-----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, CTmmB0oEZRD9OUgXkOybTxIxk03WsW/n6KoieRVN1Df8kJTUC8L4Qx3cAs27l7PI LBWuQKmLFmfKfB2RuEPQGw== 0000950146-98-001734.txt : 19981023 0000950146-98-001734.hdr.sgml : 19981023 ACCESSION NUMBER: 0000950146-98-001734 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981022 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE INTERNET SOLUTIONS CO /DE/ CENTRAL INDEX KEY: 0000929648 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 223272662 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-46535 FILM NUMBER: 98729402 BUSINESS ADDRESS: STREET 1: 25 WEST 45TH ST CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2122216559 MAIL ADDRESS: STREET 1: 25 WEST 45TH ST CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: ENTERACTIVE INC /DE/ DATE OF NAME CHANGE: 19940907 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SENECA VENTURES CENTRAL INDEX KEY: 0001014876 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 68 WHEATLEY RD CITY: BROOKVILLE STATE: NY ZIP: 11545 BUSINESS PHONE: 2127358600 SC 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 S C H E D U L E 13D INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a). (Amendment No. 7)(1) CORNERSTONE INTERNET SOLUTIONS CO. (formerly, Enteractive, Inc.) - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 293636106 -------------- (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 (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) October 7, 1998 (Date of Event which Requires Filing 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-(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 page(s)) - -------- (1) 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 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 1 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 473,000 shares 1.9% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 12,177,726 shares 49.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 473,000 shares 4.0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 2,634,686 shares 22.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 3,107,686 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 25.6% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 2 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Venture Fund | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 624,575 shares 2.6% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,553,467 shares 6.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 214,415 shares 1.9% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 756,587 shares 6.4% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 3 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Seneca Ventures | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 417,076 shares 1.7% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,760,966 shares 7.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 143,636 shares 1.2% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 827,366 shares 7.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 4 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Services Corp. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,178,042 shares 8.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 971,002 shares 8.3% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | CO ================================================================================ Page 5 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | 21st Century Communications Partners, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 3,018,573 shares 12.4% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,432,378 shares 5.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 701,169 shares 6.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 331,782 shares 2.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 6 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | 21st Century Communications T-E Partners, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 1,031,046 shares 4.2% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 3,419,905 shares 14.1% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 242,172 shares 2.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 790,779 shares 6.8% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 7 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | 21st Century Communications Foreign Partners, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 401,332 shares 1.7% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,049,619 shares 16.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 89,610 shares 0.8% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 943,341 shares 8.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 8 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Michael J. Marocco | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,450,951 shares 18.3% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 9 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | John Kornreich | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,450,951 shares 18.3% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 10 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Harvey Sandler | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,450,951 shares 18.3% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 11 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Andrew Sandler | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,450,951 shares 18.3% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 12 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Fingerhut | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 1,000 shares 0.01% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 10,072,684 shares 41.5% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 1,000 shares 0.01% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,736,684 shares 15.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,737,684 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 15.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 13 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Irwin Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 23,000 shares 0.1% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 10,072,684 shares 41.5% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 23,000 shares 0.2% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,736,684 shares 15.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,759,684 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 15.2% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 14 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Partners | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 559,154 shares 2.3% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,618,888 shares 6.6% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 35,714 shares 0.3% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 935,288 shares 8.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 15 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Associates, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 5,621,733 shares 23.2% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 0 shares 0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 703,733 shares 6.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 0 shares 0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 16 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Capital Corp. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,621,733 shares 23.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | CO ================================================================================ Page 17 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Seth Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,621,733 shares 23.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 18 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Jonathan Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,621,733 shares 23.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 19 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Marilyn Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,178,042 shares 8.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 971,002 shares 8.3% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 20 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | The Marilyn and Barry Rubenstein Family Foundation | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 104,237 shares 0.4% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,073,805 shares 8.5% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 104,237 shares 0.9% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 866,765 shares 7.4% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | OO ================================================================================ Page 21 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Brian Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 104,237 shares 0.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 104,237 shares 0.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 104,237 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 0.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 22 of 37 CUSIP No. 293636106 13D ================================================================================ 1 | Name of Reporting Person | I.R.S. Identification Nos. of Above Persons (Entities Only) | Rebecca Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required |_| | Pursuant to Items 2(d) or 2(e) | - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 104,237 shares 0.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 104,237 shares 0.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 104,237 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 0.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 23 of 37 This statement, dated October 7, 1998, constitutes Amendment No. 7 to the Schedule 13D, dated September 11, 1995, regarding the reporting persons ownership of certain securities of Cornerstone Internet Solutions Co. (formerly, Enteractive, Inc.) (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. 7 to the Schedule is filed in accordance with Rule 13d-2 of the Securities Exchange Act of 1934, as amended, by the reporting persons. It shall refer only to information which has materially changed since the filing of the Schedule. ITEM 1. Security and Issuer (a) Effective February 19, 1998, the Issuer's Class A Convertible Preferred Stock was changed to Class C Convertible Preferred Stock (the "Preferred Stock"). The holders of the Preferred Stock shall be entitled to convert anytime after June 30, 1999, each share of Preferred Stock into a whole number of shares of Common Stock equal to the aggregate Stated Value of the Preferred Stock to be converted divided by the lesser of (i) $2.00 or (ii) 50% of the average closing sale price for the Common Stock for the last ten trading days in the fiscal quarter of the Issuer prior to such conversion. For purposes of calculating the number of voting rights for the Preferred Stock, the Stated Value of the Preferred Stock was divided by $0.73125, or 50% of the average closing sale price for the Common Stock for the last ten trading days in the fiscal quarter prior to September 30, 1998. For purposes of calculating the number of voting rights for the Class B Preferred Stock, the Stated Value of the Preferred Stock was divided by $1.00. (b) Cornerstone Internet Solutions Co. (CNRS) 584 Broadway Suite 509 New York, New York 10012 ITEM 2. Security and the Issuer 12. (a) Andrew Sandler is the sole shareholder of ALCR Corp. (formerly ALSI, LLC). (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States Page 24 of 37 ALCR Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. Andrew Sandler is the son of Harvey Sandler. ITEM 3. Source and Amount of Funds or Other Consideration The amount of cash used in acquiring the additional shares of Common Stock is set forth below: Purchase Price -------------- Barry Rubenstein Rollover IRA $159,375 ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 11,574,895 shares of Common Stock, outstanding as of August 31, 1998, as reported by the Issuer to the reporting persons) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of October 7, 1998:
Shares of Percentage of Shares Common Stock Percent of Voting of Common Stock Name Beneficially Owned(2) Control(2) Beneficially Owned(2) ---- --------------------- ----------------- --------------------- Barry Rubenstein 3,107,686(3,4,5,6) 50.9% 25.6% Woodland Venture Fund 971,002(3) 8.9% 8.3% Seneca Ventures 971,002(3) 8.9% 8.3% Woodland Services Corp. 971,002(3) 8.9% 8.3% 21st Century 1,032,951(3,7) 18.3% 8.9% Communications Partners, L.P.
- -------- (2) Includes shares of Common Stock issuable upon the exercise of the warrants and the Revwood Option. (3) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therin. (4) Includes 400,000 shares of Common Stock issuable upon the exercise of the Revwood Warrant, and 160,500 shares of Common Stock held in Barry Rubenstein's Rollover IRA account. (5) Includes 703,733 shares of Common Stock owned by Applewood. (6) Includes 1,032,951 shares of Common Stock owned by 21st Century, T-E and Foreign. (7) Includes 701,169 shares of Common Stock. 21st Century disclaims beneficial ownership of 242,172 shares of Common Stock owned by T-E and 89,610 shares of Common Stock owned by Foreign. Page 25 of 37
Shares of Percentage of Shares Common Stock Percent of Voting of Common Stock Name Beneficially Owned(2) Control(2) Beneficially Owned(2) ---- --------------------- ----------------- --------------------- 21st Century 1,032,951(3,8) 18.3% 8.9% Communications T-E Partners, L.P. 21st Century 1,032,951(3,9) 18.3% 8.9% Communications Foreign Partners, L.P. Michael Marocco 1,032,951(3,6) 18.3% 8.9% John Kornreich 1,032,951(3,6) 18.3% 8.9% Harvey Sandler 1,032,951(3,6) 18.3% 8.9% Andrew Sandler 1,032,951(3,6) 18.3% 8.9% Barry Fingerhut 1,737,684(3,5,6) 41.5% 15.0% Irwin Lieber 1,759,684(3,5,6) 41.6% 15.2% Woodland Partners 971,002(3) 8.9% 8.3% Applewood Associates, 703,733(5) 23.2% 6.1% L.P. Applewood Capital Corp. 703,733(3,5) 23.2% 6.1% Seth Lieber 703,733(3,5) 23.2% 6.1% Jonathan Lieber 703,733(3,5) 23.2% 6.1% Marilyn Rubenstein 971,002(3) 8.9% 8.3% The Marilyn and Barry 971,002(3) 8.9% 8.3% Rubenstein Family Foundation Brian Rubenstein 104,237(3) 0.4% 0.9% Rebecca Rubenstein 104,237(3) 0.4% 0.9%
- -------- (8) Includes 242,172 shares of Common Stock. T-E disclaims beneficial ownership of 701,169 shares of Common Stock owned by 21st Century and 89,610 shares of Common Stock owned by Foreign. (9) Includes 89,610 shares of Common Stock. Foreign disclaims beneficial ownership of 701,169 shares of Common Stock owned by 21st Century and 242,172 shares of Common Stock owned by T-E. Page 26 of 37 (b) Barry Rubenstein has sole power to vote and dispose of 473,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 1.9% and 4.0%, respectively, of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia, a Trustee of the Foundation and a general partner of Applewood, Seneca, the Fund, Woodland Partners and Revwood, Barry Rubenstein may be deemed to have shared power to vote 12,177,726 shares of Common Stock (including 7,793,040 voting rights from the Preferred Stock, 1,017,857 shares received upon the consummation of the Exchange Offer, 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock, 400,000 shares issuable upon the exercise of the Revwood Warrant and 1,750,000 voting rights from the Class B Preferred Stock), representing approximately 49.4% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 2,634,686 shares of Common Stock (including 1,017,857 shares received upon the consummation of the Exchange Offer, 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock, and 400,000 shares issuable upon the exercise of the Revwood Warrant), representing approximately 22.0% of the outstanding Common Stock. The Fund has sole power to vote 624,575 shares of Common Stock, representing approximately 2.6% of the outstanding Common Stock (including 410,160 voting rights from the Preferred Stock and 53,571 shares received upon the consummation of the Exchange Offer), and may be deemed to have shared power to vote 1,553,467 shares of Common Stock (including 546,880 voting rights from the Preferred Stock, 71,428 shares received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option, 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock and 250,000 voting rights from the Class B Preferred Stock), representing approximately 6.4% of the outstanding Common Stock. The Fund has the sole power to dispose of 214,415 shares of Common Stock (including 53,571 shares received upon the consummation of the Exchange Offer), representing approximately 1.9% of the outstanding Common Stock, and shared power to dispose of 756,587 shares of Common Stock (including 71,428 shares received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 6.4% of the outstanding Common Stock. Seneca has sole power to vote 417,076 shares of Common Stock, representing approximately 1.7% of the outstanding Common Stock (including 273,440 voting rights from the Preferred Stock and 35,714 shares received upon the consummation of the Exchange Offer), and may be deemed to have shared power to vote 1,760,966 shares of Common Stock (including 683,600 voting rights from the Preferred Stock, 89,285 share received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option, 1,500 shares received upon the consummation of the exchange in October Page 27 of 37 1997, of Warrants for Common Stock and 250,000 voting rights from the Class B Preferred Stock), representing approximately 7.2% of the outstanding Common Stock. Seneca has the sole power to dispose of 143,636 shares of Common Stock (including 35,714 shares received upon the consummation of the Exchange Offer), representing approximately 1.2% of the outstanding Common Stock, and shared power to dispose of 827,366 shares of Common Stock (including 89,285 shares received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 7.0% of the outstanding Common Stock. Woodland Services Corp. has shared power to vote 2,178,042 shares of Common Stock (including 957,040 voting rights from the Preferred Stock, 124,999 shares received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option, 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock and 250,000 voting rights from the Class B Preferred Stock), representing approximately 8.9% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 971,002 shares of Common Stock (including 124,999 shares received upon the consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 8.3% of the outstanding Common Stock. 21st Century has sole power to vote 3,018,573 shares of Common Stock (including 2,317,404 voting rights from the Preferred Stock and 302,679 shares received upon the consummation of the Exchange Offer), representing approximately 12.4% of the outstanding Common Stock. 21st Century has sole power to dispose of 701,169 shares of Common Stock (including 302,679 shares received upon the consummation of the Exchange Offer), representing approximately 6.1% of the outstanding shares of Common Stock. 21st Century may be deemed to have shared power to vote 1,432,378 shares of Common Stock (including 1,100,596 voting rights from the Preferred Stock, and 143,750 shares received upon the consummation of the Exchange Offer), representing approximately 5.9% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 331,782 shares of Common Stock (including 143,750 shares received upon the consummation of the Exchange Offer), representing approximately 2.9% of the outstanding Common Stock. T-E has sole power to vote 1,031,046 shares of Common Stock (including 788,874 voting rights from the Preferred Stock and 103,036 shares received upon the consummation of the Exchange Offer), representing approximately 4.2% of the outstanding Common Stock, and may be deemed to have shared power to vote 3,419,905 shares of Common Stock (including 2,629,126 voting rights from the Preferred Stock, and 343,393 shares received upon the consummation of the Exchange Offer), representing approximately 14.1% of the outstanding Common Stock. T-E has sole power to dispose of 242,172 shares of Common Stock (including 103,036 shares received upon the Page 28 of 37 consummation of the Exchange Offer), representing approximately 2.1% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 790,779 shares of Common Stock (including 343,393 shares received upon the consummation of the Exchange Offer), representing approximately 6.8% of the outstanding Common Stock. Foreign has sole power to vote 401,332 shares of Common Stock (including 311,722 voting rights from the Preferred Stock and 40,714 shares received upon the consummation of the Exchange Offer), representing approximately 1.7% of the outstanding Common Stock. Foreign may be deemed to have shared power to vote 4,049,619 shares of Common Stock (including 3,106,278 voting rights from the Preferred Stock and 405,715 shares received upon the consummation of the Exchange Offer), representing approximately 16.7% of the outstanding Common Stock. Foreign has sole power to dispose of 89,610 shares of Common Stock (including 40,714 shares received upon the consummation of the Exchange Offer), representing approximately 0.8% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 943,341 shares of Common Stock (including 405,715 shares received upon the consummation of the Exchange Offer), representing approximately 8.1% of the outstanding Common Stock. By virtue of being the sole shareholder, officer and director of MJDM Corp., Michael J. Marocco may be deemed to have shared power to vote 4,450,951 shares of Common Stock, representing approximately 18.3% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 446,429 shares received upon the consummation of the Exchange Offer), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock (including 446,429 shares received upon the consummation of the Exchange Offer), representing approximately 8.9% of the outstanding Common Stock. By virtue of being the majority shareholder and director of Four JK Corp., John Kornreich may be deemed to have shared power to vote 4,450,951 shares of Common Stock, representing approximately 18.3% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 446,429 shares received upon the consummation of the Exchange Offer), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock (including 446,429 shares received upon the consummation of the Exchange Offer), representing approximately 8.9% of the outstanding Common Stock. By virtue of being the sole shareholder of ARH Corp., Harvey Sandler may be deemed to have shared power to vote 4,450,951 shares of Common Stock, representing approximately 18.3% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 446,429 shares received upon the consummation of the Exchange Offer), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock (including 446,429 shares received upon the consummation of the Exchange Offer), representing approximately 8.9% of the outstanding Common Stock. By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may be deemed to have shared power to vote 4,450,951 shares of Common Stock, representing approximately 18.3% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and Page 29 of 37 446,429 shares received upon consummation of the Exchange Offer), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock (including 446,429 shares received upon consummation of the Exchange Offer), representing approximately 8.9% of the outstanding Common Stock. Barry Fingerhut has sole power to vote and dispose of 1,000 shares of Common Stock (received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.01% and 0.01%, respectively of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Barry Fingerhut may be deemed to have shared power to vote 10,072,684 shares of Common Stock (including 6,836,000 voting rights from the Preferred Stock, 892,858 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 41.5% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 1,736,684 shares of Common Stock (including 892,858 shares received upon consummation of the Exchange Offer), representing approximately 15.0% of the outstanding Common Stock. Irwin Lieber has sole power to vote and dispose of 23,000 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock and 17,000 shares issuable upon the exercise of the warrants), representing approximately 0.1% and 0.2%, respectively of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Irwin Lieber may be deemed to have shared power to vote 10,072,684 shares of Common Stock (including 6,836,000 voting rights from the Preferred Stock, 892,858 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 41.5% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 1,736,684 shares of Common Stock (including 892,858 shares received upon consummation of the Exchange Offer), representing approximately 15.0% of the outstanding Common Stock. Applewood has sole power to vote 5,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 446,429 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 23.2% of the outstanding Common Stock, and has sole power to dispose of 703,733 shares of Common Stock (including 446,429 shares received upon consummation of the Exchange Offer), representing approximately 6.1% of the outstanding Common Stock. AC Corp. may be deemed to have shared power to vote 5,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 446,429 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 23.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock (including 446,429 shares received upon consummation of the Exchange Offer), representing approximately 6.1% of the outstanding Common Stock. Page 30 of 37 By virtue of being an officer of AC Corp., Seth Lieber may be deemed to have shared power to vote 5,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 446,429 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 23.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock (including 446,429 shares received upon consummation of the Exchange Offer), representing approximately 6.1% of the outstanding Common Stock. By virtue of being an officer of AC Corp., Jonathan Lieber may be deemed to have shared power to vote 5,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 446,429 shares received upon consummation of the Exchange Offer and 1,500,000 voting rights from the Class B Preferred Stock), representing approximately 23.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock (including 446,429 shares received upon consummation of the Exchange Offer), representing approximately 6.1% of the outstanding Common Stock. Woodland Partners has sole power to vote 559,154 shares of Common Stock, representing approximately 2.3% of the outstanding Common Stock (including 273,440 voting rights from the Preferred Stock, 35,714 shares received upon consummation of the Exchange Offer and 250,000 voting rights from the Class B Preferred Stock), and may be deemed to have shared power to vote 1,618,888 shares of Common Stock (including 683,600 voting rights from the Preferred Stock, 89,285 shares received upon consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 6.6% of the outstanding Common Stock. Woodland Partners has sole power to dispose of 35,714 shares of Common Stock (representing 35,714 shares received upon consummation of the Exchange Offer), representing approximately 0.3% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 935,288 shares of Common Stock (including 89,285 shares received upon consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 8.0% of the outstanding Common Stock. By virtue of being a general partner of Woodland Partners, a Trustee of the Foundation, and the wife of Barry Rubenstein, Marilyn Rubenstein may be deemed to have shared power to vote 2,178,042 shares of Common stock (including 957,040 voting rights from the Preferred Stock, 124,999 shares received upon consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option, 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock and 250,000 voting rights from the Class B Preferred Stock), representing approximately 8.9% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 971,002 shares of Common Stock (including 124,999 shares received upon Page 31 of 37 consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 1,500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 8.3% of the outstanding Common Stock. The Foundation has sole power to vote 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.4% of the outstanding Common Stock, and may be deemed to have shared power to vote 2,073,805 shares of Common Stock (including 957,040 voting rights from the Preferred Stock, 124,999 shares received upon consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option, 500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock and 250,000 voting rights from the Class B Preferred Stock), representing approximately 8.5% of the outstanding Common Stock. The Foundation has sole power to dispose of 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.9% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 866,765 shares of Common Stock (including 124,999 shares received upon consummation of the Exchange Offer, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 500 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 7.4% of the outstanding Common Stock. By virtue of being a Trustee of the Foundation, Brian Rubenstein may be deemed to have shared power to vote 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.4% of the outstanding shares of Common Stock, and may be deemed to have shared power to dispose of 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.9% of the outstanding Common Stock. By virtue of being a Trustee of the Foundation, Rebecca Rubenstein may be deemed to have shared power to vote 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.4% of the outstanding shares of Common Stock, and may be deemed to have shared power to dispose of 104,237 shares of Common Stock (including 1,000 shares received upon the consummation of the exchange in October 1997, of Warrants for Common Stock), representing approximately 0.9% 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 August 7, 1998 through October 7, 1998, inclusive: Page 32 of 37
Purchase or Sale Number of Shares of ---------------- Class B Preferred Stock Name of Shareholder Date Purchased or (Sold) Purchase or Sale Price - ------------------- ---- ------------------- ---------------------- Barry Rubenstein Rollover IRA 9/3/98 25,000 $1.125 9/4/98 5,000 $1.125 9/8/98 20,000 $1.125 10/7/98 100,000 $1.03125
(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 33 of 37 Signature After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete, and correct. Date: October 21, 1998 SENECA VENTURES Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner WOODLAND VENTURE FUND Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner WOODLAND SERVICES CORP. Barry Rubenstein -------------------------- Barry Rubenstein, President WOODLAND PARTNERS Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner APPLEWOOD ASSOCIATES, L.P. Irwin Lieber -------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. Barry Rubenstein -------------------------- Barry Rubenstein, President Barry Rubenstein -------------------------- Barry Rubenstein Barry Fingerhut -------------------------- Barry Fingerhut Page 34 of 37 Irwin Lieber ------------------------------- Irwin Lieber Jonathan Lieber ------------------------------- Jonathan Lieber Seth Lieber ------------------------------- Seth Lieber Marilyn Rubenstein ------------------------------- Marilyn Rubenstein THE MARILYN AND BARRY RUBENSTEIN FAMILY FOUNDATION By: Barry Rubenstein --------------------------- Barry Rubenstein, a Trustee * ------------------------------- Brian Rubenstein * ------------------------------- Rebecca Rubenstein * By: Barry Rubenstein ------------------------- Barry Rubenstein Attorney-in-Fact Page 35 of 37 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Treasurer 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Treasurer 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Treasurer Page 36 of 37 Michael J. Marocco -------------------------------------- Michael J. Marocco John Kornreich -------------------------------------- John Kornreich Harvey Sandler -------------------------------------- Harvey Sandler Andrew Sandler -------------------------------------- Andrew Sandler ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). Page 37 of 37 -----END PRIVACY-ENHANCED MESSAGE-----