-----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, WsFRBws1KE30+adzyu7IF/8S3e0mv0Kwr2TVL/QNOz1Bdpov/A0A4JmM0pANvT/s jZFJspDe46gDNe7eXrFI3Q== 0000950146-98-002014.txt : 19981126 0000950146-98-002014.hdr.sgml : 19981126 ACCESSION NUMBER: 0000950146-98-002014 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981125 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: 98759425 BUSINESS ADDRESS: STREET 1: 25 WEST 45TH ST CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2122216559 MAIL ADDRESS: STREET 1: 25 WEST 45TH ST CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: ENTERACTIVE INC /DE/ DATE OF NAME CHANGE: 19940907 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SENECA VENTURES CENTRAL INDEX KEY: 0001014876 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 68 WHEATLEY RD CITY: BROOKVILLE STATE: NY ZIP: 11545 BUSINESS PHONE: 2127358600 SC 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a). (Amendment No. 8)(1) CORNERSTONE INTERNET SOLUTIONS CO. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 293636106 ----------------- (CUSIP Number) Copy to: Stephen A. Cohen, Esq. Seneca Ventures Morrison Cohen Singer & Weinstein, LLP 68 Wheatley Road 750 Lexington Avenue Brookville, New York 11545 New York, New York 10022 Telephone (516) 626-3070 Telephone (212) 735-8600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) November 6, 1998 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e, 13d-1(f) or 13d-(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following page(s)) - -------- (1) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 473,000 shares 1.8% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 14,177,726 shares 53.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 473,000 shares 4.0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 2,634,686 shares 22.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 3,107,686 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 25.6% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 2 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Venture Fund | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 624,575 shares 2.4% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,553,467 shares 5.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 214,415 shares 1.9% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 756,587 shares 6.4% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 3 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Seneca Ventures | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 417,076 shares 1.6% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,760,966 shares 6.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 143,636 shares 1.2% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 827,366 shares 7.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 4 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Services Corp. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,178,042 shares 8.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 971,002 shares 8.3% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | CO ================================================================================ Page 5 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names 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 of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 3,696,573 shares 14.1% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,754,378 shares 6.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 701,169 shares 6.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 331,782 shares 2.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 6 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names 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 of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 1,262,046 shares 4.8% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,188,905 shares 15.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 242,172 shares 2.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 790,779 shares 6.8% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 7 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names 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 of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization Delaware | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 492,332 shares 1.9% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 4,958,619 shares `18.9% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 89,610 shares 0.8% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 943,341 shares 8.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 8 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Michael J. Marocco | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,450,951 shares 20.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 9 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | John Kornreich | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,450,951 shares 20.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 10 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Harvey Sandler | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,450,951 shares 20.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 11 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Andrew Sandler | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 5,450,951 shares 20.7% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,032,951 shares 8.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,032,951 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 12 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Fingerhut | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 1,000 shares 0.01% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 12,072,684 shares 46.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 1,000 shares 0.01% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,736,684 shares 15.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,737,684 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 15.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 13 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Irwin Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 23,000 shares 0.1% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 12,072,684 shares 46.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 23,000 shares 0.2% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 1,736,684 shares 15.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 1,759,684 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 15.2% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 14 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Woodland Partners | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 559,154 shares 2.1% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 1,618,888 shares 6.1% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 35,714 shares 0.3% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 935,288 shares 8.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 15 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Associates, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) WC, OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 6,621,733 shares 25.2% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 0 shares 0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 703,733 shares 6.1% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 0 shares 0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | PN ================================================================================ Page 16 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Capital Corp. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 6,621,733 shares 25.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | CO ================================================================================ Page 17 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Seth Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 6,621,733 shares 25.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 18 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Jonathan Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 6,621,733 shares 25.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 703,733 shares 6.1% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 703,733 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 6.1% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 19 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Marilyn Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,178,042 shares 8.2% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 971,002 shares 8.3% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 20 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names 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 of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 104,237 shares 0.4% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 2,073,805 shares 7.8% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 104,237 shares 0.9% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 866,765 shares 7.4% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 971,002 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 8.3% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | OO ================================================================================ Page 21 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Brian Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 104,237 shares 0.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 104,237 shares 0.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 104,237 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 0.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 22 of 36 CUSIP No. 293636106 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Rebecca Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group (See Instructions)(a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds (See Instructions) OO | - -------------------------------------------------------------------------------- 5 |Check Box if Disclosure of Legal Proceedings is Required |_| |Pursuant to Item 2(d) or 2(e) - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 104,237 shares 0.4% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 104,237 shares 0.9% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 104,237 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares |_| | (See Instructions) - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 0.9% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person (See Instructions) | IN ================================================================================ Page 23 of 36 This statement, dated November 6, 1998, constitutes Amendment No. 8 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. 8 to the Schedule is filed in accordance with Rule 13d-2 of the Securities Exchange Act of 1934, as amended, by the reporting persons. It shall refer only to information which has materially changed since the filing of the Schedule. ITEM 1. Security and Issuer Class D Convertible Preferred Stock, $.01 par value (the "Class D Preferred Stock"). The holders of the Class D Preferred Stock shall be entitled upon the earlier of (i) June 30, 2000, or (ii) at any time after the closing price of the Common Stock shall have been at least $1.50 per share (subject to adjustment in the event of subdivision or combination of the shares of Common Stock) on 15 trading days during any 20 trading day period, to convert each share of Class D Preferred Stock into such whole number of shares of Common Stock as is equal to the aggregate stated value of the Class D Preferred Stock divided by $1.00. Each share of Class D Preferred Stock has a stated value equal to $1,250. For purposes of calculating the number of voting rights for the Class D Preferred Stock, the stated value of the Class D Preferred Stock was divided by $1.00. In the event of any voluntary or involuntary liquidation, dissolution, winding up of the Issuer or a change of control (as defined in the Issuer's Certificate of Designations, Preferences and Other Rights and Qualifications of Class D Preferred Stock), the Class D Preferred Stock is entitled to receive prior to any distribution to certain other holders an amount equal to the stated value of the Class D Preferred Stock ($1,250 per share) multiplied by 1.1 for each share of Class D Preferred Stock then outstanding. For purposes of calculating the number of voting rights for the Preferred Stock, the Stated Value of the Preferred Stock was divided by $0.73125, or 50% of the average closing sale price for the Common Stock for the last ten trading days in the fiscal quarter prior to September 1, 1998. For purposes of calculating the number of voting rights for the Class B Preferred Stock, the Stated Value of the Preferred Stock was divided by $1.00. Page 24 of 36 ITEM 3. Source and Amount of Funds or Other Consideration On November 6, 1998, each of Applewood Associates, L.P., 21st Century, T-E and Foreign acquired 800, 542.4, 184.8 and 72.8 shares of Class D Preferred Stock, respectively, in a private placement. The amount of cash used in acquiring the shares of Class D Preferred Stock is set forth below:
Purchase Price -------------- Applewood Associates, L.P. $1,000,000 21st Century Communications 678,000 Partners, L.P. 21st Century Communications 231,000 T-E Partners, L.P. 21st Century Communications 91,000 Foreign Partners, L.P.
The source of funds for the acquisition of the Class D Preferred Stock was the general working capital of each of Applewood Associates, L.P., 21st Century, T-E and Foreign. ITEM 4. Purpose of Transaction. The reporting persons acquired their securities for purposes of investment. The reporting persons do not have any present plan or proposal which would relate to or result in any of the actions set forth in subparagraphs (a) through (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 11,574,895 shares of Common Stock, outstanding as of August 31, 1998, as reported by the Issuer in its Form 10-Q for the quarter ended August 31, 1998) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of November 6, 1998: Page 25 of 36
Shares of Percentage of Shares Common Stock Percent of of Common Stock Name Beneficially Owned(2) Voting Control(3) Beneficially Owned(2) - -------------------------- --------------------- ---------------- --------------------- Barry Rubenstein 3,107,686(4)(5)(6)(7) 54.6% 25.6% Woodland Venture Fund 971,002(4) 8.2% 8.3% Seneca Ventures 971,002(4) 8.2% 8.3% Woodland Services Corp. 971,002(4) 8.2% 8.3% 21st Century 1,032,951(4)(8) 20.7% 8.9% Communications Partners, L.P. 21st Century 1,032,951(4)(9) 20.7% 8.9% Communications T-E Partners, L.P. 21st Century 1,032,951(4)(10) 20.7% 8.9% Communications Foreign Partners, L.P. Michael Marocco 1,032,951(4)(7) 20.7% 8.9% John Kornreich 1,032,951(4)(7) 20.7% 8.9%
- -------------------- (2) Includes shares of Common Stock issuable upon the exercise of the warrants and the Rev-Wood Option. (3) Includes voting rights from the Preferred, voting rights from the Class B Preferred Stock and voting rights from the Class D Preferred Stock. (4) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therin. (5) Includes 400,000 shares of Common Stock issuable upon the exercise of the Rev-Wood Warrant, and 160,500 shares of Common Stock held in Barry Rubenstein's Rollover IRA account. (6) Includes 703,733 shares of Common Stock owned by Applewood. (7) Includes 1,032,951 shares of Common Stock owned by 21st Century, T-E and Foreign. (8) Includes 701,169 shares of Common Stock. 21st Century disclaims beneficial ownership of 242,172 shares of Common Stock owned by T-E and 89,610 shares of Common Stock owned by Foreign. (9) Includes 242,172 shares of Common Stock. T-E disclaims beneficial ownership of 701,169 shares of Common Stock owned by 21st Century and 89,610 shares of Common Stock owned by Foreign. (10) Includes 89,610 shares of Common Stock. Foreign disclaims beneficial ownership of 701,169 shares of Common Stock owned by 21st Century and 242,172 shares of Common Stock owned by T-E. Page 26 of 36
Shares of Percentage of Shares Common Stock Percent of of Common Stock Name Beneficially Owned(2) Voting Control(3) Beneficially Owned(2) - -------------------------- --------------------- ---------------- --------------------- Harvey Sandler 1,032,951(4)(7) 20.7% 8.9% Andrew Sandler 1,032,951(4)(7) 20.7% 8.9% Barry Fingerhut 1,737,684(4)(6)(7) 46.0% 15.0% Irwin Lieber 1,759,684(4)(6)(7) 46.0% 15.2% Woodland Partners 971,002(4) 8.2% 8.3% Applewood Associates, 703,733(6) 25.2% 6.1% L.P Applewood Capital Corp. 703,733(4)(6) 25.2% 6.1% Seth Lieber 703,733(4)(6) 25.2% 6.1% Jonathan Lieber 703,733(4)(6) 25.2% 6.1% Marilyn Rubenstein 971,002(4) 8.2% 8.3% The Marilyn and Barry 971,002(4) 8.2% 8.3% Rubenstein Family Foundation Brian Rubenstein 104,237(4) 0.4% 0.9% Rebecca Rubenstein 104,237(4) 0.4% 0.9%
(b) Barry Rubenstein has sole power to vote and to dispose of 473,000 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% and 4.0%, respectively, of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia, a Trustee of the Foundation and a general partner of Applewood, Seneca, the Fund, Woodland Partners and Rev-Wood, Barry Rubenstein may be deemed to have shared power to vote 14,177,726 shares of Common Stock (including 7,793,040 voting rights from the Preferred Stock, 400,000 shares issuable upon the exercise of the Rev-Wood Warrant, 1,750,000 voting rights from the Class B Preferred Stock and 2,000,000 voting rights from the Class D Preferred Stock), representing approximately 53.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 2,634,686 shares of Common Stock (including 400,000 shares issuable upon the exercise of the Rev-Wood Warrant), representing approximately 22.0% of the outstanding Common Stock. The Fund has sole power to vote 624,575 shares of Common Stock, representing approximately 2.4% of the outstanding Common Stock (including 410,160 voting rights from the Page 27 of 36 Preferred Stock), and may be deemed to have shared power to vote 1,553,467 shares of Common Stock (including 546,880 voting rights from the Preferred Stock, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 250,000 voting rights from the Class B Preferred Stock), representing approximately 5.9% of the outstanding Common Stock. The Fund has the sole power to dispose of 214,415 shares of Common Stock, representing approximately 1.9% of the outstanding Common Stock, and shared power to dispose of 756,587 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 6.4% of the outstanding Common Stock. Seneca has sole power to vote 417,076 shares of Common Stock, representing approximately 1.6% of the outstanding Common Stock (including 273,440 voting rights from the Preferred Stock), and may be deemed to have shared power to vote 1,760,966 shares of Common Stock (including 683,600 voting rights from the Preferred Stock, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 250,000 voting rights from the Class B Preferred Stock), representing approximately 6.7% of the outstanding Common Stock. Seneca has sole power to dispose of 143,636 shares of Common Stock, representing approximately 1.2% of the outstanding Common Stock, and shared power to dispose of 827,366 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 7.0% of the outstanding Common Stock. Woodland Services Corp. has shared power to vote 2,178,042 shares of Common Stock (including 957,040 voting rights from the Preferred Stock, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 250,000 voting rights from the Class B Preferred Stock), representing approximately 8.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 971,002 shares of Common Stock (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 8.3% of the outstanding Common Stock. 21st Century has sole power to vote 3,696,573 shares of Common Stock (including 2,317,404 voting rights from the Preferred Stock and 678,000 voting rights from the Class D Preferred Stock), representing approximately 14.1% of the outstanding Common Stock, and may be deemed to have shared power to vote 1,754,378 shares of Common Stock (including 1,100,596 voting rights from the Preferred Stock and 322,000 voting rights from the Class D Preferred Stock), representing approximately 6.7% of the outstanding Common Stock. 21st Century has sole power to dispose of 701,169 shares of Common Stock, representing approximately 6.1% of the outstanding shares of Common Stock, and may be deemed to have shared power to dispose of 331,782 shares of Common Stock, representing approximately 2.9% of the outstanding Common Stock. T-E has sole power to vote 1,262,046 shares of Common Stock (including 788,874 voting rights from the Preferred Stock and 231,000 voting rights from the Class D Preferred Stock), Pafe 28 of 36 representing approximately 4.8% of the outstanding Common Stock, and may be deemed to have shared power to vote 4,188,905 shares of Common Stock (including 2,629,126 voting rights from the Preferred Stock and 769,000 voting rights from the Class D Preferred Stock), representing approximately 15.9% of the outstanding Common Stock. T-E has sole power to dispose of 242,172 shares of Common Stock, representing approximately 2.1% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 790,779 shares of Common Stock, representing approximately 6.8% of the outstanding Common Stock. Foreign has sole power to vote 492,332 shares of Common Stock (including 311,722 voting rights from the Preferred Stock and 91,000 voting rights from the Class D Preferred Stock), representing approximately 1.9% of the outstanding Common Stock. Foreign may be deemed to have shared power to vote 4,958,619 shares of Common Stock (including 3,106,278 voting rights from the Preferred Stock and 909,000 voting rights from the Class D Preferred Stock), representing approximately 18.9% of the outstanding Common Stock. Foreign has sole power to dispose of 89,610 shares of Common Stock, representing approximately 0.8% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 943,341 shares of Common Stock, representing approximately 8.1% 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 5,450,951 shares of Common Stock, representing approximately 20.7% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock, representing approximately 8.9% of the outstanding Common Stock. By virtue of being the majority shareholder of Four JK Corp., John Kornreich may be deemed to have shared power to vote 5,450,951 shares of Common Stock, representing approximately 20.7% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock, representing approximately 8.9% of the outstanding Common Stock. By virtue of being the sole shareholder of ARH Corp., Harvey Sandler may be deemed to have shared power to vote 5,450,951 shares of Common Stock, representing approximately 20.7% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), and may be deemed to have shared power to dispose of 1,032,951 shares of Common Stock, representing approximately 8.9% of the outstanding Common Stock. By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may be deemed to have shared power to vote 5,450,951 shares of Common Stock, representing approximately 20.7% of the outstanding Common Stock (including 3,418,000 voting rights from the Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), and may be deemed to have shared power Page 29 of 36 to dispose of 1,032,951 shares of Common Stock, representing approximately 8.9% of the outstanding Common Stock. Barry Fingerhut has sole power to vote and dispose of 1,000 shares of Common Stock, representing approximately 0.01% and 0.01%, respectively of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Barry Fingerhut may be deemed to have shared power to vote 12,072,684 shares of Common Stock (including 6,836,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 2,000,000 voting rights from the Class D Preferred Stock), representing approximately 46.0% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 1,736,684 shares of Common Stock, representing approximately 15.0% of the outstanding Common Stock. Irwin Lieber has sole power to vote and dispose of 23,000 shares of Common Stock (including 17,000 shares issuable upon the exercise of the warrants), representing approximately 0.1% and 0.2%, respectively of the outstanding Common Stock. By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Irwin Lieber may be deemed to have shared power to vote 12,072,684 shares of Common Stock (including 6,836,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 2,000,000 voting rights from the Class D Preferred Stock), representing approximately 46.0% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 1,736,684 shares of Common Stock, representing approximately 15.0% of the outstanding Common Stock. Applewood has sole power to vote 6,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), representing approximately 25.2% of the outstanding Common Stock, and has sole power to dispose of 703,733 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. AC Corp. may be deemed to have shared power to vote 6,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), representing approximately 25.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. By virtue of being a general partner of Applewood and an officer of AC Corp., Seth Lieber may be deemed to have shared power to vote 6,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), representing approximately 25.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. Page 30 of 36 By virtue of being a general partner of Applewood and an officer of AC Corp., Jonathan Lieber may be deemed to have shared power to vote 6,621,733 shares of Common Stock (including 3,418,000 voting rights from the Preferred Stock, 1,500,000 voting rights from the Class B Preferred Stock and 1,000,000 voting rights from the Class D Preferred Stock), representing approximately 25.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 703,733 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. Woodland Partners has sole power to vote 559,154 shares of Common Stock, representing approximately 2.1% of the outstanding Common Stock (including 273,440 voting rights from the Preferred Stock and 250,000 voting rights from the Class B Preferred Stock), and may be deemed to have shared power to vote 1,618,888 shares of Common Stock (including 683,600 voting rights from the Preferred Stock, 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 6.1% of the outstanding Common Stock. Woodland Partners has sole power to dispose of 35,714 shares of Common Stock, representing approximately 0.3% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 935,288 shares of Common Stock (including 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 8.0% 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 2,178,042 shares of Common stock (including 957,040 voting rights from the Preferred Stock, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 250,000 voting rights from the Class B Preferred Stock), representing approximately 8.2% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 971,002 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 8.3% of the outstanding Common Stock. The Foundation has sole power to vote 104,237 shares of Common Stock, representing approximately 0.4% of the outstanding Common Stock, and may be deemed to have shared power to vote 2,073,805 shares of Common Stock (including 957,040 voting rights from the Preferred Stock, 125,000 shares issuable upon the exercise of the Non-Qualified Option, 50,000 shares issuable upon the exercise of the Option and 250,000 voting rights from the Class B Preferred Stock), representing approximately 7.8% of the outstanding Common Stock. The Foundation has sole power to dispose of 104,237 shares of Common Stock, representing approximately 0.9% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 866,765 shares of Common Stock (including 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 7.4% of the outstanding Common Stock. Page 31 of 36 By virtue of being a Trustee of the Foundation, Brian Rubenstein may be deemed to have shared power to vote 104,237 shares of Common Stock, representing approximately 0.4% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 104,237 shares of Common Stock, representing approximately 0.9% of the outstanding Common Stock. By virtue of being a Trustee of the Foundation, Rebecca Rubenstein may be deemed to have shared power to vote 104,237 shares of Common Stock, representing approximately 0.4% of the outstanding Common Stock, and may be deemed to have shared power to dispose of 104,237 shares of Common Stock, representing approximately 0.9% 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 8, 1998 through November 6, 1998, inclusive:
Number of Shares of Class Purchase or Sale D Preferred Stock Purchase or Sale Price Name of Shareholder Date Purchased or (Sold) Per Share - ------------------- ---------------- ------------------------- ---------------------- Applewood Associates, L.P. 11/6/98 800 $1,250.00 21st Century Communications 11/6/98 542.4 $1,250.00 Partners, L.P. 21st Century Communications 11/6/98 184.8 $1,250.00 T-E Partners, L.P. 21st Century Communications Foreign 11/6/98 72.8 $1,250.00 Partners, L.P.
(d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of such securities. (e) Not applicable. Page 32 of 36 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: November 20, 1998 SENECA VENTURES Barry Rubenstein ---------------------------- Barry Rubenstein, A General Partner WOODLAND VENTURE FUND Barry Rubenstein ---------------------------- Barry Rubenstein, A General Partner WOODLAND SERVICES CORP. Barry Rubenstein ---------------------------- Barry Rubenstein, President WOODLAND PARTNERS Barry Rubenstein ---------------------------- Barry Rubenstein, A General Partner APPLEWOOD ASSOCIATES, L.P. Irwin Lieber ---------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. Barry Rubenstein ---------------------------- Barry Rubenstein, President Barry Rubenstein ---------------------------- Barry Rubenstein Barry Fingerhut ---------------------------- Barry Fingerhut Page 33 of 36 Irwin Lieber ---------------------------- Irwin Lieber Jonathan Lieber ---------------------------- Jonathan Lieber Seth Lieber ---------------------------- Seth Lieber Marilyn Rubenstein ---------------------------- Marilyn Rubenstein THE MARILYN AND BARRY RUBENSTEIN FAMILY FOUNDATION By: Barry Rubenstein --------------------------- Barry Rubenstein, a Trustee * ---------------------------- Brian Rubenstein * ---------------------------- Rebecca Rubenstein * By: Barry Rubenstein ---------------------- Barry Rubenstein Attorney-in-Fact Page 34 of 36 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: Edward Grinacoff ---------------------------- Name: Edward Grinacoff Title: 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: 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: Edward Grinacoff ---------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer Page 35 of 36 Michael J. Marocco ---------------------------- Michael J. Marocco John Kornreich ---------------------------- John Kornreich Harvey Sandler ---------------------------- Harvey Sandler Andrew Sandler ---------------------------- Andrew Sandler ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). Page 36 of 36 -----END PRIVACY-ENHANCED MESSAGE-----