SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.____3_______)*
Bradley Pharmaceuticals, Inc.
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(Name of Issuer)
Class A Common Stock, no par value
-------------------------------------------------------------
(Title of Class of Securities)
104576103
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing 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.)
*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 in 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>
CUSIP No. 104576103 13G Page 2 of 8 Pages
- - - --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morton Davis
- - - --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- - - --------------------------------------------------------------------------------
3 SEC USE ONLY
- - - --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- - - --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 569,920
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 569,920
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- - - --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
569,920
- - - --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- - - --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.0%
- - - --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- - - --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 104576103 13G Page 3 of 8 Pages
- - - --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Holdings, Inc.
- - - --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- - - --------------------------------------------------------------------------------
3 SEC USE ONLY
- - - --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- - - --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 512,920
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
512,920
- - - ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
512,920
- - - --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- - - --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.3%
- - - --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- - - --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 104576103 13G Page 4 of 8 Pages
- - - --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Investment Banking Corp.
- - - --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- - - --------------------------------------------------------------------------------
3 SEC USE ONLY
- - - --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- - - --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 512,920
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
512,920
- - - ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
512,920
- - - --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- - - --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.3%
- - - --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BD
- - - --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 5 of 8 Pages
Item 1. (a) Name of Issuer:
Bradley Pharmaceuticals, Inc.
(b) Address of Issuer's Principal Executive Offices:
383 Route 46 West
Fairfield, New Jersey 07004
Item 2. (a) Name of Person Filing:
J. Morton Davis, D.H. Blair Holdings, Inc. ("Blair
Holdings'), and D.H. Blair Investment Banking Corp. ("Blair
Investment") (1). See attached Exhibit A which is a copy o
ftheir agreement in writing to file this statement on behalf
of each of them.
(b) Address of Principal Business Office:
Mr. Davis', Blair Holdings', and Blair Investment's business
address is 44 Wall Street, New York, New York 10005.
(c) Citizenship:
Mr. Davis is a United States citizen. Blair Holdings and
Blair Investment are incorporated in the State of Delaware.
(d) Title of Class of Securities:
Class A Common Stock, no par value ("shares")
(e) CUSIP Number:
104576103
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [X] Broker or Dealer registered under Section 15 of the
Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Section
240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) ( ) Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H)
______________________________________________________________________________
(1) J. Morton Davis is the sole shareholder and Chairman of the Board of Blair
Holdings. Blair Holdings is the parent company and sole shareholder of Blair
Investment.
<PAGE>
Page 6 of 8 Pages
Item 4. Ownership.
(a) (b) As of December 31, 1995, Mr. Davis may be deemed to
beneficially own 569,920 shares or 8.2% of the Issuer's shares.
Of these shares, (i) 21,000 shares underlie a Unit Purchase
Option to purchase 3,000 Units (2) at $8.10 per Unit owned
directly by Mr. Davis and exercisable through November 12, 1996;
(ii) 36,000 shares underlie a Unit Purchase Option to purchase 1
Unit (3) at $45,000 per Unit owned directly by Mr. Davis and
exercisable through December 10, 1998; (iii) 200,970 shares
underlying a Unit Purchase Option to purchase 28,710 Units (2)
at $8.10 per Unit owned directly by Blair Investment and
exercisable through November 12, 1996; (iv) 235,800 shares
underlying a Unit Purchase Option to purchse 6.55 Units (3) at
$45,000 per Unit owned directly by Blair Investment exercisable
through December 10, 1998; (v) 65,150 shares underlying 65,150
Class B Warrants owned directly by Blair Investment; and (vi)
11,000 shares owned directly by Blair Investment.
As of December 31, 1995, Blair Holdings and Blair Investment
may be deemed to beneficially own 511,920 shares or 6.3% as
indicated in (iii) - (vi) above.
(c) Mr. Davis has sole power to vote or to direct the vote, to
dispose or to direct the disposition of those shares owned by Blair
Investment. He has sole voting and dispositive power over those
shares owned directly by him.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below we certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
______________________________________________________________________________
(2) Each Unit consists of two shares, two Class A Warrants and one Class B
Warrant. Each Class A Warrant entitles the holder thereof to purchase at $4.50
until November 12, 1996 one share and one Class B Warrant. Each Class B
Warrant entitles the holder thereof to purchase one share at an exercise price
of $6.75 per share until November 12, 1996.
(3) Each Unit consists of 24,000 shares and 12,000 Class D Warrants. Each
Class D Warrant is exercisable to purchase one share at an exercise price of
$3.00 through December 10, 1998.
<PAGE>
Page 7 of 8 pages
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
we certify that the information set forth in this statement is true,
complete and correct.
Date: February 14, 1996
By: /s/ J. Morton Davis
-------------------------------
J. Morton Davis
Date: February 14, 1996
D.H. Blair Holdings, Inc.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
Date: February 14, 1996
D.H. Blair Investment Banking Corp.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree to jointly prepare and file with regulatory
authorities a Schedule 13G and any future amendments thereto reporting each of
the undersigned's ownership of securities of Bradley Pharmaceuticals, Inc.,
and hereby affirm that such Schedule 13G is being filed on behalf of each
of the undersigned.
Date: February 14, 1996
By: /s/ J. Morton Davis
-------------------------------
J. Morton Davis
Date: February 14, 1996
D.H. Blair Holdings, Inc.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
Date: February 14, 1996
D.H. Blair Investment Banking Corp.
By: /s/ David Nachamie
-------------------------------
David Nachamie
Treasurer
