-----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, PQUQRVZdZUAL1csV0m7LTtDZE+3TIVaFZjkkhzCSbES1xTlSc0vnpp4f+WcOF4yS PjkZYyi3qqojrwxUoWWMaQ== 0000950116-98-000136.txt : 19980128 0000950116-98-000136.hdr.sgml : 19980128 ACCESSION NUMBER: 0000950116-98-000136 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980127 SROS: NONE GROUP MEMBERS: JOSEPH SORBARA GROUP MEMBERS: JOSEPH STEVENS & CO. INC. GROUP MEMBERS: SETVEN MARKOWITZ GROUP MEMBERS: STEVENS JOSEPH & CO INC//NY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC PHARMACEUTICALS INC CENTRAL INDEX KEY: 0001001316 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 363898269 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-51051 FILM NUMBER: 98514134 BUSINESS ADDRESS: STREET 1: 1017 MAIN CAMPUS DRIVE STREET 2: SUITE 3900 CITY: RALEIGH STATE: NC ZIP: 27606 BUSINESS PHONE: 4157261327 MAIL ADDRESS: STREET 1: 142 CYPRESS POINT RD CITY: HALF MOON BAY STATE: CA ZIP: 94019 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STEVENS JOSEPH & CO INC//NY CENTRAL INDEX KEY: 0000919038 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 113182400 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 33 MAIDEN LANE-8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10038 BUSINESS PHONE: 2123613000 MAIL ADDRESS: STREET 1: 33 MAIDEN LANE CITY: NEW YORK STATE: NY ZIP: 10038 SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No. 1)* Atlantic Pharmaceuticals, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 048785 10 9 -------------- (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. 048785 10 9 SCHEDULE 13G Page 2 of 10 Pages ________________________________________________________________________________ 1 | NAME OF REPORTING PERSON | S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | Joseph Stevens & Company, Inc. (successor to Joseph Stevens & | Company, L.P.) ________|_______________________________________________________________________ 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] | (b) [ ] ________|_______________________________________________________________________ 3 | SEC USE ONLY ________|_______________________________________________________________________ 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | New York ________|_______________________________________________________________________ | 5 | SOLE VOTING POWER | | 330,000 shares of Common Stock. See Item 4. |_____|__________________________________________________________ NUMBER OF | | SHARES | 6 | SHARED VOTING POWER BENEFICIALLY |_____|__________________________________________________________ OWNED BY | | EACH | 7 | SOLE DISPOSITIVE POWER REPORTING | | 330,000 shares of Common Stock. See Item 4. PERSON WITH |_____|__________________________________________________________ | | | 8 | SHARED DISPOSITIVE POWER _______________|_____|__________________________________________________________ 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 330,000 shares of Common Stock. See Item 4. _______|________________________________________________________________________ 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | CERTAIN SHARES [ ] _______|________________________________________________________________________ 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 9.9% of shares of Common Stock. See Item 4. _______|________________________________________________________________________ 12 | TYPE OF REPORTING PERSON | BD _______|________________________________________________________________________ ________________________________________________________________________________ CUSIP No. 048785 10 9 SCHEDULE 13G Page 3 of 10 Pages ________________________________________________________________________________ 1 | NAME OF REPORTING PERSON | S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | Joseph Sorbara ________|_______________________________________________________________________ 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] | (b) [ ] ________|_______________________________________________________________________ 3 | SEC USE ONLY ________|_______________________________________________________________________ 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | United States ________|_______________________________________________________________________ | 5 | SOLE VOTING POWER | | 330,000 shares of Common Stock. See Item 4. |_____|__________________________________________________________ NUMBER OF | | SHARES | 6 | SHARED VOTING POWER BENEFICIALLY |_____|__________________________________________________________ OWNED BY | | EACH | 7 | SOLE DISPOSITIVE POWER REPORTING | | 330,000 shares of Common Stock. See Item 4. PERSON WITH |_____|__________________________________________________________ | | | 8 | SHARED DISPOSITIVE POWER _______________|_____|__________________________________________________________ 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 330,000 shares of Common Stock. See Item 4. _______|________________________________________________________________________ 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | CERTAIN SHARES [ ] _______|________________________________________________________________________ 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 9.9% of shares of Common Stock. See Item 4. _______|________________________________________________________________________ 12 | TYPE OF REPORTING PERSON | IN _______|________________________________________________________________________ ________________________________________________________________________________ CUSIP No. 048785 10 9 SCHEDULE 13G Page 4 of 10 Pages ________________________________________________________________________________ 1 | NAME OF REPORTING PERSON | S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | Steven Markowitz ________|_______________________________________________________________________ 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] | (b) [ ] ________|_______________________________________________________________________ 3 | SEC USE ONLY ________|_______________________________________________________________________ 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | United States ________|_______________________________________________________________________ | 5 | SOLE VOTING POWER | | 330,000 shares of Common Stock. See Item 4. |_____|__________________________________________________________ NUMBER OF | | SHARES | 6 | SHARED VOTING POWER BENEFICIALLY |_____|__________________________________________________________ OWNED BY | | EACH | 7 | SOLE DISPOSITIVE POWER REPORTING | | 330,000 shares of Common Stock. See Item 4. PERSON WITH |_____|__________________________________________________________ | | | 8 | SHARED DISPOSITIVE POWER _______________|_____|__________________________________________________________ 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | 330,000 shares of Common Stock. See Item 4. _______|________________________________________________________________________ 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES | CERTAIN SHARES [ ] _______|________________________________________________________________________ 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 9.9% of shares of Common Stock. See Item 4. _______|________________________________________________________________________ 12 | TYPE OF REPORTING PERSON | IN _______|________________________________________________________________________ - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 5 of 10 Pages - -------------------------------- ----------------------- ITEM 1. (a) Name of Issuer: Atlantic Pharmaceuticals, Inc. (b) Address of Issuer's Principal Executive Offices: 142 Cypress Point Road Half Moon Bay, California 94019 ITEM 2. (a) Name of Person Filing: Joseph Stevens and Company, Inc. (successor to Joseph Stevens & Company, L.P.), Mr. Joseph Sorbara and Mr. Steven Markowitz (b) Address of Principal Business Office: The principal business address for each of Joseph Stevens & Company, Inc. and Messrs. Sorbara and Markowitz is: c/o Joseph Stevens & Company, Inc. 33 Maiden Lane New York, New York 10038 (c) Citizenship: Joseph Stevens & Company, Inc. is incorporated in the state of New York. Mr. Sorbara and Mr. Markowitz are United States citizens (d) Title of Class of Securities: Common Stock, $.001 par value per share (the "Common Stock"). (e) CUSIP Number: 048785 10 9 - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 6 of 10 Pages - -------------------------------- ----------------------- ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) /X/ Broker or Dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). See Item 4. (b) / / Bank as defined in section 3(a)(6) of the Exchange Act. (c) / / Insurance Company as defined in section 3(a)(19) of the Exchange Act (d) / / Investment Company registered under section 8 of the Investment Company Act. (e) / / Investment Advisor 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 ss.240.13d-1(b)(1)(ii)(F). (g) / / Parent Holding Company, in accordance with 240.13d-1(b)(ii)(G). (h) / / Group, in accordance with 240.13d-1(b)(1)(ii)(H). ITEM 4. Ownership. (a) Amount Beneficially Owned: As of December 31, 1997, Joseph Stevens & Company, Inc. owned warrants ("JSC Warrants") to purchase 165,000 units, each unit consisting of one share of Common Stock and one redeemable common stock purchase warrant ("Redeemable Warrants"). Each Redeemable Warrant entitled the holder to purchase an additional share of Common Stock. The JSC Warrants were exercisable commencing on December 14, 1996. Therefore as of December 31, 1997, Joseph Stevens & Company, Inc. beneficially owned 330,000 shares of Common Stock. Each of Messrs. Sorbara and Markowitz is a controlling shareholder, director and officer of Joseph Stevens & Company, Inc. Based upon the foregoing, as of December 31, 1997, each of Messrs. Sorbara and Markowitz individually beneficially owned 330,000 shares of Common Stock. (b) Percent of Class: As of December 31, 1997, each of Joseph Stevens & Company, Inc., Mr. Sorbara and Mr. Markowitz was the beneficial owner of an aggregate of 330,000 shares of Common Stock, which constituted approximately 9.9% of the 3,016,920 shares of Common Stock outstanding as of September 30, 1997 (as reported in the Company's Form 10-KQS for the quarter ended September 30, 1996). (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: 330,000 shares of Common Stock. See Item 4(a) above. (ii) Shared power to vote or direct the vote: 0 shares of Common Stock. See Item 4(a) above. (iii) Sole power to dispose or to direct the disposition of: 330,000 shares of Common Stock. See Item 4(a) above. - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 7 of 10 Pages - -------------------------------- ----------------------- (iv) Shared power to dispose or to direct the disposition of: 0 shares of Common Stock. See Item 4(a) above. ITEM 5. Ownership of Five Percent or Less of a Class. Not Applicable. ITEM 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. ITEMS 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. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 8 of 10 Pages - -------------------------------- ----------------------- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 23, 1998 ------------------------------ (Date) JOSEPH STEVENS & COMPANY, INC. /s/Joseph Sorbara ------------------------------ Joseph Sorbara Chief Executive Officer January 23, 1998 ------------------------------ (Date) /s/Joseph Sorbara ------------------------------ (Signature) Joseph Sorbara ------------------------------ (Name/Title) January 23, 1998 ------------------------------ (Date) /s/Steven Markowitz ------------------------------ (Signature) Steven Markowitz ------------------------------ (Name/Title) - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 9 of 10 Pages - -------------------------------- ----------------------- EXHIBIT INDEX
Sequentially Numbered Page Exhibit No. Title: on Which Exhibit Begins 1. Joint Filing Agreement pursuant to Rule 10 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended, among Joseph Stevens & Company, Inc., Mr. Joseph Sorbara and Mr. Steven Markowitz
NY1-208612.2 - -------------------------------- ----------------------- CUSIP No. 048785 10 9 13G Page 10 of 10 Pages - -------------------------------- ----------------------- EXHIBIT 1 Joint Filing Agreement pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended. Each of the undersigned hereby agrees to be included in the filing of the Schedule 13G dated January 23, 1998 with respect to the issued and outstanding Common Stock of Atlantic Pharmaceuticals, Inc. beneficially owned by each of the undersigned, respectively. Dated: January 23, 1998 JOSEPH STEVENS & COMPANY, INC. /s/Joseph Sorbara ------------------------------ Joseph Sorbara Chief Executive Officer /s/Joseph Sorbara ------------------------------ (Signature) /s/Steven Markowitz ------------------------------ (Signature) -----END PRIVACY-ENHANCED MESSAGE-----