UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4 )*
CRW Financial, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
126276104
(CUSIP Number)
Eustace W. Mita
308 East Lancaster Avenue
Wynnewood, PA 19096
(610) 896-9202
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 2, 1996
(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 Rule 13d-1(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the statement |_|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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).
<PAGE>
SCHEDULE 13D
CUSIP No. 126276104
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eustace W. Mita
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or (e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 19,100
SHARES _____________________________________________________
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,000
EACH _____________________________________________________
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 19,100
WITH _____________________________________________________
10 SHARED DISPOSITIVE POWER
5,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,100
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
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14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
CRW Financial, Inc. (the "Issuer") Common Stock, par value $0.01 per
share ("Common Stock"). The principal executive offices of CRW Financial, Inc.
are located at 443 South Gulph Road, King of Prussia, PA 19406.
st
Item 2. Identity and Background.
(a) Name: Eustace W. Mita
(b) Residence or business address: 308 East Lancaster Avenue
Wynnewood, PA 19096
(c) Present principal occupation: Managing Director of Half-A-Car, Inc.
308 East Lancaster Avenue
Wynnewood, PA 19096
(d) During the last five years, the Reporting Person has not been
convicted in a criminal proceeding.
(e) During the last five years, the Reporting Person has not been
a party to a civil proceeding the result of which was or is to
enjoin future violations of, or prohibit or mandate activities
subject to, federal or state securities laws or a civil
proceeding finding any violation with respect to such laws.
(f) Citizenship: United States
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable.
Item 4. Purpose of Transaction.
Securities of the Issuer beneficially owned by the Reporting Person as
set forth herein were purchased for investment. The Reporting Person
does not at this time have any plans or proposals with respect to the
issuer as described in Item 4(a)-(j) of Schedule 13D. Subject to
availability, price and applicable laws and regulations, the Reporting
Person may purchase additional shares of Common Stock or other
securities of the Issuer or may sell or otherwise dispose of any or all
of such securities now owned or hereafter acquired on such terms and at
such prices as he may from time to time determine.
Item 5. Interest in Securities of the Issuer.
(a) As of August 23, 1996 the Reporting Person beneficially owned
24,100 shares of Common Stock. This constitutes approximately
2.0% of the outstanding shares of Common Stock.
(b) The Reporting Person currently has (i) sole power to vote or
to direct the vote, and the sole power to dispose or to direct
the disposition of 19,100 shares of the Common Stock
beneficially owned by him and, (ii) shared power to vote or to
direct the vote, and the shared power to dispose or to direct
the disposition of 5,000 shares of Common Stock beneficially
owned by five trusts with respect to five minor children of
the Reporting Person, for which the Reporting Person serves
as co-trustee.
(c) In open-market transactions, the Reporting Person sold 5,700
shares on August 1, 1996 for $190,980, 26,000 shares on
August 2, 1996 for $876,270, 2,500 shares on August 5, 1996
for $88,495, 1,700 shares on August 6, 1996 for $63,995 and
35,000 shares on August 7, 1996 for $1,220,850.
(d) Not applicable.
(e) The Reporting Person became the beneficial owner of less than
5% of the outstanding shares of Common Stock on August 7,
1996.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Eustace Wolfington, the Reporting Person's uncle, owns 71,219 shares of
Common Stock and Brian O'Neill, the Reporting Person's cousin, beneficially owns
773,731 shares of Common Stock (including 605,128 shares of Common Stock
issuable pursuant to exercises of options and warrants to purchase Common Stock
and shares issuable pursuant to conversion of a subordinated convertible note).
On July 19, 1995, Mr. Wolfington, Mr. O'Neill and the Reporting Person had
reached an oral understanding to consider under mutually agreeable circumstances
possibly voting together with respect to certain matters submitted to a vote of
the Company's stockholders. During August 1996, however, such individuals
decided not to further consider voting together with respect to any matter
submitted to a vote of the stockholder of the Company. The Reporting Person
disclaims being part of any group with respect to the Issuer.
Item 7. Material to Be Filed as Exhibits.
None.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: August 26, 1996 /s/ EUSTACE W. MITA
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EUSTACE W. MITA
