SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
Odyssey Pictures Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
676121 10 6
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(CUSIP Number)
Howard J. Kerker, P.C.
600 Madison Avenue, 25th Floor
New York, New York 10022
212-758-0700
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 19, 1998
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(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.
*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 ("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).
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SCHEDULE 13D
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CUSIP NO. 676121 10 6
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1) Name of Reporting Persons/S.S. or I.R.S. Identification
Nos. of Above Persons.
Stephen R. Greenwald
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2) Check the Appropriate Row if a Member of a Group: a) [ ]
b) [ ]
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3) SEC Use Only
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4) Source of Funds
OO
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5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Item
2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization
United States Citizen
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Number of 7) Sole Voting Power
Shares 648,725
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Beneficially 8) Shared Voting Power
Owned by -0-
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Each Reporting 9) Sole Dispositive Power
Person With 648,725
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10) Shared Dispositive Power
-0-
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11) Aggregate Amount Beneficially Owned by Reporting Person
648,725
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12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares [ ]
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13) Percent of Class Represented by Amount in Row (11)
8.8%
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14) Type of Reporting Person
IN
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1
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Item 1. Security and Issuer.
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Common Stock, par value $.01 per share, of Odyssey Pictures
Corporation, 1601 Elm Street, Suite 4000, Dallas, Texas 75201.
Item 2. Identity and Background.
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(a) Stephen R. Greenwald
(b) c/o Herbst & Greenwald LLP, 380 Lexington Ave., New York,
New York 10168
(c) Managing Director, Odyssey Pictures Corporation; Partner,
Herbst & Greenwald LLP, 380 Lexington Avenue, New York,
New York 10168.
(d) Not applicable.
(e) Not applicable.
(f) United States citizen.
Item 3. Source and Amount of Funds or Other Consideration.
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On November 19, 1998, the reporting person converted $44,968 of deferred
compensation notes of the issuer into 145,058 shares of Common Stock at a
conversion price of $.31 per share.
Item 4. Purpose of Transaction.
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The purpose of the transaction was to convert a debt obligation of the
issuer into equity securities of the issuer.
Item 5. Interest in Securities of the Issuer.
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(a) 648,725 shares beneficially owned (including presently exercisable
options to purchase 375,000 shares of common stock), representing 8.8% of class.
(b) Reporting person has sole power to vote and dispose of the shares
referred to in (a); no other person shares voting or dispositive power with
respect to such shares.
(c) See Item 3.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
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Not Applicable
Item 7. Material to be Filed as Exhibits.
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Not Applicable.
2
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
hereby certify that the information set forth in this statement is true,
complete and correct.
January 19, 1999
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(Date)
/s/ Stephen R. Greenwald
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(Signature)
Stephen R. Greenwald
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(Name and Title)
3
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