<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
XECHEM INTERNATIONAL, INC.
(Name of Issuer)
Common Stock, $.0001 par value
(Title of Class of Securities)
983895-10-3
(CUSIP Number)
Michael G. Jesselson
1301 Avenue of the Americas
New York, New York 10019
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 1, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement of Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d- I(b)(3) or (4), check the following
box [ ]
Check the following box if a fee is being paid with the statement. [ ]
(A fee is not required only if the reporting 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)
NOTE: Six copies of this statement, including all 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 pages)
(Page 1 of 13 Pages)
*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
disclosures provided in a prior cover page.
The information required on 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> 2
Schedule 13D
CUSIP NO. 983895-10-3 13D PAGE 2 OF 13 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael G. Jesselson Trust
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
6,250,000
-----------------------------------------------------
8. SHARED VOTING POWER
-0-
-----------------------------------------------------
9. SOLE DISPOSITIVE POWER
6,250,000
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,250,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 3
Schedule 13D
CUSIP NO. 983895-10-3 13D PAGE 3 OF 13 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Benjamin J. Jesselson Trust
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
6,250,000
-----------------------------------------------------
8. SHARED VOTING POWER
-0-
-----------------------------------------------------
9. SOLE DISPOSITIVE POWER
6,250,000
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,250,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 4
Schedule 13D
CUSIP NO. 983895-10-3 13D PAGE 4 OF 13 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael G. Jesselson
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
30,000
-----------------------------------------------------
8. SHARED VOTING POWER
15,000,000
-----------------------------------------------------
9. SOLE DISPOSITIVE POWER
30,000
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
15,000,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,030,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [x]
Does not include 20,000 shares of Common Stock owned by Mr.
Jesselson's spouse as to which he disclaims beneficial ownership
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.4%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 5
Schedule 13D
CUSIP NO. 983895-10-3 13D PAGE 5 OF 13 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jesselson Grandchildren Trust
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
2,500,000
-----------------------------------------------------
8. SHARED VOTING POWER
-0-
-----------------------------------------------------
9. SOLE DISPOSITIVE POWER
2,500,000
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,500,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE> 6
PAGE 6 OF 13 PAGES
Item 1. Security and Issuer
This statement relates to Common Stock, $.0001 par value per share (the
"Common Stock"), of Xechem International, Inc., a Delaware corporation (the
"Company"). The address of the principal executive office of the Company is 100
Jersey Avenue, Building B, New Brunswick, New Jersey 08901.
Item 2. Identity and Background
(a) This statement constitutes an amendment to a Schedule 13D (the
"Schedule 13D") that was previously filed. Unless amended herein, all
information disclosed in the Schedule 13D is hereby confirmed. Terms not defined
herein, shall have the meaning ascribed to them in the Schedule 13D. The term
"Trusts" shall include the Jesselson Grandchildren Trust (the "Grandchildren
Trust").
Item 5. Interest in Securities of the Issuer.
(a) On May 1, 1997, the Michael G. Jesselson Trust, the Benjamin J.
Jesselson Trust and the Grandchildren Trust consummated the purchase of
1,250,000, 1,250,000 and 2,500,000 shares of Common Stock, respectively at $0.05
per share. The right to purchase the Common Stock had been assigned to the
Trusts by Mr. David Blech who, on November 18, 1996 entered into a Stock
Purchase Agreement with the Company that provided for the purchase of an
aggregate of 110,000,000 shares. Based upon information supplied by counsel to
the Company, as of May 6, 1997, the Company had outstanding 91,507,839 shares of
Common Stock. As a result of this transaction, the Michael G. Jesselson Trust
and the Benjamin J. Jesselson Trust each owns 6,250,000 shares of Common Stock
or 6.8% of the total outstanding. The Grandchildren Trust owns 2,500,000 shares
of Common Stock or 2.7% of the total outstanding. Together, the Reporting
Persons are the beneficial owners of 15,030,000 shares of Common Stock, or
16.4%.
(c) Other than as reported herein and in the Schedule 13D, there have
been no transactions in the Company's securities by the Reporting Persons during
the past 60 days.
<PAGE> 7
PAGE 7 OF 13 PAGES
Item 7. Material to be Filed as Exhibits
1. Agreement to Jointly File Schedule 13D
2. Stock Purchase Agreement dated November 18, 1996 between
the Company and David Blech*
- --------------
* Incorporated by reference to the Schedule 13D filed by David Blech on
or about December 2, 1996, as subsequently amended.
<PAGE> 8
PAGE 8 OF 13 PAGES
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: May 7, 1997
/s/ Michael G. Jesselson
- ---------------------------------------------
Michael G. Jesselson
MICHAEL G. JESSELSON TRUST
By: /s/ Michael G. Jesselson
------------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/ Lucy Lang
------------------------------------------
Lucy Lang,
Trustee
By: /s/ Claire Strauss
------------------------------------------
Claire Strauss,
Trustee
By: /s/ Michael J. Jesselson
------------------------------------------
Michael J. Jesselson,
Trustee
By: /s/ Benjamin G. Jesselson
------------------------------------------
Benjamin G. Jesselson,
Trustee
<PAGE> 9
PAGE 9 OF 13 PAGES
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: May 7, 1997
MICHAEL G. JESSELSON TRUST
By: /s/ Michael G. Jesselson
-----------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/ Lucy Lang
-----------------------------------------
Lucy Lang,
Trustee
By: /s/ Claire Strauss
-----------------------------------------
Claire Strauss,
Trustee
By: /s/ Michael J. Jesselson
-----------------------------------------
Michael J. Jesselson,
Trustee
By: /s/ Benjamin G. Jesselson
-----------------------------------------
Benjamin G. Jesselson,
Trustee
<PAGE> 10
PAGE 10 OF 13 PAGES
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: May 7, 1997
JESSELSON GRANDCHILDREN TRUST
By: /s/ Michael G. Jesselson
------------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/ Lucy Lang
------------------------------------------
Lucy Lang,
Trustee
By: /s/ Claire Strauss
------------------------------------------
Claire Strauss,
Trustee
By: /s/ Michael J. Jesselson
------------------------------------------
Michael J. Jesselson,
Trustee
By: /s/ Benjamin G. Jesselson
------------------------------------------
Benjamin G. Jesselson,
Trustee
<PAGE> 11
EXHIBIT INDEX
Item No. Description
- -------- -----------
1. Agreement to Jointly File Schedule 13D
2. Stock Purchase Agreement dated November 18, 1996 between
the Company and David Blech*
- --------------
* Incorporated by reference to the Schedule 13D filed by David Blech on
or about December 2, 1996, as subsequently amended.
<PAGE> 1
Agreement
Joint Filing of Schedule 13D
The undersigned hereby agree to jointly prepare and file a Schedule 13D
and any future amendments thereto reporting each of the undersigned's ownership
of securities of Xechem International, Inc. and hereby affirm that such Schedule
13D is being filed on behalf of each of the undersigned. Each party will only be
responsible for the accuracy of the information respecting itself and will be
responsible for its own filing fees.
Dated: May 7, 1997
/s/
- -----------------------------------
Michael G. Jesselson
JESSELSON GRANDCHILDREN TRUST
By: /s/
-----------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/
-----------------------------------------
Lucy Lang,
Trustee
By: /s/
-----------------------------------------
Claire Strauss,
Trustee
By: /s/
-----------------------------------------
Michael J. Jesselson,
Trustee
By: /s/
-----------------------------------------
Benjamin G. Jesselson,
Trustee
<PAGE> 2
MICHAEL G. JESSELSON TRUST
By: /s/
-----------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/
-----------------------------------------
Lucy Lang,
Trustee
By: /s/
-----------------------------------------
Claire Strauss,
Trustee
By: /s/
-----------------------------------------
Michael J. Jesselson,
Trustee
By: /s/
-----------------------------------------
Benjamin G. Jesselson,
Trustee
<PAGE> 3
BENJAMIN J. JESSELSON TRUST
By: /s/
----------------------------------------
Michael G. Jesselson as attorney
in fact for Erica Jesselson, Trustee
By: /s/
----------------------------------------
Lucy Lang,
Trustee
By: /s/
----------------------------------------
Claire Strauss,
Trustee
By: /s/
----------------------------------------
Michael J. Jesselson,
Trustee
By: /s/
----------------------------------------
Benjamin G. Jesselson,
Trustee
