SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
NETWORK PERIPHERALS INC.
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(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
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(Title of Class of Securities)
64121R100
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(CUSIP Number)
Copy to:
Seneca Ventures Stephen A. Cohen, Esq.
68 Wheatley Road Morrison Cohen Singer & Weinstein, LLP
Brookville, New York 11545 750 Lexington Avenue
Telephone (516) 626-3070 New York, New York 10022
Telephone (212) 735-8600
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
October 29, 1996
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(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following space ____.
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.
*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).
(Continued on following page(s))
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Venture Fund
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2 Check the Appropriate Box if a Member of a Group* (a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
305,000 shares 2.6%
Number of ----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 459,100 shares 3.9%
Owned By ----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 305,000 shares 2.6%
Person ----------------------------------------------------------------
With 10 Shared Dispositive Power
459,100 shares 3.9%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Partners
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2 Check the Appropriate Box if a Member of a Group* (a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 245,500 shares 2.1%
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 518,600 shares 4.4%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 245,500 shares 2.1%
With ----------------------------------------------------------------
10 Shared Dispositive Power
518,600 shares 4.4%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seneca Ventures
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2 Check the Appropriate Box if a Member of a Group* (a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 165,600 shares 1.4%
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 598,500 shares 5.0%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 165,600 shares 1.4%
With ----------------------------------------------------------------
10 Shared Dispositive Power
598,500 shares 5.0%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Services Corp.
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2 Check the Appropriate Box if a Member of a Group*
(a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 0 shares 0%
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 764,100 shares 6.4%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With ----------------------------------------------------------------
10 Shared Dispositive Power
764,100 shares 6.4%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
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2 Check the Appropriate Box if a Member of a Group* (a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC.00
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization United States
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7 Sole Voting Power
Number of 48,000 shares .4%
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 716,100 shares 6.0%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 48,000 shares .4%
With ----------------------------------------------------------------
10 Shared Dispositive Power
716,100 shares 6.0%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
CUSIP
No. 64121R100 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
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2 Check the Appropriate Box if a Member of a Group* (a) |X|
(b) |_|
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3 SEC Use Only
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4 Source of Funds* WC,00
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization United States
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7 Sole Voting Power
Number of 0 shares 0%
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 764,100 shares 6.4%
Each ----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With ----------------------------------------------------------------
10 Shared Dispositive Power
764,100 shares 6.4%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
764,100 shares
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12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares*|_|
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13 Percent of Class Represented by Amount in Row (11)
6.4%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
This statement, dated October 29, 1996, constitutes Amendment No. 1 to the
Schedule 13D, dated May 30, 1996, regarding the reporting persons' ownership of
certain securities of Network Peripherals Inc. (the "Issuer"). This Schedule 13D
is hereinafter referred to as the "Schedule". All capitalized terms used herein
and otherwise undefined shall have the meanings ascribed in the Schedule. This
Amendment No. 1 to the Schedule is filed in accordance with Rule 13d-2 of the
Securities Exchange Act of 1934, as amended, by the reporting persons. It shall
refer only to information which has materially changed since the filing of the
Schedule.
ITEM 3. Source and Amounts of Funds or Other Consideration
The partnerships obtained funds for the purchase of the shares of Common
Stock from their respective working capital and other funds.
The amount of funds used in making the purchases of the shares of Common
Stock in the over-the-counter market are set forth below:
Name Amount of Consideration
---- -----------------------
Woodland Venture Fund $3,741,938
Woodland Partners $3,511,375
Seneca Ventures $1,990,594
Barry Rubenstein Rollover IRA $ 767,625
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 11,897,036 shares of Common Stock outstanding as reported in the
Issuer's Form 10-Q for the quarter ended June 30, 1996) of outstanding shares of
Common Stock owned beneficially by each reporting person named in Item 2, as of
October 30, 1996:
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<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Woodland Venture Fund 764,100(1) 6.4%
Woodland Partners 764,100(2) 6.4%
Seneca Ventures 764,100(3) 6.4%
Woodland Services Corp. 764,100(4) 6.4%
Barry Rubenstein 764,100(5) 6.4%
Marilyn Rubenstein 764,100(6) 6.4%
(b) The Fund has sole power to vote and dispose of 305,000 shares of Common
Stock, and may be deemed to have shared power to vote and dispose of 459,100
shares of Common Stock.
Partners has sole power to vote and to dispose of 245,500 shares of Common
Stock, and may be deemed to have shared power to vote and to dispose of 518,600
shares of Common Stock.
- --------
(1) The Fund disclaims beneficial ownership of 245,500 shares of Common Stock
owned by Partners, 165,600 shares of Common Stock owned by Seneca and
48,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(2) Partners disclaim beneficial ownership of 305,000 shares of Common Stock
owned by the Fund, 165,600 shares of Common Stock owned by Seneca and
48,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(3) Seneca disclaims beneficial ownership of 245,500 shares of Common Stock
owned by Partners, 305,000 shares of Common Stock owned by the Fund and
48,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(4) 418 shares of Common Stock beneficially owned by Services represents its
equity interest in the Fund and 260 shares of Common Stock beneficially
owned by Services represents its equity interest in Seneca. Services
disclaims beneficial ownership of 245,500 shares of Common Stock owned by
Partners, and 48,000 shares of Common Stock held in Barry Rubenstein's
Rollover IRA account.
(5) 220,950 shares of Common Stock beneficially owned by Mr. Rubenstein
represents Mr. Rubenstein's equity interest in Partners, 123,362 shares of
Common Stock represents his equity interest in the Fund and 36,432 shares
of Common Stock represents his equity interest in Seneca. Mr. Rubenstein
disclaims beneficial ownership of 24,550 shares of Common Stock held by
Partners (which represents his wife's equity interest in Partners), 181,638
shares of Common Stock owned by the Fund and 129,168 shares of Common Stock
owned by Seneca.
(6) 24,550 shares of Common Stock represents Mrs. Rubenstein's equity interest
in Partners and 14,837 shares of Common Stock represents Mrs. Rubenstein's
equity interest as a limited partner of Seneca. Mrs. Rubenstein disclaims
beneficial ownership of 220,950 shares of Common Stock held by Partners
(which represents her husband's equity interest in Partners), 150,763
shares of Common Stock owned by Seneca, 305,000 shares of Common Stock
owned by the Fund and 48,000 shares of Common Stock held in Barry
Rubenstein's Rollover IRA account.
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<PAGE>
Seneca has sole power to vote and to dispose of 165,600 shares of Common
Stock, and may be deemed to have shared power to vote and to dispose of 598,500
shares of Common Stock.
Services may be deemed to have shared power to vote and to dispose of
764,100 shares of Common Stock.
Barry Rubenstein, by virtue of being a general partner of Seneca, Partners
and the Fund, may be deemed to have shared power to vote and to dispose of
716,100 shares of Common Stock representing approximately 6.0% of the
outstanding Common Stock. Barry Rubenstein has sole power to vote and dispose of
48,000 shares of Common Stock currently held in his Rollover IRA account
representing approximately .4% of the outstanding Common Stock.
Marilyn Rubenstein, by virtue of being a general partner of Partners and
wife of Barry Rubenstein, may be deemed to have shared power to vote and dispose
of 764,100 shares of Common Stock representing approximately 6.4% of the
outstanding Common Stock.
(c) The following is a description of all transactions in shares of Common
Stock of the Issuer by the persons identified in Item 2 of this Schedule 13D
effected from August 29, 1996 through October 30, 1996, inclusive.
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Woodland Partners 10/29/96 15,000 $16.3125
Seneca Ventures 10/30/96 2,500 $17.25
Barry Rubenstein Rollover IRA 9/25/96 10,000 $14.8125
9/26/96 8,000 $14.625
The reporting persons acquired the shares of Common Stock in the
over-the-counter market.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
ITEM 7. Material to be Filed as Exhibits
Exhibit A - Agreement, effective as of October 29, 1996, among the
reporting persons by which they have agreed to file this Schedule 13D and all
necessary amendments, as required by Rule 13d-1(f).
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<PAGE>
Signature
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Date: October 31, 1996
s/ Barry Rubenstein
--------------------------------------
Barry Rubenstein, individually, and as
General Partner on behalf of Seneca
Ventures, Woodland Venture Fund, and
Woodland Partners, and as President of
Woodland Services Corp.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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Exhibit A
AGREEMENT PURSUANT TO RULE 13d l(f)
OF THE SECURITIES AND EXCHANGE COMMISSION
AGREEMENT, to be effective as of October 29, 1996, among SENECA VENTURES,
with its principal office at 68 Wheatley Road, Brookville, New York 11545,
WOODLAND VENTURE FUND, with its principal office at 68 Wheatley Road,
Brookville, New York 11545, WOODLAND PARTNERS, with its principal office at 68
Wheatley Road, Brookville, New York 11545, BARRY RUBENSTEIN, residing at 68
Wheatley Road, Brookville, New York 11545 and WOODLAND SERVICES CORP., with its
principal office at 68 Wheatley Road, Brookville, New York 11545.
WHEREAS, for convenience and expediency, each party hereto desires to file
the statements required by ss.13(d) of the Securities Exchange Act of 1934, as
amended, jointly with all other parties hereto; and
WHEREAS, Rule 13D-1(f) promulgated by the Securities and Exchange
Commission requires that this Agreement be set forth in writing and filed with
the Commission;
NOW THEREFORE, it is hereby agreed as follows:
1. Each party hereto agrees that it will file all statements and reports
required under ss.13(d) of the Securities Exchange Act of 1934, as amended,
including without limitation, Schedule 13D, and all amendments of all such
statements and/or reports, jointly with all other parties hereto.
2. Any party hereto may hereafter terminate this Agreement, with respect to
itself only, by giving written notice thereof to all other parties hereto, and
to NETWORK
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<PAGE>
PERIPHERALS INC., and the Securities and Exchange Commission. The withdrawal of
any one or more parties shall not cause the termination of this Agreement with
respect to the parties not giving notice of termination as aforesaid.
3. Unless sooner terminated as provided in paragraph 2 above, this
Agreement shall be for a period of one (1) year from the date hereof, and shall
be automatically renewable for successive one (1) year periods, unless
terminated by any party, as to such party, on sixty (60) days notice.
4. This Agreement may be executed in counterparts, each of which shall be
deemed an original and all of which shall constitute one and the same
instrument.
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<PAGE>
IN WITNESS WHEREOF, we have executed this Agreement with the intention that
it shall be binding upon us as of the day and year set forth above.
s/ Barry Rubenstein
-----------------------------------
Barry Rubenstein, individually, and
as General Partner on behalf of
Seneca Ventures, Woodland Venture
Fund, and Woodland Partners, and
as President of Woodland Services
Corp.
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