UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)*
NAM Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
62872L 10 8
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(CUSIP Number)
December 31, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed.
|X| Rule13d-1(b)
| | Rule13d-1(c)
|_| Rule13d-1(d)
*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).
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CUSIP NO. 62872L 10 8 13G/A Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Joseph Stevens & Company, Inc. (successor to Joseph Stevens
& Company, L.P.)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5 SOLE VOTING POWER
NUMBER OF 253,600 shares of Common Stock. See Item 4.
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
N/A
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 253,600 shares of Common Stock. See item 4.
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER
N/A
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,600 shares of Common Stock. See Item 4.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.4% of shares of Common Stock. See Item 4.
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12 TYPE OF REPORTING PERSON*
BD
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<PAGE>
CUSIP NO. 62872L 10 8 13G/A Page 3 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph Sorbara
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF 253,600 shares of Common Stock. See Item 4.
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
N/A
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 253,600 shares of Common Stock. See item 4.
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER
N/A
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,600 shares of Common Stock. See Item 4.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.4% of shares of Common Stock. See Item 4.
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12 TYPE OF REPORTING PERSON*
IN
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<PAGE>
CUSIP NO. 62872L 10 8 13G/A Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Steven Markowitz
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF 253,600 shares of Common Stock. See Item 4.
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
N/A
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 253,600 shares of Common Stock. See item 4.
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER
N/A
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,600 shares of Common Stock. See Item 4.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.4% of shares of Common Stock. See Item 4.
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12 TYPE OF REPORTING PERSON*
IN
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<PAGE>
CUSIP NO. 62872L 10 8 13G/A Page 5 of 11 Pages
ITEM 1.
(a) Name of Issuer:
NAM Corporation
(b) Address of Issuer's Principal Executive Offices:
1010 Northern Boulevard
Suite 336
Great Neck, New York 11021
ITEM 2.
(a) Name of Persons Filing:
Joseph Stevens and Company, Inc. (successor to Joseph Stevens &
Company, L.P.), Mr. Joseph Sorbara and Mr. Steven Markowitz
(b) Address of Principal Business Office:
The principal business address for each of
Joseph Stevens & Company, Inc. and Messrs. Sorbara and
Markowitz is:
c/o Joseph Stevens & Company, Inc.
33 Maiden Lane
New York, New York 10038
(c) Citizenship:
Joseph Stevens & Company, Inc. is incorporated in the state of New
York. Mr. Sorbara and Mr. Markowitz are United States citizens.
(d) Title of Class of Securities:
Common Stock, $.001 par value per share (the "Common Stock").
(e) CUSIP Number:
62872L 10 8
ITEM 3. If this statement is filed pursuant to Rule 13d-1(b),
or 13d-2(b), check whether the person filing is a:
(a) |X| Broker or Dealer registered under Section 15 of the Act
(15 U.S.C. 78o);
(b) |_| Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c);
(c) |_| Insurance Company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c);
(d) |_| Investment Company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C.
80a-8);
(e) |_| An investment advisor in accordance with
$240.13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in
accordance with $240.13d-1(b)(1)(ii)(F);
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CUSIP NO. 62872L 10 8 13G/A Page 6 of 11 Pages
(g) |_| A parent holding company or control person in
accordance with $240.13d-1(b)(ii)(G);
(h) |_| A savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813);
(i) |_| A church plan that is excluded from the definition
of an investment company under section 3(c)(14) of
the Investment Company Act of 1940 (15 U.S.C.
80a-3);
(j) |_| Group, in accordance with $240.13d-1(1)(ii)(J).
ITEM 4. Ownership.
(a) Amount Beneficially Owned:
As of December 31, 1999, Joseph Stevens & Company, Inc. owned warrants
("JSC Warrants") to purchase 122,500 units, each unit ("Unit")
consisting of one share of Common Stock and one redeemable common
stock purchase warrant ("Redeemable Warrants"). Each Redeemable
Warrant entitled the holder to purchase an additional share of Common
Stock. The JSC Warrants were exercisable commencing on November 8,
1997. Additonally, Joseph Stevens & Company, Inc. held 2,500 shares of
Common Stock and 6,100 Redeemable Warrants in its market making
account on December 31, 1999. As of December 31, 1999, each Redeemable
Warrant was immediately exercisable to purchase an additional share of
Common Stock. Therefore, as of December 31, 1999, Joseph Stevens &
Company, Inc. beneficially owned 253,600 shares of Common Stock within
the meaning of Rule 13d-3 of the Act.
Mr. Joseph Sorbara was a controlling shareholder, director and officer
of Joseph Stevens & Company, Inc. as of December 31, 1999. Based upon
the foregoing, as of December 31, 1999, Mr. Sorbara beneficially owned
253,600 shares of Common Stock within the meaning of Rule 13d-3 of the
Act.
Mr. Steven Markowitz was a controlling shareholder, director and
officer of Joseph Stevens & Company, Inc. as of December 31, 1999.
Based upon the foregoing, as of December 31, 1999, Mr. Markowitz
beneficially owned 253,600 shares of Common Stock within the meaning
of Rule 13d-3 of the Act.
(b) Percent of Class:
As of December 31, 1999, Joseph Stevens & Company, Inc., was the
beneficial owner of an aggregate of 253,600 shares of Common Stock,
which constituted approximately 7.4% of the shares of Common Stock
outstanding (based upon 3,416,233 shares of Common Stock outstanding
as reported in the Issuer's Form 10-QSB for the quarterly period ended
September 30, 1999).
As of December 31, 1999, Mr. Joseph Sorbara was the beneficial owner
of an aggregate of 253,600 shares of Common Stock, which constituted
approximately 7.4% of the shares of Common Stock outstanding (based
upon 3,416,233 shares of Common Stock outstanding as reported in the
Issuer's Form 10-QSB for the quarterly period ended September 30,
1999).
As of December 31, 1999, Mr. Steven Markowitz was the beneficial owner
of an aggregate of 253,600 shares of Common Stock, which constituted
approximately 7.4% of the shares of Common Stock outstanding (based
upon 3,416,233 shares of Common Stock outstanding as reported in the
Issuer's Form 10-QSB for the quarterly period ended September 30,
1999).
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CUSIP NO. 62872L 10 8 13G/A Page 7 of 11 Pages
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:
As of December 31, 1999, Joseph Stevens & Company, Inc. had sole
power to vote or direct the vote of 253,600 shares of Common
Stock. See Item 4(a) above. As of December 31, 1999, Joseph
Sorbara had sole power to vote or direct the vote of 253,600
shares of Common Stock. See Item 4(a) above. As of December 31,
1999, Steven Markowitz had sole power to vote or direct the vote
of 253,600 shares of Common Stock. See Item 4(a) above.
(ii) Shared power to vote or direct the vote:
Not applicable.
(iii) Sole power to dispose or to direct the disposition of:
As of December 31, 1999, Joseph Stevens & Company, Inc. had sole
power to dispose or to direct the disposition of 253,600 shares
of Common Stock. See Item 4(a) above. As of December 31, 1999,
Joseph Sorbara had sole power to dispose or to direct the
disposition of 253,600 shares of Common Stock. See Item 4(a)
above. As of December 31, 1999, Steven Markowitz had sole power
to dispose or to direct the disposition of 253,600 shares of
Common Stock. See Item 4(a) above.
(iv) Shared power to dispose or to direct the disposition of:
Not applicable.
ITEM 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable.
ITEM 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company.
Not Applicable.
ITEM 8. Identification and Classification of Members of the Group.
Not Applicable.
ITEM 9. Notice of Dissolution of Group.
Not Applicable.
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CUSIP NO. 62872L 10 8 13G/A Page 8 of 11 Pages
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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CUSIP NO. 62872L 10 8 13G/A Page 9 of 11 Pages
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.
February 11, 2000
__________________________________
(Date)
JOSEPH STEVENS & COMPANY, INC.
/s/ Joseph Sorbara
__________________________________
Joseph Sorbara
Chief Executive Officer
February 11, 2000
___________________________________
(Date)
/s/ Joseph Sorbara
___________________________________
(Signature)
Joseph Sorbara
___________________________________
(Name)
February 11, 2000
___________________________________
(Date)
/s/ Steven Markowitz
____________________________________
(Signature)
Steven Markowitz
___________________________________
(Name)
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CUSIP NO. 62872L 10 8 13G/A Page 10 of 11 Pages
EXHIBIT INDEX
Sequentially Numbered
Page
on Which Exhibit
Exhibit No. Title: Begins
____________________ _____________________ _________________________
1. Joint Filing 11
Agreement pursuant to
Rule 13d-1(f)(1)
under the Securities
Exchange Act of 1934,
as amended, among
Joseph Stevens &
Company, Inc., Mr.
Joseph Sorbara and
Mr. Steven Markowitz
<PAGE>
CUSIP NO. 62872L 10 8 13G/A Page 11 of 11 Pages
EXHIBIT 1
Joint Filing Agreement pursuant to Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended.
Each of the undersigned hereby agrees to be included in the filing of
the Schedule 13G dated February 11, 2000 with respect to the issued
and outstanding Common Stock of Access Solutions International, Inc.
beneficially owned by each of the undersigned, respectively.
Dated: February 11, 2000
Joseph Stevens & Company, Inc.
/s/Joseph Sorbara
______________________________
Joseph Sorbara
Chief Executive Officer
/s/ Joseph Sorbara
_______________________________
Joseph Sorbara
/s/ Steven Markowitz
________________________________
Steven Markowitz
