-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IhuZ6qaH4+0YeO3ZDygN4LZUIiyG8ilep7Wf0Oe7GXAZiO4zcQ6gmMkHAm81KLGd byxVlxQ+jwgMjByUbmSvMg== /in/edgar/work/20000605/0000921895-00-000429/0000921895-00-000429.txt : 20000919 0000921895-00-000429.hdr.sgml : 20000919 ACCESSION NUMBER: 0000921895-00-000429 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000605 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VCAMPUS CORP CENTRAL INDEX KEY: 0000943742 STANDARD INDUSTRIAL CLASSIFICATION: [8900 ] IRS NUMBER: 541290319 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-48491 FILM NUMBER: 649470 BUSINESS ADDRESS: STREET 1: 1850 CENTENNIAL PARK DR STREET 2: SIUTE 200 CITY: RESTON STATE: VA ZIP: 20191 BUSINESS PHONE: 7038937800 MAIL ADDRESS: STREET 1: 8251 GREENSBORO DRIVE STREET 2: SUITE 500 CITY: MCLEAN STATE: VA ZIP: 22102 FORMER COMPANY: FORMER CONFORMED NAME: UOL PUBLISHING INC DATE OF NAME CHANGE: 19960917 FORMER COMPANY: FORMER CONFORMED NAME: UNIVERSITY ONLINE INC DATE OF NAME CHANGE: 19960903 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WHEATLEY PARTNERS L P CENTRAL INDEX KEY: 0001019868 STANDARD INDUSTRIAL CLASSIFICATION: [ ] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 80 CUTTERMILL ROAD STREET 2: SUITE 311 CITY: GREAT NECK STATE: NY ZIP: 11021 BUSINESS PHONE: 5167730991 SC 13D/A 1 0001.txt SCHEDULE 13D - AMENDMENT NO. 3 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13(d)-2(a) (Amendment No. 3) VCampus Corporation (f/k/a UOL Publishing, Inc.) - -------------------------------------------------------------------------------- (Name of issuer) COMMON STOCK $.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of class of securities) 92240C 10 0 - -------------------------------------------------------------------------------- (CUSIP number) STEVEN WOLOSKY, ESQ. OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP 505 Park Avenue New York, New York 10022 (212) 753-7200 - -------------------------------------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) May 2, 2000 - -------------------------------------------------------------------------------- (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(e), 13d-1(f) or 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 Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 30 Pages) - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 2 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wheatley Partners, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 1,018,901(1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 80,765(2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 1,018,901(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 80,765(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,099,666(1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 3 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P. (2) Includes (i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Wheatley Partners, L.P. disclaims beneficial ownership of these securities. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 4 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 68,994(1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 1,107,508(2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 68,994(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,107,508(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,176,502(1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 5 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (i) 14,771 shares of Common Stock issuable upon exercise of warrants, (ii) 17,904 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Mr. Lieber. (2) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. and (c)(i) 3,545 shares of Common Stock issuable upon exercise of warrants and (ii) 4,297 shares of Common Stock issuable upon conversion of shares of Series C Preferred stock, all of which is owned by one of Mr. Lieber's children and whose shares may be deemed to be beneficially owned by Mr. Lieber. Mr. Lieber disclaims beneficial ownership of these securities (except to the extent of his respective equity interest, in respect of the securities held by Wheatley Partners, L.P. and Wheatley Foreign Partners, L.P.). - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 6 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 519,591 (1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 1,108,666 (2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 519,591 (1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,108,666(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,628,257(1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 7 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (a)(i) 37,814 shares of Common Stock issuable upon exercise of warrants, (ii) 45,835 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, (iii) 22,500 shares of Common Stock issuable upon exercise of options, and (iv) 45,454 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Mr. Fingerhut, and (b)(i) 2,954 shares of Common Stock issuable upon exercise of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by an account for which Mr. Fingerhut has sole voting and dispositive power. (2) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock all of which is held by Wheatley Foreign Partners, L.P. Mr. Fingerhut disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 8 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 9,346(1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 1,099,666(2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 9,346(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,099,666(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,109,012 (1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 9 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (i) 2,954 shares of Common Stock issuable upon conversion of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Mr. Lieber. (2) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Mr. Lieber disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 10 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 6,534(1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 1,099,666(2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 6,534(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,099,666(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,106,200(1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 11 of 30 Pages - ------------------------------ ------------------------------- (1) Consists of (i) 2,954 shares of Common Stock issuable upon conversion of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Mr. Lieber. (2) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Mr. Lieber disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 12 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Dana Lieber - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 7,842(1) shares OWNED BY EACH REPORTING ---------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 0 shares ---------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 7,842(1) shares ---------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,842(1) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ (1) Consists of (i) 3,545 shares of Common Stock issuable upon conversion of warrants and (ii) 4,297 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Ms. Lieber. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 13 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wheatley Foreign Partners, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 80,765(1) shares OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER 1,018,901(2) shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 80,765(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,018,901(2) shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,099,666(1)(2) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 14 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. (2) Includes (i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P. Wheatley Foreign Partners, L.P. disclaims beneficial ownership of these securities. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 15 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 13,069 (1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 0 shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 13,069 (1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,069(1)shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ (1) Includes (i) 7,161 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (ii) 5,908 shares of Common Stock issuable upon exercise of warrants, all of which is held by Seneca Ventures. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 16 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 75,528(1) shares OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER 0 shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 75,528(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 75,528(1) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 17 of 30 Pages - ------------------------------ ------------------------------- (1) Includes (i) 17,725 shares of Common Stock issuable upon exercise of warrants, (ii) 21,484 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Woodland Partners. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 18 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 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 OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 13,069(1) shares OWNED BY EACH REPORTING ----------------------------------------------------------------- PERSON WITH 8 SHARED VOTING POWER 0 shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 13,069(1) shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,069(1) shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN ================================================================================ (1) Includes (i) 7,161 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 5,908 shares of Common Stock issuable upon exercise of warrants, all of which is held by Woodland Venture Fund. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 19 of 30 Pages - ------------------------------ ------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Pamela Fingerhut - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 9,000 shares OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER 0 shares ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 9,000 shares ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,000 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 20 of 30 Pages - ------------------------------ ------------------------------- The following constitutes Amendment No. 3 ("Amendment No. 3") to Schedule 13D filed by the undersigned. This Amendment No. 3 amends the Schedule 13D as specifically set forth. Item 2 is hereby amended to add the following: Item 2. Identity and Background. 16. (a) Pamela Fingerhut (b) Address: 80 Cuttermill Road Suite 311 Great Neck, NY 11021 (c) Principal Business: Investments (f) Citizenship: United States Item 3 is hereby amended to add the following: Item 3. Source and Amount of Funds or Other Consideration. The aggregate purchase price of the 213,400 shares of Common Stock purchased by Barry Fingerhut since the filing of Amendment No. 2 of this Schedule 13D with the Securities and Exchange Commission on September 15, 1999 is $1,242,488 and were acquired with his personal funds and other funds. The aggregate purchase price of the 9,000 shares of Common Stock held by Pamela Fingerhut is $79,352.80 and were acquired with her personal funds and her other funds. Item 5. (a) and (b) are hereby amended to read in their entirety as follows: Item 5. Interest in Securities of the Issuer. (a) The following table sets forth the aggregate number and percentage (based on 8,075,575 shares of Common Stock outstanding as of May 12, 2000 as reported in the Company's report for the quarter ended March 31, 2000 on Form 10-Q filed with the Securities and Exchange Commission on May 15, 2000) of Common Stock beneficially owned by each person named in Item 2 of this Schedule 13D, as amended.
Shares of Common Percentage of Shares Stock of Common Stock Name Beneficially Owned Beneficially Owned - ---- ------------------ ------------------ Wheatley Partners, L.P.(1) 1,099,666 12.4 Barry Rubenstein(2) 1,201,332 13.4 Irwin Lieber(3) 1,176,502 13.2 Barry Fingerhut(4) 1,628,257 18.0
- ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 21 of 30 Pages - ------------------------------ -------------------------------
Shares of Common Percentage of Shares Stock of Common Stock Name Beneficially Owned Beneficially Owned - ---- ------------------ ------------------ Wheatley Partners, LLC(5) 1,099,666 12.4 Seth Lieber(6) 1,109,012 12.5 Jonathan Lieber(7) 1,106,200 12.5 Wheatley Management Ltd.(8) 80,765 1.0 Wheatley Foreign Partners, L.P.(9) 1,099,666 12.4 Woodland Partners(10) 75,528 0.9 Marilyn Rubenstein(11) 101,666 1.2 Seneca Ventures(12) 13,069 0.2 Woodland Venture Fund(13) 13,069 0.2 Woodland Services Corp.(14) 26,138 0.3 Dana Lieber(15) 7,842 0.1 Pamela Fingerhut 9,000 0.1
- --------------------- (1) Includes (i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P. Also includes (i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Wheatley Partners, L.P. disclaims beneficial ownership of these securities. (2) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P., (c)(i) 17,725 shares of Common Stock issuable upon exercise of warrants, (ii) 21,484 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 22 of 30 Pages - ------------------------------ ------------------------------- by Woodland Partners and (d)(i) 11,816 shares of Common Stock issuable upon exercise of warrants and (ii) 14,322 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, one-half of which is held by each of the Woodland Venture Fund and Seneca Ventures. Mr. Rubenstein disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. (3) Includes (i) 14,771 shares of Common Stock issuable upon exercise of warrants, (ii) 17,904 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Mr. Lieber. Also includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. and (c)(i) 3,545 shares of Common Stock issuable upon exercise of warrants and (ii) 4,297 shares of Common Stock issuable upon conversion of shares of Series C Preferred stock, all of which is owned by one of Mr. Lieber's children and whose shares may be deemed to be beneficially owned by Mr. Lieber. Mr. Lieber disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. (4) Includes (a)(i) 37,814 shares of Common Stock issuable upon exercise of warrants, (ii) 45,835 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, (iii) 22,500 shares of Common Stock issuable upon exercise of options and (iv) 45,454 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Mr. Fingerhut, and (b)(i) 2,954 shares of Common Stock issuable upon exercise of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by an account for which Mr. Fingerhut has sole voting and dispositive power. Also includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Mr. Fingerhut disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. (5) Includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 23 of 30 Pages - ------------------------------ ------------------------------- Wheatley Partners, LLC disclaims beneficial ownership of these securities, except to the extent of its respective equity interest therein. (6) Includes (i) 2,954 shares of Common Stock issuable upon conversion of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Mr. Lieber. Also includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Mr. Lieber disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. (7) Consists of (i) 2,954 shares of Common Stock issuable upon conversion of warrants and (ii) 3,580 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Mr. Lieber. Also includes (a)(i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P., and (b)(i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Mr. Lieber disclaims beneficial ownership of these securities, except to the extent of his respective equity interest therein. (8) Includes (i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Wheatley Management, Ltd. disclaims beneficial ownership of these securities, except to the extent of its equity interest therein. (9) Includes (i) 14,805 shares of Common Stock issuable upon exercise of warrants, (ii) 17,945 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 28,474 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Foreign Partners, L.P. Also includes (i) 174,266 shares of Common Stock issuable upon exercise of warrants, (ii) 211,231 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 335,162 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Wheatley Partners, L.P. Wheatley Foreign Partners, L.P. disclaims beneficial ownership of these securities. (10) Includes (i) 17,725 shares of Common Stock issuable upon exercise of warrants, (ii) 21,484 shares of Common Stock issuable upon conversion of - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 24 of 30 Pages - ------------------------------ ------------------------------- shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Woodland Partners. (11) Includes (a)(i) 17,725 shares of Common Stock issuable upon exercise of warrants, (ii) 21,484 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock and (iii) 18,181 shares of Common Stock issuable upon conversion of shares of Series D Preferred Stock, all of which is held by Woodland Partners and (b)(i) 11,816 shares of Common Stock issuable upon exercise of warrants and (ii) 14,322 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, one-half of which is held by each of the Woodland Venture Fund and Seneca Ventures. Mrs. Rubenstein disclaims beneficial ownership of these securities, except to the extent of her respective equity interest therein. (12) Consists of (i) 5,908 shares of Common Stock issuable upon exercise of warrants and (ii) 7,161 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Seneca Ventures. (13) Consists of (i) 5,908 shares of Common Stock issuable upon exercise of warrants and (ii) 7,161 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Woodland Venture Fund. (14) Consists of (i) 11,816 shares of Common Stock issuable upon exercise of warrants and (ii) 14,322 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, one-half of which is held by each of the Woodland Venture Fund and Seneca Ventures. Woodland Services Corp. disclaims beneficial ownership of these securities, except to the extent of its respective equity interest therein. (15) Consists of (i) 3,545 shares of Common Stock issuable upon exercise of warrants and (ii) 4,297 shares of Common Stock issuable upon conversion of shares of Series C Preferred Stock, all of which is held by Ms. Lieber. (b) Wheatley has sole power to vote and dispose of 1,018,901 shares of Common Stock, representing approximately 11.5% of the outstanding shares of Common Stock and may be deemed to have shared power to vote and dispose of 80,765 shares of Common Stock, representing approximately 1.0% of the outstanding shares of Common Stock. Wheatley Foreign has sole power to vote and dispose of 80,765 shares of Common Stock, representing approximately 1.0% of the outstanding shares of Common Stock and may be deemed to have shared power to vote and dispose of 1,018,901 shares of Common Stock, representing approximately 11.5% of the outstanding shares of Common Stock. By virtue of being a general partner of Wheatley Foreign, Wheatley Management, Ltd. may be deemed to have shared power to vote and dispose of 80,765 shares of Common Stock, representing approximately 1.0% of the outstanding shares of Common Stock. By virtue of being the general partner of Wheatley and a general partner of Wheatley Foreign, Wheatley Partners, LLC ("Wheatley LLC") may be deemed to have shared power to vote and dispose of 1,099,666 shares of Common Stock, representing approximately 12.4% of the outstanding shares of Common Stock. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 25 of 30 Pages - ------------------------------ ------------------------------- By virtue of his being a member and Chief Executive Officer of Wheatley LLC, a general partner of Woodland Partners, Seneca Ventures and Woodland Venture Fund and the President and sole shareholder of Woodland Services Corp., Barry Rubenstein may be deemed to have shared power to vote and dispose of 1,201,332 shares of Common Stock, representing approximately 13.4% of the outstanding shares of Common Stock. Irwin Lieber has sole power to vote and dispose of 68,994 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock and by virtue of his being a member and President, Secretary and Treasurer of Wheatley LLC and Ms. Dana Lieber's father, Mr. Lieber may be deemed to have shared power to vote and dispose of 1,107,508 shares of Common Stock, representing approximately 12.4% of the outstanding shares of Common Stock. Barry Fingerhut has sole power to vote and dispose of 519,591 shares of Common Stock, representing approximately 6.3% of the outstanding shares of Common Stock and by virtue of his being a member and Executive Vice President of Wheatley LLC, Mr. Fingerhut may be deemed to have shared power to vote and dispose of 1,108,666 shares of Common Stock, representing approximately 12.5% of the outstanding shares of Common Stock. Jonathan Lieber has sole power to vote and dispose of 6,534 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock and by virtue of his being a member and Vice President of Wheatley LLC, Mr. Lieber may be deemed to have shared power to vote and dispose of 1,099,666 shares of Common Stock, representing approximately 12.4% of the outstanding shares of Common Stock. Seth Lieber has sole power to vote and dispose of 9,346 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock and by virtue of his being a member and Vice President of Wheatley LLC, Mr. Lieber may be deemed to have shared power to vote and dispose of 1,099,666 shares of Common Stock, representing approximately 12.4% of the outstanding shares of Common Stock. Woodland Partners has sole power to vote and dispose of 75,528 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. By virtue of her being a general partner of Woodland Partners and the Secretary and Treasurer of Woodland Services Corp., a general partner of Seneca Ventures and Woodland Venture Fund, Marilyn Rubenstein may be deemed to have shared power to vote and dispose of 101,666 shares of Common Stock, representing approximately 1.2% of the outstanding shares of Common Stock. Seneca Ventures has sole power to vote and dispose of 13,069 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. Woodland Venture Fund has sole power to vote and dispose of 13,069 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. By virtue of its being a general partner of Seneca Ventures and Woodland Venture Fund, Woodland Services Corp. may be deemed to have shared power to vote and dispose of 26,138 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. Dana Lieber has sole power to vote and dispose of 7,842 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 26 of 30 Pages - ------------------------------ ------------------------------- Pamela Fingerhut has sole power to vote and dispose of 9,000 shares of Common Stock, representing less than 1.0% of the outstanding shares of Common Stock. Item 5(c) is supplemented as follows: (c) The following transactions occurred within the last 60 days of the filing of this Schedule 13 Amendment No. 3. All the transactions were open market purchases. Reporting Person Date Buy/Sell Quantity Price ------ ---- -------- -------- ----- Barry Fingerhut May 2, 2000 Buy 46,000 $8.2167 Barry Fingerhut May 3, 2000 Buy 22,500 $8.3692 Barry Fingerhut May 4, 2000 Buy 17,500 $8.4643 Barry Fingerhut May 5, 2000 Buy 12,500 $9.0925 Barry Fingerhut May 8, 2000 Buy 17,200 $9.1199 Barry Fingerhut May 9, 2000 Buy 2,500 $8.5000 Barry Fingerhut May 10, 2000 Buy 4,200 $8.3512 Barry Fingerhut May 11, 2000 Buy 11,000 $8.9290 Pamela Fingerhut May 16, 2000 Buy 3,000 $8.9092 Pamela Fingerhut May 17, 2000 Buy 1,000 $8.5000 Pamela Fingerhut May 18, 2000 Buy 4,000 $8.7813 Pamela Fingerhut May 19, 2000 Buy 1,000 $9.0000 Item 7 is hereby amended to read as follows: Item 7. Material to be Filed as Exhibits. 1. Joint Filing Agreement, as amended, dated June 5, 2000. - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 27 of 30 Pages - ------------------------------ ------------------------------- SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: June 5, 2000 WHEATLEY PARTNERS, L.P. By: Wheatley Partners, LLC, a General Partner By: /s/ Irwin Lieber ----------------------------------- Irwin Lieber, President /s/ Irwin Lieber ----------------------------------------- Irwin Lieber /s/ Barry Fingerhut ----------------------------------------- Barry Fingerhut /s/ Pamela Fingerhut ----------------------------------------- Pamela Fingerhut /s/ Seth Lieber ----------------------------------------- Seth Lieber /s/ Jonathan Lieber ----------------------------------------- Jonathan Lieber /s/ Dana Lieber ----------------------------------------- Dana Lieber WHEATLEY FOREIGN PARTNERS, L.P. By: Wheatley Partners, LLC, a General Partner By: /s/ Irwin Lieber -------------------------------------- Irwin Lieber, President SENECA VENTURES By: /s/ Barry Rubenstein ------------------------------------- Barry Rubenstein, a General Partner WOODLAND PARTNERS By: /s/ Barry Rubenstein ------------------------------------- Barry Rubenstein, a General Partner WOODLAND VENTURE FUND By: /s/ Barry Rubenstein -------------------------------------- Barry Rubenstein, a General Partner - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 28 of 30 Pages - ------------------------------ ------------------------------- EXHIBIT INDEX Exhibit Page - ------- ---- A. Joint Filing Agreement, as amended 29 - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 29 of 30 Pages - ------------------------------ ------------------------------- EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of an amendment to a Statement on Schedule 13D dated June 5, 2000 (including amendments thereto) with respect to the Common Stock of VCampus Corporation (f/k/a UOL Publishing, Inc.). This Joint Filing Agreement shall be filed as an Exhibit to such statement. Dated: June 5, 2000 WHEATLEY PARTNERS, L.P. By: Wheatley Partners, LLC, a General Partner By: /s/ Irwin Lieber ----------------------------------- Irwin Lieber, President WHEATLEY PARTNERS LLC /s/ Irwin Lieber ----------------------------------------- Irwin Lieber, President /s/ Barry Rubenstein ----------------------------------------- Barry Rubenstein /s/ Irwin Lieber ----------------------------------------- Irwin Lieber /s/ Barry Fingerhut ----------------------------------------- Barry Fingerbut /s/ Pamela Fingerhut ----------------------------------------- Pamela Fingerhut /s/ Seth Lieber ----------------------------------------- Seth Lieber /s/ Jonathan Lieber ----------------------------------------- Jonathan Lieber /s/ Marilyn Rubenstein ----------------------------------------- Marilyn Rubenstein /s/ Dana Lieber ----------------------------------------- Dana Lieber WHEATLEY MANAGEMENT LTD. By: /s/ Irwin Lieber -------------------------------------- Irwin Lieber, President - ------------------------------ ------------------------------- CUSIP No. 903196 10 3 13D Page 30 of 30 Pages - ------------------------------ ------------------------------- WHEATLEY FOREIGN PARTNERS, L.P. By: Wheatley Partners, LLC, a General Partner By:/s/ Irwin Lieber -------------------------------------- Irwin Lieber, President SENECA VENTURES By:/s/ Barry Rubenstein ------------------------------------- Barry Rubenstein, a General Partner WOODLAND PARTNERS By: /s/ Barry Rubenstein ------------------------------------- Barry Rubenstein, a General Partner WOODLAND VENTURE FUND By: /s/ Barry Rubenstein -------------------------------------- Barry Rubenstein, a General Partner WOODLAND SERVICES CORP. By: /s/ Barry Rubenstein -------------------------------------- Barry Rubenstein, President -----END PRIVACY-ENHANCED MESSAGE-----