-----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, ONPrn4XkAY2Q2Ovua4iSWWFj4BdGbS1NuzyYe9zxkndZIHDM82G4CDDd1Ut0aTQ1 5m3jZejrtcnIivYceDPcYg== 0000905718-97-000378.txt : 19970912 0000905718-97-000378.hdr.sgml : 19970912 ACCESSION NUMBER: 0000905718-97-000378 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970910 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ASTA FUNDING INC CENTRAL INDEX KEY: 0001001258 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 223388607 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-44713 FILM NUMBER: 97678458 BUSINESS ADDRESS: STREET 1: 210 SYLVAN AVE CITY: ENGLEWOOD CLIFFS STATE: NJ ZIP: 07632 BUSINESS PHONE: 2015675648 MAIL ADDRESS: STREET 1: 210 SYLVAN AVE CITY: ENGLEWOOD CLIFFS STATE: NJ ZIP: 07632 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ASTA GROUP INC CENTRAL INDEX KEY: 0001005599 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 223411109 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 210 SYLVAN AVENUE CITY: ENGLEWOOD CLIFFS STATE: NY ZIP: 07632 BUSINESS PHONE: 2015675648 MAIL ADDRESS: STREET 1: 210 SYLVAN AVE CITY: ENGLEWOOD CLIFFS STATE: NJ ZIP: 07632 SC 13G/A 1 SC 13G/A FOR ASTA FUNDING, INC. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Asta Funding, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 046220109 - -------------------------------------------------------------------------------- (CUSIP Number) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("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. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Asta Group, Incorporated - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) ___ (b) ___ - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 352,500* (7) Sole Dispositive Power: (8) Shared Dispositive Power: 352,500* - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500* - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 7.9% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): CO - -------------------------------------------------------------------------------- * The 352,500 shares beneficially owned by the reporting persons are held in an escrow account pursuant to an agreement between the reporting persons, Asta Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering and certain other shareholders of Asta Funding, Inc. The 352,500 shares will only be released upon Asta Funding, Inc. attaining certain earnings goals or stock price goals. The reporting persons may vote but not transfer the 352,500 shares. CUSIP NO. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Arthur Stern - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) __________ (b) __________ - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States of America - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 352,500* (7) Sole Dispositive Power: (8) Shared Dispositive Power: 352,500* - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500* - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 7.9% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN - -------------------------------------------------------------------------------- * The 352,500 shares beneficially owned by the reporting persons are held in an escrow account pursuant to an agreement between the reporting persons, Asta Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering and certain other shareholders of Asta Funding, Inc. The 352,500 shares will only be released upon Asta Funding, Inc. attaining certain earnings goals or stock price goals. The reporting persons may vote but not transfer the 352,500 shares. CUSIP NO. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Gary Stern - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) _____ (b) ______ - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States of America - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 352,500* (7) Sole Dispositive Power: (8) Shared Dispositive Power: 352,500* - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 352,500* - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 7.9% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN - -------------------------------------------------------------------------------- * The 352,500 shares beneficially owned by the reporting persons are held in an escrow account pursuant to an agreement between the reporting persons, Asta Funding, Inc., the underwriters of Asta Funding, Inc.'s initial public offering and certain other shareholders of Asta Funding, Inc. The 352,500 shares will only be released upon Asta Funding, Inc. attaining certain earnings goals or stock price goals. The reporting persons may vote but not transfer the 352,500 shares. Item 1(a). Name Of Issuer: Asta Funding, Inc. - -------------------------------------------------------------------------------- Item 1(b). Address of Issuer's Principal Executive Offices: 210 Sylvan Avenue, Englewood Cliffs, New Jersey 07632 - -------------------------------------------------------------------------------- Item 2(a). Name of Person Filing: This Schedule 13G/A is being filed by Asta Group, Incorporated, a Delaware corporation ("Group"), Arthur Stern ("Arthur") and Gary Stern ("Gary") as joint filers pursuant to Rule 13d-1(f)(1). Group is a reporting person because it is the beneficial owner of record of the 352,500 shares of Common Stock, par value $.01 per share, of Asta Funding, Inc. Each of Arthur and Gary are reporting persons because under the rules promulgated by Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, they may be deemed to be a control person of Group through their ownership of Group common stock and their management positions with Group. - -------------------------------------------------------------------------------- Item 2(b). Address of Principal Business Office or, if None, Residence: 210 Sylvan Avenue, Englewood, New Jersey 07632. - -------------------------------------------------------------------------------- Item 2(c). Citizenship: Group is a Delaware corporation and both Arthur and Gary are citizens of the United States of America. - -------------------------------------------------------------------------------- Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per share, of Asta Funding, Inc. - -------------------------------------------------------------------------------- Item 2(e). CUSIP No.: 046220109 - -------------------------------------------------------------------------------- Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b), check whether the Person Filing is a Not Applicable (a) [ ] Broker or Dealer registered under Section 15 of the Act. (b) [ ] Bank as defined in section 3(a)(6) of the Act. (c) [ ] Insurance company as defined in section 3(a)(19) of the Act. (d) [ ] Investment Company registered under section 8 of the Investment Company Act. (e) [ ] Investment Adviser registered under section 203 of the Investment Advisers Act of 1940. (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment fund; see Rule 13d-1(b)(1)(ii)(H). (g) [ ] Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G) (Note: See Item 7). (h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H). Item 4. Ownership (a) Amount Beneficially Owned (as of August 15, 1997): 352,500 (b) Percent of Class (as of August 15, 1997): 7.9% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote --- (ii) shared power to vote or to direct the vote 352,500 (iii) sole power to dispose or to direct the disposition of --- (iv) shared power to dispose or to direct the disposition of 352,500 Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. Ownership of More Than Five Percent on Behalf of Another Person. N/A Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. N/A Item 8. Identification and Classification of Members of the Group. N/A Item 9. Notice of Dissolution of Group. N/A Item 10. Certification. N/A SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. September 9, 1997 (Date) ASTA GROUP, INCORPORATED By: /s/ Arthur Stern _________________________ Arthur Stern, President /s/ Arthur Stern ____________________________ Arthur Stern /s/ Gary Stern ___________________________ Gary Stern ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001) EXHIBIT A JOINT FILING AGREEMENT Asta Group, Incorporated, a Delaware corporation, Arthur Stern and Gary Stern hereby agree that the Schedule 13G/A filed herewith relating to the shares of Common Stock, par value $.01 per share, of Asta Funding, Inc., a Delaware corporation, is filed jointly on behalf of each such person pursuant to Rule 13d-1(f)(1). September 9, 1997 (Date) ASTA GROUP, INCORPORATED By: /s/ Arthur Stern ____________________________ Arthur Stern, President /s/ Arthur Stern ____________________________ Arthur Stern /s/ Gary Stern _____________________________ Gary Stern SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _______)* Asta Funding, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 046220109 - -------------------------------------------------------------------------------- (CUSIP Number) Check the following box if a fee is being paid with this statement |X|. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7). *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("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. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Asta Group, Incorporated - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a)_________ (b) X - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: New York - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 2,605,000 (7) Sole Dispositive Power: (8) Shared Dispositive Power: 2,605,000 - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000 - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 58.4% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): CO - -------------------------------------------------------------------------------- CUSIP NO. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Arthur Stern - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) ___X____ - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States of America - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 2,605,000 (7) Sole Dispositive Power: (8) Shared Dispositive Power: 2,605,000 - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000 - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 58.4% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN - -------------------------------------------------------------------------------- CUSIP NO. 046220109 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons: Gary Stern - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a)___________ (b) X - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States of America - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each (5) Sole Voting Reporting Person With Power: (6) Shared Voting Power: 2,605,000 (7) Sole Dispositive Power: (8) Shared Dispositive Power: 2,605,000 - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,605,000 - -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 58.4% - -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN - -------------------------------------------------------------------------------- Item 1(a). Name Of Issuer: Asta Funding, Inc. - -------------------------------------------------------------------------------- Item 1(b). Address of Issuer's Principal Executive Offices: 210 Sylvan Avenue, Englewood Cliffs, New Jersey 07632 - -------------------------------------------------------------------------------- Item 2(a). Name of Person Filing: This statement is being filed by Asta Group, Incorporated, a New York corporation ("Group"), Arthur Stern ("Arthur") and Gary Stern ("Gary"). Group is making the filing because it owns of record the shares of Common Stock, par value $.01 per share, of Asta Funding, Inc. reported as beneficially owned by it. Each of Arthur and Gary are making this filing because under rules promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, may be deemed to be, through his ownership of shares of common stock of Group and his management position with Group, a control person of Group. - -------------------------------------------------------------------------------- Item 2(b). Address of Principal Business Office or, if None, Residence: The principal business office of each of Group, Arthur and Gary is 210 Sylvan Avenue, Englewood Cliffs, New Jersey 07632. - -------------------------------------------------------------------------------- Item 2(c). Citizenship: Group is a New York corporation. Each of Arthur and Gary is a citizen of the United States of America. - -------------------------------------------------------------------------------- Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per share, of Asta Funding, Inc. ("Common Stock") - -------------------------------------------------------------------------------- Item 2(e). CUSIP No.: 046220109 - -------------------------------------------------------------------------------- Item 3. If This Statement Is Filed Pursuant to Rules 13d-1(b), or 13d-2(b), check whether the Person Filing is a Not applicable - -------------------------------------------------------------------------------- Item 4. Ownership (a) Amount Beneficially Owned: 2,605,000 (b) Percent of Class: 58.4% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote: None (ii) shared power to vote or to direct the vote: 2,605,000 (iii) sole power to dispose or to direct the disposition of: None (iv) shared power to dispose or to direct the disposition of: 2,605,000 Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. Ownership of More Than Five Percent on Behalf of Another Person Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable Item 8. Identification and Classification of Members of the Group. Not applicable Item 9. Notice of Dissolution of Group. Not applicable Item 10. Certification Not applicable SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. December 19, 1995 (Date) ASTA GROUP, INCORPORATED By: /s/ Arthur Stern _________________________ Arthur Stern, President /s/ Arthur Stern _______________________________ Arthur Stern /s/ Gary Stern _________________________________ Gary Stern EXHIBIT A JOINT FILING AGREEMENT Asta Group, Incorporated, a New York corporation, Arthur Stern and Gary Stern hereby agree that the Statement on Schedule 13G filed herewith and any amendments thereto relating to the shares of Common Stock, par value $.01 per share, of Asta Funding, Inc., a Delaware corporation, is filed jointly on behalf of each such person. December 19, 1995 (Date) ASTA GROUP, INCORPORATED By: /s/ Arthur Stern ________________________ Arthur Stern, President /s/ Arthur Stern ____________________________ Arthur Stern /s/ Gary Stern ____________________________ Gary Stern -----END PRIVACY-ENHANCED MESSAGE-----