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. 2)*
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
(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)
December 8, 1997
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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
| 425,000 shares 3.5%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 605,000 shares 5.0%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 425,000 shares 3.5%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 605,000 shares 5.0%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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
| 300,000 shares 2.5%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 730,000 shares 6.0%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 300,000 shares 2.5%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 730,000 shares 6.0%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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
| 205,000 shares 1.7%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 825,000 shares 6.8%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 205,000 shares 1.7%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 825,000 shares 6.8%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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* 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
| 0 shares 0%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 1,030,000 shares 8.4%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 0 shares 0%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 1,030,000 shares 8.4%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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
| 100,000 shares .8%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 930,000 shares 7.6%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 100,000 shares .8%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 930,000 shares 7.6%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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* 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
| 0 shares 0%
Number of |------------------------------------------------------------
Shares | 8 Shared Voting Power
Beneficially | 1,030,000 shares 8.4%
Owned By |------------------------------------------------------------
Each | 9 Sole Dispositive Power
Reporting | 0 shares 0%
Person |------------------------------------------------------------
With | 10 Shared Dispositive Power
| 1,030,000 shares 8.4%
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11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,030,000 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) 8.4%
|
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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 December 8, 1997, constitutes Amendment No. 2 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. 2 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 additional
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 $540,656
Woodland Partners $673,813
Seneca Ventures $281,709
Barry Rubenstein Rollover IRA $ 89,719
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 12,213,497 shares of Common Stock outstanding as reported
in the Issuer's Form 10-Q for the quarter ended September 30, 1997) of
outstanding shares of Common Stock owned beneficially by each reporting person
named in Item 2, as of December 10, 1997:
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<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Woodland Venture Fund 1,030,000(1,5) 8.4%
Woodland Partners 1,030,000(2,5) 8.4%
Seneca Ventures 1,030,000(3,5) 8.4%
Woodland Services Corp. 1,030,000(4,5) 8.4%
Barry Rubenstein 1,030,000(5) 8.4%
Marilyn Rubenstein 1,030,000(5) 8.4%
(b) The Fund has sole power to vote and dispose of 425,000 shares
of Common Stock representing approximately 3.5% of the outstanding Common Stock,
and may be deemed to have shared power to vote and dispose of 605,000 shares of
Common Stock representing approximately 5.0% of the outstanding Common Stock.
Partners has sole power to vote and to dispose of 300,000 shares of
Common Stock representing approximately 2.5% of the outstanding Common Stock,
and may be deemed to have shared power to vote and to dispose of 730,000 shares
of Common Stock representing approximately 6.0% of the Common Stock.
Seneca has sole power to vote and to dispose of 205,000 shares of
Common Stock representing approximately 1.7% of the Common Stock, and may be
deemed to have shared power to vote and to dispose of 825,000 shares of Common
Stock representing approximately 6.8% of the Common Stock.
Services may be deemed to have shared power to vote and to dispose
of 1,030,000 shares of Common Stock representing approximately 8.4% of the
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 930,000 shares of Common Stock representing approximately 7.6% of the
outstanding Common Stock. Barry Rubenstein has
- ----------
(1) The Fund disclaims beneficial ownership of 300,000 shares of Common Stock
owned by Partners, 205,000 shares of Common Stock owned by Seneca and
100,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(2) Partners disclaim beneficial ownership of 425,000 shares of Common Stock
owned by the Fund, 205,000 shares of Common Stock owned by Seneca and
100,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(3) Seneca disclaims beneficial ownership of 300,000 shares of Common Stock
owned by Partners, 425,000 shares of Common Stock owned by the Fund and
100,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account.
(4) Services disclaims beneficial ownership of 300,000 shares of Common Stock
owned by Partners, and 100,000 shares of Common Stock held in Barry
Rubenstein's Rollover IRA account.
(5) The reporting person disclaims beneficial ownership of these securities
except to the extent of his/her/its equity interest therein.
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<PAGE>
sole power to vote and dispose of 100,000 shares of Common Stock currently held
in his Rollover IRA account representing approximately .8% 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 1,030,000 shares of Common Stock representing approximately 8.4% 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 October 8, 1997 through December 10, 1997, inclusive.
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Seneca Ventures 11/5/97 1,500 $5.56
11/7/97 5,000 6.06
12/1/97 7,500 5.97
12/1/97 2,500 5.63
12/2//97 5,000 5.63
12/8/97 12,000 6.13
12/9/97 5,000 6.13
12/10/97 8,400 6.19
Woodland Venture Fund 10/29/97 5,000 5.28
10/30/97 10,000 5.13
11/4/97 10,000 5.41
11/6/97 20,000 5.81
11/7/97 9,000 6.06
12/1/97 15,000 5.97
12/1/97 5,000 5.63
12/1/97 3,500 5.81
12/2/97 10,000 5.63
12/8/97 23,000 6.13
12/9/97 10,000 6.13
12/10/97 14,500 6.19
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<PAGE>
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Woodland Partners 10/29/97 5,000 $5.28
10/30/97 15,000 5.13
11/4/97 10,000 5.41
11/6/97 24,000 5.81
11/7/97 20,000 5.81
11/7/97 14,000 6.06
11/18/97 5,000 5.56
11/24/97 5,000 5.13
11/24/97 20,000 5.31
12/8/97 30,000 6.13
12/8/97 20,000 6.16
12/9/97 1,000 6.13
Barry Rubenstein Rollover IRA 12/10/97 14,500 6.19
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 December 8, 1997, 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: December 12, 1997
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.
s/ Marilyn Rubenstein
---------------------------
Marilyn Rubenstein
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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<PAGE>
Exhibit A
AGREEMENT PURSUANT TO RULE 13d l(f)
OF THE SECURITIES AND EXCHANGE COMMISSION
AGREEMENT, to be effective as of December 8, 1997 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, MARILYN RUBENSTEIN, residing 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 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.
s/ Marilyn Rubenstein
--------------------------------------
Marilyn Rubenstein
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