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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under The Securities Exchange Act Of 1934
(Amendment No. 1 )
insci-statements.com, corp.
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(Name of Issuer)
Common Stock $/01 par value per share
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(Title of Class of Securities)
45765T106
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(CUSIP Number)
Joseph A. Baratta
Baratta & Goldstein
597 Fifth Avenue
New York, NY 10017
212-750-9700
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
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(Date of Event which Requires the 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 [ ].
* 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).
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CUSIP No. 45765T106 13D
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dr. E Ted Prince
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
------------------------------------------------------------ (a) [ ]
------------------------------------------------------------ (b) [ ]
3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
OO
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5. CHECK IF DISCLOSURE LO LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A
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NUMBER OF 7. SOLE VOTING POWER
SHARES 1,456,787
BENEFICIALLY -------------------------------
OWNED BY 8. SHARED VOTING POWER
EACH 0
REPORTING -------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH 1,456,787
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10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,456,787
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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
12.4%
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14. TYPE OF REPORTING PERSON*
IN
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SCHEDULE 13D
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ITEM 1. SECURITY AND ISSUER.
This Schedule is filed with respect to the Common Stock , $.01 par
value (the "Common Stock") of the issuer, insci-statements.com,
corp., formerly known as Insci Corp. ("insci"). insci's principal
executive offices are located at Two Westborough Business Park,
Westborough, Massachusetts 01581.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Schedule 13D is filed on behalf of Dr. E. Ted Prince (the
"Reporting Person").
(b) The Reporting Person's principal business address at Two
Westborough Business Park, Westborough, Massachusetts 01581.
(c) The present principal occupation of the Reporting person Chairman
of the Board of Directors and Chief Executive Officer of insci. The
address of insci is at Two Westborough Business Park, Westborough,
Massachusetts 01581.
(d) During the last five years, the Reporting Person has not been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) During the last five years, the Reporting Person has not been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction that resulted 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.
(f) The Reporting Person is a citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The reporting person has previously reported beneficial ownership
of 1,248,180 shares of Common Stock on Schedule 13D. Subsequently,
the Reporting Person has acquired and or has become vested in an
additional 325,000 options pursuant to his employment contract with
the Issuer . Additionally, the Reporting Person had previously
purchased nominal amounts of Common Stock (11,000 shares) with
personal funds and converted shares of 10% Convertible Preferred
Stock and received dividends, both in the form of Common Stock
(26,787 shares).
ITEM 4. PURPOSE OF TRANSACTION.
(a) The shares of Common Stock reported in this Schedule are held for
investment purposes. Depending upon trading prices of Common Stock
and upon the Reporting Person's personal financial position and
goals from time to time, the Reporting Person may, subject to
applicable statutory and other limitations, purchase additional
shares of Common Stock or dispose of Common Stock in the open
market, in privately negotiated transactions, or otherwise. The
Reporting Person retains the right to evaluate his position in the
future and change his intent with respect to any future actions.
Other than as described above, the Reporting Person has no plans or
proposals which relate to, or may result in, any of the matters
listed in Item 4 (a) through (I) of Schedule 13D (although he
reserves the right to develop such plans).
(b), (c), (d), (e), (f), (g), (h), (i) and (j): Not Applicable.
ITEM 5: INTEREST IN SECURITIES OF THE ISUER.
(a) After giving effect to the transaction described in Item 3, the
aggregate number of shares of Common Stock beneficially owned by
the Reporting Person is 1,456,787 or approximately 12.4% of the
issued and outstanding shares of Common Stock. The shares
beneficially owned by the Reporting Person include 1,434,000 shares
of Common Stock which may be acquired pursuant to options to
purchase Common Stock owned by the Reporting Person.
(b) The number of shares of Common Stock as to which the Reporting
Person has the sole power to vote, direct the vote, to dispose and
to direct the disposition is 1,456,787 shares, and the number of
shares of Common Stock as to which the Reporting Person shares the
power to vote, to direct the vote, to dispose and to direct the
disposition is 0.
(c) Within the last 60 days, the Reporting Person exercised and sold
50,000 stock options on or about February 7, 2000, 50,000 stock
options on or about February 11, 2000 and 16,000 stock options on
or about February 14, 2000.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERTAKINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITES OF THE ISSUER.
There are no contracts, arrangements, undertakings or relationships
(legal or otherwise) between the Reporting Person and any person
with respect to the securities of the Issuer.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Not applicable
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 25, 2000
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Date
/s/ Dr. E. Ted Prince
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Dr. E. Ted Prince
