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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)*
7th Level, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
817916-10-9
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 9 pages
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CUSIP NO. 817916-10-9 SCHEDULE 13G PAGE 2 OF 9 PAGES
--------------------- ----- -----
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Entec Associates, a California general partnership
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Entec Associates, a California general partnership
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 1,166,658**
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,166,658**
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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
8.3%**
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(12) TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**As of December 31, 1997.
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CUSIP NO. 817916-10-9 SCHEDULE 13G PAGE 3 OF 9 PAGES
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(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Michael R. Milken
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 1,166,658**
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,166,658**
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.3%**
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**As of December 31, 1997.
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CUSIP NO. 817916-10-9 SCHEDULE 13G PAGE 4 OF 9 PAGES
--------------------- ----- -----
(1) NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Lori A. Milken
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
---------------------------------------------------------------------
(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 1,166,658**
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,166,658**
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.3%**
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**As of December 31, 1997.
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ITEM 1.
(a) Name of Issuer: 7th Level, Inc.
(b) Address of Issuer's Principal Executive Offices:
1110 East Collins Boulevard
Suite 122
Richardson, Texas 75081
ITEM 2.
(a) Name of Person Filing: Entec Associates and the general
partners of Entec Associates who are Michael R. Milken and
Lori A. Milken.
(b) Address of Principal Business Office or, if None,
Residence: 844 Moraga Drive
Los Angeles, California 90049
(c) Citizenship: Entec Associates, a California general
partnership. Michael R. Milken: United States citizen.
Lori A. Milken: United States citizen
(d) Title of Class of Securities: 7th Level, Inc. Common Stock,
$.01 par value per share
(e) CUSIP Number: 817916-10-9
ITEM 3. Not Applicable
ITEM 4. Ownership
(a) Amount Beneficially Owned: 1,166,658*
As of December 31, 1997, 400,100 shares were owned by the
Association for the Cure of Cancer of the Prostate ("CaP CURE"),
all of which have since been sold. Michael R. Milken is the
President and a Director of CaP CURE and, in such capacity, may
be deemed to have had beneficial ownership of the shares owned
by CaP CURE. Mr. Milken disclaims beneficial ownership of such
shares.
(b) Percent of Class: 8.3%*
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition
of: 1,166,658*
(iv) shared power to dispose or to direct the disposition
of: 0
* As of December 31, 1997.
PAGE 5 OF 9 PAGES
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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
ITEM 10.CERTIFICATION
Not Applicable
PAGE 6 OF 9 PAGES
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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.
Date: February 13, 1998
ENTEC ASSOCIATES:
/s/ Michael R. Milken
--------------------------------
By: Michael R. Milken,
General Partner
/s/ Michael R. Milken
--------------------------------
Michael R. Milken
/s/ Lori A. Milken
--------------------------------
Lori A. Milken
PAGE 7 OF 9 PAGES
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EXHIBIT INDEX
Exhibit Document Page
- ------- -------- ----
1 Joint Filing Agreement 9
PAGE 8 OF 9 PAGES
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EXHIBIT 1
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(f)(1)(iii), we the undersigned agree that this
Schedule 13G, to which this Joint Filing Agreement is attached as Exhibit 1, is
filed on behalf of each of us.
Date: February 13, 1998
ENTEC ASSOCIATES:
/s/ Michael R. Milken
--------------------------------
By: Michael R. Milken,
General Partner
/s/ Michael R. Milken
--------------------------------
Michael R. Milken
/s/ Lori A. Milken
--------------------------------
Lori A. Milken
PAGE 9 OF 9 PAGES
