-----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, T8+UBcnaf9hT2bkjJCB8o36TuSn3PMDtMzAtmKX9o0I6Z1eGnjavVBAVDY1cahUB 66ja1ttwyQ+uya5HzoY+iw== 0001005150-98-000899.txt : 19980831 0001005150-98-000899.hdr.sgml : 19980831 ACCESSION NUMBER: 0001005150-98-000899 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980828 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TEL SAVE HOLDINGS INC CENTRAL INDEX KEY: 0000948545 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 232827736 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-45631 FILM NUMBER: 98700695 BUSINESS ADDRESS: STREET 1: 6805 ROUTE 202 CITY: NEW HOPE STATE: PA ZIP: 18938 BUSINESS PHONE: 2158621500 MAIL ADDRESS: STREET 1: 6805 RIYTE 202 CITY: NEW HOPE STATE: PA ZIP: 18938 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BORISLOW DANIEL M CENTRAL INDEX KEY: 0001002057 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 6805 ROUTE 202 CITY: NEW HOPE STATE: PA ZIP: 18938 BUSINESS PHONE: 2158621500 MAIL ADDRESS: STREET 1: 6805 ROUTE 202 CITY: NEW HOPE STATE: PA ZIP: 18938 SC 13D 1 SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D (AMENDMENT NO. 6) Under the Securities Exchange Act of 1934 Tel-Save Holdings, Inc. ----------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------- (Title of Class of Securities) 879176105 -------------- (CUSIP Number) Daniel Borislow 6805 Route 202 New Hope, PA 18938 (215) 862-1500 ------------------------------------------------- (Name, Address, and Telephone Number of Persons Authorized to Receive Notices and Communications) August 18, 1998 ------------------------------------------------------ (Date of Even 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 [ ]. (Page 1 of 3 Pages) CUSIP No. 879176105 13D Page 2 of 3 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON Daniel Borislow - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) SOURCE OF FUNDS: N/A - -------------------------------------------------------------------------------- 5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION U.S. - -------------------------------------------------------------------------------- NUMBER OF 7) SOLE VOTING POWER 7,415,526* SHARES ------------------------------------------------------------------ BENEFICIALLY 8) SHARED VOTING POWER 8,640,000 OWNED BY ------------------------------------------------------------------ EACH 9) SOLE DISPOSITIVE POWER 7,249,000* REPORTING ------------------------------------------------------------------ PERSON WITH 10) SHARED DISPOSITIVE POWER 1,200,000 - -------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED 16,055,526 BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 12) CHECK IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 28.2% - -------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- * Subject to the restrictions previously described in Item 5 of this Schedule 13D. Page 3 of 3 Pages This Amendment No. 6 amends Item 5 of the Schedule 13D of the Reporting Person. Capitalized terms used herein without definitions have the meanings set forth in the Reporting Person's Schedule 13D as amended by Amendments No. 1 to 5 thereto. Item 5. Interest in Securities of the Issuer. - ------- ------------------------------------- Item 5(c) is hereby amended as follows: (C) On August 18, 1998, solely for estate tax planning purposes, the Reporting Person transferred 4,000,000 shares of Common Stock to a trust (the "Trust"), the sole trustee of which is Seth Tobias (the "Trustee"). The Trust is required to make payments over a three year period to the Reporting Person and then distribute any remainder to the Reporting Person's children. The Trustee has sole power to vote and dispose of the shares of Common Stock that the Reporting Person trnasferred to the Trust. The Reporting Person disclaims any beneficial ownership in the Common Stock held by the Trust. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: August 28, 1998 /s/ Daniel Borislow ------------------- Daniel Borislow -----END PRIVACY-ENHANCED MESSAGE-----