SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
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)
December 12, 1996
- --------------------------------------------------------------------------------
(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 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 232,500 shares 1.6%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 8,156,410 shares 47.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
232,500 shares 3.0%
--------------------------------------------------------
10 Shared Dispositive Power
3,632,592 shares 34.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,865,092 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
36.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-2 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 548,939 shares 3.8%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 877,882 shares 6.0%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
310,844 shares 4.0%
--------------------------------------------------------
10 Shared Dispositive Power
560,422 shares 6.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-3 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 366,652 shares 2.5%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,060,169 shares 7.2%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
207,922 shares 2.7%
--------------------------------------------------------
10 Shared Dispositive Power
663,344 shares 8.2%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-4 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,426,821 shares 9.6%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
871,266 shares 10.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-5 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 2,472,573 shares 16.3%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,173,076 shares 8.0%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
1,127,335 shares 13.2%
--------------------------------------------------------
10 Shared Dispositive Power
534,187 shares 6.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-6 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 845,202 shares 5.8%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 2,800,447 shares 18.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
387,265 shares 4.9%
--------------------------------------------------------
10 Shared Dispositive Power
1,274,257 shares 14.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-7 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 327,874 shares 2.3%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,317,775 shares 21.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
146,922 shares 1.9%
--------------------------------------------------------
10 Shared Dispositive Power
1,514,600 shares 17.2%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-8 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,645,649 shares 23.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,661,522 shares 18.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-9 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,645,649 shares 23.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,661,522 shares 18.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-10 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,645,649 shares 23.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,661,522 shares 18.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-11 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,645,649 shares 23.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,661,522 shares 18.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-12 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,645,649 shares 23.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,661,522 shares 18.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,661,522 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
18.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-13 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 20,000 shares 0.1%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 6,962,080 shares 41.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
20,000 shares 0.3%
--------------------------------------------------------
10 Shared Dispositive Power
2,993,826 shares 29.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,013,826 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
29.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-14 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 42,000 shares 0.3%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 6,962,080 shares 41.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
42,000 shares 0.5%
--------------------------------------------------------
10 Shared Dispositive Power
2,993,826 shares 29.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,035,826 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
29.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-15 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 258,730 shares 1.8%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,168,091 shares 7.9%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
100,000 shares 1.3%
--------------------------------------------------------
10 Shared Dispositive Power
771,266 shares 9.5%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-16 of 39-
<PAGE>
CUSIP No. 293636106 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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 3,316,431 shares 21.3%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0 shares 0%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
1,332,304 shares 14.9%
--------------------------------------------------------
10 Shared Dispositive Power
0 shares 0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,332,304 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
14.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-17 of 39-
<PAGE>
CUSIP No. 293636106 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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,316,431 shares 21.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,332,304 shares 14.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,332,304 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
14.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-18 of 39-
<PAGE>
CUSIP No. 293636106 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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,316,431 shares 21.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,332,304 shares 14.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,332,304 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
14.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-19 of 39-
<PAGE>
CUSIP No. 293636106 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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
WC
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 3,316,431 shares 21.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
1,332,304 shares 14.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,332,304 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
14.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-20 of 39-
<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
PF, WC, OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,426,821 shares 9.6%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
871,266 shares 10.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 20,000 shares 0.1%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,406,821 shares 9.5%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
20,000 shares 0.3%
--------------------------------------------------------
10 Shared Dispositive Power
851,266 shares 10.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
871,266 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
10.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<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* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required |_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 20,000 shares 0.1%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
20,000 shares 0.3%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
20,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0.3%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
This statement, dated December 12, 1996, constitutes Amendment No. 2 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. 2 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended, by the reporting
persons. It shall refer only to information which has materially changed since
the filing of the Schedule.
ITEM 1. Security and Issuer
(a) Units, each consisting of 80 shares of $.01 par value Class A
Convertible Preferred Stock (the "Preferred Stock") and 50,000 Redeemable Common
Stock Purchase Warrants ("1996 Warrants"). The holders of the Preferred Stock
shall be entitled to convert anytime after April 30, 1998 each share of
Preferred Stock into a whole number of shares of Common Stock equal to the
aggregate Stated Value of the Preferred Stock to be converted divided by the
lesser of (i) $2.00 or (ii) 50% of the average closing sale price for the Common
Stock for the last ten trading days in the fiscal quarter of the Company prior
to such conversion (the "Conversion")(1). The holders of the 1996 Warrants shall
be entitled to purchase one share of Common Stock at $4.00 per share for each
1996 Warrant, exercisable from December 13, 1996 until December 13, 2001.
ITEM 2. Identity and Background
1. (a) Barry Rubenstein, a general partner of Seneca Ventures, Woodland
Venture Fund, Woodland Partners and Applewood Associates, L.P. ("Applewood"),
President and a director of InfoMedia Associates, Ltd. ("InfoMedia"), President,
sole director and sole shareholder of Woodland Services Corp., an officer and
director of Applewood Capital Corp. ("AC Corp."), and a Trustee of the
Foundation.
2. (a) Woodland Partners, a general partnership organized under the
laws of the State of New York ("Woodland Partners").
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments.
(d) No.
(e) No.
Barry Rubenstein and Marilyn Rubenstein are the general
partners of Woodland Partners.
- ----------
(1) For purposes of calculating the number of voting rights for the Preferred
Stock, the Stated Value of the Preferred Stock was divided by $1.26, or
50% of the average closing sale price for the Common Stock for the last
ten trading days in the fiscal quarter prior to December 12, 1996.
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<PAGE>
15. (a) Applewood Associates, L.P. is a New York limited partnership
("Applewood") principally engaged in the business of making investments.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
(d) No
(e) No
The general partners of Applewood are AC Corp., Barry Rubenstein, Irwin
Lieber and Barry Fingerhut.
16. (a) Applewood Capital Corp. is a New York corporation
("AC Corp."), which is a general partner of Applewood.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
(d) No
(e) No
17. (a) Seth Lieber is an officer of AC Corp.
(b) Address: 767 Fifth Avenue
New York, New York 10153
(c) Principal Business: Investments
(d) No
(e) No
(f) United States
18. (a) Jonathan Lieber is an officer of AC Corp.
(b) Business Address: 767 Fifth Avenue
New York, New York 10153
(c) Principal Business: Investments
(d) No
(e) No
(f) United States
19. (a) Marilyn Rubenstein, is a general partner of Woodland Partners,
a Trustee of the Foundation, and the wife of Barry Rubenstein.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Housewife.
(d) No
(e) No
(f) United States.
20. (a) The Marilyn and Barry Rubenstein Family Foundation, an
organization which is exempt from Federal Income Taxation pursuant to Section
501(a) of the Internal Revenue Code of 1986, as amended (the "Foundation").
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Charitable Foundation
(d) No
(e) No
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<PAGE>
Barry Rubenstein, Marilyn Rubenstein and Brian Rubenstein are the
Trustees of the Foundation.
21. (a) Brian Rubenstein, one of the Trustees of The Foundation.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: Corporate Finance Staff Analyst
(d) No
(e) No
(f) Citizenship: United States
Brian Rubenstein is the son of Marilyn and Barry Rubenstein.
ITEM 3. Source and Amounts of Funds or Other Consideration
The individual reporting persons obtained funds for the purchase of
their securities from personal funds, working capital and/or other funds. The
partnerships obtained funds for the purchase of their securities from their
respective working capital and/or other funds.
Amendment No. l indicated that the Foundation sold the 20,000
Warrants on May 16, 1996 that it received for the January Warrants. This is
incorrect. As of the date of this Amendment No. 2, the Foundation owns 20,000
Warrants.
Pursuant to an agreement with GKN, the reporting persons have agreed
that they will not sell the Common Stock and Warrants received in exchange for
the Convertible Notes and January Warrants without the consent of GKN until
May 15, 1997.
In December 1996, Seneca, the Fund, Applewood, Woodland Partners,
21st Century, T-E, and Foreign purchased units ("1996 Units") each unit
consisting of 80 shares of $.01 par value Class A Convertible Preferred Stock
and 50,000 1996 Warrants. Upon the consummation of the private placement by the
Issuer and until five (5) years thereafter, the 1996 Warrants are exercisable
for an equal number of shares of Common Stock at $4.00 per share. The amount of
funds used in making the purchases of the 1996 Units in the December 12, 1996
private placement are set forth below:
Name Amount of Consideration
---- -----------------------
Seneca Ventures $200,000
Woodland Venture Fund $300,000
21st Century Communications
Partners, L.P. $1,695,000
21st Century Communications
T-E Partners, L.P. $577,000
21st Century Communications
Foreign Partners, L.P. $228,000
Applewood Associates, L.P $2,500,000
Woodland Partners $200,000
ITEM 4. Purpose of Transaction.
The reporting persons acquired their securities for purposes of
investment.
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<PAGE>
The reporting persons do not have any plans or proposals which
relate to or would result in any of the actions set forth in subparagraphs (a)
through (j) of Item 4 of Schedule 13D.
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 Form 10-QSB dated August 31, 1996) of outstanding shares of Common
Stock owned beneficially by each reporting person named in Item 2, as of
December 12, 1996:
Shares of Percent Percentage of Shares
Common Stock of Voting of Common Stock
Name Beneficially Owned(1) Control Beneficially Owned
- ---- --------------------- ------- --------------------
Barry Rubenstein 3,865,092(2),(6),(7) 48.2% 36.0%
Woodland Venture Fund 871,266(2) 9.6% 10.6%
Seneca Ventures 871,266(2) 9.6% 10.6%
Woodland Services Corp. 871,266(2) 9.6% 10.6%
21st Century Communications
Partners, L.P. 1,661,522(2),(3) 23.4% 18.6%
21st Century Communications
T-E Partners, L.P. 1,661,522(2),(4) 23.4% 18.6%
21st Century Communications
Foreign Partners, L.P. 1,661,522(2),(5) 23.4% 18.6%
Michael Marroco 1,661,522(2) 23.4% 18.6%
Barry Lewis 1,661,522(2) 23.4% 18.6%
John Kornreich 1,661,522(2) 23.4% 18.6%
Harvey Sandler 1,661,522(2) 23.4% 18.6%
Andrew Sandler 1,661,522(2) 23.4% 18.6%
- ----------
(1) Includes shares of Common Stock issuable upon the exercise of the Warrants
and the 1996 Warrants.
(2) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her/its equity interest therein.
(3) Includes 279,835 shares of Common Stock and 847,500 shares of Common Stock
issuable upon exercise of the 1996 Warrants. 21st Century disclaims
beneficial ownership of 98,765 shares of Common Stock and 288,500 1996
Warrants owned by T-E and 32,922 shares of Common Stock and 114,000 1996
Warrants owned by Foreign.
(4) Includes 98,765 shares of Common Stock and 288,500 shares of Common Stock
issuable upon exercise of the 1996 Warrants. T-E disclaims beneficial
ownership of 279,835 shares of Common Stock and 847,500 1996 Warrants
owned by 21st Century and 32,922 shares of Common Stock and 114,000 1996
Warrants owned by Foreign.
(5) Includes 32,922 shares of Common Stock and 114,000 shares of Common Stock
issuable upon exercise of the 1996 Warrants. Foreign disclaims beneficial
ownership of 279,835 shares of Common Stock and 847,500 1996 Warrants
owned by 21st Century and 98,765 shares of Common Stock and 288,500 1996
Warrants owned by T-E.
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<PAGE>
Barry Fingerhut 3,013,826(2),(6),(7) 41.4% 29.6%
Irwin Lieber 3,035,826(2),(6),(7) 41.5% 29.7%
Woodland Partners 871,266(2) 9.6% 10.6%
Applewood Associates 1,332,304(6) 21.3% 14.9%
Applewood Capital Corp. 1,332,304(2),(6) 21.3% 14.9%
Seth Lieber 1,332,304(2) 21.3% 14.9%
Jonathan Lieber 1,332,304(2) 21.3% 14.9%
Marilyn Rubenstein 871,266(2) 9.6% 10.6%
The Marilyn and Barry
Rubenstein Family Foundation 871,266(2) 9.6% 10.6%
Brian Rubenstein 20,000 0.1% 0.3%
(b) Barry Rubenstein has sole power to vote and dispose of 232,500 shares
of Common Stock (including 185,000 shares issuable upon the exercise of the
Warrants, the Option and the Non-Qualified Option), representing approximately
1.6% 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 and Woodland Partners, Barry Rubenstein may be
deemed to have shared power to vote 8,156,401 shares of Common Stock (including
4,523,809 voting rights from the Preferred Stock, and 2,850,000 shares issuable
upon exercise of the 1996 Warrants), and may be deemed to have shared power to
dispose of 3,632,592 shares of Common Stock (including 2,850,000 shares issuable
upon exercise of the 1996 Warrants), representing approximately 34.4% of the
outstanding Common Stock.
The Fund has sole power to vote 548,939 shares of Common Stock,
representing approximately 3.8% of the outstanding Common Stock (including
238,095 voting rights from the Preferred Stock and 150,000 shares issuable upon
exercise of the 1996 Warrants), and may be deemed to have shared power to vote
877,882 shares of Common Stock (including 317,460 voting rights from the
Preferred Stock and 200,000 shares issuable upon exercise of 1996 Warrants),
representing approximately 6.0% of the outstanding Common Stock. The Fund has
sole power to dispose of 310,844 shares of Common Stock (including 150,000
shares issuable upon exercise of the 1996 Warrants), representing approximately
4.0% of the outstanding Common Stock, and shared power to dispose of 560,422
shares of Common Stock (including 200,000 shares issuable upon the exercise of
the Warrants), representing approximately 6.9% of the outstanding Common Stock.
Seneca has sole power to vote 366,652 shares of Common Stock, representing
approximately 2.5% of the outstanding Common Stock (including 158,730 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 1,060,169
shares of Common Stock, (including 396,825 voting rights from the Preferred
Stock and 250,000 shares issuable upon the exercise of the 1996 Warrants),
representing approximately 7.2% of the outstanding Common Stock. Seneca has sole
power to dispose of 207,922 shares of Common Stock (including 100,000 shares
issuable upon exercise of the 1996 Warrants), representing approximately 2.7% of
the outstanding Common Stock, and may be deemed to have shared power to dispose
of 663,344 shares of Common Stock (including 250,000 shares issuable upon the
exercise of the 1996 Warrants), representing approximately 8.2% of the
outstanding Common Stock.
Woodland Services Corp. has shared power to vote 1,426,821 shares of
Common Stock (including 555,555 voting rights from the Preferred Stock, and
350,000 shares issuable upon the exercise of the 1996 Warrants) and maybe deemed
to have shared power to dispose of 871,266 shares of Common Stock (including
350,000 shares issuable upon the exercise of the 1996 Warrants), representing
approximately 10.6% of the outstanding Common Stock.
- ----------
(6) Includes 82,304 shares of Common Stock and 1,250,000 shares of Common
Stock issuable upon the exercise of the 1996 Warrants owned by Applewood.
(7) Includes 411,522 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.
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<PAGE>
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
3,645,649 shares of Common Stock, representing approximately 23.4% of the
outstanding Common Stock, (including 1,984,127 voting rights from the Preferred
Stock, and 1,250,000 shares issuable upon exercise of the 1996 Warrants), and
may be deemed to have shared power to dispose of 1,661,522 shares of Common
Stock (including 1,250,000 shares issuable upon exercise of the 1996 Warrants),
representing approximately 18.6% of the outstanding Common Stock.
By virtue of being the majority shareholder and director of EMEBE Corp.,
Barry Lewis may be deemed to have shared power to vote 3,645,649 shares of
Common Stock, representing approximately 23.4% of the outstanding Common Stock,
(including 1,984,127 voting rights from the Preferred Stock, and 1,250,000
shares issuable upon exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,661,522 shares of Common Stock, (including
1,250,000 shares issuable upon exercise of the 1996 Warrants), representing
approximately 18.6% 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 3,645,649 shares of
Common Stock representing approximately 23.4% of the outstanding Common Stock,
(including 1,984,127 voting rights from the Preferred Stock, and 1,250,000
shares issuable upon exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,661,522 shares of Common Stock (including 1,250,000
shares issuable upon exercise of the 1996 Warrants), representing approximately
18.6% 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 3,645,649 shares of Common Stock
representing approximately 23.4% of the outstanding Common Stock, (including
1,984,127 voting rights from the Preferred Stock, and 1,250,000 shares issuable
upon exercise of the 1996 Warrants), and may be deemed to have shared power to
dispose of 1,661,522 shares of Common Stock (including 1,250,000 shares issuable
upon exercise of the 1996 Warrants), representing approximately 18.6% of the
outstanding Common Stock.
By virtue of being a manager and majority member of ALSI, LLC, Andrew
Sandler may be deemed to have shared power to vote 3,645,649 shares of Common
Stock representing approximately 23.4% of the outstanding Common Stock,
(including 1,984,127 voting rights from the Preferred Stock, and 1,250,000
shares issuable upon exercise of the 1996 Warrants), and may be deemed to have
shared power to dispose of 1,661,522 shares of Common Stock (including 1,250,000
shares issuable upon exercise of the 1996 Warrants), representing approximately
18.6% 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 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
6,962,080 shares of Common Stock (including 3,968,254 voting rights from the
Preferred Stock, and 2,500,000 shares issuable upon exercise of the 1996
Warrants), representing approximately 41.3% of the outstanding Common Stock and
may be deemed to have shared power to dispose of 2,993,826 shares of Common
Stock (including 2,500,000 shares issuable upon exercise of the 1996 Warrants),
representing approximately 29.4% 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
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<PAGE>
to vote 6,962,080 shares of Common Stock (including 3,968,254 voting rights from
the Preferred Stock, and 2,500,000 shares issuable upon exercise of the 1996
Warrants), representing approximately 41.3% of the outstanding Common Stock, and
may be deemed to have shared power to dispose of 2,993,826 shares of Common
Stock (including 2,500,000 shares issuable upon exercise of the 1996 Warrants),
representing approximately 29.4% of the outstanding Common Stock.
Woodland Partners has sole power to vote 258,730 shares of Common Stock,
representing approximately 1.8% of the outstanding Common Stock (including
158,730 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
1,168,091 shares of Common Stock (including 396,825 voting rights from the
Preferred Stock, and 250,000 shares issuable upon exercise of the 1996
Warrants), representing approximately 7.9% of the outstanding Common Stock.
Woodland Partners has sole power to dispose of 100,000 shares of Common Stock
(including 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 771,266 shares of Common Stock
(including 250,000 shares issuable upon exercise of the 1996 warrants),
representing approximately 9.5% 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 1,426,821 shares of Common Stock (including
555,555 voting rights from the Preferred Stock, and 350,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 9.6% of the
outstanding Common Stock), and may be deemed to have shared power to dispose of
871,266 shares of Common Stock (including 350,000 shares issuable upon exercise
of the 1996 Warrants), representing approximately 10.6% of the outstanding
Common Stock.
Applewood has sole power to vote 3,316,431 shares of Common Stock
(representing including 1,984,127 voting rights from the Preferred Stock, and
1,250,000 shares of Common Stock issuable upon exercise of the Warrants),
representing approximately 21.3% of the outstanding Common Stock and has sole
power to dispose of 1,332,304 shares of Common Stock (including 1,250,000 shares
issuable upon exercise of the 1996 Warrants), representing approximately 14.9%
of the outstanding Common Stock.
AC Corp. may be deemed to have shared power to vote 3,316,431 shares of
Common Stock (including 1,984,127 voting rights from the Preferred Stock and
1,250,000 shares issuable upon exercise of the 1996 Warrants), representing
approximately 21.3% of the outstanding Common Stock), and may be deemed to have
shared power to dispose of 1,332,304 shares of Common Stock (including 1,250,000
shares issuable upon exercise of the 1996 Warrants), representing approximately
14.9% of the outstanding Common Stock.
21st Century has sole power to vote 2,472,573 shares of Common Stock
(including 1,345,238 voting rights from the Preferred Stock and 847,500 shares
of Common Stock issuable upon exercise of the 1996 Warrants), representing
approximately 16.3% of the outstanding Common Stock. 21st Century has sole power
to dispose of 1,127,335 shares of Common Stock (including 847,500 shares
issuable upon exercise of the 1996 Warrants), representing approximately 13.2%
of the outstanding shares of Common Stock. 21st Century may be deemed to have
shared power to vote 1,173,076 shares of Common Stock (including 638,889 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 534,187
shares of Common Stock (including 402,500 shares issuable upon exercise of the
1996 Warrants), representing approximately 6.6% of the outstanding Common Stock.
T-E has sole power to vote 845,202 shares of Common Stock (including
457,937 voting rights from the Preferred Stock and 288,500 shares of Common
Stock issuable upon exercise of the 1996 Warrants), representing approximately
5.8% of the outstanding Common Stock and may be
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<PAGE>
deemed to have shared power to vote 2,800,447 shares of Common Stock (including
1,526,190 voting rights from the Preferred Stock, and 961,500 shares issuable
upon exercise of the 1996 Warrants), representing approximately 18.3% of the
outstanding Common Stock. T-E has sole power to dispose of 387,265 shares of
Common Stock (including 288,500 shares issuable upon exercise of the 1996
Warrants), representing approximately 4.9% of the outstanding Common Stock and
may be deemed to have shared power to dispose of 1,274,257 shares of Common
Stock (including 961,500 shares issuable upon exercise of the 1996 Warrants),
representing approximately 14.7% of the outstanding Common Stock.
Foreign has sole power to vote 327,874 shares of Common Stock (including
180,952 voting rights from the Preferred Stock and 114,000 shares of Common
Stock issuable upon exercise of the 1996 Warrants), representing approximately
2.3% of the outstanding Common Stock. Foreign may be deemed to have shared power
to vote 3,317,775 shares of Common Stock (including 1,803,175 voting rights from
the Preferred Stock and 1,136,000 shares issuable upon exercise of the 1996
Warrants), representing approximately 21.4% of the outstanding Common Stock.
Foreign has sole power to dispose of 146,922 shares of Common Stock (including
114,000 shares of Common Stock issuable upon exercise of the 1996 Warrants)
representing approximately 1.9% of the outstanding Common Stock and may be
deemed to have shared power to dispose of 1,514,600 shares of Common Stock
(including 1,136,000 shares issuable upon exercise of the 1996 Warrants),
representing approximately 17.2% 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 3,316,431 shares of Common Stock (including
1,984,127 voting rights from the Preferred Stock, and 1,250,000 shares issuable
upon exercise of the 1996 Warrants), representing approximately 21.3% of the
outstanding Common Stock and may be deemed to have shared power to dispose of
1,332,304 shares of Common Stock (including 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 14.9% of the
outstanding Common Stock.
By virtue of being an officer of AC Corp., Seth Lieber may be deemed to
have shared power to vote 3,316,431 shares of Common Stock (including 1,984,127
voting rights from the Preferred Stock, and 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 21.3% of the
outstanding Common Stock and may be deemed to have shared power to dispose of
1,332,304 shares of Common Stock (including 1,250,000 shares issuable upon
exercise of the 1996 Warrants), representing approximately 14.9% of the
outstanding Common Stock.
The Foundation 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% and 0.3%, respectively, of the
outstanding Common Stock. The Foundation may be deemed to have shared power to
vote 1,406,821 shares of Common Stock, representing approximately 9.5% of the
outstanding Common Stock and 851,266 shares of Common Stock, representing
approximately 10.4% of the outstanding shares of Common Stock.
By virtue of being a Trustee of the Foundation, Brian Rubenstein may be
deemed to have shared power to vote and dispose of 20,000 shares of Common Stock
(representing 20,000 shares issuable upon the exercise of the Warrants),
representing 0.1% and 0.3%, respectively, of the outstanding shares of Common
Stock.
(c) The following is a description of all transactions in shares of Common
Stock of the Issuer by the persons identified in Item 2 of this Schedule 13D
effected from October 12, 1996 through December 12, 1996, inclusive:
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Purchase Number of Purchase
Name of Shareholder Date Units Purchased Price Per Unit
- ------------------- -------- --------------- --------------
Seneca Ventures 12/12/96 2 $100,000
Woodland Venture Fund 12/12/96 3 $100,000
21st Century Communications
Partners, L.P. 12/12/96 16.95 $100,000
21st Century Communications
T-E Partners, L.P. 12/12/96 5.77 $100,000
21st Century Communications
Foreign Partners, L.P. 12/12/96 2.28 $100,000
Applewood Associates 12/12/96 25 $100,000
Woodland Partners 12/12/96 2 $100,000
Effective November 4, 1996, the Board of Directors of the Issuer granted a
three-year option to purchase 400,000 shares of the Issuer's Common Stock to a
general partnership, in which Mr. Rubenstein is a general partner, at a price of
$2.375 per share. The option is not exercisable until August 15, 1997.
(d) No other person has the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
ITEM 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
(c) Woodland Partners is a general partnership established and
governed by New York law and a partnership agreement. Pursuant to such
agreement, voting and investment power over the shares of Common Stock held by
Woodland Partners is vested in its general partners - Barry Rubenstein and
Marilyn Rubenstein.
(d) Applewood is a limited partnership established and
governed by New York law and a partnership agreement. Pursuant to such
agreement, voting and investment power over the shares of Common Stock held by
Applewood is vested in its general partners - AC Corp., Barry Rubenstein, Irwin
Lieber and Barry Fingerhut. The limited partners have no voting or investment
power over the shares of Common Stock held by Applewood.
(e) The Foundation is a charitable trust organized under the
laws of the State of New York. It is exempt from Federal income taxation
pursuant to Section 501(a) of the Code as an organization described in Section
501(c)(3) of the Code. Pursuant to a trust agreement, voting and investment
power over the shares of the Issuer held by the Foundation is vested in its
trustees-Barry Rubenstein, Marilyn Rubenstein, and Brian Rubenstein.
-32 of 39-
<PAGE>
(f) The Issuer has agreed to register the (i) the 1996
Warrants and Common Stock underlying the 1996 Warrants for resale and (ii) the
issuance of the Common Stock underlying the Preferred Stock.
(g) The Issuer may at any time redeem all, or any portion of
the Preferred Stock, on a pro-rata basis; and the Issuer must redeem the
Preferred Stock, in the event it receives proceeds from (i) the exercise of any
of the public Warrants or (ii) any other equity financing except that only 50%
of the proceeds from such other financing are to be used in connection with such
redemption. If the proceeds raised from the exercise of the 1996 Warrants or
such other equity financing are not sufficient to redeem all of the Preferred
Stock, the Preferred Stock shall be redeemed with such proceeds on a pro-rata
basis.
(h) Except for the circumstances discussed or referred to in
paragraphs (c) and (g) above, there are no contracts, arrangements,
understandings, or relationships with respect to the securities of the Issuer
among any of the persons reporting in this Schedule.
ITEM 7. Material to be Filed as Exhibits
Exhibit A - Agreement, effective as of December 12, 1996,
among the reporting persons by which they have agreed to file this Schedule 13D
and all necessary amendments, as required by Rule 13d-1(f).
Exhibit B - Power of Attorney, dated February 7, 1997,
appointing Barry Rubenstein as attorney-in-fact for Brian Rubenstein.
-33 of 39-
<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: February 7, 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/Barry Rubenstein
-----------------------------------------
Barry Rubenstein,
President
WOODLAND PARTNERS
s/Barry Rubenstein
-----------------------------------------
Barry Rubenstein,
A General Partner
APPLEWOOD ASSOCIATES L.P.
s/Irwin Lieber
-----------------------------------------
By: Irwin Lieber,
A General Partner
APPLEWOOD CAPITAL CORP.
s/Barry Rubenstein
-----------------------------------------
By: Barry Rubenstein,
President
s/Barry Rubenstein
-----------------------------------------
Barry Rubenstein, Individually
s/Barry Fingerhut
-----------------------------------------
Barry Fingerhut, Individually
s/Seth Lieber
-----------------------------------------
Seth Lieber, Individually
-34 of 39-
<PAGE>
s/Jonathan Lieber
-----------------------------------------
Jonathan Lieber, Individually
s/Irwin Lieber
-----------------------------------------
Irwin Lieber, Individually
s/Marilyn Rubenstein
-----------------------------------------
Marilyn Rubenstein, Individually
The Marilyn and Barry Rubenstein Family
Foundation
s/Barry Rubenstein
-----------------------------------------
By: Barry Rubenstein, a Trustee
*
-----------------------------------------
Brian Rubenstein, Individually
* s/Barry Rubenstein
----------------------------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-35 of 39-
<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/Harvey Sandler
-------------------------------------------------
Name: Harvey Sandler
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/Harvey Sandler
-------------------------------------------------
Name: Harvey Sandler
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/Harvey Sandler
-------------------------------------------------
Name: Harvey Sandler
Title:
s/Michael J. Marocco
--------------------------------------------------------
Michael J. Marocco, Individually
s/Barry Lewis
--------------------------------------------------------
Barry Lewis, Individually
s/John Kornreich
--------------------------------------------------------
John Kornreich, Individually
s/Harvey Sandler
--------------------------------------------------------
Harvey Sandler, Individually
s/Andrew Sandler
--------------------------------------------------------
Andrew Sandler, Individually
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-36 of 39-
Exhibit A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby agree to the joint filing on behalf of
each of them on a statement on Schedule 13D (including amendments thereto) with
respect to the Common Stock, par value $.01 per share ("Common Stock"), and
other securities convertible into Common Stock, of Enteractive, Inc. and that
this Agreement be included as an Exhibit to such joint filing.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement
effective as of December 12, 1996.
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/Barry Rubenstein
-------------------------------
Barry Rubenstein,
President
WOODLAND PARTNERS
s/Barry Rubenstein
-------------------------------
Barry Rubenstein,
A General Partner
-37 of 39-
<PAGE>
APPLEWOOD ASSOCIATES, L.P.
s/Irwin Lieber
-------------------------------
By: Irwin Lieber,
A General Partner
APPLEWOOD CAPITAL CORP.
s/Barry Rubenstein
-------------------------------
By: Barry Rubenstein,
President
s/Barry Rubenstein
-------------------------------
Barry Rubenstein, Individually
s/Irwin Lieber
-------------------------------
Irwin Lieber, Individually
s/Barry Fingerhut
-------------------------------
Barry Fingerhut, Individually
s/Marilyn Rubenstein
--------------------------------
Marilyn Rubenstein, Individually
s/Seth Lieber
-------------------------------
Seth Lieber, Individually
s/Jonathan Lieber
-------------------------------
Jonathan Lieber, Individually
THE MARILYN AND BARRY RUBENSTEIN
FAMILY FOUNDATION
s/Barry Rubenstein
-------------------------------
By: Barry Rubenstein, a Trustee
*
-------------------------------
Brian Rubenstein, Individually
*s/Barry Rubenstein
- -------------------------------
Barry Rubenstein, Attorney-in-Fact
-38 of 39-
<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/Harvey Sandler
----------------------------------------------------
Name: Harvey Sandler
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/Harvey Sandler
----------------------------------------------------
Name: Harvey Sandler
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/Harvey Sandler
----------------------------------------------------
Name: Harvey Sandler
Title:
s/Michael J. Marocco
-----------------------------------
Michael J. Marocco, Individually
s/Barry Lewis
-----------------------------------
Barry Lewis, Individually
s/John Kornreich
-----------------------------------
John Kornreich, Individually
s/Harvey Sandler
-----------------------------------
Harvey Sandler, Individually
s/Andrew Sandler
-----------------------------------
Andrew Sandler, Individually
-39 of 39-
Exhibit B
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears
below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D,
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite
and necessary to be done in and about the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 7th day of February,
1997.
s/ Brian Rubenstein
-----------------------------
BRIAN RUBENSTEIN
