SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)1
CROSSZ SOFTWARE CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK
- --------------------------------------------------------------------------------
(Title of class of securities)
- --------------------------------------------------------------------------------
227698 10 7
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
- --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
December 23, 1997
- --------------------------------------------------------------------------------
(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
/ /*.
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.
(Continued on following pages)
(Page 1 of 26 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. 227698 10 7 13D Page 2 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 461,559(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
32,035(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
461,559(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
32,035(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
493,594(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by Wheatley Partners, L.P.
(2) Includes 371 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign Partners, L.P. to which
Wheatley Partners, L.P. disclaims beneficial ownership.
<PAGE>
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CUSIP No. 227698 10 7 13D Page 3 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Rubenstein
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 56,250(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
837,906(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
56,250(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
837,906(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
894,156(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of Common Stock issuable upon exercise of currently
exercisable options held by Mr. Rubenstein.
(2) Includes (i) 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Woodland Partners, (ii) 3,125
shares of Common Stock issuable upon exercise of currently exercisable
warrants owned by Woodland Venture Fund, (iii) 3,125 shares of Common
Stock issuable upon exercise of currently exercisable warrants owned by
Seneca Ventures, (iv) 5,879 shares of Common Stock issuable upon
exercise of currently exercisable warrants owned by Wheatley Partners,
L.P., (v) 371 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Foreign Partners, L.P.
and (vi) 200,000 shares of Common Stock issuable upon exercise of
currently exercisable options owned by Rev-Wood Merchant Partners. Mr.
Rubenstein disclaims beneficial ownership of the securities owned by
Woodland Partners, Woodland Venture Fund, Seneca Ventures, Wheatley
Partners, L.P., Wheatley Foreign Partners, L.P. and Rev-Wood Merchant
Partners except to the extent of his equity interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 4 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Irwin Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 56,250(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
56,250(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
549,844(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of Common Stock issuable upon exercise of currently
exercisable options held by Mr. Lieber.
(2) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants owned by Wheatley Foreign Partners, L.P. to which Mr. Lieber
disclaims beneficial ownership, except to the extent of his equity
interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 5 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Fingerhut
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(1) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
493,594(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
Warrants held by Wheatley Foreign Partners, L.P., to which Mr.
Fingerhut disclaims beneficial ownership except to the extent of his
equity interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 6 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(1) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
493,594(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign Partners, L.P., to which Wheatley
Partners LLC disclaims beneficial ownership, except to the extent of
its equity interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 7 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Seth Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,084(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,084(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
495,678(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of Common Stock issuable upon exercise of currently
exercisable options.
(2) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign Partners, L.P., to which Mr. Lieber
disclaims beneficial ownership except to the extent of his equity
interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 8 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jonathan Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,084(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,084(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
495,678(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of Common Stock issuable upon exercise of currently
exercisable options.
(2) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign Partners, L.P., to which Mr. Lieber
disclaims beneficial ownership, except to the extent of his equity
interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 9 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Matthew A. Smith
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 8,334(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
8,334(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
501,928(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of Common Stock issuable upon exercise of currently
exercisable options.
(2) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign Partners, L.P., to which Mr. Smith
disclaims beneficial ownership, except to the extent of his equity
interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 10 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Management Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Cayman Islands, B.W.I.
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
493,594(1) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
493,594(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
493,594(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Wheatley Partners, L.P. and 371
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign Partners, L.P., to which Wheatley
Management, Ltd. disclaims beneficial ownership, except to the extent
of its equity interest therein.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 11 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Foreign Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 32,035(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
461,559(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
32,035(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
461,559(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
493,594(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 371 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign Partners, L.P.
(2) Includes 5,879 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by Wheatley Partners, L.P. to which
Wheatley Foreign Partners, L.P. disclaims beneficial ownership.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 12 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Seneca Ventures
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 43,606(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
100,706 shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
43,606(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
100,706 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
144,312(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by Seneca Ventures.
(2) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by each of Woodland Partners and
the Woodland Venture Fund, to which Seneca Ventures disclaims
beneficial ownership.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 13 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Woodland Venture Fund
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 57,100(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
87,212(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
57,100(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
87,212(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
144,312(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by Woodland Venture Fund.
(2) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by each of Woodland Partners and
Seneca Ventures, to which Woodland Venture Fund disclaims beneficial
ownership.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 14 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Woodland Partners
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 43,606(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
100,706(2) shares
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
43,606(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
100,706(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
144,312(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by Woodland Partners.
(2) Includes 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by each of the Woodland Venture
Fund and Seneca Ventures, to which Woodland Partners disclaims
beneficial ownership.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 15 of 26 Pages
- -------------------------------- ---------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Rev-Wood Merchant Partners
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 200,000(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
-------------------------------------------------------------------
8 SHARED VOTING POWER
0
-------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
200,000(1) shares
-------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
200,000(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of shares of Common Stock issuable upon exercise of currently
exercisable options.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 16 of 26 Pages
- -------------------------------- ---------------------------
Item 2 is amended to include the following:
Item 2. Identity and Background.
------------------------
14. (a) Rev-Wood Merchant Partners ("Rev-Wood"), a general
partnership organized under the laws of the State of New York.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
(d) No.
(e) No.
Barry Rubenstein is a general partner of Rev-Wood.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 17 of 26 Pages
- -------------------------------- ---------------------------
Item 5. is hereby amended to read in its entirety as follows:
Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) The following table sets forth the aggregate number and
percentage (based on 5,116,549 shares of Common Stock outstanding as of January
5, 1998) of Common Stock beneficially owned by each Reporting Person named in
Item 2 of Schedule 13D.
Percentage of
Shares of Common Shares of Common
Stock Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Wheatley Partners, L.P.(1) 493,594 9.6%
Barry Rubenstein(2) 894,156 16.6%
Irwin Lieber(3) 549,844 10.6%
Barry Fingerhut(4) 493,594 9.6%
Wheatley Partners LLC(4) 493,594 9.6%
Seth Lieber(4) 495,678 9.7%
Jonathan Lieber(4) 495,678 9.7%
Matthew A. Smith(4) 501,928 9.8%
Wheatley Management Ltd.(4) 493,594 9.6%
Wheatley Foreign Partners, L.P.(5) 493,594 9.6%
Seneca Ventures (6) 144,312 2.8%
Woodland Venture Fund (7) 144,312 2.8%
Woodland Partners (8) 144,312 2.8%
Rev-Wood Merchant Partners (9) 200,000 3.8%
- ---------------------
(1) Includes (i) 455,680 shares of Common Stock owned by Wheatley and 5,879
shares of Common Stock issuable upon exercise of warrants currently
exercisable held by Wheatley and (ii) 31,664 shares of Common Stock
owned by Wheatley Foreign and 371 shares of Common Stock issuable upon
exercise of warrants currently exercisable held by Wheatley Foreign to
which Wheatley disclaims beneficial ownership.
(2) Includes (i) 56,250 shares of Common Stock issuable upon exercise of
currently exercisable options held by Mr. Rubenstein, (ii) 40,481
shares of Common Stock and 3,125 shares of Common Stock issuable upon
exercise of currently exercisable warrants owned by Woodland Partners
of which Mr. Rubenstein is a general partner, (iii) 53,975 shares of
Common Stock and 3,125 shares of Common Stock issuable upon exercise of
currently exercisable warrants owned by Woodland Fund of which Mr.
Rubenstein is a general partner, (iv) 40,481 shares of Common Stock and
3,125 shares of Common Stock issuable upon exercise of currently
exercisable warrants owned by Seneca of which Mr. Rubenstein is a
general partner, (v) 455,680 shares of Common Stock and 5,879 shares of
Common Stock issuable upon exercise of currently exercisable warrants
owned by Wheatley Partners, L.P., (vi) 31,664 shares of Common Stock
and 371 shares of Common Stock issuable upon exercise of currently
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 18 of 26 Pages
- -------------------------------- ---------------------------
exercisable warrants owned by Wheatley Foreign and (vii) 200,000 shares
of Common Stock issuable upon exercise of currently exercisable options
owned by Rev-Wood. Mr. Rubenstein disclaims beneficial ownership of the
securities owned by Woodland Partners, Woodland Fund, Seneca, Wheatley
Partners, L.P., Wheatley Foreign Partners, L.P. and Rev-Wood except to
the extent of his equity interest therein.
(3) Includes (i) 56,250 shares of Common Stock issuable upon exercise of
currently exercisable options held by Mr. Lieber and (ii) 455,680
shares of Common Stock and 5,879 shares of Common Stock issuable upon
exercise of currently exercisable warrants owned by Wheatley Partners,
L.P., 31,664 shares of Common Stock and 371 shares of Common Stock
issuable upon exercise of currently exercisable warrants owned by
Wheatley Foreign. Mr. Lieber disclaims beneficial ownership of the
securities owned by Wheatley Partners, L.P. and Wheatley Foreign
Partners, L.P., except to the extent of his equity interest therein.
(4) The Reporting Person disclaims beneficial ownership of these securities
except to the extent of his or its equity ownership in Wheatley and/or
Wheatley Foreign.
(5) Includes (i) 31,664 shares of Common Stock owned by Wheatley Foreign
and 371 shares of Common Stock issuable upon exercise of warrants
currently exercisable held by Wheatley Foreign and (ii) 455,680 shares
of Common Stock owned by Wheatley and 5,879 shares of Common Stock
issuable upon exercise of warrants currently exercisable held by
Wheatley, to which Wheatley Foreign disclaims beneficial ownership.
(6) Includes (i) 40,481 shares of Common Stock owned by Seneca and 3,125
shares of Common Stock issuable upon exercise of warrants currently
exercisable held by Seneca and (ii) 53,975 and 40,481 shares of Common
Stock owned by the Woodland Fund and Woodland Partners, respectively,
and 3,125 shares of Common Stock issuable upon exercise of warrants
currently exercisable held by each of Woodland Fund and Woodland
Partners, to which Seneca disclaims beneficial ownership.
(7) Includes (i) 53,975 shares of Common Stock owned by Woodland Fund and
3,125 shares of Common Stock issuable upon exercise of warrants
currently exercisable held by Woodland Fund and (ii) 40,481 shares of
Common Stock owned by each of Seneca and Woodland Partners, and 3,125
shares of Common Stock issuable upon exercise of warrants currently
exercisable held by each of Seneca and Woodland Partner, respectively,
to which Woodland Fund disclaims beneficial ownership.
(8) Includes (i) 40,481 shares of Common Stock owned by Woodland Partners
and 3,125 shares of Common Stock issuable upon exercise of warrants
currently exercisable held by Woodland Partners and (ii) 40,481 and
53,975 shares of Common Stock owned by Seneca and Woodland Fund,
respectively, and 3,125 shares of Common Stock issuable upon exercise
of warrants currently exercisable held by each of Seneca and Woodland
Fund, respectively, to which Woodland Partners disclaims beneficial
ownership.
(9) Consists of 200,000 shares of Common Stock issuable upon exercise of
currently exercisable options.
(b) Wheatley has sole power to vote and dispose of 461,559
shares of Common Stock, representing approximately 9.0% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 32,035 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 19 of 26 Pages
- -------------------------------- ---------------------------
By virtue of being the general partner of Wheatley and
Wheatley Foreign, Wheatley LLC may be deemed to have shared power to vote and
dispose of 493,594 shares of Common Stock, representing approximately 9.6% of
the outstanding shares of Common Stock.
Barry Rubenstein, Irwin Lieber, Seth Lieber, Jonathan Lieber
and Matthew A. Smith each have sole power to vote and dispose of 56,250, 56,250,
2,084, 2,084 and 8,334 shares of Common Stock upon the exercise of options. By
virtue of each being a member and an officer of Wheatley LLC, each of Barry
Rubenstein, Irwin Lieber, Barry Fingerhut, Seth Lieber, Jonathan Lieber and
Matthew A. Smith may be deemed to have shared power to vote and dispose of
493,594 shares of Common Stock, representing approximately 9.6% of the
outstanding shares of Common Stock. In addition, by virtue of being a general
partner of Seneca, Woodland Partners, Woodland Fund and Rev-Wood, Mr. Rubenstein
may be deemed to have shared power to vote and dispose of 344,312 shares of
Common Stock, representing approximately 6.5% of the outstanding shares of
Common Stock.
Wheatley Foreign has sole power to vote and dispose of 32,035
shares of Common Stock representing less than 1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
461,559 shares of Common Stock, representing approximately 9.0% of the
outstanding shares of Common Stock.
By virtue of being a general partner of Wheatley Foreign,
Wheatley Management may be deemed to have shared power to vote and dispose of
493,594 shares of Common Stock, representing approximately 9.6% of the
outstanding shares of Common Stock.
Seneca has sole power to vote and dispose of 43,606 shares of
Common Stock representing less than 1% of the outstanding shares of Common Stock
and may be deemed to have shared power to vote and dispose of 100,706 shares of
Common Stock, representing approximately 2.0% of the outstanding shares of
Common Stock.
Woodland Fund has sole power to vote and dispose of 57,100
shares of Common Stock representing approximately 1.1% of the outstanding shares
of Common Stock and may be deemed to have shared power to vote and dispose of
87,212 shares of Common Stock, representing approximately 1.7% of the
outstanding shares of Common Stock.
Woodland Partners has sole power to vote and dispose of 43,606
shares of Common Stock representing less than 1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
100,706 shares of Common Stock, representing approximately 2.0% of the
outstanding shares of Common Stock.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 20 of 26 Pages
- -------------------------------- ---------------------------
Rev-Wood has sole power to vote and dispose of 200,000 shares
of Common Stock representing 3.8% of the outstanding shares of Common Stock.
(c) The following table sets forth a description of all
transactions in shares of Common Stock of the Issuer by the Reporting Persons
identified in Item 2 of this Schedule 13D effected in the last sixty days.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 21 of 26 Pages
- -------------------------------- ---------------------------
Number of
Purchase/ Shares
Acquisition Purchased/ Purchase
Name of Shareholder Date Acquired Price
- ------------------- ---- -------- -----
Wheatley Partners, 11/20/97 138,344 6.25
L.P.
11/25/97 317,336 Conversion
of
Preferred
Stock
Wheatley Foreign 11/20/97 11,656 6.25
Partners, L.P.
11/25/97 20,008 Conversion
of
Preferred
Stock
Seneca Ventures 11/25/97 40,481 Conversion
of
Preferred
Stock
Woodland Venture Fund 11/25/97 53,975 Conversion
of
Preferred
Stock
Woodland Partners 11/25/97 40,481 Conversion
of
Preferred
Stock
Rev-Wood Merchant 12/23/97 200,000 Grant of
Partners Stock
Options
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the receipt of dividends from,
or proceeds from the sale of, such shares of Common Stock.
Wheatley and Wheatley Foreign acquired the shares of Common Stock
purchased on November 20, 1997 in open market transactions.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits
--------------------------------
Exhibit A. Joint Filing Agreement.
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 22 of 26 Pages
- -------------------------------- ---------------------------
SIGNATURES
----------
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: January 6, 1998 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
General Partner
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
WHEATLEY PARTNERS LLC
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
/s/ Barry Rubenstein
---------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------
Barry Fingerhut
/s/ Seth Lieber
---------------------------------
Seth Lieber
/s/ Jonathan Lieber
---------------------------------
Jonathan Lieber
/s/ Matthew A. Smith
---------------------------------
Matthew A. Smith
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 23 of 26 Pages
- -------------------------------- ---------------------------
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
---------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
---------------------------------
By: Wheatley Partners LLC, General
Partner
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
SENECA VENTURES
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
WOODLAND VENTURE FUND
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
REV-WOOD MERCHANT PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 24 of 26 Pages
- -------------------------------- ---------------------------
EXHIBIT INDEX
-------------
Exhibit Page
- ------- ----
A. Joint Filing Agreement 25
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 25 of 26 Pages
- -------------------------------- ---------------------------
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D dated November
25, 1997 (including amendments thereto) with respect to the Common Stock of
CrossZ Software Corporation. This Joint Filing Agreement shall be filed as an
Exhibit to such Statement.
Dated: January 6, 1998 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
General Partner
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
WHEATLEY PARTNERS LLC
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
/s/ Barry Rubenstein
---------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------
Barry Fingerhut
/s/ Seth Lieber
---------------------------------
Seth Lieber
/s/ Jonathan Lieber
---------------------------------
Jonathan Lieber
/s/ Matthew A. Smith
---------------------------------
Matthew A. Smith
<PAGE>
- -------------------------------- ---------------------------
CUSIP No. 227698 10 7 13D Page 26 of 26 Pages
- -------------------------------- ---------------------------
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
---------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
---------------------------------
By: Wheatley Partners LLC, General
Partner
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, Chief Executive
Officer
SENECA VENTURES
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
WOODLAND VENTURE FUND
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
REV-WOOD MERCHANT PARTNERS
By: /s/ Barry Rubenstein
---------------------------------
Barry Rubenstein, a General
Partner
