SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
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WorldWide Web NetworX Corporation
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(Name of Issuer)
Common Stock, $.001 par value
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(Title of Class of Securities)
981604101
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(CUSIP Number)
David Selengut, Ellenoff Grossman Schole & Cyrulli, LLP
370 Lexington Avenue, New York, NY 10017 (212) 370-1300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 27, 2000
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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(e) (f) or (g), check the following box [X].
*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 1 of 8 pages
<PAGE>
CUSIP No. 981604101 13D Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morton Davis
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
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3 SEC USE ONLY
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4 Source of Funds
See Item #3 herein.
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5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 7,014,967
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 7,014,967
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,014,967
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
X
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 981604101 13D Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Investment Banking Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
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3 SEC USE ONLY
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4 Source of Funds
See Item #3 herein.
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5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 7,014,967
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 7,014,967
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,014,967
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
X
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 981604101 13D Page 4 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Blair Ventures-Fund I, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 Source of Funds
See Item #3 herein.
-------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 4,800,000
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 4,800,000
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,800,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
X
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 5 of 8 Pages
Item 1. Security and Issuer:
WorldWide Web NetworX Corporation
Shares of Common Stock, $.001 par value
Address of Issuer:
3000 Atrium Way
Mt. Laurel, New Jersey 08504
Item 2. (a) Name of Persons Filing:
J. Morton Davis, D.H. Blair Investment Banking Corp. ("Blair
Investment"), and Blair Ventures-Fund I, Inc. ("Blair Ventures").
See attached Exhibit A which is a copy of their agreement in
writing to file this statement on behalf of each of them.
(b) Address of Principal Business Office:
Mr. Davis', Blair Investment's, and Blair Venture's, address is
44 Wall Street, New York, New York 10005.
(c) Present Principal Occupation
Mr. Davis is a principal of Blair Investment, a registered
broker-dealer.
(d) Conviction of Criminal Proceeding
None
(e) Injuction against violation of State or Federal Securities Laws.
None
(f) Citizenship
Mr. Davis is a United States citizen. Blair Investment and
Blair Ventures are incorporated in the States of Delaware.
Item 3. Source of Funds
The statement relates to a loan by Blair Ventures to the
Issuer in the amount of $3,600,000. The loan is convertible into
shares of Common Stock of the Issuer at the option of Blair
Ventures at a rate of $.75 per share. Blair Ventures is a wholly
owned subsidiary of Blair Investment. The funds used for the loan
to the Issuer are the funds of Blair Ventures.
Item 4. Purpose of Transaction
As a condition to the loan, William Weld, Warren Rothstein,
Allan Cohen and Michael Norton each resigned as a member of
Issuer's Board of Directors and Carol Knauff and Ronald Tobia
were appointed directors.
<PAGE>
Page 6 of 8 pages
Item 5. Ownership
(a) As of August 27, 2000, Mr. Davis may be deemed to beneficially
own 7,014,967 shares or 15.1% of the Issuer's shares issued and
outstanding as follows: (i) 2,000,000 shares owned by Blair
Investment, (ii) a Warrant to purchase 214,967 shares of the
Issuer's Common Stock (1), and (iii) 4,800,000 shares issuable
upon conversion of a Convertible Promissory Note (the "Note") in
the amount of $3,600,000 at the rate of $.75 per share (2) (3)
(4).
As of August 27, 2000. Blair Investment may be deemed to
beneficially own 7,014,967 shares or 15.1% of the Issuer's shares
as indicated in (i), (ii), and (iii) above.
As of August 27, 2000, Blair Ventures may be deemed to
beneficially own 4,800,000 shares or 10.4% of Issuer's shares as
indicated in (iii) above.
(b) 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 and Blair Ventures.
(c) None
(d) None
(e) None
Item 6. Contracts, Arrangements, Understandings, or relationships with respect
to Securities of Issuer.
None.
Item 7. Materials filed as Exhibits
Exhibit A - Agreement to file a joint Schedule 13D
_______________________________________________________________________
(1) The Warrant is exercisable until September 22, 2002 to purchase the shares
at an exercised price of $1.80 per share.
(2) Not included herein is a number of shares which the Issuer is required to
issue to Blair Investment for not having a registration statement covering
the shares owned by Blair Investment declared effective by October 4, 1999.
The amount is equal to the sum of (i) 200,000 shares of Common Stock for
each month, pro-rated for any part thereof, that the effectiveness of the
registration statement has been delayed plus (ii) such number of shares as
equals (A) $300,000 multiplied by (B) the quotient of (X) the closing bid
price on October 4, 1999, less the closing bid price of the Common Stock on
the date the registration statement is declared effective by the SEC,
divided by (y) $1.50.
(3) Accrued but unpaid, Interest on the Note, at the rate of 10% per annum, is
also convertible at the option of Blair Ventures into shares of the issuer
at $.75 per share. The Issuer has the option of paying interest in shares
of Issuer at the lower of (i) $.75 per share or (ii) the current market
value of such shares.
(4) Does not include an aggregate of 1,796,553 shares of Common Stock owned
directly by the independent children and grandchildren of Mr. Davis and by
partnerships whose limited partners are children and grandchildren of Mr.
Davis. Mr. Davis disclaims beneficial ownership of these shares.
<PAGE>
Page 7 of 8 pages
SIGNATURES
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.
/s/ J. Morton Davis
Date: August 29, 2000 _____________________________
New York, New York J. Morton Davis
D.H. BLAIR INVESTMENT BANKING CORP.
/s/ David Nachamie
Date: August 29, 2000 by_____________________________
New York, New York David Nachamie
Treasurer
BLAIR VENTURES-FUND I, INC.
/s/ J. Morton Davis
Date: August 29, 2000 by_____________________________
New York, New York J. Morton Davis
Chairman
