UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Talk.com, Inc.
(formerly Tel-Save Holdings, Inc.)
-------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
--------------------------------------
(Title of Class of Securities)
879176105
--------------
(CUSIP Number)
January 28, 2000
------------------------------------------------------
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
( ) Rule 13d-1(b)
(x) Rule 13d-1(c)
( ) Rule 13d-1(d)
(Page 1 of 5 Pages)
<PAGE>
CUSIP No. 879176105 13G Page 2 of 5 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON Seth Tobias
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION U.S.
- --------------------------------------------------------------------------------
NUMBER OF 5) SOLE VOTING POWER
SHARES ------------------------------------------------------------------
BENEFICIALLY 6) SHARED VOTING POWER
OWNED BY ------------------------------------------------------------------
EACH 7) SOLE DISPOSITIVE POWER
REPORTING ------------------------------------------------------------------
PERSON WITH 8) SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
10) CHECK IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
- --------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON: IN
- --------------------------------------------------------------------------------
Item 1(a). Name of Issuer:
- ---------- ---------------
Talk.com, Inc. (formerly, Tel-Save.com, Inc.)
Item 1(b). Address of Issuer's Principal Executive Offices:
- ---------- ------------------------------------------------
12020 Subrise Valley Drive
Reston, VA 20190
Item 2(a). Name of Person Filing:
- ---------- ----------------------
Seth Tobias
Item 2(b). Address of Principal Business Office:
- ---------- -------------------------------------
250 Glenmoor Road
Gladwyne, PA 19035
Item 2(c). Citizenship:
- --------- ------------
United States
Item 2(d). Title of Class of Securities:
- ---------- -----------------------------
Common Stock
Item 2(d). CUSIP Number:
- ---------- -------------
879176105
Page 2 of 5 Pages
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If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or Item 3.
(c), check whether the person filing is a: -------
(a) [ ] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act.
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act.
(e) [ ] An investment advisor in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [ ] A church plan that is excluded form the definition of an investment
company under section 3(c)(14) of the Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)1)(ii)(J).
Item 4. Ownership.
- -------
(a) Amount Beneficially Owned:
(b) Percent of Class:
(c) Number of Shares to which such person has:
(i) Sole power to vote or direct the vote:
(ii) Shared power to vote or direct the vote:
(iii) Sole power to dispose or to direct the deposition of:
(iv) Shared power to dispose or to direct the disposition of:
Page 3 of 5 Pages
<PAGE>
Item 5. Ownership of Five Percent or Less of a Class.
- ------
If this statement is being filed to report the fact that as of the date of
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [x].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
- ------
As of December 31, 1998, the Reporting Person disposed of some the trust's
beneficial ownership of Common Stock of Tel-Save.com, Inc. (the "Company") and
acquired convertible notes of the issuer.
Item 7. Identification and Classification of the Subsidiary Which acquired the
- ------ Security Being Reported on By the Parent Holding Company
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
- ------
Not Applicable.
Item 9. Notice of Dissolution of the Group
- -------
Not Applicable.
Page 4 of 5 Pages
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Item 10. Certification.
- --------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonably 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.
January 28, 2000
------------------------------
Date
/s/ Seth Tobias
------------------------------
Signature
Seth Tobias
------------------------------
Seth Tobias, Trustee
Page 5 of 5 Pages
