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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
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(Amendment No. 9 )
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BLC Financial Services, Inc.
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(Name of Issuer)
Common Stock 055 490 10 6
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(Title of class of securities) (CUSIP number)
Robert F. Tannenhauser
Business Loan Center
919 Third Avenue
New York, NY 10022
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(Name, address and telephone number of person authorized to receive
notices and communications)
Not Applicable
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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(b)(3) or (4), check the
following box [_].
Note: When filing this statement in paper form, six copies of this
statement, including exhibits, should be filed with the Commission. See
Rule 13d-1(a) for other parties to whom copies are to be sent.
(Continued on following page(s))
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CUSIP No. 055 490 10 6 13D Page 2 of 8
1 NAME OF REPORTING PERSON: Carol Tannenhauser
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: Not applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF United States of America
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 5,597,861
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 5,597,861
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 5,597,861
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 31.3%
14 TYPE OF REPORTING PERSON: IN
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CUSIP No. 055 490 10 6 13D Page 3 of 8
1 NAME OF REPORTING PERSON: Robert F. Tannenhauser
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: Not applicable.
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [_]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF United States of America
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
BENEFICIALLY 8 SHARED VOTING POWER: 5,597,861
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE 5,597,861
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 5,597,861
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [ ]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 31.3%
14 TYPE OF REPORTING PERSON: IN
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ITEM 1. SECURITY AND ISSUER.
This Statement constitutes Amendment No. 9 to the
Statement on Schedule 13D filed with the Securities and
Exchange Commission ("Schedule 13D") with respect to the
common stock, $.01 par value (the "Common Stock"), of BLC
Financial Services, Inc., a Delaware corporation (the
"Company"). This Schedule 13D is filed on behalf of Carol
Tannenhauser and Robert F. Tannenhauser (the "Reporting
Persons").
Other than as set forth herein, there has been no
material change in Items 1, 2, 3, 4, 5, 6, and 7. The
primary purpose of this filing is to add Robert F.
Tannenhauser, the spouse of Carol Tannenhauser, as a joint
filer to the Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND.
Names of Reporting Persons:
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Carol Tannenhauser
Robert F. Tannenhauser
Address of Reporting Persons:
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c/o Business Loan Center
919 Third Avenue
New York, New York 10022
Employment Information of Reporting Persons:
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Carol Tannenhauser is a self-employed writer. Robert F.
Tannenhauser is the Chief Executive Officer of the Company.
Neither of the Reporting Persons has been convicted in
a criminal proceeding (excluding traffic violations or
similar misdemeanors) during the past five years.
Neither of the Reporting Persons has been a party to a
civil proceeding of a judicial or administrative body of
competent jurisdictions and as a result of such proceeding
was or is subject to 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 violations with respect to such laws during the
past five years.
Citizenship of Reporting Persons:
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United States of America
Page 4 of 8 Pages
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ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION.
Not applicable.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Each of the Reporting Persons shares voting and
dispositive power and, accordingly, beneficially owns (i)
171,468 shares directly owned by Robert F. Tannenhauser,
(ii) 1,325,409 shares directly owned by Carol Tannenhauser,
the spouse of Robert F. Tannenhauser, (iii) 107,168 shares
deemed owned by Carol Tannenhauser as custodian for their
two children, (iv) 2,609,964 owned by Futuronics Corporation
of which Carol Tannenhauser is an officer and director, (v)
176,830 shares owned by Trust created under the Will of
Albert Blanck under which Carol Tannenhauser is Trustee and
Beneficiary, (vi) 481,857 shares underlying options owned by
Carol Tannenhauser, (vii) 500,000 shares that may be
acquired upon the exercise of Warrants by Futuronics
Corporation of which Carol Tannenhauser is an officer and
director, (viii) 112,583 shares owned by David Tannenhauser,
the son of Robert F. Tannenhauser and (ix) 112,582 shares
held in a custodial account of which Robert F. Tannenhauser
is the custodian and Emily Tannenhauser, the daughter of
Robert F. Tannenhauser, is the beneficiary.
(b) Each of the Reporting Persons has shared voting
and dispositive power with respect to 5,597,861 shares of
Common Stock. Neither of the Reporting Persons has sole
voting and dispositive power with respect to any shares of
Common Stock.
(c) On January 15, 1997, Carol Tannenhauser gifted
options to purchase 25,000 shares of Common Stock to Sidney
Yoskowitz.
On February 17, 1997, each of the Reporting Persons
received a gift of 12,455 shares of Common Stock from Mae
Tannenhauser, the mother of Robert F. Tannenhauser. On
February 17, 1997, each of David Tannenhauser, the son of
Carol and Robert F. Tannenhauser and Robert F.
Page 5 of 8 Pages
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Tannenhauser, as custodian under the Uniform Gift for Minors
Act for his daughter Emily Tannenhauser, received a gift of
14,022 shares of Common Stock from Mae Tannenhauser.
On February 18, 1997, Robert F. Tannenhauser exercised
options to purchase 140,000 shares of Common Stock for
$63,000, David Tannenhauser exercised Warrants to purchase
78,561 shares of Common Stock for $28,281.78 and Robert F.
Tannenhauser, as custodian under the Uniform Gift for Minors
Act for his daughter Emily Tannenhauser, exercised options
to purchase 78,560 shares of Common Stock for $28,281.78.
(d) Others with right to receive or power to direct
the receipt of dividends from, or proceeds from, the sale of
securities: With respect to the share of Common Stock held
by the Trust created under the Will of Albert Blanck under
which Carol Tannenhauser is Trustee and Beneficiary, the Co-
Trustees of such Trust.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
A copy of a written agreement relating to the filing of
a joint statement as required by Rule 13d-1(f) under the
Securities Exchange Act of 1934 is attached hereto as
Exhibit 1.
Page 6 of 8 Pages
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SIGNATURE
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After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Date: March 7, 1997
/s/ Carol Tannenhauser
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Carol Tannenhauser
/s/ Robert F. Tannenhauser
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Robert F. Tannenhauser
Page 7 of 8 Pages
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EXHIBIT INDEX
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Exhibit Page No.
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1. Agreement relating to the filing of a joint
statement as required by Rule 14d-1(f) under
the Securities Exchange Act of 1934.
Page 8 of 8 Pages
NYFS12...:\99\26799\0004\1645\SCH3057Z.130
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EXHIBIT 1
AGREEMENT
The undersigned agree that the Statement on Schedule 13D
dated March 17, 1997 relating to the shares of Common Stock, $0.01 par
value per share, of BLC Financial, Inc., as amended by this Amendment
No.9 to which this Agreement is attached as Exhibit A, shall be deemed
filed on behalf of each of the undersigned
/s/ Carol Tannenhauser
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Carol Tannenhauser
/s/ Robert F. Tannenhauser
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Robert F. Tannenhauser
NYFS12...:\99\26799\0004\1645\SCH3057Z.130
