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. 4)*
ENTERACTIVE, INC.
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- -------------------------------------------------------------------------------
(Title of Class of Securities)
293636106
-----------------
(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 Persons
Authorized to Receive Notices and Communications)
JUNE 17, 1997
- -------------------------------------------------------------------------------
(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))
- 1 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions) OO
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
332,500 shares 2.1%
-------------------------------------------------------------------
8 Shared Voting Power
9,688,789 shares 52.0%
--------------------------------------------------------------------
9 Sole Dispositive Power
332,500 shares 4.2%
--------------------------------------------------------------------
10 Shared Dispositive Power
4,485,829 shares 41.0%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
4,818,329 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 44.0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
===============================================================================
- 2 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Venture Fund
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
584,684 shares 3.8%
-------------------------------------------------------------------
8 Shared Voting Power
1,128,779 shares 7.2%
-------------------------------------------------------------------
9 Sole Dispositive Power
310,844 shares 4.0%
-------------------------------------------------------------------
10 Shared Dispositive Power
763,659 shares 9.4%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,074,503 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
===============================================================================
- 3 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seneca Ventures
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
390,482 shares 2.5%
-------------------------------------------------------------------
8 Shared Voting Power
1,322,981 shares 8.4%
-------------------------------------------------------------------
9 Sole Dispositive Power
207,922 shares 2.7%
-------------------------------------------------------------------
10 Shared Dispositive Power
866,581 shares 10.7%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,074,503 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person(See Instructions)
PN
================================================================================
- 4 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Services Corp.
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
Number of 0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
1,713,463 shares 10.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,074,503 shares 13.0%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,074,503 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0 %
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
CO
===============================================================================
- 5 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Partners, L.P.
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
2,793,186 shares 17.2%
-------------------------------------------------------------------
8 Shared Voting Power
1,325,336 shares 8.4%
-------------------------------------------------------------------
9 Sole Dispositive Power
1,245,990 shares 14.6%
-------------------------------------------------------------------
10 Shared Dispositive Power
590,532 shares 7.3%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
===============================================================================
- 6 of 40 -
<PAGE>
CUSIP No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications T-E Partners, L.P.
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
954,322 shares 6.1%
-------------------------------------------------------------------
8 Shared Voting Power
3,164,200 shares 19.4%
-------------------------------------------------------------------
9 Sole Dispositive Power
427,636 shares 5.4%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,408,886 shares 16.3%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person(See Instructions)
PN
===============================================================================
- 7 of 40 -
<PAGE>
CUSIP No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Foreign Partners, L.P.
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items (d) or 2(e)
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
371,014 shares 2.4%
-------------------------------------------------------------------
8 Shared Voting Power
3,747,508 shares 22.7%
-------------------------------------------------------------------
9 Sole Dispositive Power
162,896 shares 2.1%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,673,626 shares 19.0%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person(See Instructions)
PN
===============================================================================
- 8 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Michael J. Marocco
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
4,118,522 shares 24.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,836,522 shares 20.6%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
===============================================================================
- 9 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Lewis
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
4,118,522 shares 24.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,836,522 shares 20.6%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
===============================================================================
- 10 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
John Kornreich
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
4,118,522 shares 24.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,836,522 shares 20.6%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person(See Instructions)
IN
===============================================================================
- 11 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Harvey Sandler
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
4,118,522 shares 24.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,836,522 shares 20.6%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person(See Instructions)
IN
===============================================================================
- 12 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew Sandler
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
4,118,522 shares 24.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,836,522 shares 20.6%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,836,522 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 20.6%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
===============================================================================
- 13 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
20,000 shares 0.3%
-------------------------------------------------------------------
8 Shared Voting Power
7,907,826 shares 44.3%
-------------------------------------------------------------------
9 Sole Dispositive Power
20,000 shares 0.1%
-------------------------------------------------------------------
10 Shared Dispositive Power
3,343,826 shares 32.8%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
3,363,826 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 33.0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 14 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
===============================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
- -------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- -------------------------------------------------------------------------------
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
- -------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
42,000 shares 0.5%
-------------------------------------------------------------------
8 Shared Voting Power
7,907,826 shares 44.3%
-------------------------------------------------------------------
9 Sole Dispositive Power
42,000 shares 0.3%
-------------------------------------------------------------------
10 Shared Dispositive Power
3,343,826 shares 32.8%
- -------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
3,385,826 shares
- -------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 33.1%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 15 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Partners
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required o Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
282,560 shares 1.8%
--------------------------------------------------------------------
8 Shared Voting Power
1,430,903 shares 9.1%
-------------------------------------------------------------------
9 Sole Dispositive Power
100,000 shares 1.3%
-------------------------------------------------------------------
10 Shared Dispositive Power
974,503 shares 12.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,074,503 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
================================================================================
- 16 of 40 -
<PAGE>
CUSIP
No. 981363104 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Applewood Associates, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
3,789,304 shares 22.8%
--------------------------------------------------------------------
8 Shared Voting Power
0 shares 0%
--------------------------------------------------------------------
9 Sole Dispositive Power
1,507,304 shares 16.9%
--------------------------------------------------------------------
10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,507,304 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
================================================================================
- 17 of 40 -
<PAGE>
CUSIP
No. 981363104 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Applewood Capital Corp.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required //
Pursuant to Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
--------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
--------------------------------------------------------------------
8 Shared Voting Power
3,789,304 shares 22.8%
--------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------------------
10 Shared Dispositive Power
1,507,304 shares 16.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,507,304 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
CO
================================================================================
- 18 of 40 -
<PAGE>
CUSIP
No. 981363104 13D
================================================================================
1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person
Seth Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
3,789,304 shares 22.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,507,304 shares 16.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,507,304 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 19 of 40 -
<PAGE>
CUSIP
No. 981363104 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jonathan Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
3,789,304 shares 22.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
1,507,304 shares 16.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,507,304 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 20 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions) OO
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
1,713,463 shares 10.8%
------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
------------------------------------------------------------------
10 Shared Dispositive Power
1,074,503 shares 13.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
` 1,074,503 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 21 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Marilyn and Barry Rubenstein Family Foundation
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
123,237 shares 0.8%
-------------------------------------------------------------------
8 Shared Voting Power
1,590,226 shares 10.0%
-------------------------------------------------------------------
9 Sole Dispositive Power
123,237 shares 1.6%
-------------------------------------------------------------------
10 Shared Dispositive Power
951,266 shares 11.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,074,503 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
================================================================================
- 22 of 40 -
<PAGE>
CUSIP
No. 293636106 13D
================================================================================
1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person
Brian Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) //
(b) //
- -------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required o Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned By Each Reporting Person With
-------------------------------------------------------------------
7 Sole Voting Power
0 shares 0%
-------------------------------------------------------------------
8 Shared Voting Power
123,237 shares 0.8%
-------------------------------------------------------------------
9 Sole Dispositive Power
0 shares 0%
-------------------------------------------------------------------
10 Shared Dispositive Power
123,237 shares 1.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
123,237 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares //
(See Instructions)
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 1.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
================================================================================
- 23 of 40 -
<PAGE>
This statement, dated June 17, 1997, constitutes Amendment No. 4 to the
Schedule 13D, dated September 11, 1995, regarding the reporting persons
ownership of certain securities of Enteractive, 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. 4 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 1. SECURITY AND ISSUER
(f) Option ("Revwood Option") to purchase 400,000 shares of Common Stock,
expiring on November 4,1999, entitling the holder thereof to purchase the shares
of Common Stock at $2.375 per share, exercisable on August 15, 1997, issued to
Revwood General Partners ("Revwood").
ITEM 3. SOURCE AND AMOUNTS OF FUNDS OR OTHER CONSIDERATION
On November 12, 1996, the Board of Directors of the Issuer granted the
Revwood Option to Revwood in consideration of certain consulting services
provided by Revwood to the Issuer.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(a) The following list sets forth the aggregate number and percentage
(based on 7,679,441 shares of Common Stock outstanding as reported in the
Issuer's Prospectus dated April 11, 1997) of outstanding shares of Common Stock
owned beneficially by each reporting person named in Item 2, as of June 17,
1997:
- 24 of 40 -
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned1 Percent Of Voting Control Beneficially Owned
---- ------------------- ------------------------- ------------------
<S> <C> <C> <C>
Barry Rubenstein 4,818,329 2, 3, 4, 5 53.3% 44.0%
Woodland Venture Fund 1,074,503 2 10.8% 13.0%
Seneca Ventures 1,074,503 2 10.8% 13.0%
Woodland Services Corp. 1,074,503 2 10.8% 13.0%
21st Century 1,836,522 2, 6 24.8% 20.6%
Communications
Partners, L.P.
21st Century 1,836,522 2, 7 24.8% 20.6%
Communications T-E
Partners, L.P.
</TABLE>
- --------
1 Includes shares of Common Stock issuable upon the exercise of the Warrants,
the 1996 Warrants and the Revwood Option.
2 The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her/its equity interest therein.
3 Includes 400,000 shares of Common Stock issuable upon the exercise of the
Revwood Warrant.
4 Includes 257,304 shares of Common Stock and 1,250,000 shares of Common
Stock issuable upon the exercise of the 1996 Warrants owned by Applewood.
5 Includes 586,522 shares of Common Stock and 1,250,000 shares of Common
Stock issuable upon the exercise of the 1996 Warrants owned in the
aggregate by 21st Century, T-E and Foreign.
6 Includes 398,490 shares of Common Stock and 847,500 shares of Common Stock
issuable upon the exercise of the 1996 Warrants. 21st Century disclaims
beneficial ownership of 139,136 shares of Common Stock and 288,500 shares
of Common Stock issuable upon the exercise of the 1996 Warrants owned by
T-E and 48,896 shares of Common Stock and 114,000 shares of Common Stock
issuable upon the exercise of the 1996 Warrants owned by Foreign.
7 Includes 139,986 shares of Common Stock and 288,500 shares of Common Stock
issuable upon the exercise of the 1996 Warrants. T-E disclaims beneficial
ownership of 398,490 shares of Common Stock and 847,500 shares of Common
Stock issuable upon the exercise of the 1996 Warrants owned by 21st Century
and 48,896 hares of Common Stock and 114,000 shares of Common Stock
issuable upon the exercise of the 1996 Warrants owned by Foreign.
- 25 of 40 -
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned1 Percent Of Voting Control Beneficially Owned
---- ------------------- ------------------------- ------------------
<S> <C> <C> <C>
21st Century 1,836,522 2, 8 24.8% 20.6%
Communications
Foreign Partners, L.P.
Michael Marocco 1,836,522 2, 5 24.8% 20.6%
Barry Lewis 1,836,522 2, 5 24.8% 20.6%
John Kornreich 1,836,522 2, 5 24.8% 20.6%
Harvey Sandler 1,836,522 2, 5 24.8% 20.6%
Andrew Sandler 1,836,522 2, 5 24.8% 20.6%
Barry Fingerhut 3,363,826 2, 4, 5 44.4% 33.0%
Irwin Lieber 3,385,826 2, 4, 5 44.5% 33.1%
Woodland Partners 1,074,503 2 10.8% 13.0%
Applewood Associates, 1,507,304 22.8% 16.9%
L.P.
Applewood Capital Corp. 1,507,304 2, 4 22.8% 16.9%
Seth Lieber 1,507,304 2, 4 22.8% 16.9%
Jonathan Lieber 1,507,304 2, 4 22.8% 16.9%
Marilyn Rubenstein 1,074,503 2 10.8% 13.0%
The Marilyn and Barry 1,074,503 2 10.8% 13.0%
Rubenstein Family
Foundation
Brian Rubenstein 123,237 2 0.8% 1.6%
</TABLE>
(b) Barry Rubenstein has sole power to vote and dispose of 332,500 shares
of Common Stock (including 125,000 shares issuable upon the exercise of the
Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and
10,000 shares issuable upon the exercise of the
- --------
8 Includes 48,896 shares of Common Stock and 114,000 shares of Common Stock
issuable upon the exercise of the 1996 Warrants. Foreign disclaims
beneficial ownership of 398,490 shares of Common Stock and 847,500 shares
of Common Stock issuable upon the exercise of the 1996 Warrants owned by
21st Century and 139,986 shares of Common Stock and 288,500 shares of
Common Stock issuable upon the exercise of the 1996 Warrants owned by T-E.
- 26 of 40 -
<PAGE>
Warrants), representing approximately 2.1% and 4.2%, respectively, of the
outstanding Common Stock. By virtue of being a shareholder, officer and director
of InfoMedia, a Trustee of the Foundation and a general partner of Applewood,
Seneca, the Fund, Woodland Partners and Revwood, Barry Rubenstein may be deemed
to have shared power to vote 9,688,789 (including 5,202,960 voting rights from
the Preferred Stock, 2,850,000 shares issuable upon the exercise of the 1996
Warrants, 20,000 shares issuable upon the exercise of the Warrants, and 400,000
shares issuable upon the exercise of the Revwood Warrant), and may be deemed to
have shared power to dispose of 4,485,829 shares of Common stock (including
2,850,000 shares issuable upon the exercise of the 1996 Warrants, 20,000 shares
issuable upon the exercise of the Warrants, and 400,000 shares issuable upon the
exercise of the Revwood Warrant), representing approximately 41.0% of the
outstanding Common Stock.
The Fund has sole power to vote 584,684 shares of Common Stock,
representing approximately 3.8% of the outstanding Common Stock (including
273,840 voting rights from the Preferred Stock and 150,000 shares issuable upon
the exercise of the 1996 Warrants), and may be deemed to have shared power to
vote 1,128,779 shares of Common Stock (including 365,120 voting rights from the
Preferred Stock, 200,000 shares issuable upon the exercise of the 1996 Warrants,
125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000
shares issuable upon the exercise of the Option and 30,000 shares issuable upon
the exercise of the Warrants), representing approximately 7.2% of the
outstanding Common Stock. The Fund has the sole power to dispose of 310,844
shares of Common Stock (including 150,000 shares issuable upon the exercise of
the 1996 Warrants , 125,000 shares issuable upon the exercise of the
Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and
30,000 shares issuable upon the exercise of the Warrants), representing
approximately 4.0% of the outstanding Common Stock and shared power to dispose
of 763,659 shares of Common Stock (including 200,000 shares issuable upon the
exercise of the 1996 Warrants , 125,000 shares issuable upon the exercise of the
Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and
30,000 shares issuable upon the exercise of the Warrants), representing
approximately 9.4% of the outstanding Common Stock.
Seneca has sole power to vote 390,482 shares of Common Stock, representing
approximately 2.5% of the outstanding Common Stock (including 182,560 voting
rights from the Preferred Stock and 100,000 shares issuable upon the exercise of
the 1996 Warrants), and may be deemed to have shared power to vote 1,322,981
shares of Common Stock (including 456,400 voting rights from the Preferred
Stock, 250,000 shares issuable upon the exercise of the 1996 Warrants , 125,000
shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares
issuable upon the exercise of the Option and 30,000 shares issuable upon the
exercise of the Warrants), representing approximately 8.4% of the outstanding
Common Stock. Seneca has the sole power to dispose of 207,922 shares of Common
Stock (including 100,000 shares issuable upon the exercise of the 1996
Warrants), representing approximately 2.7% of the outstanding Common Stock and
shared power to dispose of 866,581 shares of Common Stock (including 250,000
shares issuable upon the exercise of the 1996 Warrants, 125,000 shares issuable
- 27 of 40 -
<PAGE>
upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the
exercise of the Option and 30,000 shares issuable upon the exercise of the
Warrants), representing approximately 10.7% of the outstanding Common Stock.
Woodland Services Corp. has shared power to vote 1,713,463 shares of Common
Stock (including 638,960 voting rights from the Preferred Stock and 350,000
shares issuable upon the exercise of the 1996 Warrants , 125,000 shares issuable
upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the
exercise of the Option and 30,000 shares issuable upon the exercise of the
Warrants), representing approximately 10.8% of the outstanding Common Stock, and
may be deemed to have shared power to dispose of 1,074,503 shares of Common
Stock (including 350,000 shares issuable upon the exercise of the 1996 Warrants,
125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000
shares issuable upon the exercise of the Option and 30,000 shares issuable upon
the exercise of the Warrants), representing approximately 13% of the outstanding
Common Stock.
21st Century has sole power to vote 2,793,186 shares of Common Stock
(including 1,547,196 voting rights from the Preferred Stock and 847,500 shares
issuable upon exercise of the 1996 Warrants, 125,000 shares issuable upon the
exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise
of the Option and 30,000 shares issuable upon the exercise of the Warrants)
representing approximately 17.2% of the outstanding Common Stock. 21st Century
has sole power to dispose of 1,245,990 shares of Common Stock (including 847,500
shares issuable upon exercise of the 1996 Warrants), representing approximately
14.6% of the outstanding shares of Common Stock. 21st Century may be deemed to
have shared power to vote 1,325,336 shares of Common Stock (including 734,804
voting rights from the Preferred Stock, and 402,500 shares issuable upon
exercise of the 1996 Warrants) and may be deemed to have shared power to dispose
of 590,532 shares of Common Stock (including 402,500 shares issuable upon
exercise of the 1996 Warrants), representing approximately 7.3% of the
outstanding Common Stock.
T-E has sole power to vote 954,322 shares of Common Stock (including
526,686 voting rights from the Preferred Stock and 288,500 shares issuable upon
exercise of the 1996 Warrants), representing approximately 6.1% of the
outstanding Common Stock and may be deemed to have shared power to vote
3,164,200 shares of Common Stock (including 1,755,314 voting rights from the
Preferred Stock, and 961,500 shares issuable upon exercise of the 1996
Warrants), representing approximately 19.4% of the outstanding Common Stock. T-E
has sole power to dispose of 427,636 shares of Common Stock (including 288,500
shares issuable upon exercise of the 1996 Warrants), representing approximately
5.4% of the outstanding Common Stock and may be deemed to have shared power to
dispose of 1,408,886 shares of Common Stock (including 961,500 shares issuable
upon exercise of the 1996 Warrants), representing approximately 16.3% of the
outstanding Common Stock.
Foreign has sole power to vote 371,014 shares of Common Stock (including
208,118 voting rights from the Preferred Stock and 114,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 2.4% of the
outstanding Common Stock. Foreign may be deemed to
- 28 of 40 -
<PAGE>
have shared power to vote 3,747,508 shares of Common Stock (including 2,073,882
voting rights from the Preferred Stock and 1,136,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 22.7% of the
outstanding Common stock. Foreign has sole power to dispose of 162,896 shares of
Common Stock (including 114,000 shares of Common Stock issuable upon exercise of
the 1996 Warrants) representing approximately 2.1% of the outstanding Common
Stock and may be deemed to have shared power to dispose of 1,673,626 shares of
Common Stock (including 1,136,000 shares issuable upon exercise of the 1996
Warrants), representing approximately 19.0% of the outstanding Common Stock.
By virtue of being the sole shareholder, officer and director of MJM Media
Corp., Michael J. Marocco may be deemed to have shared power to vote 4,118,522
shares of Common Stock, representing approximately 24.8% of the outstanding
Common Stock (including 2,282,000 voting rights from the Preferred Stock and
1,250,000 shares issuable upon the exercise of the 1996 Warrants), and may be
deemed to have shared power to dispose of 1,836,522 shares of Common Stock
(including 1,250,000 shares issuable upon the exercise of the 1996 Warrants),
representing approximately 20.6% of the outstanding Common Stock.
By virtue of being the majority shareholder and director of EMEBE, Barry
Lewis may be deemed to have shared power to vote 4,118,522 shares of Common
Stock, representing approximately 24.8% of the outstanding Common Stock
(including 2,282,000 voting rights from the Preferred Stock and 1,250,000 shares
issuable upon the exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,836,522 shares of Common Stock (including 1,250,000
shares issuable upon the exercise of the 1996 Warrants), representing
approximately 20.6% of the outstanding Common Stock.
By virtue of being the majority shareholder and director of Four JK Corp.,
John Kornreich may be deemed to have shared power to vote 4,118,522 shares of
Common Stock, representing approximately 24.8% of the outstanding Common Stock
(including 2,282,000 voting rights from the Preferred Stock and 1,250,000 shares
issuable upon the exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,836,522 shares of Common Stock (including 1,250,000
shares issuable upon the exercise of the 1996 Warrants), representing
approximately 20.6% of the outstanding Common Stock.
By virtue of being the sole shareholder of ARH Corp., Harvey Sandler may be
deemed to have shared power to vote 4,118,522 shares of Common Stock,
representing approximately 24.8% of the outstanding Common Stock (including
2,282,000 voting rights from the Preferred Stock and 1,250,000 shares issuable
upon the exercise of the 1996 Warrants), and may be deemed to have shared power
to dispose of 1,836,522 shares of Common Stock (including 1,250,000 shares
issuable upon the exercise of the 1996 Warrants), representing approximately
20.6% of the outstanding Common Stock.
- 29 of 40 -
<PAGE>
By virtue of being a manager and majority member of ALSI, LLC, Andrew
Sandler may be deemed to have shared power to vote 4,118,522 shares of Common
Stock, representing approximately 24.8% of the outstanding Common Stock
(including 2,282,000 voting rights from the Preferred Stock and 1,250,000 shares
issuable upon the exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,836,522 shares of Common Stock (including 1,250,000
shares issuable upon the exercise of the 1996 Warrants), representing
approximately 20.6% of the outstanding Common Stock.
Barry Fingerhut has sole power to vote and dispose of 20,000 shares of
Common Stock (representing 20,000 shares issuable upon the exercise of the
Warrants), representing approximately 0.1% of the outstanding Common Stock. By
virtue of being a shareholder, officer and director of InfoMedia and a general
partner of Applewood, Barry Fingerhut may be deemed to have shared power to vote
7,907,826 shares of Common Stock (including 4,564,000 voting rights from
Preferred Stock, and 2,500,000 shares issuable upon the exercise of the 1996
Warrants), representing approximately 44.3% of the outstanding Common Stock, and
may be deemed to have shared power to dispose of 3,343,826 shares of Common
Stock (including 2,500,000 shares issuable upon the exercise of the 1996
Warrants), representing approximately 32.8% of the outstanding Common Stock.
Irwin Lieber has sole power to vote and dispose of 42,000 shares of Common
Stock (including 37,000 shares issuable upon the exercise of the Warrants),
representing approximately 0.3% of the outstanding Common Stock. By virtue of
being a shareholder, officer and director of InfoMedia and a general partner of
Applewood, Irwin Lieber may be deemed to have shared power to vote 7,907,826
shares of Common Stock (including 4,564,000 voting rights from Preferred Stock,
and 2,500,000 shares issuable upon the exercise of the 1996 Warrants),
representing approximately 44.3% of the outstanding Common Stock, and may be
deemed to have shared power to dispose of 3,343,826 shares of Common Stock
(including 2,500,000 shares issuable upon the exercise of the 1996 Warrants),
representing approximately 32.8% of the outstanding Common Stock.
Applewood has sole power to vote 3,789,304 shares of Common Stock
(representing 2,282,000 voting rights from the Preferred Stock, and 1,250,000
shares of Common Stock issuable upon exercise of the 1996 Warrants),
representing approximately 22.8% of the outstanding Common Stock and has sole
power to dispose of 1,507,304 shares of Common Stock (including 1,250,000 shares
issuable upon exercise of the 1996 Warrants), representing approximately 16.9%
of the outstanding Common Stock.
AC Corp. may be deemed to have shared power to vote 3,789,304 shares of
Common Stock (including 2,282,000 voting rights from the Preferred Stock and
1,250,000 shares issuable upon exercise of the 1996 Warrants), representing
approximately 22.8% of the outstanding Common Stock), and may be deemed to have
shared power to dispose of 1,507,304 shares of Common Stock (including 1,250,000
shares issuable upon exercise of the 1996 Warrants), representing approximately
16.9% of the outstanding Common Stock.
- 30 of 40 -
<PAGE>
By virtue of being an officer of AC Corp., Seth Lieber may be deemed to
have shared power to vote 3,789,304 shares of Common Stock (including 2,282,000
voting rights from the Preferred Stock, and 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 22.8% of the
outstanding Common Stock and may be deemed to have shared power to dispose of
1,507,304 shares of Common Stock (including 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 16.9% of the
outstanding Common Stock.
By virtue of being an officer of AC Corp., Jonathan Lieber may be deemed to
have shared power to vote 3,789,304 shares of Common Stock (including 2,282,000
voting rights from the Preferred Stock, and 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 22.8% of the
outstanding Common Stock and may be deemed to have shared power to dispose of
1,507,304 shares of Common Stock (including 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 16.9% of the
outstanding Common Stock.
Woodland Partners has sole power to vote 282,560 shares of Common Stock,
representing approximately 1.8% of the outstanding Common Stock (including
182,560 voting rights from the Preferred Stock, and 100,000 shares issuable upon
exercise of the 1996 Warrants), and may be deemed to have shared power to vote
1,430,903 shares of Common Stock (including 456,400 voting rights from the
Preferred Stock, 250,000 shares issuable upon exercise of the 1996 Warrants,
125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000
shares issuable upon the exercise of the Option and 30,000 shares issuable upon
the exercise of the Warrants), representing approximately 9.1% of the
outstanding Common Stock. Woodland Partners has sole power to dispose of 100,000
shares of Common Stock (representing 100,000 shares issuable upon exercise of
the 1996 Warrants), representing approximately 1.3% of the outstanding Common
Stock, and may be deemed to have shared power to dispose of 974,503 shares of
Common Stock (including 250,000 shares issuable upon exercise of the 1996
warrants, 125,000 shares issuable upon the exercise of the Non-Qualified Option,
50,000 shares issuable upon the exercise of the Option and 30,000 shares
issuable upon the exercise of the Warrants) representing approximately 12.0% of
the outstanding Common Stock.
By virtue of being a general partner of Woodland partners, a Trustee of the
Foundation, and the wife of Barry Rubenstein, Marilyn Rubenstein may be deemed
to have shared power to vote 1,713,463 shares of Common stock (including 638,960
voting rights from the Preferred Stock, and 350,000 shares issuable upon
exercise of the 1996 Warrants, 125,000 shares issuable upon the exercise of the
Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and
30,000 shares issuable upon the exercise of the Warrants), representing
approximately 10.8% of the outstanding Common Stock), and may be deemed to have
shared power to dispose of 1,074,503 shares of Common Stock (including 350,000
shares issuable upon exercise of the 1996 Warrants, 125,000 shares issuable upon
the exercise of the Non-Qualified Option, 50,000 shares issuable upon the
exercise of the Option and 30,000 shares issuable upon the exercise of the
Warrants), representing approximately 13.0% of the outstanding Common Stock.
- 31 of 40 -
<PAGE>
The Foundation has sole power to vote 123,237 shares of Common Stock
(including 20,000 shares issuable upon the exercise of the Warrants),
representing approximately 0.8% of the outstanding Common Stock, and may be
deemed to have shared power to vote 1,590,226 shares of Common Stock (including
638,960 voting rights from the Preferred Stock, 350,000 shares issuable upon the
exercise of the 1996 Warrants, 125,000 shares issuable upon the exercise of the
Non- Qualified Option, 50,000 shares issuable upon the exercise of the Option
and 10,000 shares issuable upon the exercise of the Warrants), representing
approximately 10% of the outstanding Common Stock. The Foundation has sole power
to dispose of 123,237 shares of common stock (including 20,000 shares of Common
Stock issuable upon the exercise of the Warrants), representing approximately
1.6% of the outstanding Common Stock, and may be deemed to have shared power to
dispose of 951,266 shares of Common stock (including 350,000 shares issuable
upon the exercise of the 1996 Warrants, 125,000 shares issuable upon the
exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise
of the Option and 10,000 shares issuable upon the exercise of the Warrants),
representing approximately 11.6% of the outstanding Common Stock.
By virtue of being a Trustee of the Foundation, Brian Rubenstein may be
deemed to have shared power to vote 123,237 shares of Common Stock (including
20,000 shares issuable upon the exercise of the Warrants), representing 0.8% of
the outstanding shares of Common stock and may be deemed to have shared power to
dispose of 123,237 shares of Common stock (including 20,000 shares issuable upon
the exercise of the Warrants), representing 1.6% of the outstanding Common
Stock.
(c) There were no transactions in any of the securities of the Issuer
by the persons identified in Item 2 of this Schedule 13D effected from April 18,
1997 through June 17, 1997, inclusive.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit C - Option Agreement, dated November 12, 1996, between the
Issuer and Revwood General Partners.
- 32 of 40 -
<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: June 26, 1997
SENECA VENTURES
/s/BARRY RUBENSTEIN
----------------------
Barry Rubenstein,
A General Partner
WOODLAND VENTURE FUND
/s/ BARRY RUBENSTEIN
----------------------
Barry Rubenstein,
A General Partner
WOODLAND SERVICES CORP.
/s/ S/BARRY RUBENSTEIN
----------------------
Barry Rubenstein,
President
WOODLAND PARTNERS
/s/ BARRY RUBENSTEIN
----------------------
Barry Rubenstein,
A General Partner
APPLEWOOD ASSOCIATES, L.P.
/s/ IRWIN LIEBER
----------------------
Irwin Lieber,
A General Partner
APPLEWOOD CAPITAL CORP.
/s/ BARRY RUBENSTEIN
----------------------
Barry Rubenstein,
President
- 33 of 40 -
<PAGE>
/s/ BARRY RUBENSTEIN
----------------------
Barry Rubenstein
/s/ BARRY FINGERHUT
----------------------
Barry Fingerhut
/s/ IRWIN LIEBER
----------------------
Irwin Lieber
/s/ JONATHAN LIEBER
----------------------
Jonathan Lieber
/s/ SETH LIEBER
----------------------
Seth Lieber
/s/ MARILYN RUBENSTEIN
----------------------
Marilyn Rubenstein
THE MARILYN AND BARRY
RUBENSTEIN FAMILY
FOUNDATION
By: /s/ BARRY RUBENSTEIN
---------------------------
Barry Rubenstein, a Trustee
*
----------------------------
Brian Rubenstein
* By: /s/ BARRY RUBENSTEIN
--------------------
Barry Rubenstein
Attorney-in-Fact
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<PAGE>
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: /s/ ANDREW SANDLER
---------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS T-E PARTNERS,
L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: /s/ ANDREW SANDLER
---------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS FOREIGN
PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: /s/ ANDREW SANDLER
---------------------------
Name:
Title:
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/s/ MICHAEL J. MAROCCO
----------------------------
Michael J. Marocco
/s/ BARRY LEWIS
----------------------------
Barry Lewis
/s/ JOHN KORNREICH
----------------------------
John Kornreich
/s/ HARVEY SANDLER
----------------------------
Harvey Sandler
/s/ ANDREW SANDLER
----------------------------
Andrew Sandler
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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Exhibit C
ENTERACTIVE, INC.
110 West 40th Street
New York, New York 10018
Revwood General Partners
c/o Mr. Eli Oxenhorn
56 The Intervale
Roslyn Estates
Roslyn, NY 11576
Gentlemen:
In connection with certain services you are performing on behalf of
Enteractive, Inc. (the "Company") we are pleased to inform you that effective
November 4, 1996 the Board of Directors of the Company granted you an option to
purchase 400,000 shares (the "Shares") of Common Stock, par value $.01 per
share, of the Company, at a price of $2.375 per Share.
No part of the option is currently exercisable. The option may be exercised
at any time on or after August 15, 1997. You must purchase a minimum of 50
Shares or more (but not fractional shares) each time you choose to purchase
Shares, except to purchase the remaining Shares available to you. The option
will expire, to the extent it is not previously exercised, on November 4, 1999.
In the case of any reclassification of the Common Stock or any
reorganization, consolidation or merger of the Company with or into another
corporation (other than a merger or reorganization with respect to which the
Company is the continuing corporation and which does to result in any
reclassification of the Common Stock), the Board of Directors shall make an
appropriate and equitable adjustment in the number and kind of Shares reserved
for issuance under the option and in the number and kind of Shares reserved for
issuance under the option and in the number and option price of shares subject
to the outstanding option granted, to the end that after such event your
proportionate interest shall be maintained as immediately before the occurrence
of such event.
The granting and exercise of the option granted hereunder, and the
obligation of the Company to sell and deliver Shares under such option, shall be
subject to all applicable laws, rules and regulations, and to such approvals by
any governmental agencies or national securities as may be required.
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All certificates for Shares delivered pursuant to the option granted
hereunder shall be subject to such stock transfer orders and other restrictions
as the Board of Directors may deem advisable under the rules, regulations, and
other requirements of the Securities and Exchange Commission, any stock exchange
upon which the Shares are then listed, and any applicable Federal or state
securities law, and the Board of Directors may cause a legend or legends to be
placed on any such certificates to make appropriate reference to such
restrictions.
Unless at the time of the exercise of this option a registration statement
under the Securities act of 1933, as amended (the "Act"), is in effect as to
such Shares, any Shares purchased by you upon the exercise of this option shall
be acquired for investment and not for sale or distribution, and if the Company
so requests, upon any exercise of this option, in whole or in part, you will
execute and deliver to the Company a certificate to such effect. The Company
shall not be obligated to issue any Shares pursuant to this option if, in the
opinion of counsel to the Company, the Shares to be so issued are required to be
registered or otherwise qualified under the Act or under any other applicable
statute, regulation or ordinance affecting the sale of securities, unless and
until such Shares have been so registered or otherwise qualified.
You understand and acknowledge that, under existing law, unless at the time
of the exercise of this option a registration statement under the Act is in
effect as to such Shares (i) any Shares purchased by you upon exercise of this
option may be required to be held indefinitely unless such Shares are
subsequently registered under the Act or an exemption from such registration is
available; (ii) any sales of such Shares made in reliance upon rule 144
promulgated under the Act may be made only in accordance with the terms and
conditions of that Rule (which, under certain circumstances, restrict the number
of shares which may be sold and the manner in which shares may be sold); (iii)
in the case of securities to which Rule 144 is not applicable, compliance with
Regulations A promulgated under the act or some other disclosure exemption will
be required; (iv) certificates for Shares to be issued to you hereunder shall
bear a legend to the effect that the Shares have not been registered under the
Act and that the Shares may not be sold, hypothecated or otherwise transferred
in the absence of an effective registration statement under the Act relating
thereto or an opinion of counsel satisfactory to the Company that such
registration is not required; (v) the Company will place an appropriate "stop
transfer" order with its transfer agent with respect to such Shares; and (vi)
the Company has undertaken no obligation to register the Shares or to include
the Shares in any registration statement which may be filed by it subsequent to
the issuance of the shares to you. In addition, you understand and acknowledge
that the Company has no obligation to you to furnish information necessary to
enable you to make sales under Rule 144.
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No member of the Board of Directors, or any officer or employee of the
Company acting on behalf of the Board, shall be personally liable for any
action, determination, or personally liable for any action, determination, or
interpretation taken or make in good faith with respect to the option granted
hereunder, and all members of the Board and each and any officer or employee of
the Company acting on their behalf shall, to the extent permitted by law, be
fully indemnified and protected by the Company in respect of any such action,
determination or interpretation.
This option (or installment thereof) is to be exercised by delivering to
the Company a written notice of exercise in the form attached hereto as Exhibit
A, specifying the number of Shares to be purchased, together with payment of the
purchase price of the Shares to be purchased. The purchase price is to be paid
in cash or, at the discretion of the Board of Directors, by delivering shares of
the Company's stock already owned by you and having a fair market value on the
date of exercise equal to the exercise price of the option, or a combination of
such shares and cash.
Would you kindly evidence your acceptance of this option and your agreement
to comply with the provisions hereof by executing this letter under the words
"Agreed To and Accepted."
Very truly yours,
ENTERACTIVE, INC.
By: /s/ ANDRES GYENES
-----------------------
Andrew Gyenes, Chairman of the
Board and Chief Executive Officer
AGREED TO AND ACCEPTED:
REVWOOD GENERAL PARTNERS
By: /s/ ELI OXENHORN
-----------------------
Eli Oxenhorn
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Exhibit A
Enteractive, Inc.
110 West 40th Street
New York, New York 10018
Gentlemen:
Notice is hereby given of my election to purchase _________ shares of
Common Stock, $.01 par value (the "Shares"), of Enteractive, Inc. at a price of
$2.375 per Share, pursuant to he provisions of the option granted to me
effective on November 4, 1996. Enclosed in payment for the Shares is:
/ / my check in the amount of $_________.
*/ / _________ Shares having
a total value
$_______, such value being based on the
closing price(s) of the Shares on the date
hereof.
The following information is supplied for use in issuing and registering
the Shares purchased hereby:
Number of Certificates
and Denominations ____________________
Name ____________________
Address ____________________
____________________
____________________
Social Security Number ____________________
Dated: ____________, 19__
Very truly yours,
_____________________
*Subject to the approval of the Board of Directors
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