UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)*
Netsmart Technologies, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
64114W 10 8
(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 filed 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 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).
51907
Page 1 of 9 Pages
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CUSIP No.64114W 10 8 13G
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Consolidated Technology Group Ltd. (13-1948169)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
5 SOLE VOTING POWER
3,681,990
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
6 SHARED VOTING POWER
-0-
7 SOLE DISPOSITIVE POWER
3,681,990
8 SHARED DISPOSITIVE POWER
-0-
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,681,990
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
54.16%
12 TYPE OF REPORTING PERSON
CO
======= ======
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CUSIP No. 64114W 10 8 13G
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SIS Capital Corp. (13-3299637)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
3,681,990
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
6 SHARED VOTING POWER
-0-
7 SOLE DISPOSITIVE POWER
3,681,990
8 SHARED DISPOSITIVE POWER
-0-
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,681,990
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
54.16%
12 TYPE OF REPORTING PERSON
CO
======= ======
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Page 3 of 9 Pages
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CUSIP No. 64114W 10 8 13G
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lewis S. Schiller (###-##-####)
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
5 SOLE VOTING POWER
266,667
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
6 SHARED VOTING POWER
3,681,990
7 SOLE DISPOSITIVE POWER
266,667
8 SHARED DISPOSITIVE POWER
3,681,990
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,948,657
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
|X|
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
58.08%
12 TYPE OF REPORTING PERSON*
IN
======= ======
Item 1. Security and Issuer
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This statement relates to Common Stock of Netsmart Technologies, Inc. (the
"Company"). The principal executive office of the Company is 146
Nassau Avenue, Islip,
New York 11751.
tem 2. Identity and Background
(a) (1) Consolidated Technology Group Ltd. ("Consolidated")
(2) SIS Capital Corp. ("SISC")
(3) Lewis S. Schiller
(b) (1) 160 Broadway, New York, New York 10038
(2) 160 Broadway, New York, New York 10038
(3) c/o Consolidated Technology Group, Ltd., 160 Broadway,
New York, New York , 10038
(c) (1) New York
(2) Delaware
(3) USA
(d) Common Stock, par value $.01 per share
(e) 64114W 10 8
Item 3. Statement Pursuant to 13d-1(b) or 13d-2(b)
N/A
Item 4. Ownership
(1), (2) Consolidated and SISC:
(a) Amount Beneficially Owned: 3,681,990(1)
(b) Percent of Class: 56.14%
(c) (i) Sole power to vote or to direct the vote: 3,681,990 shares(1)
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of: 3,681,990 shares(1)
(iv) Shared power to dispose or to direct the disposition of: None
(3) Lewis S. Schiller:
(a) Amount Beneficially Owned: 3,948,657
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(b) Percent of Class: 58.08%
(c) (i) Sole power to vote or to direct the vote: 266,667 shares(2)
(ii) Shared power to vote or to direct the vote: 3,681,990 shares(3)
(iii) Sole power to dispose or to direct the disposition of: 266,667 shares(2)
v) Shares power to dispose or to direct the disposition of: 3,681,990 shares(3)
- -----------------------------
(1) Includes 565,000 shares issuable upon exercise of presently exercisable
common stock purchase warrants owned by SISC.
(2) Includes 166,667 shares of common stock issuable upon exercise of
presently exercisable common stock purchase warrants owned by
Mr. Schiller.
(3) Represents shares of common stock which are either owned by SISC or are
issuable upon exercise of presently exercisable common stock purchase
warrants held by SISC.
Shares owned by Mr. Schiller exclude all shares of common stock owned by
DLB, Inc. ("DLB")
or issuable upon exercise of presently exercisable common stock purchase
warrants owned by DLB. DLB is owned by Mr. Schiller's wife.
Mr. Schiller disclaims beneficial ownership of
DLB or any securities owned by DLB.
Item 5. Ownership of Five Percent or Less of a Class
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Mr. Lewis Schiller is the chief executive officer of Consolidated and
SISC, a wholly-owned subsidiary of Consolidated, and, in such capacity has
voting and investment power with regard to all shares of common stock owned by
Consolidated and SISC.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security
Being Reported on By the Parent Holding Company
SISC is a wholly-owned subsidiary of Consolidated.
Item 9. Notice of Dissolution of Group
N/A
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Item 10. Certification
By signing below I 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.
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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.
Dated: June 30, 1997
CONSOLIDATED TECHNOLOGY GROUP LTD.
By: /s/ Lewis S. Schilller
Lewis S. Schiller
President
SIS CAPITAL CORP.
By: /s/ Lewis S. Schiller
Lewis S. Schiller
President
By: /s/ Lewis S. Schiller
Lewis S. Schiller, individually
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EXHIBIT
The Parties hereby agree that this statement filed on Schedule 13G is
filed on behalf of each Party individually, that each party on whose behalf the
Statement is filed is individually eligible to use Schedule 13G and that each
party is responsible for the accuracy and completeness of the information
concerning each party and the filing of amendments thereto.
Dated: June 24, 1997
CONSOLIDATED TECHNOLOGY GROUP LTD.
By: /s/ Lewis S. Schiller
Lewis S. Schiller
President
SIS CAPITAL CORP.
By: /s/ Lewis S. Schiller
Lewis S. Schiller
President
By: /s/ Lewis S. Schiller
Lewis S. Schiller, individually
51907
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