer's Shares to
Edison for a purchase price of $38,227.50, 22,654 of the
Issuer's Shares to Edison II for a purchase price of
$50,971.50, and 4,356 of the Issuer's Shares to Edison II-PA
for a purchase price of $9,801.00.
On October 19, 1993, the Issuer completed a $905,968
private placement of Series C Preferred Stock pursuant to
which the Issuer sold 66,182 shares of Series C Preferred
Stock to Edison for a purchase price of $66,182, 88,242
shares of Series C Preferred Stock to Edison II for a
purchase price of $88,242, and 16,970 shares of Series C
Preferred Stock to Edison II-PA for a purchase price of
$16,970. Each share of Series C Preferred Stock is
currently convertible into one share of the Issuer's Shares.
Pursuant to Rule 13d-3 of the Securities Exchange Act of
1934, each of Edison, Edison II, and Edison II-PA are deemed
to beneficially own the number of Shares into which each of
its respective shares of Series C Preferred Stock is
convertible.
In connection with the sale by the Issuer on October
19, 1993 of Series C Preferred Stock, the Issuer also
consummated a recapitalization pursuant to which the Issuer
issued 7.2 shares of its Shares in exchange for each
outstanding share of Series A Preferred Stock. Pursuant to
the recapitalization, Edison surrendered 77,466 shares of
series A Preferred Stock in exchange for 557,755 Shares,
Edison II surrendered 103,288 shares of Series A Preferred
Stock in exchange for 743,674 Shares, and Edison II-PA
surrendered 19,863 shares of Series A Preferred Stock in
exchange for 143,014 Shares.
<PAGE> 13 OF 20
For the period of October 25, 1995 through November 30,
1995 Edison sold 104,326 of the Issuer's Shares for the
amount of $274,337.00, Edison II sold 138,923 of the
Issuer's Shares for the amount of $365,309.00 and Edison II-
PA sold 26,751 of the Issuer's Shares for the amount of
$70,346.00.
Item 4. Purpose of Transaction.
Edison, Edison II and Edison II-PA sold an aggregate
total of 270,000 shares from October 25, 1995 through
November 30, 1995 after concluding that such sale was
consistent with overall portfolio management objectives and
consistent with their original investment objectives at the
time of making the initial investment. Edison, Edison II
and Edison II-PA are continuing to monitor market conditions
and may pursue additional sales from time to time, although
there can be no assurance of the total number of shares to
be sold. Edison, Edison II and Edison II-PA sold the
Issuer's Shares in the ordinary course of business and not
with any purpose of changing control of the Issuer. Edison,
Edison II and Edison II-PA currently intend to hold their
remaining securities for investment, but may, at some future
time depending on market conditions and other factors,
acquire additional securities (through one or more market
purchases or purchases in private transactions) or dispose
of all or a portion of the securities which it now owns or
hereafter may acquire (through one or more market or private
transactions or distributions to partners in accordance with
their partnership agreements). Except as set forth above,
Edison, Edison II and Edison II-PA do not have any present
plans or proposals which relate to or would result in any of
the actions describe in paragraphs (a) through (j) of Item 4
of Schedule 13D.
Item 5. Interest in Securities of Issuer.
(a) Edison owns beneficially and of record securities
currently convertible into or exercisable for 580,985 shares
of Common Stock. Edison II owns beneficially and of record
securities currently convertible into or exercisable for
774,825 shares of Common Stock. Edison II-PA owns
beneficially and of record securities currently convertible
into or exercisable for 148,970 shares of Common Stock.
Edison Partners, the sole general partner of Edison, and
Martinson, Defieux and Koven, the general partners of Edison
Partners, may be deemed to beneficially own the securities
held by Edison. Edison Partners II, the sole general
partner of Edison II and Edison II-PA, and the General
Partners, the general partners of Edison Partners II, may be
deemed to beneficially own the securities held by Edison II
and Edison II-PA.
Percent of Class: Edison owns benefically 7.6% of the
Common Stock of the Issuer. Edison II owns beneficially
10.2% of the Common Stock of the Issuer. Edison II-PA owns
beneficially 2.0% of the Common Stock of the Issuer. Edison
Partners may be deemed to beneficially own 7.6% of the
Common Stock of the Issuer. Edison Partners II and Smith
may be deemed to beneficially own 12.1% of the Common Stock
of the Issuer. Martinson and Defieux may be deemed to own
19.5% of the Common Stock of the Issuer. Koven may be
deemed to own 19.7% of the Common Stock of the Issuer.
<PAGE> 14 OF 20
The percentages are based on the 7,529,011 shares of
Common Stock reported to be outstanding on the Issuer's
Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 1995, including as outstanding for the purpose
of such calculation the shares of Common Stock Edison,
Edison II or Edison II-PA may have any right to acquire
within 60 days.
Gustav H. Koven, III is the record owner of options to
purchase 37,042 shares of Common Stock, of which options to
purchase 12,542 shares of Common Stock are currently
exercisable within sixty days.
None of the General Partners, Edison, Edison II, Edison
II-PA, Edison Partners or Edison Partners II beneficially
owns any other shares of Common Stock. Each of the General
Partners hereby disclaims any beneficial ownership in any
securities except to the extent of his pecuniary interest
therein.
(b) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Edison, 0; Edison II, 0; Edison II-PA, 0;
Edison Partners, 0; Edison Partners II, 0;
Martinson, 0; Defieux, 0; Smith 0; and
Koven, 12,542.
(ii) shared power to vote or to direct the vote:
Edison, 580,985; Edison II, 774,825;
Edison II-PA, 148,970; Edison Partners,
580,985; Edison Partners II, 923,795;
Martinson, 1,504,780; Defieux, 1,504,780;
Koven, 1,504,780; and Smith, 923,795.
(iii) sole power to dispose or to direct the
disposition of: Edison II, 0; Edison II, 0;
Edison II-PA, 0; Edison Partners, 0;
Edison Partners II, 0; Martinson, 0;
Defieux, 0; Smith, 0; and Koven, 12,542.
(iv) shared power to dispose or to direct the
disposition of: Edison, 580,985;
Edison II, 774,825; Edison II-PA, 148,970;
Edison Partners, 580,985; Edison Partners II,
923,795; Martinson, 1,504,780; Defieux,
1,504,780; Koven, 1,504,780; and Smith, 923,795.
(c) None of the General Partners, Edison, Edison II,
Edison II-PA, Edison Partners or Edison Partners II have
effected any transactions in the Common Stock during the
past sixty (60) days except for the transactions as reported
herein.
(d) No other interested persons.
<PAGE> 15 OF 20
(e) Martin G. Chilek, who has served as a general partner
of Edison Partners II, submitted a notice of resignation to
Edison Partners II on December 1, 1995. The effective date of
his resignation is expected to be approximately December 18, 1995,
at which time he will cease to be deemed a beneficial owner of
more than five percent of the class of securities.
Edison II-PA ceased to be the beneficial owner of
more than five percent of the class of securities on
November 30, 1995.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
Gustav H. Koven, III is a member of the Board of
Directors of the Issuer.
(a) Voting Agreement dated as of October 19, 1993 by and
among the Issuer, Edison, Edison II, Edison II-PA, and certain
other investors.*
(b) Issuer's Certificate of Designations, Preferences,
and Rights of Series C Preferred Stock dated as of October
19, 1993 by and among Edison, Edison II, Edison II-PA, and
certain other investors.*
(c) Series C Stock Purchase, Recapitalization and
Exchange Agreement dated as of October 19, 1993 by and among
the Issuer, Edison, Edison II, Edison II-PA, and certain
other investors.*
Except as described elsewhere herein, there are no
contracts, arrangements, understandings or relationships
(legal or otherwise) among Edison, Edison II, Edison II-PA,
Edison Partners, Edison Partners II and the General Partners
or between any such persons and any other person with
respect to the transfer or voting of any of the securities,
finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or
losses or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
Exhibit I - Joint Filing Agreement Pursuant to Rule 3d-
1(f)(iii).
* Originally filed as an Exhibit to Schedule 13D dated
June 26,1991 as amended by Amendment No. 1 to Schedule 13D
dated August 22, 1991, Amendment No. 2 to Schedule 13D dated
January 29, 1992, Amendment No. 3 to Schedule 13D dated
April 10, 1992, and Amendment No. 4 to Schedule 13D dated
October 19, 1993 by the parties hereto, which, along with
the amendment, is incorporated herein by reference.
<PAGE> 16 OF 20
SIGNATURE
After reasonable inquiry and as to the best of our
knowledge and belief, we certify that the information set
forth in this statement is true, complete and correct.
Dated: December 13, 1995 EDISON VENTURE FUND, L.P.
By: Edison Partners, L.P., General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON VENTURE FUND II, L.P.
By: Edison Partners II, L.P, General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON VENTURE FUND II - PA, L.P.
By: Edison Partners II, L.P., General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON PARTNERS, L.P.
By: /s/ Gustav H. Koven, III
General Partner
EDISON PARTNERS II, L.P.
By: /s/ Gustav H. Koven, III
General Partner
/s/ John H. Martinson
John H. Martinson
/s/ Richard J. Defieux
Richard J. Defieux
/s/ Gustav H. Koven, III
Gustav H. Koven, III
/s/Thomas A. Smith
Thomas A. Smith
<PAGE> 17 OF 20
/s/ Martin G. Chilek
Martin G. Chilek
<PAGE> 18 OF 20
EXHIBIT I
Agreement
Pursuant to Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934, the undersigned hereby agree that only
one statement containing the information required on
Schedule 13D, as amended, need be filed with respect to
ownership by each of the undersigned of capital stock of The
Software Developer's Company, Inc.
This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original.
Dated: December 13, 1995 EDISON VENTURE FUND, L.P.
By: Edison Partners, L.P., General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON VENTURE FUND II, L.P.
By: Edison Partners II, L.P., General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON VENTURE FUND II - PA, L.P.
By: Edison Partners II, L.P., General Partner
By: /s/ Gustav H. Koven, III
General Partner
EDISON PARTNERS, L.P.
By: /s/ Gustav H. Koven, III
General Partner
EDISON PARTNERS II, L.P.
By: /s/ Gustav H. Koven, III
General Partner
/s/ John H. Martinson
John H. Martinson
/s/ Richard J. Defieux
Richard J. Defieux
<PAGE> 19 0F 20
/s/ Gustav H. Koven, III
Gustav H. Koven, III
/s/ Thomas A. Smith
Thomas A. Smith
<PAGE> 20 OF 20
/s/ Martin G. Chilek
Martin G. Chilek
