SC 13G 1 sc13g.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities and Exchange Act of 1934 (Amendment No. ___)* WILSHIRE ENTERPRISES, INC. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $1.00 par value per share -------------------------------------------------------------------------------- (Title of Class of Securities) 971889100 -------------------------------------------------------------------------------- (CUSIP Number) August 23, 2004 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) ---------- * 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 the disclosures provided in a prior cover page. The information required in 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). CUSIP No. 971889100 13G Page 2 of 9 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) JMB Capital Partners, L.P. ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION California ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 453,900 _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 453,900 _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 0 ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 453,900 ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.8% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 971889100 13G Page 3 of 9 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Smithwood Partners, LLC ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION California ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 453,900 _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 453,900 _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 0 ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 453,900 ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.8% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* HC ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 971889100 13G Page 4 of 9 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Jonathan Brooks ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 453,900 _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 453,900 _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 0 ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 453,900 ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.8% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 971889100 13G Page 5 of 9 Pages Item 1(a). Name of Issuer: Wilshire Enterprises, Inc. ____________________________________________________________________ Item 1(b). Address of Issuer's Principal Executive Offices: 921 Bergen Avenue, Jersey City, New Jersey 07306-4204 ____________________________________________________________________ Item 2(a). Name of Person Filing: This Schedule 13G is being filed by JMB Capital Partners, L.P., Smithwood Partners, LLC and Mr. Jonathan Brooks (collectively, the "Reporting Persons"). JMB Capital Partners, L.P. is a California limited partnership ("JMB Capital"). Smithwood Partners, LLC, a California limited liability company ("Smithwood"), is the general partner of JMB Capital and is a registered investment advisor under the laws of the State of California. Mr. Brooks is the sole member and manager of Smithwood. ____________________________________________________________________ Item 2(b). Address of Principal Business Office, or if None, Residence: The principal address of the Reporting Persons is 1999 Avenue of the Stars, Suite 2040, Los Angeles, CA 90067. ____________________________________________________________________ Item 2(c). Citizenship: JMB Capital is a California limited partnership, Smithwood is a California limited liability company and Mr. Brooks is a citizen of the United States of America. ____________________________________________________________________ Item 2(d). Title of Class of Securities: Common Stock, $1.00 par value per share (the "Shares") ____________________________________________________________________ Item 2(e). CUSIP Number: 971889100 ____________________________________________________________________ Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: Not Applicable CUSIP No. 971889100 13G Page 6 of 9 Pages Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: As of August 26, 2004, the Reporting Persons owned 453,900 Shares. ______________________________________________________________________ (b) Percent of class: As of August 26, 2004, the Reporting Persons owned 5.8% of the issued and outstanding shares of the Issuer. ______________________________________________________________________ (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: JMB Capital, the direct owner of the Shares, has the sole power to vote or direct the vote with respect to the 453,900 Shares owned by it. As general partner of JMB Capital, Smithwood has the sole power to vote or direct the vote with respect to the 453,900 Shares owned by JMB Capital by virtue of its authority to vote and dispose of such Shares. As the sole member and manager of Smithwood, Mr. Brooks has the sole power to vote or direct the vote with respect to the 453,900 Shares owned by JMB Capital by virtue of his authority to vote and dispose of such Shares. (ii) Shared power to vote or to direct the vote: Not Applicable. (iii) Sole power to dispose or to direct the disposition of: JMB Capital, the direct owner of the Shares, has the sole power to dispose or direct the disposition with respect to the 453,900 Shares owned by it. As general partner of JMB Capital, Smithwood has the sole power to dispose or direct the disposition with respect to the 453,900 Shares owned by JMB Capital by virtue of its authority to vote and dispose of such Shares. As the sole member and manager of Smithwood, Mr. Brooks has the sole power to dispose or direct the disposition with respect to the 453,900 Shares owned by JMB Capital by virtue of his authority to vote and dispose of such Shares. (iv) Shared power to dispose or to direct the disposition of: Not Applicable. CUSIP No. 971889100 13G Page 7 of 9 Pages Item 5. Ownership of Five Percent or Less of a Class. Not Applicable _______________________________________________________________________ Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable. _______________________________________________________________________ Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not Applicable. _______________________________________________________________________ Item 8. Identification and Classification of Members of the Group. Not Applicable. _______________________________________________________________________ Item 9. Notice of Dissolution of Group. Not Applicable. ______________________________________________________________________ Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 971889100 13G Page 8 of 9 Pages 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. August 26, 2004 JMB CAPITAL PARTNERS, L.P. By: Smithwood Partners, LLC, General Partner By: /s/ Jonathan Brooks ------------------------------------- Jonathan Brooks, Sole Member and Manager August 26, 2004 SMITHWOOD PARTNERS, LLC By: /s/ Jonathan Brooks ------------------------------------- Jonathan Brooks, Sole Member and Manager August 26, 2004 /s/ Jonathan Brooks ------------------------------------------ Jonathan Brooks, individually CUSIP No. 971889100 13G Page 9 of 9 Pages EXHIBIT NO. 1 JOINT FILING AGREEMENT The undersigned hereby consent to the joint filing by any of them of a Statement on Schedule 13G and any amendments thereto, whether heretofore or hereafter filed, relating to the securities of Wilshire Enterprises, Inc. and hereby affirm that this Schedule 13G is being filed on behalf of each of the undersigned. Dated: August 26, 2004 JMB Capital Partners, L.P. By: Smithwood Partners, LLC, General Partner By: /s/ Jonathan Brooks ------------------------------------- Name: Jonathan Brooks Title: Sole Member and Manager Dated: August 26, 2004 Smithwood Partners, LLC By: /s/ Jonathan Brooks ------------------------------------- Name: Jonathan Brooks Title: Sole Member and Manager Dated: August 26, 2004 By: /s/ Jonathan Brooks ------------------------------------- Name: Jonathan Brooks, individually