<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NEW FRONTIER MEDIA, INC.
(NAME OF ISSUER)
COMMON STOCK
(TITLE OF CLASS OF SECURITIES)
644398109
(CUSIP NUMBER)
KLEHR, HARRISON, HARVEY, BRANZBURG & ELLERS LLP
ATTN: BARRY J. SIEGEL, ESQ.
1401 WALNUT STREET
PHILADELPHIA, PA 19102
(215) 569-4293
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
FEBRUARY 12, 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 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.
*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 (the "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 7
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CUSIP No. 644398109 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
Pleasure Licensing LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
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 1,400,000
NUMBER OF
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY
--------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER 1,400,000
PERSON
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 1,400,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%(1)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* 00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
(1) The percent of class represented by the amount in row 11 reflects the
Reporting Person's beneficial ownership of the Issuer's common stock.
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CUSIP No. 644398109 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
Michael Koretsky
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 1,400,000(2)
OWNED BY
--------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER 0
PERSON
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER 1,400,000(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 1,400,000(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
(2) Consists of shares of common stock beneficially owned by Pleasure Licensing
LLC that Michael Koretsky may also be deemed to beneficially own.
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CUSIP No. 644398109 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
Frank Koretsky
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 1,400,000(3)
OWNED BY
--------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER 0
PERSON
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER 1,400,000(3)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON 1,400,000(3)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
(3) Consists of shares of common stock beneficially owned by Pleasure Licensing
LLC that may also be deemed to be beneficially owned by Frank Koretsky.
<PAGE>
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CUSIP No. 644398109 Page 5 of 7 Pages
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SCHEDULE 13D
This statement (the "Statement") relates to the common stock, par
value $0.0001 per share (the "Common Stock") of New Frontier Media, Inc., a
Colorado corporation (the "Issuer"). This Statement constitutes an initial
filing of Schedule 13D by Pleasure Licensing LLC ("Pleasure"), Michael Koretsky
and Frank Koretsky (collectively, the "Reporting Persons").
ITEM 1 SECURITY AND ISSUER
This Statement relates to the Issuer's Common Stock. The address of
the Issuer's principal executive office is 1050 Walnut Street, Suite 301,
Boulder, CO 80302.
ITEM 2 IDENTITY AND BACKGROUND
(a) This Statement is filed jointly on behalf of the Reporting
Persons, as defined above.
(b-c) The address of Pleasure's principal executive office is 59 Lake
Drive, P.O. Box 946, Hightstown, New Jersey 08502. Pleasure's principal business
is the licensing of video rights. Each of Michael and Frank Koretsky own 50% of
the outstanding membership interests of Pleasure. Michael Koretsky resides at
1064 Buck Creek Circle, Yardley PA 10674. His principal occupation is the
production, licensing and distribution of video rights through Pleasure,
Pleasure Productions, Inc. and affiliated companies, 59 Lake Drive, P.O. Box
946, Hightstown NJ 08502. Frank Koretsky resides at 17 Astor Drive, Manalapan NJ
07726. His principal occupation is the production, licensing and distribution of
video rights through Pleasure, Pleasure Productions, Inc. and affiliated
companies, 59 Lake Drive, P.O. Box 946, Hightstown NJ 08502.
(d) During the last five years, none of Pleasure, Michael Koretsky
and Frank Koretsky have been convicted in any criminal proceeding.
(e) During the last five years, none of Pleasure, Michael Koretsky
and Frank Koretsky have been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction, as a result of which it or he 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.
(f) Michael Koretsky and Frank Koretsky are citizens of the United
States.
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The securities were acquired by Pleasure in consideration for a
license granted pursuant to a License Agreement dated February 12, 1999.
ITEM 4 PURPOSE OF THE TRANSACTION
The securities were acquired in connection with a transaction (the
"Transaction") whereby Pleasure granted a license to Colorado Satellite
Broadcasting, Inc, a subsidiary of the Issuer, to certain video rights.. In
connection with the Transaction, Michael Koretsky and Frank Koretsky entered
into Consulting Agreements with the Issuer. Under the terms of the Consulting
Agreements, each of Michael Koretsky and Frank Koretsky received warrants to
purchase 250,000 shares of Common Stock at $2.125 per share, subject to
adjustment. Twenty-five percent of such warrants become exercisable on each of
February 12, 2000, 2001, 2002 and 2003 and expire on February 12, 2004.
In addition, the Issuer will issue to each of Michael Koretsky and
Frank Koretsky (i) on February 12, 2000,
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CUSIP No. 644398109 Page 6 of 7 Pages
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warrants to purchase 100,000 shares of Common Stock, (ii) on February 12, 2001,
warrants to purchase 100,000 shares of Common Stock and (iii) on February 12,
2002, warrants to purchase 50,000 shares of Common Stock. Such warrants shall be
exercisable for three years from the date of issuance at an exercise price equal
to the average closing price of the Common Stock for the 5 days preceding the
date of issuance.
Pursuant to the Consulting Agreement, Michael Koretsky has the right
to be appointed to the Board of Directors of the Issuer.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a-b) As of February 12, 1999, Pleasure is the beneficial owner of,
and has sole dispositive and voting power with respect to, 1,400,000 shares of
Common Stock, including currently exercisable warrants to purchase 700,000
shares of Common Stock. The 1,400,000 shares constitute 17.6% of the issued and
outstanding shares of Common Stock (based on 7,242,000 shares of Common Stock
issued and outstanding as of the date hereof, which consists of 6,542,000 shares
of Common Stock issued and outstanding as reported in the Issuer's Quarterly
Report on Form 10-Q for the quarter ended September 30, 1998 and 700,000 newly
issued shares of Common Stock reported herein). Neither Michael Koretsky nor
Frank Koretsky beneficially own (for purposes of Rule 13d-3 promulgated under
the Securities Exchange Act of 1934) any shares of Common Stock, except to any
extent that they are deemed to beneficially own the shares of Common Stock
reported herein as beneficially owned by Pleasure.
(c) Except for the transactions described in Items 3 and 4 above,
none of Pleasure, Michael Koretsky or Frank Koretsky has effected any
transactions in the securities of the Issuer during the past sixty (60) days.
(d) No persons, other than Pleasure, Michael Koretsky and Frank
Koretsky, have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the shares of Common Stock
beneficially owned thereby.
(e) Not applicable.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
As described in Item 4, Michael Koretsky and Frank Koretsky have
entered into Consulting Agreements with the Issuer pursuant to which they are to
receive warrants to purchase shares of the Issuer's Common Stock. The Warrants
issued to Pleasure provide that the holder may not sell, in any ninety day
period, a number of shares of Common Stock more than the number of shares as
would be permitted to be sold pursuant to the limitations contained in Rule
144(e)(1) promulgated under the Securities Act of 1933.
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS
None.
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CUSIP No. 644398109 Page 7 of 7 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this Statement is true, complete
and correct.
February 22, 1999
Date
Pleasure Licensing LLC
By: /s/ Michael Koretsky
---------------------------------
Michael Koretsky
Member
/s/ Michael Koretsky
---------------------------------
Michael Koretsky
/s/ Frank Koretsky
---------------------------------
Frank Koretsky
