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. 3)*
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)
January 10, 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 34 -
<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
332,500 shares 2.3%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 8,609,639 shares 50.0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 332,500 shares 4.2%
Person -----------------------------------------------------------------
With 10 Shared Dispositive Power
4,085,829 shares 38.7%
- ------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
4,418,329 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
41.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-2 of 34 -
<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
548,939 shares 3.8%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 1,081,119 shares 7.3%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 310,844 shares 4.0%
Person -----------------------------------------------------------------
With 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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-3 of 34 -
<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 366,652 shares 2.5%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,263,406 shares 8.5%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 207,922 shares 2.7%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-4 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,630,058 shares 10.9%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-5 of 34 -
<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 2,591,228 shares 17.1%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,229,421 shares 8.3%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 1,245,990 shares 14.6%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-6 of 34 -
<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 885,573 shares 6.1%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 2,935,076 shares 19.2%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 427,636 shares 5.4%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-7 of 34 -
<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 343,848 shares 2.4%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,476,801 shares 22.5%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 162,896 shares 2.1%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-8 of 34 -
<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
0 shares 0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 3,820,649 shares 24.5%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-9 of 34 -
<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
0 shares 0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 3,820,649 shares 24.5%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-10 of 34 -
<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
0 shares 0%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 3,820,649 shares 24.5%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person -----------------------------------------------------------------
With 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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-11 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,820,649 shares 24.5%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-12 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,820,649 shares 24.5%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
20.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-13 of 34 -
<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 20,000 shares 0.1%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 7,312,080 shares 43.4%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 20,000 shares 0.3%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
33.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-14 of 34 -
<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 42,000 shares 0.3%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 7,312,080 shares 43.4%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 42,000 shares 0.5%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
33.1%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-15 of 34 -
<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 258,730 shares 1.8%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,371,328 shares 9.3%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 100,000 shares 1.3%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-16 of 34 -
<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
3,491,431 shares 22.4%
Number of -----------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially 0 shares 0%
Owned By -----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting 1,507,304 shares 16.9%
Person -----------------------------------------------------------------
With 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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-17 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,491,431 shares 22.4%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-18 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,491,431 shares 22.4%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-19 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 3,491,431 shares 22.4%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
16.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-20 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,630,058 shares 10.9%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-21 of 34 -
<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 123,237 shares 0.9%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 1,506,821 shares 10.6%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 123,237 shares 1.6%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
13.0%
- --------------------------------------------------------------------------------
s14 Type of Reporting Person*
00
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-22 of 34 -
<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 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 123,237 shares 0.9%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
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* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.6%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-23 of 34 -
<PAGE>
This statement, dated January 10, 1997, constitutes Amendment No. 3 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. 3 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended, by the reporting
persons. It shall refer only to information which has materially changed since
the filing of the Schedule.
-24 of 34 -
<PAGE>
ITEM 3. Source and Amounts of Funds or Other Consideration
The individual reporting person obtained funds for the purchase of his
Common Stock from personal funds, working capital and/or other funds. The
partnerships obtained funds for the purchase of their Common Stock from their
respective working capital and/or other funds.
On January 10, 1997, each of Applewood, Barry Rubenstein, the Foundation,
21st Centruy, T-E and Foreign purchased shares of Common Stock from certain
individuals in private transactions. The amount of funds used in the January 10,
1997 private transaction are set forth below.
Name Amount of Consideration
---- -----------------------
Barry Rubenstein $103,000
The Marilyn and Barry Rubenstein
Family Foundation $106,334
21st Century Communications
Partners, L.P. $122,215
21st Century Communications
T-E Partners, L.P. $ 41,582
21st Century Communications
Foreign Partners, L.P. $ 16,453
Applewood Associates, L.P $180,250
-25 of 34 -
<PAGE>
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 November 30, 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 4,418,329(2)(6)(7) 51.4% 41.2%
Woodland Venture Fund 1,074,503(2) 10.9% 13.0%
Seneca Ventures 1,074,503(2) 10.9% 13.0%
Woodland Services Corp. 1,074,503(2) 10.9% 13.0%
21st Century
Communications 1,836,522(2)(3) 24.5% 20.6%
Partners, L.P.
21st Century
Communications T-E 1,836,522(2)(4) 24.5% 20.6%
Partners, L.P.
21st Century
Communications Foreign 1,836,522(2)(5) 24.5% 20.6%
Partners, L.P.
Michael Marroco 1,836,522(2) 24.5% 20.6%
Barry Lewis 1,836,522(2) 24.5% 20.6%
John Kornreich 1,836,522(2) 24.5% 20.6%
Harvey Sandler 1,836,522(2) 24.5% 20.6%
Andrew Sandler 1,836,522(2) 24.5% 20.6%
- ----------
(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 398,490 shares of Common Stock and 847,500 shares of Common Stock
issuable upon 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.
(4) Includes 139,136 shares of Common Stock and 288,500 shares of Common Stock
issuable upon 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 exercise of the 1996 Warrants owned by 21st Century
and 48,896 shares of Common Stock and 114,000 shares of Common Stock
issuable upon exercise of the 1996 Warrants owned by Foreign.
(5) Includes 48,896 shares of Common Stock and 114,000 shares of Common Stock
issuable upon 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 exercise of the 1996 Warrants owned by 21st Century
and 139,136 shares of Common Stock and 288,500 shares of Common stock
issuable upon exercise of the 1996 Warrants owned by T-E.
-26 of 34 -
<PAGE>
Barry Fingerhut 3,363,826(2)(6)(7) 43.4% 33.0%
Irwin Lieber 3,385,826(2)(6)(7) 43.7% 33.3%
Woodland Partners 1,074,503(2) 11.0% 13.0%
Applewood Associates 1,507,304(6) 22.4% 16.9%
Applewood Capital Corp. 1,507,304(2)(6) 22.4% 16.9%
Seth Lieber 1,507,304(2) 22.4% 16.9%
Jonathan Lieber 1,507,304(2) 22.4% 16.9%
Marilyn Rubenstein 1,074,503(2) 10.9% 13.0%
The Marilyn and Barry
Rubenstein Family
Foundation 1,074,503(2) 10.9% 13.0%
Brian Rubenstein 123,237(2) 0.9% 1.6%
(b) Barry Rubenstein has sole power to vote and dispose of 332,500 shares
of Common Stock (including 185,000 shares issuable upon the exercise of the
Warrants, the Option and the Non- Qualified Option), representing approximately
2.3% 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 and Woodland Partners,
Barry Rubenstein may be deemed to have shared power to vote 8,609,638 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 4,085,829 shares of Common Stock (including
2,850,000 shares issuable upon exercise of the 1996 Warrants), representing
approximately 38.7% 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
shares of Common Stock upon exercise of the 1996 Warrants), and may be deemed to
have shared power to vote 1,081,119 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 7.3% 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 763,659 shares of Common Stock (including 200,000 shares
issuable upon the exercise of the Warrants), representing approximately 9.4% 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 1,263,406
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 8.5% 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 866,581 shares of Common Stock (including 250,000 shares issuable upon the
exercise of the 1996 Warrants), representing approximately 10.7% of the
outstanding Common Stock.
Woodland Services Corp. has shared power to vote 1,630,058 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), representing
approximately 10.9% of the outstanding Common Stock, and may be deemed to have
share power to dispose of 1,074,503 shares of Common Stock (including 350,000
shares of Common Stock issuable upon the exercise of the 1996 Warrants),
representing approximately 13% of the outstanding Common Stock.
- --------
(6) 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.
(7) 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.
-27 of 34 -
<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 3,820,649
shares of Common Stock, representing approximately 24.5% 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 1,836,522 shares of Common Stock (including
1,250,000 shares issuable upon 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 Corp.,
Barry Lewis may be deemed to have shared power to vote 3,820,649 shares of
Common Stock, representing approximately 24.5% 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 1,836,522 shares of Common Stock, (including
1,250,000 shares issuable upon 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 3,820,649 shares of
Common Stock representing approximately 24.5% 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 1,836,522 shares of Common Stock (including 1,250,000
shares issuable upon 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 3,820,649 shares of Common Stock
representing approximately 24.5% 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 1,836,522 shares of Common Stock (including 1,250,000 shares issuable
upon exercise of the 1996 Warrants), representing approximately 20.6% 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 3,820,649 shares of Common
Stock representing approximately 24.5% 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 1,836,522 shares of Common Stock (including 1,250,000
shares issuable upon 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 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
7,312,080 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 43.4% 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 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
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<PAGE>
to vote 7,312,080 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 43.4% 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 exercise of the 1996 Warrants),
representing approximately 32.8% 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
1,371,328 shares of Common Stock (including 396,825 voting rights from the
Preferred Stock, and 250,000 shares issuable upon exercise of the 1996 Warrants
and 20,000 shares of Common Stock issuable upon the Warrants), representing
approximately 10.9% 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 974,503 shares of Common Stock (including 250,000 shares issuable upon
exercise of the 1996 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 1,630,058 shares of Common Stock (including
555,555 voting rights from the Preferred Stock, and 350,000 shares issuable upon
exercise of the 1996 Warrants and 20,000 shares of Common Stock issuable upon
the Warrants), representing approximately 10.9% 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 and 20,000 shares of Common Stock issuable upon the Warrants),
representing approximately 13.0% of the outstanding Common Stock.
Applewood has sole power to vote 3,491,431 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 22.4% 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 3,491,341 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 22.4% 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.
21st Century has sole power to vote 2,591,228 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 17.1% 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 1,229,421 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 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 885,573 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
6.1% of the outstanding Common Stock and may be
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<PAGE>
deemed to have shared power to vote 2,935,076 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 19.2% 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 343,848 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
2.4% of the outstanding Common Stock. Foreign may be deemed to have shared power
to vote 3,476,801 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 22.5% 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 an officer of AC Corp., Jonathan Lieber may be deemed
to have shared power to vote 3,491,431 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 22.4% 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., Seth Lieber may be deemed to
have shared power to vote 3,491,431 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 22.4% 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.
The Foundation has sole power to vote 123,237 shares of Common Stock
(including 20,000 shares of Common Stock issuable upon the exercise of the
Warrants), representing approximately 0.9% of the outstanding Common Stock, and
may be deemed to have shared power to vote 1,506,821 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), representing approximately
10.8% 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), 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 0.9% 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 of Common
Stock issuable upon the exercise of the Warrants), representing 1.6% of the
outstanding Common Stock.
(c) The following is a description of all transactions in shares of Common
Stock of the Issuer by the persons identified in Item 2 of this Schedule 13D
effected from December 13, 1996 through January 10, 1997, inclusive:
-30 of 34 -
<PAGE>
Purchase Number of Shares Purchase
Name of Shareholder Date Common Stock Purchased Price Per Unit
- ------------------- -------- ---------------------- --------------
Barry Rubenstein 01/10/97 100,000 $1.03
21st Century Communications 01/10/97 118,655 $1.03
Partners, L.P.
21st Century Communications 01/10/97 40,371 $1.03
T-E Partners, L.P.
21st Century Communications 01/10/97 15,974 $1.03
Foreign Partners, L.P.
Applewood Associates 01/10/97 108,660 $1.03
01/10/97 66,340 $1.03
The Marilyn and Barry
Rubenstein Family Foundation 01/10/97 103,237 $1.03
-31 of 34 -
<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: January 14, 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
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<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
-33 of 34 -
<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).
-34 of 34 -
