SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.12)(1)
CORNERSTONE INTERNET SOLUTIONS CO.
- --------------------------------------------------------------------------------
Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
293636106
- --------------------------------------------------------------------------------
(CUSIP Number)
Copy to:
Seneca Ventures Morrison Cohen Singer & Weinstein, LLP
68 Wheatley Road 750 Lexington Avenue
Brookville, New York 11545 New York, New York 10022
Telephone (516) 626-3070 Telephone (212) 735-8600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
December 14, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of 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 ss.ss. 240.13d - 1(e), 240.13d- 1(f) or 240.13d-1(g), check
the following box |_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following page(s))
- -------------------
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("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).
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 263,000 shares 1.1%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 5,975,951 shares 25.7%
Person With _________________________________________________________________
9 Sole Dispositive Power
263,000 shares 1.1%
_________________________________________________________________
10 Shared Dispositive Power
5,975,951 shares 25.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
6,238,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 26.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Venture Fund
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 150,000 shares 0.6%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 313,000 shares 1.3%
Person With _________________________________________________________________
9 Sole Dispositive Power
150,000 shares 0.6%
_________________________________________________________________
10 Shared Dispositive Power
313,000 shares 1.3%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Seneca Ventures
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 50,000 shares 0.2 %
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 413,000 shares 1.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
50,000 shares 0.2 %
_________________________________________________________________
10 Shared Dispositive Power
413,000 shares 1.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Services Corp.
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 463,000 shares 2.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
463,000 shares 2.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 2,162,234 shares 9.4%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 1,025,717 shares 4.4%
Person With _________________________________________________________________
9 Sole Dispositive Power
2,162,234 shares 9.4%
_________________________________________________________________
10 Shared Dispositive Power
1,025,717 shares 4.4%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications T-E Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 740,104 shares 3.2%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 2,447,847 shares 10.6%
Person With _________________________________________________________________
9 Sole Dispositive Power
740,104 shares 3.2%
_________________________________________________________________
10 Shared Dispositive Power
2,447,847 shares 10.6%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Foreign Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 285,613 shares 1.2%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 2,902,338 shares 12.6%
Person With _________________________________________________________________
9 Sole Dispositive Power
285,613 shares 1.2%
_________________________________________________________________
10 Shared Dispositive Power
2,902,338 shares 12.6%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Michael J. Marocco
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
John Kornreich
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Harvey Sandler
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Andrew Sandler
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Fingerhut
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 1,000 shares 0.01%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 5,775,951 shares 25.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
1,000 shares 0.01%
_________________________________________________________________
10 Shared Dispositive Power
5,775,951 shares 25.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
5,776,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 25.0%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Irwin Lieber
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 6,000 shares 0.01%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 5,775,951 shares 25.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
6,000 shares 0.01%
_________________________________________________________________
10 Shared Dispositive Power
5,775,951 shares 25.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
5,781,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 25.0%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Woodland Partners
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 463,000 shares 2.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
463,000 shares 2.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Wheatley Partners II, L.P. (formerly, Applewood Associates, L.P.)
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
WC, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 2,588,000 shares 11.2%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 0 shares 0%
Person With _________________________________________________________________
9 Sole Dispositive Power
2,588,000 shares 11.2%
_________________________________________________________________
10 Shared Dispositive Power
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
2,588,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 11.2%
________________________________________________________________________________
14 Type of Reporting Person
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Applewood Capital Corp.
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 2,588,000 shares 11.2%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
2,588,000 shares 11.2%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
2,588,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 11.2%
________________________________________________________________________________
14 Type of Reporting Person
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Seth Lieber
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 2,588,000 shares 11.2%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
2,588,000 shares 11.2%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
2,588,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 11.2%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Jonathan Lieber
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 2,588,000 shares 11.2%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
2,588,000 shares 11.2%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
2,588,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 11.2%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 19 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Marilyn Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 463,000 shares 2.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
463,000 shares 2.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 20 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
The Marilyn and Barry Rubenstein Family Foundation
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 463,000 shares 2.0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
463,000 shares 2.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
463,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 2.0%
________________________________________________________________________________
14 Type of Reporting Person
OO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 21 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Brian Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 0 shares 0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 0%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 22 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Rebecca Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 0 shares 0%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 0%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 23 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Douglas Schimmel
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 24 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Hannah Stone
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 25 of 38
<PAGE>
CUSIP
No. 293636106 13D
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
David Lee
________________________________________________________________________________
2 Check the Appropriate Box If a Member (a) [_]
of a Group (See Instructions) (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds (See Instructions)
OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(d) or 2(e)
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of Shares 0 shares 0%
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power
by Each
Reporting 3,187,951 shares 13.8%
Person With _________________________________________________________________
9 Sole Dispositive Power
0 shares 0%
_________________________________________________________________
10 Shared Dispositive Power
3,187,951 shares 13.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially
Owned by Each Reporting Person
3,187,951 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares (See Instructions)
________________________________________________________________________________
13 Percent of Class Represented by
Amount in Row (11) 13.8%
________________________________________________________________________________
14 Type of Reporting Person
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 26 of 38
<PAGE>
This statement, dated December 14, 1999, constitutes Amendment No. 12 to
the Schedule 13D, dated September 11, 1995, regarding the reporting persons
ownership of certain securities of Cornerstone Internet Solutions Co. (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. 12 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 4. Purpose of Transaction.
Other than the reporting persons' purchase or sale of additional securities
of the Issuer, no reporting person has any present plan or proposal which would
relate to or result in any of the matters set forth in subparagraphs (a)-(j) of
Item 4 of Schedule 13D except as set forth herein.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 13,669,292 shares of Common Stock outstanding as of August 31, 1999,
as reported by the Issuer in its Form 10-Q for the quarter ended August 31, 1999
plus, 9,450,000 shares of Common Stock issued upon the conversion by the
reporting persons of 7,560 shares of Class D Preferred Stock, in the aggregate,
into Common Stock), of outstanding shares of Common Stock owned beneficially by
each reporting person named in Item 2, as of January 6, 2000.
Page 27 of 38
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock Percent of Voting of Common Stock
Name Beneficially Owned(2) Control Beneficially Owned(2)
------ ------------------ ------- ------------------
<S> <C> <C> <C> <C>
Barry Rubenstein 6,238,951 (2,3,4,5,6) 26.8% 26.8%
Woodland Venture Fund 463,000 (2,3,4) 2.0% 2.0%
Seneca Ventures 463,000 (2,3,4) 2.0% 2.0%
Woodland Services Corp. 463,000 (2,3,4) 2.0% 2.0%
21st Century 3,187,951 (3, 7) 13.8% 13.8%
Communications
Partners, L.P.
21st Century 3,187,951 (3,8 ) 13.8% 13.8%
Communications T-E
Partners, L.P.
21st Century 3,187,951 (3,9) 13.8% 13.8%
Communications
Foreign Partners, L.P.
Michael Marocco 3,187,951 (3,6) 13.8% 13.8%
John Kornreich 3,187,951 (3,6) 13.8% 13.8%
</TABLE>
- ------------------------------
(2) Includes shares of Common Stock issuable upon the exercise of the options.
(3) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her/its equity interest therein.
(4) Includes 50,500 shares of Common Stock held in Barry Rubenstein's Rollover
IRA account, 37,500 shares of Common Stock owned by Barry Rubenstein,
150,000 shares of Common Stock owned by Woodland Venture Fund, and 50,000
shares of Common Stock owned by Seneca Ventures.
(5) Includes 2,588,000 shares of Common Stock owned by Wheatley Partners II,
L.P.
(6) Includes 3,187,951 shares of Common Stock owned by 21st Century, T-E and
Foreign.
(7) Includes 2,162,234 shares of Common Stock. 21st Century disclaims
beneficial ownership of 740,104 shares of Common Stock owned by T-E and
285,613 shares of Common Stock owned by Foreign.
(8) Includes 740,104 shares of Common Stock. T-E disclaims beneficial ownership
of 2,162,234 shares of Common Stock owned by 21st Century and 285,613
shares of Common Stock owned by Foreign.
(9) Includes 285,613 shares of Common Stock. Foreign disclaims beneficial
ownership of 2,162,234 shares of Common Stock owned by 21st Century and
740,104 shares of Common Stock owned by T-E.
Page 28 of 38
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock Percent of Voting of Common Stock
Name Beneficially Owned(2) Control Beneficially Owned(2)
------ ------------------ ------- ------------------
<S> <C> <C> <C> <C>
Harvey Sandler 3,187,951 (3,6) 13.8% 13.8%
Andrew Sandler 3,187,951 (3,6) 13.8% 13.8%
Barry Fingerhut 5,776,951 (3,5,6) 25.0% 25.0%
Irwin Lieber 5,781,951 (3,5,6) 25.0% 25.0%
Woodland Partners 463,000 (2,3,4) 2.0% 2.0%
Wheatley Partners II, L.P. 2,588,000 (5) 11.2% 11.2%
Applewood Capital Corp. 2,588,000 (3,5) 11.2% 11.2%
Seth Lieber 2,588,000 (3,5) 11.2% 11.2%
Jonathan Lieber 2,588,000 (3,5) 11.2% 11.2%
Marilyn Rubenstein 463,000 (2,3,4) 2.0% 2.0%
The Marilyn and Barry 463,000 (2,3,4) 2.0% 2.0%
Rubenstein Family
Foundation
Brian Rubenstein 0 0% 0%
Rebecca Rubenstein 0 0% 0%
Douglas Schimmel 3,187,951 (3,6) 13.8% 13.8%
Hannah Stone 3,187,951 (3,6) 13.8% 13.8%
David Lee 3,187,951 (3,6) 13.8% 13.8%
</TABLE>
(b) Barry Rubenstein has sole power to vote and to dispose of 263,000
shares of Common Stock (including 125,000 shares issuable upon the exercise of
the Non-Qualified Option and 50,000 shares issuable upon the exercise of the
Option), representing approximately 1.1% 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 Wheatley Partners II, L.P., Seneca, the
Fund and Woodland Partners, Barry Rubenstein may be deemed to have shared power
to vote and to depose of 5,975,951 shares of Common Stock, representing
approximately 25.7% of the outstanding Common Stock.
The Fund has sole power to vote and to dispose of 150,000 shares of Common
Stock, representing approximately 0.6% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 313,000 shares of
Common Stock (including 125,000 shares
Page 29 of 38
<PAGE>
issuable upon the exercise of the Non-Qualified Option and 50,000 shares
issuable upon the exercise of the Option), representing approximately 1.3% of
the outstanding Common Stock.
Seneca has sole power to vote and to dispose of 50,000 shares of Common
Stock, representing approximately 0.2% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 413,000 shares of
Common Stock (including 125,000 shares issuable upon the exercise of the
Non-Qualified Option and 50,000 shares issuable upon the exercise of the
Option), representing approximately 1.8% of the outstanding Common Stock.
Woodland Services Corp. has shared power to vote and to dispose of 463,000
shares of Common Stock (including 125,000 shares issuable upon the exercise of
the Non-Qualified Option and 50,000 shares issuable upon the exercise of the
Option), representing approximately 2.0% of the outstanding Common Stock.
21st Century has sole power to vote and to dispose of 2,162,234 shares of
Common Stock, representing approximately 9.4% of the outstanding Common Stock,
and may be deemed to have shared power to vote and to dispose of 1,025,717
shares of Common Stock, representing approximately 4.4% of the outstanding
Common Stock.
T-E has sole power to vote and to dispose of 740,104 shares of Common
Stock, representing approximately 3.2% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 2,447,847 shares of
Common Stock, representing approximately 10.6% of the outstanding Common Stock.
Foreign has sole power to vote and to dispose of 285,613 shares of Common
Stock, representing approximately 1.2% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 2,902,338 shares of
Common Stock, representing approximately 12.6% of the outstanding Common Stock.
By virtue of being the sole shareholder of MJDM Corp., Michael J. Marocco
may be deemed to have shared power to vote and to dispose of 3,187,951 shares of
Common Stock, representing approximately 13.8% 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 and to dispose of
3,187,951 shares of Common Stock, representing approximately 13.8% 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 and to dispose of 3,187,951 shares of Common
Stock, representing approximately 13.8% of the outstanding Common Stock.
Page 30 of 38
<PAGE>
By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may
be deemed to have shared power to vote and to dispose of 3,187,951 shares of
Common Stock, representing approximately 13.8% of the outstanding Common Stock.
Barry Fingerhut has sole power to vote and to dispose of 1,000 shares of
Common Stock, representing approximately 0.01% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia and a
general partner of Wheatley Partners II, L.P., Barry Fingerhut may be deemed to
have shared power to vote and to dispose of 5,775,951 shares of Common Stock,
representing approximately 25.0% of the outstanding Common Stock.
Irwin Lieber has sole power to vote and to dispose of 6,000 shares of
Common Stock, representing approximately 0.01% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia and a
general partner of Wheatley Partners II, L.P., Irwin Lieber may be deemed to
have shared power to vote and to dispose of 5,775,951 shares of Common Stock,
representing approximately 25.0% of the outstanding Common Stock.
Wheatley Partners II, L.P. has sole power to vote and to dispose of
2,588,000 shares of Common Stock, representing approximately 11.2% of the
outstanding Common Stock.
AC Corp. may be deemed to have shared power to vote and to dispose of
2,588,000 shares of Common Stock, representing approximately 11.2% of the
outstanding Common Stock.
By virtue of being a general partner of Wheatley Partners II, L.P. and an
officer of AC Corp., Seth Lieber may be deemed to have shared power to vote and
to dispose of 2,588,000 shares of Common Stock, representing approximately 11.2%
of the outstanding Common Stock.
By virtue of being a general partner of Wheatley Partners II, L.P. and an
officer of AC Corp., Jonathan Lieber may be deemed to have shared power to vote
and to dispose of 2,588,000 shares of Common Stock, representing approximately
11.2% of the outstanding Common Stock.
Woodland Partners may be deemed to have shared power to vote and to dispose
of 463,000 shares of Common Stock (including 125,000 shares issuable upon the
exercise of the Non-Qualified Option and 50,000 shares issuable upon the
exercise of the Option), representing approximately 2.0% of the outstanding
Common Stock.
By virtue of being a general partner of Woodland Partners, a Trustee of the
Foundation, an officer of Woodland Services Corp. and the wife of Barry
Rubenstein, Marilyn Rubenstein may be deemed to have shared power to vote and to
dispose of 463,000 shares of Common stock (including 125,000 shares issuable
upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon
the exercise of the Option), representing approximately 2.0% of the outstanding
Common Stock.
Page 31 of 38
<PAGE>
The Foundation may be deemed to have shared power to vote and to dispose of
463,000 shares of Common Stock (including 125,000 shares issuable upon the
exercise of the Non-Qualified Option and 50,000 shares issuable upon the
exercise of the Option), representing approximately 2.0% of the outstanding
Common Stock.
By virtue of being the sole shareholder of SERF Corp., Douglas Schimmel may
be deemed to have shared power to vote and to dispose of 3,187,951 shares of
Common Stock, representing approximately 13.8% of the outstanding Common Stock.
By virtue of being the sole shareholder of TERPSI Corp., Hannah Stone may
be deemed to have shared power to vote and to dispose of 3,187,951 shares of
Common Stock, representing approximately 13.8% of the outstanding Common Stock.
By virtue of being the sole shareholder of JIRAKAL Corp., David Lee may be
deemed to have shared power to vote and to dispose of 3,187,951 shares of Common
Stock, representing approximately 13.8% of the outstanding Common Stock.
(c) The following is a description of all transactions in the securities of
the Issuer by the persons identified in Item 2 of this Schedule 13D effected
from October 13, 1999 through January 6, 2000, inclusive:
<TABLE>
<CAPTION>
Date Purchased Number of Shares Price Per
Name of Shareholder (Sold) Purchased or (Sold) Share
- ------------------- ------ ------------------- -----
<S> <C> <C> <C>
Barry Rubenstein 12/31/99 (100,000) $ 7.50
Barry Rubenstein 12/28/99 (110,000) $ 7.4375
Rollover IRA
Woodland Venture Fund 12/14/99 (114,000) $ 10.125
12/16/99 (100,415) $ 7.875
12/29/99 (50,000) $ 8.875
12/31/99 (100,000) $ 7.50
Seneca Ventures 12/15/99 (75,000) $ 8.625
12/16/99 (68,636) $ 7.875
12/29/99 (50,000) $ 8.875
12/31/99 (100,000) $ 7.50
21st Century Communications 12/14/99 (169,507) $ 10.125
Partners, L.P.
12/15/99 (135,606) $ 8.625
12/21/99 (101,704) $ 7.4375
12/23/99 (67,800) $ 7.1875
</TABLE>
Page 32 of 38
<PAGE>
<TABLE>
<CAPTION>
Date Purchased Number of Shares Price Per
Name of Shareholder (Sold) Purchased or (Sold) Share
- ------------------- ------ ------------------- -----
<S> <C> <C> <C>
12/30/99 (101,700) $ 7.50
12/31/99 (124,852) $ 7.50
12/31/99 (10,748) $ 7.50
1/5/00 (98,314) $ 6.5625
1/6/00 (101,704) $ 6.9375
21st Century Communications 12/14/99 (57,673) $ 10.125
T-E Partners, L.P.
12/15/99 (46,138) $ 8.625
12/21/99 (34,603) $ 7.4375
12/23/99 (23,000) $ 7.1875
12/30/99 (34,600) $ 7.50
12/31/99 (46,000) $ 7.50
1/5/00 (158) $ 6.5625
1/5/00 ( 33,292) $ 6.5625
1/6/00 (34,604) $ 6.9375
21st Century Communications 12/14/99 (22,820) $ 10.125
Foreign Partners, L.P.
12/15/99 (18,256) $ 8.625
12/21/99 (13,693) $ 7.4375
12/23/99 (9,200) $ 7.1875
12/30/99 (13,700) $ 7.50
12/31/99 (11,941) $ 7.50
12/31/99 (6,459) $ 7.50
1/5/00 (13,236) $ 6.5625
1/6/00 (13,692) $ 6.9375
Woodland Partners 12/14/99 (35,714) $ 10.125
12/14/99 (114,286) $ 10.125
12/15/99 (203,467) $ 8.625
12/16/99 (132,247) $ 7.875
Wheatley Partners II, L.P. 12/14/99 (400,000) $ 10.125
12/15/99 (346,533) $ 8.625
</TABLE>
Page 33 of 38
<PAGE>
<TABLE>
<CAPTION>
Name of Shareholder (Sold) Purchased or (Sold) Share
- ------------------- ------ ------------------- -----
<S> <C> <C> <C>
12/21/99 (200,000) $ 7.4375
12/28/99 (500,000) $ 7.4375
12/29/99 (200,000) $ 8.53125
12/30/99 (300,000) $ 7.50
12/30/99 (63,000) $ 7.53125
12/31/99 (506,000) $ 7.50
1/5/00 (300,000) $ 6.5625
1/6/00 (68,000) $ 7.125
1/6/00 (275,000) $ 6.9375
The Marilyn & Barry 12/14/99 (104,237) $ 10.875
Rubenstein Family Foundation
</TABLE>
All sales of shares of Common Stock were effected in open market
transactions in the over-the-counter market.
On December 14, 1999, Woodland Partners converted 360 shares of Series D
Preferred Stock into 450,000 shares of the Common Stock of the Issuer.
On December 17, 1999, Wheatley Partners II, L.P., Woodland Venture Fund and
Seneca Ventures converted 4,000 shares, 240 shares and 160 shares of Series D
Preferred Stock, respectively, into 5,000,000 shares, 300,000 shares and 200,000
shares, respectively, of the Common Stock of the Issuer.
On December 20, 1999, 21st Century Communications Partners, L.P., 21st
Century Communications T-E Partners, L.P. and 21st Century Communications
Foreign Partners, L.P, converted 1898.4 shares, 646.4 shares and 255.2 shares of
Series D Preferred Stock, respectively, into 2,373,000 shares, 808,000 shares
and 319,000 shares, respectively, of the Common Stock of the Issuer.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Effective December 14, 1999, Brian Rubenstein and Rebecca Rubenstein
ceased to be beneficial owners of more than 5% of the Common Stock of this
Issuer.
Page 34 of 38
<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 4, 2000 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
WHEATLEY PARTNERS II, L.P.
/s/Irwin Lieber
--------------------------
Irwin Lieber,
A General Partner
APPLEWOOD CAPITAL CORP.
/s/Irwin Lieber
--------------------------
Irwin Lieber,
Secretary and Treasurer
/s/Barry Rubenstein
--------------------------
Barry Rubenstein
/s/Barry Fingerhut
--------------------------
Barry Fingerhut
Page 35 of 38
<PAGE>
/s/Irwin Lieber
--------------------------
Irwin Lieber
/s/Jonathan Lieber
--------------------------
Jonathan Lieber
/s/Seth Lieber
--------------------------
Seth Lieber
/s/Marilyn Rubenstein
--------------------------
Marilyn Rubenstein
THE MARILYN AND BARRY
RUBENSTEIN FAMILY
FOUNDATION
By:/s/Barry Rubenstein
--------------------------
Barry Rubenstein, a Trustee
*
--------------------------
Brian Rubenstein
*
--------------------------
Rebecca Rubenstein
* By:/s/Barry Rubenstein
- --------------------------
Barry Rubenstein
Attorney-in-Fact
Page 36 of 38
<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/Edward Grinacoff
-----------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
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/Edward Grinacoff
-----------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
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/Edward Grinacoff
-----------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
Page 37 of 38
<PAGE>
/s/Michael J. Marocco
------------------------------------
Michael J. Marocco
/s/John Kornreich
------------------------------------
John Kornreich
/s/Harvey Sandler
------------------------------------
Harvey Sandler
/s/Andrew Sandler
------------------------------------
Andrew Sandler
/s/Douglas Schimmel
------------------------------------
Douglas Schimmel
/s/Hannah Stone
------------------------------------
Hannah Stone
/s/David Lee
------------------------------------
David Lee
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
Page 38 of 38
