UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2 )*
HEALTHCARE ACQUISITION CORP.
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(Name of Issuer)
COMMON STOCK $0.001 PAR VALUE
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(Title of Class of Securities)
421923103
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(CUSIP Number)
Copy to: Stephen A. Cohen, Esq.
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
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 10, 1997
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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.
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* 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. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Partners
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
WC, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
New York
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7 Sole Voting Power
Number of
Shares 25,000 shares 1.2%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 202,300 shares 9.6%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
25,000 shares 1.2%
--------------------------------------------------------
10 Shared Dispositive Power
202,300 shares 9.6%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
PF, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
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7 Sole Voting Power
Number of
Shares 62,300 shares 3.0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 165,000 shares 7.9%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
62,300 shares 3.0%
--------------------------------------------------------
10 Shared Dispositive Power
165,000 shares 7.9%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
PF, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
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7 Sole Voting Power
Number of
Shares 20,000 shares 1.0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 207,300 shares 9.9%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
20,000 shares 1.0%
--------------------------------------------------------
10 Shared Dispositive Power
207,300 shares 9.9%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Venture Fund
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
WC, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
New York
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7 Sole Voting Power
Number of
Shares 50,000 shares 2.4%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 177,300 shares 8.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
50,000 shares 2.4%
--------------------------------------------------------
10 Shared Dispositive Power
177,300 shares 8.4%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seneca Ventures
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
WC, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
New York
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7 Sole Voting Power
Number of
Shares 50,000 shares 2.4%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 177,300 shares 8.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
50,000 shares 2.4%
--------------------------------------------------------
10 Shared Dispositive Power
177,300 shares 8.4%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Services Corp.
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
New York
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7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 227,300 shares 10.8%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
227,300 shares 10.8%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Marilyn and Barry Rubenstein Family Foundation
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
New York
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7 Sole Voting Power
Number of
Shares 20,000 shares 1.0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 207,300 shares 9.9%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
20,000 shares 1.0%
--------------------------------------------------------
10 Shared Dispositive Power
207,300 shares 9.9%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
227,300 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
10.8%
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14 Type of Reporting Person*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 421923103
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Brian Rubenstein
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds*
OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
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7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 20,000 shares 1.0%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
20,000 shares 1.0%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
20,000 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
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13 Percent of Class Represented By Amount in Row (11)
1.0%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This statement, dated March 10, 1997, constitutes Amendment No. 2 to the
Schedule 13D, dated March 8, 1996, regarding the reporting persons' ownership of
Common Stock of Healthcare Acquisition Corp. (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 2 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
by the reporting persons. Pursuant to Rule 13d-2, it shall state the information
which has materially changed since the filing of the Schedule.
ITEM 5. Interests in Securities of Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 2,100,000 shares of Common Stock outstanding as reported by
the Issuer's Form 10-Q for the quarter ended September 30, 1996) of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of March 10, 1997:
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(1) Beneficially Owned(1)
- ---- --------------------- ---------------------
Woodland Partners 227,300(2) 10.8%
Barry Rubenstein 227,300(3) 10.8%
Marilyn Rubenstein 227,300(4) 10.8%
Seneca Ventures 227,300(5) 10.8%
Woodland Venture Fund 227,300(6) 10.8%
Woodland Services Corp. 227,300(7) 10.8%
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(1) Does not include shares of Common Stock issuable upon the exercise of the
Warrants or the Bridge Warrants.
(2) Woodland Partners disclaims beneficial ownership of 62,300 shares of
Common Stock held in Barry Rubenstein's Rollover IRA account, 20,000
shares of Common Stock owned by Marilyn Rubenstein, 50,000 shares of
Common Stock owned by Seneca, 50,000 shares of Common Stock owned by Fund
and 20,000 shares of Common Stock owned by the Foundation.
(3) 22,500 shares of Common Stock beneficially owned by Barry Rubenstein
represents his equity interest in Woodland Partners. Mr. Rubenstein
disclaims beneficial ownership of 2,500 shares of Common Stock held by
Woodland Partners (which represents his wife's equity interest in Woodland
Partners), 20,000 shares of Common Stock owned individually by his wife,
Marilyn Rubenstein, 39,000 shares of Common stock owned by Seneca, and
32,971 shares of Common Stock owned by Fund.
(4) 2,500 shares of Common Stock represents Mrs. Rubenstein's equity interest
in Woodland Partners, and 4,742 shares of Common Stock represents Mrs.
Rubenstein's equity interest as a limited partner of Seneca. Mrs.
Rubenstein disclaims beneficial ownership of 22,500 shares of Common Stock
held by Woodland Partners (which represents her husband's equity interest
in Woodland Partners), 62,300 shares of Common Stock held in Barry
Rubenstein's Rollover IRA Account, 45,258 shares of Common Stock owned by
Seneca, and 50,000 shares of Common Stock owned by Fund.
(5) Seneca disclaims beneficial ownership of 25,000 shares of Common Stock
owned by Woodland Partners, 62,300 shares of Common Stock held in Barry
Rubenstein's Rollover IRA account, 20,000 shares of Common Stock owned
individually by Marilyn Rubenstein, 50,000 shares of Common Stock owned by
the Fund, and 20,000 shares of Common Stock owned by the Foundation.
(6) Fund disclaims beneficial ownership of 25,000 shares of Common Stock owned
by Woodland Partners, 62,300 shares of Common Stock held in Barry
Rubenstein's Rollover IRA account, 20,000 shares of Common Stock owned
individually by Marilyn Rubenstein, 50,000 shares of Common Stock owned by
Seneca, and 20,000 shares of Common Stock owned by the Foundation.
(7) 76 shares of Common Stock beneficially owned by Services represents its
equity interest in Fund, and 83 shares of Common Stock beneficially owned
by Services represents its equity interest in Seneca. Services disclaims
beneficial ownership of 25,000 shares of Common Stock owned by Woodland
Partners, 62,300 shares of Common Stock held in Mr. Rubenstein's Rollover
IRA account, 20,000 shares of Common Stock held individually by Mrs.
Rubenstein, 49,924 shares of Common Stock owned by Fund, 49,917 shares of
Common Stock owned by Seneca, and 20,000 shares of Common Stock owned by
the Foundation.
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(1) Beneficially Owned(1)
- ---- --------------------- ---------------------
The Marilyn and Barry Rubenstein
Family Foundation 227,300(8) 10.8%
Brian Rubenstein 20,000(9) 1.0%
(b) By virtue of being a general partner of Woodland Partners, Seneca, and
Fund, husband of Marilyn Rubenstein and a Trustee of the Foundation, Barry
Rubenstein may be deemed to have shared power to vote and to dispose of 165,000
shares of Common Stock representing approximately 7.9% of the outstanding Common
Stock. Barry Rubenstein has sole power to vote and dispose of 62,300 shares of
Common Stock currently held in his Rollover IRA account, representing
approximately 3.0% of the outstanding Common Stock.
By virtue of being a general partner of Woodland Partners, wife of
Barry Rubenstein, Marilyn Rubenstein may be deemed to have shared power to vote
and to dispose of 207,300 shares of Common Stock representing approximately 9.9%
of the outstanding Common Stock. Marilyn Rubenstein has sole power to vote and
dispose of 20,000 shares of Common Stock, representing approximately 1.0% of the
outstanding Common Stock.
Woodland Partners has sole power to vote and dispose of 25,000
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
202,300 shares of Common Stock, representing approximately 9.6% of the
outstanding Common Stock.
Seneca has sole power to vote and dispose of 50,000 shares of Common
Stock, representing approximately 2.4% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 177,300 shares of
Common Stock, representing approximately 8.4% of the outstanding Common Stock.
Fund has sole power to vote and dispose of 50,000 shares of Common
Stock, representing approximately 2.4% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 177,300 shares of
Common Stock, representing approximately 8.4% of the outstanding Common Stock.
Services may be deemed to have shared power to vote and to dispose
of 227,300 shares of Common Stock, representing approximately 10.8% of the
outstanding Common Stock.
- --------
(8) The Foundation disclaims beneficial ownership of 25,000 shares of Common
Stock owned by Woodland Partners, 62,300 shares of Common Stock held in
Mr. Rubenstein's Rollover IRA account, 20,000 shares of Common Stock owned
individually by Marilyn Rubenstein, 50,000 shares of Common Stock owned by
Fund, and 50,000 shares of Common Stock owned by Seneca.
(9) Consists of 20,000 shares of Common Stock owned by the Foundation.
<PAGE>
The Foundation has sole power to vote and dispose of 20,000 shares
of Common Stock, representing approximately 1.0% of the outstanding Common Stock
and may be deemed to have shared power to vote and to dispose of 207,300 shares
of Common Stock, representing approximately 9.9% 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 February 15, 1997 through March 10, 1997, inclusive.
Purchase or Number of Shares (S) Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Barry Rubenstein -
Rollover IRA 2/18/97 (8,500) $5.16
2/24/97 (3,000) $5.09
3/05/97 (6,500) $5.13
3/07/97 (2,000) $5.13
Woodland Partners 3/10/97 (25,000) $5.16
The transactions were affected in the over-the-counter market.
(d) No other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
<PAGE>
Signature
After reasonable inquiry and to the best of his or her knowledge and
belief, each of the undersigned hereby certifies that the information set forth
in this Schedule is true, complete, and correct.
Date: March 11, 1997
/s/ Barry Rubenstein
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Barry Rubenstein, individually, as General Partner on
behalf of Woodland Partners, Seneca Ventures, and
Woodland Venture Fund, as President of Woodland
Services Corp., and as Trustee of The Marilyn and
Barry Rubenstein Family Foundation
/s/ Marilyn Rubenstein
-----------------------------------------------------
Marilyn Rubenstein
*
-----------------------------------------------------
Brian Rubenstein
*By: /s/ Barry Rubenstein
--------------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
