SC 13D/A 1 g70102sc13da.txt TERRMARK WORLDWIDE/COMMUNICATIONS INVESTORS GROUP 1 Page 1 of 24 Pages SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 2) TERREMARK WORLDWIDE, INC. -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $.001 PAR VALUE -------------------------------------------------------------------------------- (Title of Class of Securities) 03232Q106 -------------------------------------------------------------------------------- (CUSIP Number) PAUL BERKOWITZ, ESQ. GREENBERG TRAURIG, P.A. 1221 BRICKELL AVENUE MIAMI, FL 33131 (305) 579-0500 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) MAY 21, 2001 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [X] 2 CUSIP NO. 03232Q106 13D PAGE 2 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Communications Investors Group --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS WC and BK --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Florida --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 3,007,821 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 3,007,821 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,007,821 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.51% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON PN --------------------------------------------------------------------- 3 CUSIP NO. 03232Q106 13D PAGE 3 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Vistagreen Holdings (Bahamas), Ltd. --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Bahamas --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 31,909,128 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 31,909,128 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 31,909,128 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.03% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO --------------------------------------------------------------------- 4 CUSIP NO. 03232Q106 13D PAGE 4 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Paradise Stream (Bahamas) Limited --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Bahamas --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 25,000,000 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 25,000,000 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,000,000 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.56% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO --------------------------------------------------------------------- 5 CUSIP NO. 03232Q106 13D PAGE 5 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Moraine Investments Inc. --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 6,613,221 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 6,613,221 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,613,221 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.32% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* CO --------------------------------------------------------------------- 6 CUSIP NO. 03232Q106 13D PAGE 6 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ATTU Services, Inc. --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 4,186,173 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 4,186,173 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,186,173 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.10% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO --------------------------------------------------------------------- 7 CUSIP NO. 03232Q106 13D PAGE 7 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON TCO Company Limited --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 34,094,139 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 34,094,139 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 34,094,139 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.12% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO --------------------------------------------------------------------- 8 CUSIP NO. 03232Q106 13D PAGE 8 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Manuel D. Medina --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION USA --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 40,289,518 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 32, 169,913 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 32,169,913 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.16% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 9 CUSIP NO. 03232Q106 13D PAGE 9 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Michael Katz --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION USA --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 3,015,930 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,015,930 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.51% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 10 CUSIP NO. 03232Q106 13D PAGE 10 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Brian Goodkind --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION USA --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 248,892 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 2,518,693 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,518,693 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.26% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 11 CUSIP NO. 03232Q106 13D PAGE 11 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edward Jacobsen --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK 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 NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 513,651 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 513,651 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 12 CUSIP NO. 03232Q106 13D PAGE 12 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON William Biondi --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK 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 NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 513,651 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 513,651 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 13 CUSIP NO. 03232Q106 13D PAGE 13 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Willy Bermello --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION USA --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 235,620 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 235,620 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 14 CUSIP NO. 03232Q106 13D PAGE 14 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ARJ, LLC (f/k/a AJR, LLC) --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 1,027,301 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,027,301 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* CO --------------------------------------------------------------------- 15 CUSIP NO. 03232Q106 13D PAGE 15 OF 24 PAGES --------------------- -------- -------- (1) NAMES OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Irving A. Padron Jr. --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) SOURCE OF FUNDS --------------------------------------------------------------------- (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS [ ] IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) --------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION USA --------------------------------------------------------------------- (7) SOLE VOTING POWER NUMBER OF 0 SHARES -------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY 0 EACH -------------------------------------------------------- REPORTING (9) SOLE DISPOSITIVE POWER PERSON WITH 513,651 -------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 -------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 513,651 --------------------------------------------------------------------- (12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] --------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Less than 1% --------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN --------------------------------------------------------------------- 16 ITEM 1. SECURITY AND ISSUER. This amendment no. 2 to Schedule 13D ("AMENDMENT NO. 2") is filed as the second amendment to the Statement on Schedule 13D, dated November 12, 1999 (the "ORIGINAL SCHEDULE 13D"), as amended by amendment no. 1 to the Original Schedule 13D, dated April 28, 2000 ("AMENDMENT NO. 1"). This statement represents the joint filing of Communications Investors Group, a Florida general partnership ("CIG"), Vistagreen Holdings (Bahamas), Ltd., a Bahamas international business company ("VISTAGREEN"), Paradise Stream (Bahamas) Limited ("PARADISE STREAM"), Moraine Investments, Inc. ("MORAINE"), ATTU Services, Inc. ("ATTU"), TCO Company Limited ("TCO"), Manuel D. Medina, Michael Katz, Brian Goodkind, Edward Jacobsen, William Biondi, Willy Bermello, ARJ, LLC (f/k/a AJR, LLC), a Connecticut Limited Liability Company, and Irving A Padron Jr. (collectively, the "INDIVIDUAL SHAREHOLDERS") (collectively the Individual Shareholders with CIG, Paradise Stream, TCO, Vistagreen, Moraine and ATTU, are herein referred to as the "GROUP"), relating to the common stock, par value $0.001 per share (the "COMMON STOCK"), of Terremark Worldwide, Inc., a Florida corporation (the "COMPANY"). This Amendment No. 2 reflects material changes in Amendment No. 1, such material changes being more fully reflected in Items 5 and 7 below. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 is hereby amended and supplemented to add the following: On May 21, 2001, Paradise Stream sold 5,000,000 shares of Common Stock of the Company for a purchase price of $1.00 per share to NIS Holdings, LLC, a Delaware limited liability company ("NIS") and Paradise Stream granted to NIS an option to purchase an additional 25,000,000 shares of Common Stock of the Company for a purchase price $0.75. Such option is exercisable from September 12, 2002 through October 12, 2002; PROVIDED, HOWEVER, that upon the request of NIS, Paradise Stream may, in its sold discretion, accelerate the date such option becomes exercisable. On May 24th, 25th, and 29th, 2001, Paradise Stream made inter-company distributions of Common Stock of the Company, totaling 24,090,655 shares in the aggregate, to its parent, Vistagreen. CIG (a) CIG beneficially owns 3,007,821 shares or 1.51% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. The shares owned by the Reporting Person consist of 807,821 shares of Common Stock, 20 shares of Series G Convertible Preferred Stock which may be converted into 1,600,000 shares of Common Stock and warrants to purchase 600,000 shares of Common Stock. (b) (i) Sole power to vote or direct the vote: 3,007,821 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 3,007,821 (iv) Shared power to dispose of or direct the disposition of: 0 Page 16 of 24 Pages 17 (c) Not Applicable (d) Not Applicable (e) Not Applicable VISTAGREEN (a) Vistagreen beneficially owns 31,909,128 shares or 16.03% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 31,909,128 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 31,909,128 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable PARADISE STREAM (a) Paradise Stream beneficially owns 25,000,000 shares or 12.56% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 25,000,000 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 25,000,000 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable MORAINE (a) Moraine beneficially owns 6,613,221 shares or 3.32% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 6,613,221 (ii) Shared power to vote or direct the vote: 0 Page 17 of 24 Pages 18 (iii) Sole power to dispose of or direct the disposition of: 6,613,221 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable ATTU (a) ATTU beneficially owns 4,186,173 shares or 2.10% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 4,186,173 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 4,186,173 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable TCO (a) TCO beneficially owns 34,094,139 shares or 17.12% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 34,094,139 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 34,094,139 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable MANUEL D. MEDINA (a) Manuel D. Medina beneficially owns 32,169,913 shares or 16.16% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. Page 18 of 24 Pages 19 (b) (i) Sole power to vote or direct the vote: 40,289,518(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 32,169,913 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Includes 8,119,605 shares of the Company's common stock held by the Terremark Shareholders which Manuel D. Medina has the sole power to direct the vote of pursuant to the Shareholders Agreement. MICHAEL KATZ (a) Michael Katz beneficially owns 3,015,930 shares or 1.51% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 3,015,930 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 3,015,930 shares held by Michael Katz. BRIAN GOODKIND (a) Brian Goodkind beneficially owns 2,269,801 shares or 1.26% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 248,892(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 2,518,693 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable Page 19 of 24 Pages 20 (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 2,269,801 shares held by the Brian Goodkind. EDWARD JACOBSEN (a) Edward Jacobsen beneficially owns 513,651 shares or less than 1% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 513,651 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 513,651 shares held by Edward Jacobsen. WILLY BERMELLO (a) Willy Bermello beneficially owns 235,620 shares which represents less than 1% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 235,620 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 265,620 shares held by Willy Bermello. Page 20 of 24 Pages 21 WILLIAM BIONDI (a) William Biondi beneficially owns 513,651 shares which represents less than 1% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 513,651 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 513,651 shares held by William Biondi. ARJ, LLC (a) ARJ, LLC beneficially owns 1,027,301 shares or less than 1% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 1,027,301 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 1,027,301 shares owned by AJR, LLC, which, subsequent to the execution of the Shareholders Agreement, changed its name to ARJ, LLC. IRVING A. PADRON JR. (a) Irving A. Padron Jr. beneficially owns 513,651 shares which represents less than 1% of the outstanding Common Stock of the Company, based on a total of 199,107,179 shares of Common Stock outstanding on April 1, 2001. (b) (i) Sole power to vote or direct the vote: 0(1) (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose of or direct the disposition of: 513,651 Page 21 of 24 Pages 22 (iv) Shared power to dispose of or direct the disposition of: 0 (c) Not Applicable (d) Not Applicable (e) Not Applicable (1) Pursuant to the Shareholders Agreement, Manuel D. Medina has the sole power to direct the vote of the 513,651 shares held by Irving A. Padron, Jr. Page 22 of 24 Pages 23 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. June 15, 2001 COMMUNICATIONS INVESTORS GROUP By: /s/ Manuel D. Medina ----------------------------------- Name: Manuel D. Medina Title: General Partner VISTAGREEN HOLDINGS (BAHAMAS), LTD. By: /s/ Adrian Crosbie-Jones ----------------------------------- Name: Adrian Crosbie-Jones Title: Vice President PARADISE STREAM (BAHAMAS) LIMITED By: /s/ Adrian Crosbie-Jones ----------------------------------- Name: Adrian Crosbie-Jones Title: Vice President MORAINE INVESTMENTS, INC. By: /s/ Adrian Crosbie-Jones ----------------------------------- Name: Adrian Crosbie-Jones Title: Vice President ATTU SERVICES, INC. By: Business Administration Limited By: /s/ Adrian Crosbie-Jones ------------------------------- Name: Adrian Crosbie-Jones Title: Director TCO COMPANY LIMITED By: Business Administration Limited By: /s/ Adrian Crosbie-Jones ------------------------------- Name: Adrian Crosbie-Jones Title: Director Page 23 of 24 Pages 24 /s/ Manuel D. Medina --------------------------------------- MANUEL D. MEDINA /s/ Michael L. Katz --------------------------------------- MICHAEL L. KATZ /s/ Brian Goodkind --------------------------------------- BRIAN GOODKIND /s/ Edward P. Jacobsen --------------------------------------- EDWARD P. JACOBSEN /s/ William Biondi --------------------------------------- WILLIAM BIONDI /s/ Willy Bermello --------------------------------------- WILLY BERMELLO ARJ, LLC By: /s/ Aviva Budd ----------------------------------- Name: Aviva Budd Title: Managing Member /s/ Irving A. Padron, Jr. --------------------------------------- IRVING A. PADRON, JR. Page 24 of 24 Pages