<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
------------------------------
BLC FINANCIAL SERVICES, INC.
(Name of Issuer)
<TABLE>
<S> <C>
COMMON STOCK, PAR VALUE $0.01 PER SHARE 055-490-10-6
(Title of class of securities) (CUSIP number)
</TABLE>
ROBERT F. TANNENHAUSER
BLC FINANCIAL SERVICES, INC.
645 MADISON AVENUE
NEW YORK, NEW YORK 10022
(212) 751-5626
(Name, address and telephone number of person authorized
to receive notices and communications)
WITH A COPY TO:
SIMEON GOLD, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153-0119
(212) 310-8000
NOVEMBER 1, 2000
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check
the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 15 Pages)
<PAGE> 2
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 2 of 15 Pages
----------------------------------------------------------- ---------------------------------------------------------
<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON FUTURONICS CORPORATION
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: New York
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 3
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 3 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
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) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER: 0
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 4
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 4 of 15 Pages
----------------------------------------------------------- ---------------------------------------------------------
<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
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) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 5
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 5 of 15 Pages
----------------------------------------------------------- ---------------------------------------------------------
<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON DAVID 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) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC Common
OWNED BY Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
PERSON WITH ------------------- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC Common
Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC Common
Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 6
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 6 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON EMILY 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) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC Common
OWNED BY Stock*
------------------- --------------------------------------------------------------------------------
EACH 0
REPORTING 9 SOLE DISPOSITIVE POWER:
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC Common
Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC Common
Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
*See Item 5 of this Schedule 13D.
<PAGE> 7
<TABLE>
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CUSIP No. 055-490-10-6 13D Page 7 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON PETER BLANCK
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e):
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
EACH ------------------- --------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER: 0
PERSON WITH ------------------- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 8
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 8 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON RICHARD BLANCK
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America
---------------------- --------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 9
<TABLE>
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CUSIP No. 055-490-10-6 13D Page 9 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON JENNIFER GOLDSTEIN
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
---------------------- --------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 10
<TABLE>
<CAPTION>
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CUSIP No. 055-490-10-6 13D Page 10 of 15 Pages
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<S> <C>
---------------------- --------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON DIANE ROSENFELD
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
---------------------- --------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [X]
---------------------- --------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- --------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
---------------------- --------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- --------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
---------------------- --------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------------------- --------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 8,484,415 shares of BLC
OWNED BY Common Stock*
------------------- --------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------- --------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 8,484,415 shares of BLC
Common Stock*
---------------------- --------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
---------------------- --------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 32.2%
---------------------- --------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- --------------------------------------------------------------------------------------------------------
</TABLE>
* See Item 5 of this Schedule 13D.
<PAGE> 11
ITEM 1. SECURITY AND ISSUER
This statement of beneficial ownership on Schedule 13D
("Schedule 13D") relates to common stock, par value $0.01 per share ("BLC
Common Stock") of BLC Financial Services, Inc., a Delaware corporation (the
"Company"). The address of the principal executive office of the Company is
645 Madison Avenue, New York, New York 10022.
The summary descriptions contained in this Schedule 13D of
certain agreements and documents are qualified in their entirety by reference
to the complete texts of such agreements and documents, filed as exhibits
hereto and incorporated herein by reference.
ITEM 2. IDENTITY AND BACKGROUND
The persons filing this Schedule 13D are Futuronics
Corporation, a New York Corporation ("Futuronics"), and the following
individuals: Robert Tannenhauser, Carol Tannenhauser, David Tannenhauser,
Emily Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane Rosenfeld, and
Richard Blanck (collectively, the "Reporting Persons"). An agreement among the
Reporting Persons with respect to the filing of this statement is attached
hereto as Exhibit 99.1. The Reporting Persons are filing this statement of
beneficial ownership on Schedule 13D because they entered into Voting and
Support Agreement (the "Voting Agreement") with Allied Capital Corporation, a
Maryland corporation, dated as of October 31, 2000, where each Reporting Person
agreed to vote its shares in favor of the adoption and approval of the Agreement
and Plan of Merger (as defined in Item 4 below). In addition, the Reporting
Persons may be deemed to be a member of a "group," within the meaning of Section
13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), with Allied Capital by virtue of being party to the Voting Agreement.
The name, residence or business address, citizenship and
present principal occupation or employment of Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Emily Tannenhauser, Peter Blanck, Jennifer
Goldstein, Diane Rosenfeld and Richard Blanck are set forth on Schedule A
hereto and such information is incorporated by reference herein. The name,
jurisdiction of organization, business address and principal business of
Futuronics Corporation are set forth on Schedule A hereto and such information
is incorporated by reference herein.
None of the Reporting Persons has, during the last five years,
(i) been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction as a result of which such
person 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 a violation with respect to such laws.
The information set forth in Item 4 and Item 5 of this Schedule
13D is hereby incorporated by reference herein.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Reporting Persons beneficially own the shares of BLC Common
Stock (the "Shares") reflected in this Schedule 13D (or deemed, solely for
purposes of Rule 13d-3, to be beneficially owned by them), directly or
indirectly, because these Reporting Persons entered into the Voting Agreement
where each agreed to vote such Reporting Person's Shares in favor of the
11
<PAGE> 12
proposed merger of BLC Financial Services, Inc. and Allied Capital
Corporation, as described more fully in Item 4 of this Schedule 13D.
This information set forth in Item 4 of this Schedule 13D is
hereby incorporated by reference herein.
ITEM 4. PURPOSE OF TRANSACTION
On November 1, 2000, the Reporting Persons entered into the
Voting Agreement in connection with the Agreement and Plan of Merger, dated as
of October 31, 2000 (the "Merger Agreement"), among Allied Capital
Corporation, Allied Capital B Sub Corporation, a Delaware corporation ("Merger
Sub"), and the Company, whereby Allied Capital Corporation agreed to acquire
all of the issued and outstanding shares of BLC Common Stock through the
merger of Merger Sub with and into BLC Financial Services, Inc. (the "Merger").
The full text of the Merger Agreement is attached hereto as Exhibit 99.2 and is
incorporated herein by reference. The consideration to be paid to holders of BLC
Common Stock in the Merger will consist of 0.180 shares of Allied Capital
Corporation common stock for each share of BLC Common Stock issued and
outstanding.
Pursuant to the Voting Agreement, each Reporting Person agreed
to vote, or cause to be voted all shares of BLC Common Stock beneficially
owned by such Reporting Person or as to which such Reporting Person had,
directly or indirectly, the right to vote or direct the voting, in favor of
the proposed Merger and adoption of the Merger Agreement.
In addition, each Reporting Person agreed not to (i) offer for
sale sell, transfer, tender, pledge, encumber, assign or otherwise dispose of
BLC Common Stock, (ii) grant any proxies or powers of attorney with respect to
BLC Common Stock, (iii) deposit any BLC Common Stock into a voting trust, (iv)
enter into a voting agreement with respect to BLC Common Stock, or (v) take
any action that would make any representation or warranty of such Reporting
Person in the Voting Agreement untrue or incorrect, or have the effect of
preventing or disabling such Reporting Person from performing such Reporting
Person's obligations under the Voting Agreement.
The foregoing description of the Voting Agreement is a summary
thereof and does not purport to be complete. The full text of the Voting
Agreement is attached hereto as Exhibit 99.3 and is incorporated herein by
reference.
The information set forth in the Registration Statement on Form
N-14 (Registration No. 333-49506) filed by Allied Capital Corporation with the
Securities and Exchange Commission (as amended, the "Form N-14 Registration
Statement") includes a description of the Merger Agreement, the Merger and the
Voting Agreement. The information set forth in the Form N-14 Registration
Statement is hereby incorporated by reference herein.
Each of the Reporting Persons holds the shares of BLC Common
Stock in the ordinary course of business and, except as otherwise set forth
herein, not with the purpose or effect of changing the control of the Company.
Except as set forth above and in the proxy statement/prospectus
contained in the Form N-14 Registration Statement, the Reporting Persons have
no present plans or intentions which would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of Schedule
13D.
12
<PAGE> 13
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the close of business on December 7, 2000, the Reporting
Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3,
to beneficially own), directly or indirectly, an aggregate of 8,484,415
shares of BLC Common Stock, representing approximately 32.2% of BLC Common Stock
outstanding on December 7, 2000.
(b) Robert Tannenhauser has shared power to vote, direct the voting
of, dispose of and direct the disposition of 8,484,415 shares of BLC Common
Stock.
Mr. Tannenhauser disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Carol Tannenhauser, David
Tannenhauser, Emily Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Mr. Tannenhauser by
virtue of being a party to the Voting Agreement, dated as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by Mr.
Tannenhauser is equal to 7,242,036. The filing of this Schedule 13D shall not be
construed as an admission by Mr. Tannenhauser that he is, for purposes of
Section 13(d) of the Exchange Act, the beneficial owner of shares of the BLC
Common Stock held by other such Reporting Persons.
Carol Tannenhauser has shared power to vote, direct the voting of,
dispose of and direct the disposition of 8,484,415 hares of BLC Common Stock.
Mrs. Tannenhauser disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, Emily Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Mrs. Tannenhauser
by virtue of being a party to the Voting Agreement, dated as of October 31,
2000. The aggregate number of shares of BLC Common Stock being disclaimed by
Mrs. Tannenhauser is equal to 6,927,676. The filing of this Schedule 13D shall
not be construed as an admission by Mrs. Tannenhauser that she is, for purposes
of Section 13(d) of the Exchange Act, the beneficial owner of shares of the BLC
Common Stock held by other such Reporting Persons.
David Tannenhauser has shared power to vote, direct the voting of,
dispose of and direct the disposition of 8,484,415 shares of BLC Common Stock.
David Tannenhauser disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by David Tannenhauser
by David of being a party to the Voting Agreement, dated as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by David
Tannenhauser is equal to 8,191,616. The filing of this Schedule 13D shall not be
construed as an admission by David Tannenhauser that he is, for purposes of
Section 13(d) of the Exchange Act, the beneficial owner of shares of the BLC
Common Stock held by such other Reporting Persons.
Emily Tannenhauser has shared power to vote, direct the voting of,
dispose of and direct the disposition of 8,484,415 shares of BLC Common Stock.
Miss Tannenhauser disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Miss Tannenhauser
by virtue of being a party to the Voting Agreement, dated as of October 31,
2000. The aggregate number of shares of BLC Common Stock being disclaimed by
Miss Tannenhauser is equal to 8,191,618. The filing of this Schedule 13D shall
not be construed as an admission by Miss Tannenhauser that she is, for purposes
of Section 13(d) of the Exchange Act, the beneficial owner of shares of the BLC
Common Stock held by such other Reporting Persons.
Peter Blanck has shared power to vote, direct the voting of, dispose of
and direct the disposition of 8,484,415 shares of BLC Common Stock.
Mr. Blanck disclaims beneficial ownership of shares of BLC Common Stock
beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Emily Tannenhauser, Jennifer Goldstein, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Mr. Blanck by
virtue of being a party to the Voting Agreement, dated as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by
Peter Blanck is equal to 7,825,079. The filing of this Schedule 13D shall not be
construed as an admission by Mr. Blanck that he is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of the BLC Common
Stock held by such other Reporting Persons.
Richard Blanck has shared power to vote, direct the voting of, dispose of
and direct the disposition of 8,484,415 shares of BLC Common Stock.
Richard Blanck disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Emily Tannenhauser, Peter Blanck, Jennifer
Goldstein and Diane Rosenfeld, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Richard Blanck by
virtue of being a party to the Voting Agreement, date as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by Richard
Blanck is equal to 8,045,078. The filing of this Schedule 13D shall not be
construed as an admission by Richard Blanck that he is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of the BLC Common
Stock held by such other Reporting Persons.
13
<PAGE> 14
Jennifer Goldstein has shared power to vote, direct the voting of,
dispose of and direct the disposition of 8,484,415 shares of BLC Common Stock.
Ms. Goldstein disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Emily Tannenhauser, Peter Blanck, Diane
Rosenfeld and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Ms. Goldstein by
virtue of being a party to the Voting Agreement, dated as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by Ms.
Goldstein is equal to 8,177,140. The filing of this Schedule 13D shall not be
construed as an admission by Ms. Goldstein that she is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of the BLC Common
Stock held by such other Reporting Persons.
Diane Rosenfeld has shared power to vote, direct the voting of, dispose
of and direct the disposition of 8,484,415 shares of BLC Common Stock.
Ms. Rosenfeld disclaims beneficial ownership of shares of BLC Common
Stock beneficially owned by Futuronics Corporation, Robert Tannenhauser, Carol
Tannenhauser, David Tannenhauser, Emily Tannenhauser, Peter Blanck, Jennifer
Goldstein and Richard Blanck, which shares may be deemed to be beneficially
owned, for purposes of Section 13(d) of the Exchange Act, by Ms. Rosenfeld by
virtue of being a party to the Voting Agreement, dated as of October 31, 2000.
The aggregate number of shares of BLC Common Stock being disclaimed by Ms.
Rosenfeld is equal to 7,385,886. The filing of this Schedule 13D shall not be
construed as an admission by Ms. Rosenfeld that she is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of the BLC Common
Stock held by such other Reporting Persons.
Except as disclosed in this Item 5(b) of this Schedule 13D, none of the
Reporting Persons, nor to the best knowledge of the Reporting Persons, any of
the directors or executive officers of the Reporting Persons has the power to
vote, direct the voting of, dispose of or direct the disposition of any shares
of BLC Common Stock or any other person referenced in this Schedule 13D or any
amendment thereto.
The filing of this Report shall not be construed as an admission by any
Reporting Person that it is, for purposes of Section 13(d) of the Exchange
Act, the beneficial owner of any shares of BLC Common Stock beneficially owned
by the other Reporting Persons.
(c) The following table shows all transactions by Reporting Persons in BLC
Common Stock during the 60 days prior to the filing of this Schedule 13D.
<TABLE>
<CAPTION>
Nature of
Transaction
Date of Number of Price Per (purchase, sale,
Name of Beneficial Owner Transaction Securities Share exercise)
------------------------ ----------- ---------- ----- ---------
<S> <C> <C> <C> <C>
Robert F. Tannenhauser 10/15/00 10,000(1) $3.31 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
10/16/00 25,000(1) $2.00 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
10/16/00 35,000(1) $2.20 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
10/16/00 150,000(1) $2.90 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
10/16/00 40,000 (1) $1.99 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
11/22/00 101,334 $2.00 Debenture Conversion
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 200,000 $0.82 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
Peter Blanck 11/22/00 133,332 $2.00 Debenture Conversion
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 10,000 $3.31 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 25,000 $2.00 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 35,000 $2.20 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
Richard Blanck 11/22/00 58,332 $2.00 Debenture Conversion
-------------------------- ------------- -------------- ----------- ----------------------
Diane Rosenfeld 10/16/00 202,000 $0.60 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
11/7/00 11,545 $1.85 Warrant Exercise
-------------------------- ------------- -------------- ----------- ----------------------
</TABLE>
-----------------------
(1) Mr. Tannenhauser received full recourse loans from BLC in the aggregate
of $674,700 to exercise these options.
14
<PAGE> 15
<TABLE>
<CAPTION>
Nature of
Transaction
Date of Number of Price Per (purchase, sale,
Name of Beneficial Owner Transaction Securities Share exercise)
------------------------ ----------- ---------- ----- ---------
<S> <C> <C> <C> <C>
-------------------------- ------------- -------------- ----------- ----------------------
Jennifer M. Goldstein 12/5/00 30,000 $2.90 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 20,000 $1.99 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
12/5/00 40,000 $0.82 Option Exercise
-------------------------- ------------- -------------- ----------- ----------------------
</TABLE>
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
The information set forth in Items 4 and 5 of this Schedule 13D
is hereby incorporated by reference herein.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Joint Filing Agreement by and among, Futuronics
Corporation, Robert Tannenhauser, Carol Tannenhauser, David Tannenhauser,
Emily Tannenhauser, Peter Blanck, Jennifer Goldstein, Diane Rosenfeld and
Richard Blanck.
2. Agreement and Plan of Merger, dated as of October 31,
2000, among Allied Capital Corporation, Allied Capital B Sub Corporation and
BLC Financial Services Inc.
3. Voting and Support Agreement, dated as of October 31,
2000, by and among Allied Capital Corporation, Futuronics Corporation, Robert
Tannenhauser, Carol Tannenhauser, David Tannenhauser, Emily Tannenhauser,
Peter Blanck, Jennifer Goldstein, Diane Rosenfeld and Richard Blanck.
15
<PAGE> 16
SIGNATURES
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 11, 2000
FUTURONICS CORPORATION
By: /s/ PETER BLANCK
----------------------------------------
Name: Peter Blanck
Title: President
/s/ ROBERT F. TANNENHAUSER
-------------------------------------------
ROBERT F. TANNENHAUSER
/s/ CAROL TANNENHAUSER
-------------------------------------------
CAROL TANNENHAUSER
/s/ EMILY TANNENHAUSER
-------------------------------------------
EMILY TANNENHAUSER
/s/ DAVID TANNENHAUSER
-------------------------------------------
DAVID TANNENHAUSER
/s/ PETER BLANCK
-------------------------------------------
PETER BLANCK
/s/ RICHARD BLANCK
-------------------------------------------
RICHARD BLANCK
/s/ JENNIFER GOLDSTEIN
-------------------------------------------
JENNIFER GOLDSTEIN
/s/ DIANE ROSENFELD
-------------------------------------------
DIANE ROSENFELD
16
<PAGE> 17
SCHEDULE A
List of Reporting Persons
<TABLE>
<S> <C>
1. Reporting Person: Futuronics Corporation
State of Organization: New York
Principal Business
Address: Futuronics Corporation
3652 Forest Gate Drive
Iowa City, Iowa 52240
Name: Carol Tannenhauser
Title: Director and Treasurer
Resident or Business Address: 210 East 68th Street
New York, New York 10022
Name: Peter Blanck
Title: Director and President
Resident or Business Address: 3652 Forest Gate Drive
Iowa City, Iowa 52240
Name: Richard Blanck
Title: Director
Resident or Business Address: 9 Hickory Road
Mahasset Hills, New York 11040
2. Reporting Person: Robert F. Tannenhauser
Citizenship: United States of America
Principal Business
Address: BLC Financial Services, Inc.
645 Madison Avenue
New York, New York 10022
Present Principal Occupation
or Employment: Chairman of the Board and President
BLC Financial Services, Inc.
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
</TABLE>
<PAGE> 18
<TABLE>
<S> <C>
3. Reporting Person: Carol Tannenhauser
Citizenship: United States of America
Principal Business
Address: 210 East 68th Street
New York, New York 10022
Present Principal Occupation
or Employment: Freelance Writer
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
4. Reporting Person: David Tannenhauser
Citizenship: United States of America
Principal Business
Address: 210 East 68th Street
New York, New York 10022
Present Principal Occupation
or Employment: Musician
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
5. Name: Emily Tannenhauser
Citizenship: United States of America
Principal Business
Address: 210 East 68th Street
New York, New York 10022
Present Principal Occupation
or Employment: Student
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
</TABLE>
<PAGE> 19
<TABLE>
<S> <C>
6. Name: Peter Blank
Citizenship: United States of America
Principal Business
Address: 3652 Forest Gate Drive
Iowa City, Iowa 52240
Present Principal Occupation
or Employment: Professor of Law at University of
Iowa College of Law
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
7. Name: Jennifer Goldstein
Citizenship: United States of America
Principal Business
Address: BLC Financial Services, Inc.
645 Madison Avenue
New York, New York 10022
Present Principal Occupation
or Employment: Chief Financial Officer of BLC
Financial Services, Inc.
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
8. Name: Diane Rosenfeld
Citizenship: United States of America
Principal Business
Address: RR#1, Box 427 D
County Road #86
Amenia, New York 12501
</TABLE>
<PAGE> 20
<TABLE>
<S> <C>
Present Principal Occupation
or Employment:
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
9. Name: Richard Blanck
Citizenship: United States of America
Principal Business
Address: 9 Hickory Road
Manhasset Hills, New York 11040
Present Principal Occupation
or Employment: Physician in private practice
Name, Principal Business
and Address of any
Corporation or Other
Organization in which
Such Employment is
Conducted: N/A
</TABLE>
<PAGE> 21
EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
------ -----------
<S> <C>
99.1 Joint Filing Agreement
99.2 Agreement and Plan of Merger
99.3 Voting and Support Agreement
</TABLE>
