SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
YES! ENTERTAINMENT CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
985834100
-------------------------
(CUSIP Number)
Copy to:
Applewood Associates, L.P. Stephen A. Cohen, Esq.
68 Wheatley Road Morrison Cohen Singer & Weinstein, LLP
Brookville, New York 11545 750 Lexington Avenue
Telephone (516) 626-3070 New York, New York 10022
Telephone (212) 735-8600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
January 4, 1996
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing 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 space ________.
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).
(Continued on following page(s))
Page 1 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Applewood Associates, 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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 525,488 shares 3.7%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 0 shares 0%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 525,488 shares 3.7%
With -----------------------------------------------------------------
10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
525,488 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* PF, WC, OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 21,137 shares 0.2%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,540,352 shares 10.7%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 21,137 shares 0.2%
With -----------------------------------------------------------------
10 Shared Dispositive Power
1,540,352 shares 10.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,561,489 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
10.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* PF, WC, OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 21,137 shares 0.2%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,308,820 shares 9.1%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 21,137 shares 0.2%
With -----------------------------------------------------------------
10 Shared Dispositive Power
1,308,820 shares 9.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,329,957 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.3%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* PF, WC, OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 21,137 shares 0.2%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,308,820 shares 9.1%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 21,137 shares 0.2%
With -----------------------------------------------------------------
10 Shared Dispositive Power
1,308,820 shares 9.1%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,329,957 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.3%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 252,669 shares 1.8%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
252,669 shares 1.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 115,766 shares 0.8%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 136,903 shares 1.0%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 115,766 shares 0.8%
With -----------------------------------------------------------------
10 Shared Dispositive Power
136,903 shares 1.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seneca Ventures
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* PF, WC, OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 115,766 shares 0.8%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 136,903 shares 1.0%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 115,766 shares 0.8%
With -----------------------------------------------------------------
10 Shared Dispositive Power
136,903 shares 1.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
- --------------------------------------------------------------------------------
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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 252,669 shares 1.8%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
252,669 shares 1.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seth Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 525,488 shares 3.7%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
525,488 shares 3.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
525,488 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jonathan Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 525,488 shares 3.7%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
525,488 shares 3.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
525,488 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Services Corp.
- --------------------------------------------------------------------------------
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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 252,669 shares 1.8%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
252,669 shares 1.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 19
<PAGE>
CUSIP
No. 985834100 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Marilyn and Barry Rubenstein Family Foundation
- --------------------------------------------------------------------------------
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 / /
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 252,669 shares 1.8%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
252,669 shares 1.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
252,669 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*/ /
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 19
<PAGE>
This Statement, dated November 15, 1996, constitutes Amendment No. 1 to the
Schedule 13D, dated June 8, 1995, regarding the reporting persons ownership of
certain securities of YES! Entertainment Corporation (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 1 to the Schedule is filed in accordance with Rule 13d-2
of the Securities Exchange Act of 1934, as amended, by the reporting persons. It
shall refer only to information which has materially changed since the filing of
the Schedule.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 14,013,670 shares of Common Stock outstanding as reported in the
Issuer's Form 10-Q for the quarter ended September 30, 1996) of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of November 15, 1996:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned1 Beneficially Owned1
- ---- ------------------- -------------------
Applewood Associates, L.P. 525,488 3.7%
Barry Rubenstein 1,561,489(2,3,4) 10.9%
Barry Fingerhut 1,329,957(2,3,5) 9.3%
- ----------
1 Includes shares of Common Stock issuable upon the exercise of the Private
Placement Warrants.
2 The reporting person disclaims beneficial ownership of these securities,
except to the extent of his equity interest therein.
3 Includes 350,314 shares of Common Stock and 180,807 shares of Common Stock
issuable upon the exercise of the Private Placement Warrants owned by 21st
Century, 47,161 shares of Common Stock owned by Foreign, 24,341 shares of
Common Stock issuable upon the exercise of the Private Placement Warrants
owned by Foreign, 119,191 shares of Common Stock owned by T-E, and 61,518
shares of Common Stock issuable upon the exercise of the Private Placement
Warrants owned by T-E. Includes 475,857 shares of Common Stock and 49,631
shares of Common Stock issuable upon the exercise of the Private Placement
Warrants owned by Applewood.
4 Includes 18,380 shares of Common Stock and 2,757 shares of Common Stock
issuable upon the exercise of the Private Placement Warrants owned by Barry
Rubenstein. Includes 105,809 shares and 105,809 shares of Common Stock and
9,957 shares and 9,957 shares of Common Stock issuable upon the exercise of
the Private Placement Warrants owned by the Fund and Seneca, respectively.
5 Includes 18,380 shares of Common Stock and 2,757 shares of Common Stock
issuable upon the exercise of the Private Placement Warrants owned by Barry
Fingerhut.
Page 14 of 19
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned1 Beneficially Owned1
- ---- ------------------- -------------------
Irwin Lieber 1,329,957(2,3,6) 9.3%
Woodland Partners 252,669(7) 1.8%
Woodland Venture Fund 252,669(7) 1.8%
Seneca Ventures 252,669(7) 1.8%
Woodland Services Corp. 252,669(7) 1.8%
The Marilyn and
Barry Rubenstein Family
Foundation 252,669(7) 1.8%
Seth Lieber 525,488(7) 3.7%
Jonathan Lieber 525,488(7) 3.7%
(b) Applewood has sole power to vote and to dispose of 525,488 shares
of Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 3.7% of the outstanding Common
Stock.
By virtue of being a shareholder, officer and director of InfoMedia, a
general partner of Applewood, of Seneca, and the Fund, Barry Rubenstein may be
deemed to have shared power to vote and to dispose of 1,540,352 shares of Common
Stock (which includes shares issuable upon the exercise of the Private Placement
Warrants), representing approximately 10.7% of the outstanding Common Stock.
Barry Rubenstein has sole power to vote and to dispose of 18,380 shares of
Common Stock and 2,757 shares of Common Stock issuable upon the exercise of the
Private Placement Warrants, representing approximately 0.2% of the outstanding
Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia
and a general partner of Applewood, Barry Fingerhut may be deemed to have shared
power to vote and to dispose of 1,308,820 shares of Common Stock (which includes
shares issuable upon the exercise of the Private Placement Warrants),
representing approximately 9.1% of the outstanding Common Stock. Barry Fingerhut
has sole power to vote and to dispose of 18,380 shares of Common Stock and 2,757
shares of Common Stock issuable upon the exercise of the Private Placement
Warrants, representing approximately 0.2% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia
and a general partner of Applewood, Irwin Lieber may be deemed to have shared
power to vote and to dispose of 1,308,820 shares of Common Stock (which includes
shares issuable upon the exercise of the Private Placement Warrants),
representing approximately 9.1% of the outstanding Common Stock. Irwin Lieber
has sole power to vote and to dispose of 18,380 shares of Common Stock and
- ----------
6 Includes 18,380 shares of Common Stock and 2,757 shares of Common Stock
issuable upon the exercise of the Private Placement Warrants owned by Irwin
Lieber.
7 The reporting person disclaims beneficial ownership of these securities,
except to the extent of his, hers or its equity interest therein.
Page 15 of 19
<PAGE>
2,757 shares of Common Stock issuable upon the exercise of the Private Placement
Warrants, representing approximately 0.2% of the outstanding Common Stock.
The Fund has sole power to vote and to dispose of 115,766 shares of Common
Stock (which includes shares issuable upon the exercise of the Private Placement
Warrants), representing approximately 0.8% of the outstanding Common Stock, and
may be deemed to have shared power to vote and to dispose of 136,903 shares of
Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 1% of the outstanding Common
Stock.
Seneca has sole power to vote and to dispose of 115,766 shares of Common
Stock (which includes shares issuable upon the exercise of the Private Placement
Warrants), representing approximately 0.8% of the outstanding Common Stock, and
may be deemed to have shared power to vote and to dispose of 136,903 shares of
Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 1% of the outstanding Common
Stock.
By virtue of being a general partner of Seneca and the Fund, Services may
be deemed to have shared power to vote and to dispose of 252,669 shares of
Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 1.8% of the outstanding Common
Stock.
By virtue of being the wife of Barry Rubenstein, Marilyn Rubenstein may be
deemed to have shared power to vote and to dispose of 252,669 shares of Common
Stock (which includes shares issuable upon the exercise of the Private Placement
Warrants), representing approximately 1.8% of the outstanding Common Stock.
The Foundation may be deemed to have shared power to vote and to dispose of
252,669 shares of Common Stock (which includes shares issuable upon the exercise
of the Private Placement Warrants).
By virtue of being an officer of Applewood Capital Corp., Seth Lieber may
be deemed to have shared power to vote and to dispose of 525,488 shares of
Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 3.7% of the outstanding Common
Stock.
By virtue of being an officer of Applewood Capital Corp., Jonathan Lieber
may be deemed to have shared power to vote and to dispose of 525,488 shares of
Common Stock (which includes shares issuable upon the exercise of the Private
Placement Warrants), representing approximately 3.7% of the outstanding Common
Stock.
Page 16 of 19
<PAGE>
(c) The following is a description of all transactions in the securities of
the Issuer by the persons identified in Item 2 of this Schedule 13D effected
from December 13, 1995 to November 15, 1996, inclusive:
Number of
Purchase Warrants (W) or Bridge Purchase
or Warrants (BW) or
Name of Shareholder Sale Date Purchased or (Sold) Sales Price
- ------------------- --------- ------------------- -----------
Applewood Associates, L.P. 1/9/96 (70,000 W) $ 2.3125
Seneca Ventures 1/4/96 (25,000 W) $ 2.34375
Woodland Venture Fund 1/4/96 (25,000 W) $ 2.34375
The Marilyn and
Barry Rubenstein 12/13/95 (37,500 BW) $ 2.44
Family Foundation
Woodland Partners 1/5/96 (112,500 BW) $ 2.15625
The reporting persons made their sales of securities in the
over-the-counter market. The Foundation and Woodland Partners obtained the
consent of GKN for their respective sales of Bridge Warrants.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) On January 5, 1996, Woodland Partners, the Fund, Seneca, Marilyn
Rubenstein, Services and the Foundation ceased to be the beneficial owners of
more than five percent (5%) of the Common Stock. As of April 1, 1996, Applewood
Associates, L.P., Seth Lieber and Jonathan Lieber ceased to be the beneficial
owners of more than five percent (5%) of the Common Stock, due to the increase
in the number of issued and outstanding shares of Common Stock of the Issuer.
Page 17 of 19
<PAGE>
Signature
---------
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Date: November 22, 1996
APPLEWOOD ASSOCIATES, L.P.
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, A General Partner
WOODLAND PARTNERS
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, A General Partner
SENECA VENTURES
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, A General Partner
WOODLAND VENTURE FUND
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, A General Partner
WOODLAND SERVICES CORP.
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, President
Page 18 of 19
<PAGE>
THE MARILYN AND BARRY RUBENSTEIN FAMILY
FOUNDATION
By: S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, Trustee
S/Barry Rubenstein
----------------------------------------------
Barry Rubenstein, Individually
S/Irwin Lieber
----------------------------------------------
Irwin Lieber, Individually
S/Barry Fingerhut
----------------------------------------------
Barry Fingerhut, Individually
S/Marilyn Rubenstein
----------------------------------------------
Marilyn Rubenstein, Individually
S/Seth Lieber
----------------------------------------------
Seth Lieber, Individually
S/Jonathan Lieber
----------------------------------------------
Jonathan Lieber, Individually
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 19 of 19
