-----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, Joi6rkiXNVGqA79wavL5oH1Q1lCF/4ikQyGR9WkRKJyXMxHKfZcax7SnUfS7LX9M x0jl83XtEYKiMHdMb58l2Q== 0000891554-00-000208.txt : 20000210 0000891554-00-000208.hdr.sgml : 20000210 ACCESSION NUMBER: 0000891554-00-000208 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000209 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: 527854 BUSINESS ADDRESS: STREET 1: 584 BROADWAY SUITE 509 CITY: NEW YORK STATE: NY ZIP: 10012 BUSINESS PHONE: 2123433920 MAIL ADDRESS: STREET 1: 584 BROADWAY SUITE 509 CITY: NEW YORK STATE: NY ZIP: 10012 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 SCHEDULE 13D AMENDMENT NO. 12 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.12)(1) CORNERSTONE INTERNET SOLUTIONS CO. - -------------------------------------------------------------------------------- Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 293636106 - -------------------------------------------------------------------------------- (CUSIP Number) Copy to: 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) December 14, 1999 - -------------------------------------------------------------------------------- (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 ss.ss. 240.13d - 1(e), 240.13d- 1(f) or 240.13d-1(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.ss. 240.13d-7 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 ("Act") 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. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Barry Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 263,000 shares 1.1% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 5,975,951 shares 25.7% Person With _________________________________________________________________ 9 Sole Dispositive Power 263,000 shares 1.1% _________________________________________________________________ 10 Shared Dispositive Power 5,975,951 shares 25.7% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 6,238,951 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) 26.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Woodland Venture Fund ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 150,000 shares 0.6% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 313,000 shares 1.3% Person With _________________________________________________________________ 9 Sole Dispositive Power 150,000 shares 0.6% _________________________________________________________________ 10 Shared Dispositive Power 313,000 shares 1.3% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Seneca Ventures ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 50,000 shares 0.2 % Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 413,000 shares 1.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 50,000 shares 0.2 % _________________________________________________________________ 10 Shared Dispositive Power 413,000 shares 1.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 4 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Woodland Services Corp. ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 463,000 shares 2.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 463,000 shares 2.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 5 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) 21st Century Communications Partners, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 2,162,234 shares 9.4% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 1,025,717 shares 4.4% Person With _________________________________________________________________ 9 Sole Dispositive Power 2,162,234 shares 9.4% _________________________________________________________________ 10 Shared Dispositive Power 1,025,717 shares 4.4% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 6 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons 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 (a) [_] of a Group (See Instructions) (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 Number of Shares 740,104 shares 3.2% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 2,447,847 shares 10.6% Person With _________________________________________________________________ 9 Sole Dispositive Power 740,104 shares 3.2% _________________________________________________________________ 10 Shared Dispositive Power 2,447,847 shares 10.6% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 7 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons 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 (a) [_] of a Group (See Instructions) (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 Number of Shares 285,613 shares 1.2% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 2,902,338 shares 12.6% Person With _________________________________________________________________ 9 Sole Dispositive Power 285,613 shares 1.2% _________________________________________________________________ 10 Shared Dispositive Power 2,902,338 shares 12.6% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 8 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Michael J. Marocco ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 9 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) John Kornreich ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 10 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Harvey Sandler ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 11 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Andrew Sandler ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 12 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Barry Fingerhut ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 1,000 shares 0.01% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 5,775,951 shares 25.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 1,000 shares 0.01% _________________________________________________________________ 10 Shared Dispositive Power 5,775,951 shares 25.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 5,776,951 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) 25.0% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 13 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Irwin Lieber ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 6,000 shares 0.01% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 5,775,951 shares 25.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 6,000 shares 0.01% _________________________________________________________________ 10 Shared Dispositive Power 5,775,951 shares 25.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 5,781,951 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) 25.0% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 14 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Woodland Partners ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 463,000 shares 2.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 463,000 shares 2.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 15 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Wheatley Partners II, L.P. (formerly, Applewood Associates, L.P.) ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 2,588,000 shares 11.2% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 0 shares 0% Person With _________________________________________________________________ 9 Sole Dispositive Power 2,588,000 shares 11.2% _________________________________________________________________ 10 Shared Dispositive Power 0 shares 0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 2,588,000 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) 11.2% ________________________________________________________________________________ 14 Type of Reporting Person PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 16 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Applewood Capital Corp. ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 2,588,000 shares 11.2% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 2,588,000 shares 11.2% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 2,588,000 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) 11.2% ________________________________________________________________________________ 14 Type of Reporting Person CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 17 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Seth Lieber ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 2,588,000 shares 11.2% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 2,588,000 shares 11.2% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 2,588,000 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) 11.2% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 18 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Jonathan Lieber ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 2,588,000 shares 11.2% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 2,588,000 shares 11.2% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 2,588,000 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) 11.2% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 19 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Marilyn Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 463,000 shares 2.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 463,000 shares 2.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 20 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons 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 (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 463,000 shares 2.0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 463,000 shares 2.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 463,000 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) 2.0% ________________________________________________________________________________ 14 Type of Reporting Person OO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 21 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Brian Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 0 shares 0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 0 shares 0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 0 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% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 22 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Rebecca Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 0 shares 0% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 0 shares 0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 0 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% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 23 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Douglas Schimmel ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 24 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Hannah Stone ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 25 of 38 CUSIP No. 293636106 13D 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) David Lee ________________________________________________________________________________ 2 Check the Appropriate Box If a Member (a) [_] of a Group (See Instructions) (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 Number of Shares 0 shares 0% Beneficially _________________________________________________________________ Owned 8 Shared Voting Power by Each Reporting 3,187,951 shares 13.8% Person With _________________________________________________________________ 9 Sole Dispositive Power 0 shares 0% _________________________________________________________________ 10 Shared Dispositive Power 3,187,951 shares 13.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned by Each Reporting Person 3,187,951 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) 13.8% ________________________________________________________________________________ 14 Type of Reporting Person IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 26 of 38 This statement, dated December 14, 1999, constitutes Amendment No. 12 to the Schedule 13D, dated September 11, 1995, regarding the reporting persons ownership of certain securities of Cornerstone Internet Solutions Co. (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. 12 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 4. Purpose of Transaction. Other than the reporting persons' purchase or sale of additional securities of the Issuer, no reporting person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D except as set forth herein. ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 13,669,292 shares of Common Stock outstanding as of August 31, 1999, as reported by the Issuer in its Form 10-Q for the quarter ended August 31, 1999 plus, 9,450,000 shares of Common Stock issued upon the conversion by the reporting persons of 7,560 shares of Class D Preferred Stock, in the aggregate, into Common Stock), of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of January 6, 2000. Page 27 of 38
Shares of Percentage of Shares Common Stock Percent of Voting of Common Stock Name Beneficially Owned(2) Control Beneficially Owned(2) ------ ------------------ ------- ------------------ Barry Rubenstein 6,238,951 (2,3,4,5,6) 26.8% 26.8% Woodland Venture Fund 463,000 (2,3,4) 2.0% 2.0% Seneca Ventures 463,000 (2,3,4) 2.0% 2.0% Woodland Services Corp. 463,000 (2,3,4) 2.0% 2.0% 21st Century 3,187,951 (3, 7) 13.8% 13.8% Communications Partners, L.P. 21st Century 3,187,951 (3,8 ) 13.8% 13.8% Communications T-E Partners, L.P. 21st Century 3,187,951 (3,9) 13.8% 13.8% Communications Foreign Partners, L.P. Michael Marocco 3,187,951 (3,6) 13.8% 13.8% John Kornreich 3,187,951 (3,6) 13.8% 13.8%
- ------------------------------ (2) Includes shares of Common Stock issuable upon the exercise of the options. (3) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therein. (4) Includes 50,500 shares of Common Stock held in Barry Rubenstein's Rollover IRA account, 37,500 shares of Common Stock owned by Barry Rubenstein, 150,000 shares of Common Stock owned by Woodland Venture Fund, and 50,000 shares of Common Stock owned by Seneca Ventures. (5) Includes 2,588,000 shares of Common Stock owned by Wheatley Partners II, L.P. (6) Includes 3,187,951 shares of Common Stock owned by 21st Century, T-E and Foreign. (7) Includes 2,162,234 shares of Common Stock. 21st Century disclaims beneficial ownership of 740,104 shares of Common Stock owned by T-E and 285,613 shares of Common Stock owned by Foreign. (8) Includes 740,104 shares of Common Stock. T-E disclaims beneficial ownership of 2,162,234 shares of Common Stock owned by 21st Century and 285,613 shares of Common Stock owned by Foreign. (9) Includes 285,613 shares of Common Stock. Foreign disclaims beneficial ownership of 2,162,234 shares of Common Stock owned by 21st Century and 740,104 shares of Common Stock owned by T-E. Page 28 of 38
Shares of Percentage of Shares Common Stock Percent of Voting of Common Stock Name Beneficially Owned(2) Control Beneficially Owned(2) ------ ------------------ ------- ------------------ Harvey Sandler 3,187,951 (3,6) 13.8% 13.8% Andrew Sandler 3,187,951 (3,6) 13.8% 13.8% Barry Fingerhut 5,776,951 (3,5,6) 25.0% 25.0% Irwin Lieber 5,781,951 (3,5,6) 25.0% 25.0% Woodland Partners 463,000 (2,3,4) 2.0% 2.0% Wheatley Partners II, L.P. 2,588,000 (5) 11.2% 11.2% Applewood Capital Corp. 2,588,000 (3,5) 11.2% 11.2% Seth Lieber 2,588,000 (3,5) 11.2% 11.2% Jonathan Lieber 2,588,000 (3,5) 11.2% 11.2% Marilyn Rubenstein 463,000 (2,3,4) 2.0% 2.0% The Marilyn and Barry 463,000 (2,3,4) 2.0% 2.0% Rubenstein Family Foundation Brian Rubenstein 0 0% 0% Rebecca Rubenstein 0 0% 0% Douglas Schimmel 3,187,951 (3,6) 13.8% 13.8% Hannah Stone 3,187,951 (3,6) 13.8% 13.8% David Lee 3,187,951 (3,6) 13.8% 13.8%
(b) Barry Rubenstein has sole power to vote and to dispose of 263,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 1.1% 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 Wheatley Partners II, L.P., Seneca, the Fund and Woodland Partners, Barry Rubenstein may be deemed to have shared power to vote and to depose of 5,975,951 shares of Common Stock, representing approximately 25.7% of the outstanding Common Stock. The Fund has sole power to vote and to dispose of 150,000 shares of Common Stock, representing approximately 0.6% of the outstanding Common Stock, and may be deemed to have shared power to vote and to dispose of 313,000 shares of Common Stock (including 125,000 shares Page 29 of 38 issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 1.3% of the outstanding Common Stock. Seneca has sole power to vote and to dispose of 50,000 shares of Common Stock, representing approximately 0.2% of the outstanding Common Stock, and may be deemed to have shared power to vote and to dispose of 413,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 1.8% of the outstanding Common Stock. Woodland Services Corp. has shared power to vote and to dispose of 463,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 2.0% of the outstanding Common Stock. 21st Century has sole power to vote and to dispose of 2,162,234 shares of Common Stock, representing approximately 9.4% of the outstanding Common Stock, and may be deemed to have shared power to vote and to dispose of 1,025,717 shares of Common Stock, representing approximately 4.4% of the outstanding Common Stock. T-E has sole power to vote and to dispose of 740,104 shares of Common Stock, representing approximately 3.2% of the outstanding Common Stock, and may be deemed to have shared power to vote and to dispose of 2,447,847 shares of Common Stock, representing approximately 10.6% of the outstanding Common Stock. Foreign has sole power to vote and to dispose of 285,613 shares of Common Stock, representing approximately 1.2% of the outstanding Common Stock, and may be deemed to have shared power to vote and to dispose of 2,902,338 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. By virtue of being the sole shareholder of MJDM Corp., Michael J. Marocco may be deemed to have shared power to vote and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% 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 and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% 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 and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% of the outstanding Common Stock. Page 30 of 38 By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may be deemed to have shared power to vote and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% of the outstanding Common Stock. Barry Fingerhut has sole power to vote and to dispose of 1,000 shares of Common Stock, representing approximately 0.01% of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Wheatley Partners II, L.P., Barry Fingerhut may be deemed to have shared power to vote and to dispose of 5,775,951 shares of Common Stock, representing approximately 25.0% of the outstanding Common Stock. Irwin Lieber has sole power to vote and to dispose of 6,000 shares of Common Stock, representing approximately 0.01% of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Wheatley Partners II, L.P., Irwin Lieber may be deemed to have shared power to vote and to dispose of 5,775,951 shares of Common Stock, representing approximately 25.0% of the outstanding Common Stock. Wheatley Partners II, L.P. has sole power to vote and to dispose of 2,588,000 shares of Common Stock, representing approximately 11.2% of the outstanding Common Stock. AC Corp. may be deemed to have shared power to vote and to dispose of 2,588,000 shares of Common Stock, representing approximately 11.2% of the outstanding Common Stock. By virtue of being a general partner of Wheatley Partners II, L.P. and an officer of AC Corp., Seth Lieber may be deemed to have shared power to vote and to dispose of 2,588,000 shares of Common Stock, representing approximately 11.2% of the outstanding Common Stock. By virtue of being a general partner of Wheatley Partners II, L.P. and an officer of AC Corp., Jonathan Lieber may be deemed to have shared power to vote and to dispose of 2,588,000 shares of Common Stock, representing approximately 11.2% of the outstanding Common Stock. Woodland Partners may be deemed to have shared power to vote and to dispose of 463,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 2.0% of the outstanding Common Stock. By virtue of being a general partner of Woodland Partners, a Trustee of the Foundation, an officer of Woodland Services Corp. and the wife of Barry Rubenstein, Marilyn Rubenstein may be deemed to have shared power to vote and to dispose of 463,000 shares of Common stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 2.0% of the outstanding Common Stock. Page 31 of 38 The Foundation may be deemed to have shared power to vote and to dispose of 463,000 shares of Common Stock (including 125,000 shares issuable upon the exercise of the Non-Qualified Option and 50,000 shares issuable upon the exercise of the Option), representing approximately 2.0% of the outstanding Common Stock. By virtue of being the sole shareholder of SERF Corp., Douglas Schimmel may be deemed to have shared power to vote and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% of the outstanding Common Stock. By virtue of being the sole shareholder of TERPSI Corp., Hannah Stone may be deemed to have shared power to vote and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% of the outstanding Common Stock. By virtue of being the sole shareholder of JIRAKAL Corp., David Lee may be deemed to have shared power to vote and to dispose of 3,187,951 shares of Common Stock, representing approximately 13.8% of the outstanding Common Stock. (c) The following is a description of all transactions in the securities of the Issuer by the persons identified in Item 2 of this Schedule 13D effected from October 13, 1999 through January 6, 2000, inclusive:
Date Purchased Number of Shares Price Per Name of Shareholder (Sold) Purchased or (Sold) Share - ------------------- ------ ------------------- ----- Barry Rubenstein 12/31/99 (100,000) $ 7.50 Barry Rubenstein 12/28/99 (110,000) $ 7.4375 Rollover IRA Woodland Venture Fund 12/14/99 (114,000) $ 10.125 12/16/99 (100,415) $ 7.875 12/29/99 (50,000) $ 8.875 12/31/99 (100,000) $ 7.50 Seneca Ventures 12/15/99 (75,000) $ 8.625 12/16/99 (68,636) $ 7.875 12/29/99 (50,000) $ 8.875 12/31/99 (100,000) $ 7.50 21st Century Communications 12/14/99 (169,507) $ 10.125 Partners, L.P. 12/15/99 (135,606) $ 8.625 12/21/99 (101,704) $ 7.4375 12/23/99 (67,800) $ 7.1875
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Date Purchased Number of Shares Price Per Name of Shareholder (Sold) Purchased or (Sold) Share - ------------------- ------ ------------------- ----- 12/30/99 (101,700) $ 7.50 12/31/99 (124,852) $ 7.50 12/31/99 (10,748) $ 7.50 1/5/00 (98,314) $ 6.5625 1/6/00 (101,704) $ 6.9375 21st Century Communications 12/14/99 (57,673) $ 10.125 T-E Partners, L.P. 12/15/99 (46,138) $ 8.625 12/21/99 (34,603) $ 7.4375 12/23/99 (23,000) $ 7.1875 12/30/99 (34,600) $ 7.50 12/31/99 (46,000) $ 7.50 1/5/00 (158) $ 6.5625 1/5/00 ( 33,292) $ 6.5625 1/6/00 (34,604) $ 6.9375 21st Century Communications 12/14/99 (22,820) $ 10.125 Foreign Partners, L.P. 12/15/99 (18,256) $ 8.625 12/21/99 (13,693) $ 7.4375 12/23/99 (9,200) $ 7.1875 12/30/99 (13,700) $ 7.50 12/31/99 (11,941) $ 7.50 12/31/99 (6,459) $ 7.50 1/5/00 (13,236) $ 6.5625 1/6/00 (13,692) $ 6.9375 Woodland Partners 12/14/99 (35,714) $ 10.125 12/14/99 (114,286) $ 10.125 12/15/99 (203,467) $ 8.625 12/16/99 (132,247) $ 7.875 Wheatley Partners II, L.P. 12/14/99 (400,000) $ 10.125 12/15/99 (346,533) $ 8.625
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Name of Shareholder (Sold) Purchased or (Sold) Share - ------------------- ------ ------------------- ----- 12/21/99 (200,000) $ 7.4375 12/28/99 (500,000) $ 7.4375 12/29/99 (200,000) $ 8.53125 12/30/99 (300,000) $ 7.50 12/30/99 (63,000) $ 7.53125 12/31/99 (506,000) $ 7.50 1/5/00 (300,000) $ 6.5625 1/6/00 (68,000) $ 7.125 1/6/00 (275,000) $ 6.9375 The Marilyn & Barry 12/14/99 (104,237) $ 10.875 Rubenstein Family Foundation
All sales of shares of Common Stock were effected in open market transactions in the over-the-counter market. On December 14, 1999, Woodland Partners converted 360 shares of Series D Preferred Stock into 450,000 shares of the Common Stock of the Issuer. On December 17, 1999, Wheatley Partners II, L.P., Woodland Venture Fund and Seneca Ventures converted 4,000 shares, 240 shares and 160 shares of Series D Preferred Stock, respectively, into 5,000,000 shares, 300,000 shares and 200,000 shares, respectively, of the Common Stock of the Issuer. On December 20, 1999, 21st Century Communications Partners, L.P., 21st Century Communications T-E Partners, L.P. and 21st Century Communications Foreign Partners, L.P, converted 1898.4 shares, 646.4 shares and 255.2 shares of Series D Preferred Stock, respectively, into 2,373,000 shares, 808,000 shares and 319,000 shares, respectively, of the Common Stock of the Issuer. (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) Effective December 14, 1999, Brian Rubenstein and Rebecca Rubenstein ceased to be beneficial owners of more than 5% of the Common Stock of this Issuer. Page 34 of 38 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: February 4, 2000 SENECA VENTURES /s/Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner WOODLAND VENTURE FUND /s/Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner WOODLAND SERVICES CORP. /s/Barry Rubenstein -------------------------- Barry Rubenstein, President WOODLAND PARTNERS /s/Barry Rubenstein -------------------------- Barry Rubenstein, A General Partner WHEATLEY PARTNERS II, L.P. /s/Irwin Lieber -------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. /s/Irwin Lieber -------------------------- Irwin Lieber, Secretary and Treasurer /s/Barry Rubenstein -------------------------- Barry Rubenstein /s/Barry Fingerhut -------------------------- Barry Fingerhut Page 35 of 38 /s/Irwin Lieber -------------------------- Irwin Lieber /s/Jonathan Lieber -------------------------- Jonathan Lieber /s/Seth Lieber -------------------------- Seth Lieber /s/Marilyn Rubenstein -------------------------- Marilyn Rubenstein THE MARILYN AND BARRY RUBENSTEIN FAMILY FOUNDATION By:/s/Barry Rubenstein -------------------------- Barry Rubenstein, a Trustee * -------------------------- Brian Rubenstein * -------------------------- Rebecca Rubenstein * By:/s/Barry Rubenstein - -------------------------- Barry Rubenstein Attorney-in-Fact Page 36 of 38 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:/s/Edward Grinacoff ----------------------------------------- Name: Edward Grinacoff Title: Secretary and 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:/s/Edward Grinacoff ----------------------------------------- Name: Edward Grinacoff Title: Secretary and 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:/s/Edward Grinacoff ----------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer Page 37 of 38 /s/Michael J. Marocco ------------------------------------ Michael J. Marocco /s/John Kornreich ------------------------------------ John Kornreich /s/Harvey Sandler ------------------------------------ Harvey Sandler /s/Andrew Sandler ------------------------------------ Andrew Sandler /s/Douglas Schimmel ------------------------------------ Douglas Schimmel /s/Hannah Stone ------------------------------------ Hannah Stone /s/David Lee ------------------------------------ David Lee ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). Page 38 of 38 -----END PRIVACY-ENHANCED MESSAGE-----