SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a).
(Amendment No. 3)(1)
NETWORK PERIPHERALS INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(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
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 30, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box
|_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
- --------
(1) 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 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).
- 1 of 21 -
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Woodland Venture Fund
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* WC, OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization New York
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 554,000 shares 4.5%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 742,000 shares 6.0%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 554,000 shares 4.5%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 742,000 shares 6.0%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| PN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-2 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Woodland Partners
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* WC, OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization New York
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 310,000 shares 2.5%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 986,000 shares 8.0%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 310,000 shares 2.5%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 986,000 shares 8.0%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| PN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-3 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Seneca Ventures
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* WC, OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization New York
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 307,000 shares 2.5%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 989,000 shares 8.0%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 307,000 shares 2.5%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 989,000 shares 8.0%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| PN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-4 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Woodland Services Corp.
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization New York
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 0 shares 0%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 1,296,000 shares 10.5%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 0 shares 0%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 1,296,000 shares 10.5%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| CO
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-5 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Barry Rubenstein
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* WC, 00
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization United States
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 110,000 shares 0.9%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 1,186,000 shares 9.7%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 110,000 shares 0.9%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 1,186,000 shares 9.7%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| IN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-6 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Marilyn Rubenstein
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* 00
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization United States
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 0 shares 0%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 1,296,000 shares 10.5%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 0 shares 0%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 1,296,000 shares 10.5%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 1,296,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 10.5%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| IN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-7 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| The Marilyn and Barry Rubenstein Family Foundation
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization New York
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 15,000 shares 0.1%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 0 shares 0%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 15,000 shares 0.1%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 0 shares 0%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 15,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 0.1%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| OO
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-8 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Brian Rubenstein
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization United States
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 0 shares 0%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 15,000 shares 0.1%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 0 shares 0%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 15,000 shares 0.1%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 15,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 0.1%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| IN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-9 of 21-
<PAGE>
CUSIP
No. 64121R100 13D
================================================================================
1 | Name of Reporting Person
| I.R.S. Identification Nos of Above Person (Entities Only)
| Rebecca Rubenstein
|
- --------------------------------------------------------------------------------
2 | Check the Appropriate Box if a Member of a Group* (a) |X|
| (b) |_|
- --------------------------------------------------------------------------------
3 | SEC Use Only
|
- --------------------------------------------------------------------------------
4 | Source of Funds* OO
|
- --------------------------------------------------------------------------------
5 | Check Box if Disclosure of Legal Proceedings is Required |_|
| Pursuant to Item 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 | Citizenship or Place of Organization United States
|
- --------------------------------------------------------------------------------
| 7 | Sole Voting Power
| | 0 shares 0%
Number of |-----------------------------------------------------------
Shares | 8 | Shared Voting Power
Beneficially | | 15,000 sharess 0.1%
Owned By |-----------------------------------------------------------
Each | 9 | Sole Dispositive Power
Reporting | | 0 shares 0%
Person |-----------------------------------------------------------
With | 10 | Shared Dispositive Power
| | 15,000 shares 0.1%
- --------------------------------------------------------------------------------
11 | Aggregate Amount Beneficially Owned By Each Reporting Person
| 15,000 shares
|
- --------------------------------------------------------------------------------
12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
|
- --------------------------------------------------------------------------------
13 | Percent of Class Represented by Amount in Row (11)
| 0.1%
|
- --------------------------------------------------------------------------------
14 | Type of Reporting Person*
| IN
|
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-10 of 21-
<PAGE>
This statement, dated June 30, 1998, constitutes Amendment No. 3 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. 3 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 2. Identity and Background
1. (a) Barry Rubenstein, a general partner of Woodland
Partners, Seneca Ventures, and Woodland Venture Fund, and one of the Trustees of
The Marilyn and Barry Rubenstein Family Foundation.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: General Partner of partnerships
and limited partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States
Barry Rubenstein is the husband of Marilyn Rubenstein
and the father of Brian Rubenstein and Rebecca Rubenstein.
2. (a) Marilyn Rubenstein, a general partner of Woodland
Partners, and one of the Trustees of The Marilyn and Barry Rubenstein Family
Foundation.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Housewife
(d) No.
(e) No.
(f) Citizenship: United States
Marilyn Rubenstein is the wife of Barry Rubenstein
and the mother of Brian Rubenstein and Rebecca Rubenstein.
3. (a) The Marilyn and Barry Rubenstein Family Foundation,
an organization which is exempt from federal income taxation pursuant to Section
501(a) of the Internal Revenue Code of 1986, as amended (the "Foundation").
-11 of 21-
<PAGE>
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Charitable Foundation.
(d) No.
(e) No.
(f) Citizenship: United States
Barry Rubenstein, Marilyn Rubenstein, Brian
Rubenstein and Rebecca Rubenstein are the Trustees of the Foundation.
4. (a) Brian Rubenstein, one of the Trustees of The Marilyn
and Barry Rubenstein Family Foundation.
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Research Analyst
(d) No.
(e) No.
(f) Citizenship: United States.
Brian Rubenstein is the son of Barry Rubenstein and
Marilyn Rubenstein.
5. (a) Rebecca Rubenstein, one of the Trustees of The
Marilyn and Barry Rubenstein Family Foundation.
(b) Address:
300 East 75th Street
New York, New York 10021
(c) Principal Occupation: Teacher
(d) No.
(e) No.
(f) Citizenship: United States.
Rebecca Rubenstein is the daughter of Barry
Rubenstein and Marilyn Rubenstein.
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/or
other funds, the Foundation obtained funds for the purchase of the shares of
Common Stock from its other funds, and the Barry Rubenstein Rollover IRA
obtained funds for its purchase of the additional shares of Common Stock from
its other funds.
-12 of 21-
<PAGE>
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:
<TABLE>
<CAPTION>
Name Amount of Consideration
---- -----------------------
<S> <C>
Woodland Venture Fund $767,125
Woodland Partners $ 72,500
Seneca Ventures $564,813
Barry Rubenstein Rollover IRA $ 72,500
The Marilyn and Barry Rubenstein Family
Foundation $109,375
</TABLE>
ITEM 4. Purpose of Transaction.
The reporting persons acquired their shares for purposes of
investment. The reporting persons do not have any plans or proposals which
relate to or would result in any of the actions set forth in subparagraphs (a)
through (j) of Item 4 of the Schedule 13D.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 12,288,759 shares of Common Stock outstanding as reported
in the Issuer's Form 10-Q for the quarter ended March 31, 1998) of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of June 30, 1998:
-13 of 21-
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
<S> <C> <C>
Woodland Venture Fund 1,296,000(2,6) 10.5%
Woodland Partners 1,296,000(3,6) 10.5%
Seneca Ventures 1,296,000(4,6) 10.5%
Woodland Services Corp. 1,296,000(5,6) 10.5%
Barry Rubenstein 1,296,000(6) 10.5%
Marilyn Rubenstein 1,296,000(6) 10.5%
The Marilyn and Barry Rubenstein
Family Foundation 15,000 0.1%
Brian Rubenstein 15,000(6) 0.1%
Rebecca Rubenstein 15,000(6) 0.1%
</TABLE>
(b) The Fund has sole power to vote and to dispose of 554,000
shares of Common Stock representing approximately 4.5% of the outstanding Common
Stock, and may be deemed to have shared power to vote and to dispose of 742,000
shares of Common Stock representing approximately 6.0% of the outstanding Common
Stock.
Partners has sole power to vote and to dispose of 310,000
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 986,000
shares of Common Stock representing approximately 8.0% of the outstanding Common
Stock.
Seneca has sole power to vote and to dispose of 307,000 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 989,000 shares
of Common Stock representing approximately 8.0% of the outstanding Common Stock.
Services may be deemed to have shared power to vote and to
dispose of 1,296,000 shares of Common Stock representing approximately 10.5% of
the outstanding Common Stock.
- --------
(2) The Fund disclaims beneficial ownership of 310,000 shares of Common
Stock owned by Partners, 307,000 shares of Common Stock owned by
Seneca, 110,000 shares of Common Stock held in Barry Rubenstein's
Rollover IRA account, and 15,000 shares of Common Stock owned by the
Foundation.
(3) Partners disclaim beneficial ownership of 554,000 shares of Common
Stock owned by the Fund, 307,000 shares of Common Stock owned by
Seneca, 110,000 shares of Common Stock held in Barry Rubenstein's
Rollover IRA account, and 15,000 shares of Common Stock owned by the
Foundation.
(4) Seneca disclaims beneficial ownership of 307,000 shares of Common Stock
owned by Partners, 554,000 shares of Common Stock owned by the Fund,
110,000 shares of Common Stock held in Barry Rubenstein's Rollover IRA
account, and 15,000 shares of Common Stock owned by the Foundation.
(5) Services disclaims beneficial ownership of 310,000 shares of Common
Stock owned by Partners, 110,000 shares of Common Stock held in Barry
Rubenstein's Rollover IRA account, and 15,000 shares of Common Stock
owned by the Foundation.
(6) The reporting person disclaims beneficial ownership of these securities
except to the extent of his/her/its equity interest therein.
-14 of 21-
<PAGE>
Barry Rubenstein, by virtue of being a general partner of
Seneca, Partners and the Fund, and a Trustee of the Foundation, may be deemed to
have shared power to vote and to dispose of 1,186,000 shares of Common Stock
representing approximately 9.7% of the outstanding Common Stock. Barry
Rubenstein has sole power to vote and to dispose of 110,000 shares of Common
Stock currently held in his Rollover IRA account representing approximately 0.9%
of the outstanding Common Stock.
Marilyn Rubenstein, by virtue of being a general partner of
Partners, a Trustee of the Foundation and wife of Barry Rubenstein, may be
deemed to have shared power to vote and to dispose of 1,296,000 shares of Common
Stock representing approximately 10.5% of the outstanding Common Stock.
The Foundation has sole power to vote and to dispose of 15,000
shares of Common Stock, representing approximately 0.1% of the outstanding
Common Stock.
Brian Rubenstein, by virtue of being a Trustee of the
Foundation, may be deemed to have shared power to vote and to dispose of 15,000
shares of Common Stock, representing approximately 0.1% of the outstanding
Common Stock.
Rebecca Rubenstein, by virtue of being a Trustee of the
Foundation, may be deemed to have shared power to vote and to dispose of 15,000
shares of Common Stock, representing approximately 0.1% 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 April 30, 1998 through June 30, 1998, inclusive.
<TABLE>
<CAPTION>
Purchase or Number of Shares Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- ----------- -------------------- -----------
<S> <C> <C> <C>
Seneca Ventures 6/30/98 50,000 $5.00
6/30/98 25,000 5.06
Woodland Venture Fund 6/30/98 50,000 5.00
6/30/98 25,000 5.06
</TABLE>
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.
-15 of 21-
<PAGE>
(e) Not applicable.
ITEM 7. Material to be Filed as Exhibits
Exhibit A. - Agreement, effective as of June 30, 1998, 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).
Exhibit B. - Power of Attorney, dated June 30, 1998,
appointing Barry Rubenstein as attorney-in-fact for Brian Rubenstein.
Exhibit C. - Power of Attorney, dated June 30, 1998,
appointing Barry Rubenstein as attorney-in-fact for Rebecca Rubenstein.
-16 of 21-
<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: July 7, 1998
Barry Rubenstein
--------------------------------------------
Barry Rubenstein, individually, as General
Partner on behalf of Woodland Partners,
Seneca Ventures, and Woodland Venture Fund,
as President of Woodland Services Corp., and
as Trustee of The Marilyn and Barry
Rubenstein Family Foundation
Marilyn Rubenstein
--------------------------------------------
Marilyn Rubenstein
*
--------------------------------------------
Brian Rubenstein
*
--------------------------------------------
Rebecca Rubenstein
*By: Barry Rubenstein
----------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-17 of 21-
<PAGE>
Exhibit A
AGREEMENT PURSUANT TO RULE 13d l(f)
OF THE SECURITIES AND EXCHANGE COMMISSION
AGREEMENT, to be effective as of June 30, 1998 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 WOODLAND SERVICES CORP., with its
principal office at 68 Wheatley Road, Brookville, New York 11545, THE MARILYN
AND BARRY RUBENSTEIN FAMILY FOUNDATION, with its principal office at 68 Wheatley
Road, Brookville, New York 11545, BRIAN RUBENSTEIN, residing at 68 Wheatley
Road, Brookville, New York 11545 and REBECCA RUBENSTEIN, residing at 300 East
75th Street, New York, New York 10021.
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.
-18 of 21-
<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.
Date: July 7, 1998
Barry Rubenstein
--------------------------------------------
Barry Rubenstein, individually, as General
Partner on behalf of Woodland Partners,
Seneca Ventures, and Woodland Venture Fund,
as President of Woodland Services Corp., and
as Trustee of The Marilyn and Barry
Rubenstein Family Foundation
Marilyn Rubenstein
--------------------------------------------
Marilyn Rubenstein
*
--------------------------------------------
Brian Rubenstein
*
--------------------------------------------
Rebecca Rubenstein
*By: Barry Rubenstein
----------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-19 of 21-
<PAGE>
Exhibit B
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature
appears below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 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, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 30th day of
June, 1998.
Brian Rubenstein
---------------------------------
Brian Rubenstein
-20 of 21-
<PAGE>
Exhibit C
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature
appears below constitutes and appoints BARRY RUBENSTEIN, her true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for her and in her name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 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, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as she might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 30th day of
June, 1998.
Rebecca Rubenstein
---------------------------------
Rebecca Rubenstein
-21 of 21-
