SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
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. 1)(1)
GLOBAL TELECOMMUNICATION SOLUTIONS, INC.
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
37935Y107
(CUSIP Number)
Copy to:
Eli Oxenhorn Michael R. Reiner, Esq.
56 The Intervale Morrison Cohen Singer & Weinstein, LLP
Roslyn Estates, New York 11576 750 Lexington Avenue
Telephone (516) 625-7005 New York, New York 10022
Telephone (212) 735-8600
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
April 1, 1999
(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(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).
Page 1 of 7
<PAGE>
CUSIP No. 37935Y107 13D
________________________________________________________________________________
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Eli Oxenhorn
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
PF
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 442,826 shares 3.0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
56,668 shares 0.4%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 442,826 shares 3.0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
56,668 shares 0.4%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
499,494 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
3.4%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 7
<PAGE>
CUSIP No. 37935Y107 13D
________________________________________________________________________________
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Seth Oxenhorn
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
PF
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 28,668 shares 0.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 28,668 shares 0.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
28,668 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0.2%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 7
<PAGE>
CUSIP No. 37935Y107 13D
________________________________________________________________________________
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Abby Oxenhorn
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
PF
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 28,000 shares 0.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned By
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 28,000 shares 0.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
28,000 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0.2%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 7
<PAGE>
This statement, dated April 1, 1999, constitutes Amendment No. 1 to the
Schedule 13D, dated November 1, 1998, regarding the reporting persons' ownership
of certain securities of Global Telecommunication Solutions, Inc. (the
"Issuer").
The 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
13-d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")
by the reporting persons. It shall refer only its information which has
materially changed since the filing of the Schedule.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 14,429,081 shares of Common Stock outstanding as reported by the
Issuer in its Form 10-KSB for the year ended December 31, 1998), of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of April 1, 1999:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Eli Oxenhorn 499,494(2) 3.4%
Seth Oxenhorn 28,668(3) 0.2%
Abby Oxenhorn 28,000(4) 0.2%
(b) By virtue of being the father of Seth Oxenhorn and Abby Oxenhorn, Eli
Oxenhorn may be deemed to have shared power to vote and to dispose of 56,334
shares of Common Stock and 334 shares of Common Stock issuable upon the exercise
of the Conversion Warrants, representing approximately 0.4% of the outstanding
Common Stock. Eli Oxenhorn has sole power to vote and to dispose of 334,492
shares of Common Stock, 33,334 shares of Common Stock issuable upon the exercise
of the Option, 25,000 shares of Common Stock issuable upon the exercise of the
1997 Option, and 50,000 shares of Common Stock issuable upon the exercise of the
1998 Option, representing approximately 3.0% of the outstanding Common Stock.
- --------
(2) Includes 499,494 shares of Common Stock (including 33,334 shares of
Common Stock issuable upon the exercise of the Option, 25,000 shares of Common
Stock issuable upon the exercise of the 1997 Option and 50,000 shares of Common
Stock issuable upon the exercise of the 1998 Option). Eli Oxenhorn disclaims
beneficial ownership of the 28,334 shares of Common Stock beneficially owned by
Seth Oxenhorn and 334 shares of Common Stock issuable upon the exercise of the
Conversion Warrants owned by Seth Oxenhorn, and disclaims beneficial ownership
of the 28,000 shares of Common Stock beneficially owned by Abby Oxenhorn.
(3) Includes 28,334 shares of Common Stock and 334 shares of Common Stock
issuable upon the exercise of the Conversion Warrants.
(4) Consists of 28,000 shares of Common Stock.
Page 5 of 7
<PAGE>
Seth Oxenhorn has sole power to vote and to dispose of 28,334 shares of
Common Stock and 334 shares of Common Stock issuable upon the exercise of the
Conversion Warrants, representing approximately 0.2% of the outstanding Common
Stock.
Abby Oxenhorn has sole power to vote and to dispose of 28,000 shares of
Common Stock, representing approximately 0.2% of the outstanding Common Stock.
(c) There were no transactions in the securities of the Issuer by the
reporting persons identified in Item 2 of this Schedule 13D effected from
January 30, 1999 through April 1, 1999, inclusive:
(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) Effective April 1, 1999, the reporting persons ceased to be beneficial
owners of more than five percent (5%) of the Common Stock of the Issuer.
Page 6 of 7
<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: September 16, 1999
/s/ Eli Oxenhorn
--------------------------------
Eli Oxenhorn
/s/ Seth Oxenhorn
--------------------------------
Seth Oxenhorn
/s/ Abby Oxenhorn
--------------------------------
Abby Oxenhorn
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 7 of 7
