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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 3 )
Under the Securities Exchange Act of 1934
Century Business Services, Inc.
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
458875 10 1
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(CUSIP Number)
Michael A. Ellis, Esq.
Kahn, Kleinman, Yanowitz & Arnson Co., L.P.A.
2600 Tower at Erieview
1301 E. Ninth Street
Cleveland, Ohio 44114
(216) 736-3348
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 31, 1998
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(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 [ ].
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).
MAE\NMM\231050.1
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SCHEDULE 13D
<TABLE>
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CUSIP No. 458875 10 1 Page 2 of 3 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sophia Management Ltd. - 31-1525430
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)o
(b)o
Not applicable
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
Not applicable
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5 Check If Disclosure of Legal Proceedings
Is Required Pursuant to Items 2(d) or 2(e) [ ]
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6 Citizenship or Place of Organization
OHIO
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 3,873,132
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OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
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PERSON WITH 9 SOLE DISPOSITIVE POWER
3,873,132
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,873,132
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* o
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.2%
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14 TYPE OF REPORTING PERSON*
00
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</TABLE>
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ITEM 5. INTEREST IN SECURITIES OF ISSUER
(a) As of July 31, 1998, Sophia Management Ltd. ("Sophia") beneficially owned
an aggregate of 3,873,132 shares of Century Business Services, Inc. ("CBIZ")
Common Stock, which includes warrants to purchase 1,325,710 shares of Common
Stock, representing approximately 7.2% of the approximately 54.14 million shares
of Common Stock deemed outstanding as of June 30, 1998 (52.813 million
outstanding, plus Sophia warrant shares).
(b) As of July 31, 1998, Sophia had sole investment and voting power with
respect to the 3,873,132 shares of Common Stock, which includes warrants to
purchase 1,325,710 shares of Common Stock.
(c) Within the last 60 days, the Reporting Person effected the following
transaction not previously reported.
On July 31, 1997, Sophia exchanged 237,300 CBIZ shares in
extinguishment of $2,980,000 of indebtedness of Sophia. Simultaneously
therewith, Sophia distributed 506,431 CBIZ shares and warrants to acquire
153,787 additional CBIZ shares in full or partial redemption of membership
interests in Sophia. The foregoing included 121,213 CBIZ shares and warrants to
acquire 153,787 additional shares distributed to a retiring officer of CBIZ.
SIGNATURE
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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.
SOPHIA MANAGEMENT LTD.
Dated: August 10, 1998 By: /s/ Joseph E. LoConti
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Joseph E. LoConti, Managing Member
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