-----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, R0JmGr0vyn4QupunCZeqWuah0N7P7qBXx1oh5fAtA4c+/s9TY6cm5jncy+nQJDgF 8Y6jeKEELsUDuBzB4PO02Q== 0000899140-07-001687.txt : 20071012 0000899140-07-001687.hdr.sgml : 20071012 20071012163743 ACCESSION NUMBER: 0000899140-07-001687 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20071012 DATE AS OF CHANGE: 20071012 GROUP MEMBERS: BEDFORD OAK ADVISORS, LLC GROUP MEMBERS: BEDFORD OAK CAPITAL, L.P. GROUP MEMBERS: HARVEY P. EISEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL HOLDINGS CORP CENTRAL INDEX KEY: 0001023844 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200] IRS NUMBER: 364128138 STATE OF INCORPORATION: DE FISCAL YEAR END: 0926 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-51125 FILM NUMBER: 071169962 BUSINESS ADDRESS: STREET 1: 1001 FOURTH AVENUE STREET 2: STE 2200 CITY: SEATTLE STATE: WA ZIP: 98154 BUSINESS PHONE: 3127518833 MAIL ADDRESS: STREET 1: 1001 FOURTH AVENUE STREET 2: STE 2200 CITY: SEATTLE STATE: WA ZIP: 98154 FORMER COMPANY: FORMER CONFORMED NAME: OLYMPIC CASCADE FINANCIAL CORP DATE OF NAME CHANGE: 19960927 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BEDFORD OAK PARTNERS LP CENTRAL INDEX KEY: 0001066753 IRS NUMBER: 061504646 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 100 SOUTH BEDFORD ROAD CITY: MT KISCO STATE: NY ZIP: 10549 BUSINESS PHONE: 9142425725 SC 13G/A 1 e101207.txt SECOND AMENDMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* National Holdings Corporation ----------------------------- (Name of Issuer) Common Stock, $0.02 Par Value ----------------------------- (Title of Class of Securities) 636375107 --------- (CUSIP Number) October 10, 2007 ---------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 9 Pages - -------------------------- ------------------ CUSIP No. 636375107 13G Page 2 of 9 Pages - -------------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Bedford Oak Partners, L.P. 06-1504646 - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 0 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 (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) 0.0% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ---------- --------------------------------------------------------------------- Page 2 of 9 Pages - -------------------------- ------------------ CUSIP No. 636375107 13G Page 3 of 9 Pages - -------------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Bedford Oak Capital, L.P. 13-4136960 - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 537,000 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 537,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 537,000 (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) 6.52% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ---------- --------------------------------------------------------------------- Page 3 of 9 Pages - -------------------------- ------------------ CUSIP No. 636375107 13G Page 4 of 9 Pages - -------------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Bedford Oak Advisors, LLC 13-4007124 - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 860,202 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 860,202 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 860,202 (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) 10.44% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - ---------- --------------------------------------------------------------------- Page 4 of 9 Pages - -------------------------- ------------------ CUSIP No. 636375107 13G Page 5 of 9 Pages - -------------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Harvey P. Eisen - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 860,202 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 860,202 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 860,202 (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) 10.44% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------- --------------------------------------------------------------------- Page 5 of 9 Pages Item 1(a) Name of Issuer: -------------- National Holdings Corporation ("the Company") Item 1(b) Address of Issuer's Principal Executive Offices: ----------------------------------------------- 875 North Michigan Avenue, Suite 1560 Chicago, Illinois 60611 Items 2(a) and 2(b) Name of Person Filing and Business Office: ----------------------------------------- This statement is filed by: (i) Bedford Oak Partners, L.P. ("BOP"); (ii) Bedford Oak Capital, L.P. ("Capital"); (iii) Bedford Oak Advisors, LLC ("Investment Manager") in its capacity as the investment manager of BOP, Capital and other private investment funds; and (iv) Harvey P. Eisen, in his capacity as managing member of the Investment Manager. The principal business address of each reporting person is 100 South Bedford Road, Mt. Kisco, New York 10549. BOP, Capital, the Investment Manager and Harvey P. Eisen have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended. Item 2(c) Citizenship: ----------- BOP is a Delaware limited partnership. Capital is a Delaware limited partnership. The Investment Manager is a Delaware limited liability company. Mr. Eisen is a United States citizen. Item 2(d) Title of Class of Securities: ---------------------------- Common Stock, $0.02 par value ("Common Stock") Item 2(e) CUSIP Number: ------------ 636375107 Item 3 Not Applicable. Item 4 Ownership: --------- The percentages used herein are calculated based upon 8,235,878 shares of Common Stock issued and outstanding as of July 31, Page 6 of 9 Pages 2007, as disclosed by the Company in its quarterly report filed on Form 10-Q for the period ended June 30, 2007. As of the close of business on October 10, 2007: 1. Bedford Oak Partners, L.P. (a) Amount beneficially owned: -0- (b) Percent of class: 0.0% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: -0- 2. Bedford Oak Capital, L.P. (a) Amount beneficially owned: -537,000- (b) Percent of class: 6.52% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: -537,000- (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: -537,000- 3. Bedford Oak Advisors, LLC (a) Amount beneficially owned: -860,202- (b) Percent of class: 10.44% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: -860,202- (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: -860,202- 4. Harvey P. Eisen (a) Amount beneficially owned: -860,202- (b) Percent of class: 10.44% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: -860,202- (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: -860,202- The Investment Manager controls 860,202 shares of Common Stock in its capacity as the investment manager of certain private investment funds including Capital, which itself directly owns 537,000 shares of Common Stock. Harvey P. Eisen controls 860,202 shares of Common Stock in his capacity as the managing member of the Investment Manager. Item 5 Ownership of Five Percent or Less of a Class: -------------------------------------------- [X] Bedford Oak Partners, L.P. [ ] Bedford Oak Capital, L.P. [ ] Bedford Oak Advisors, LLC [ ] Harvey P. Eisen Page 7 of 9 Pages 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: ------------- By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 8 of 9 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. Dated: October 12, 2007 BEDFORD OAK PARTNERS, L.P. By: Bedford Oak Management, LLC, its General Partner By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member BEDFORD OAK CAPITAL, L.P. By: Bedford Oak Management, LLC, its General Partner By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member BEDFORD OAK ADVISORS, LLC By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member HARVEY P. EISEN /s/ Harvey P. Eisen --------------------------------- /s/ Harvey P. Eisen EXHIBIT INDEX Exhibit 99.1: Joint Filing Agreement, dated October 12, 2007, by and among Bedford Oak Partners, L.P., Bedford Oak Capital, L.P., Bedford Oak Advisors, LLC and Harvey P. Eisen. EX-99.1 2 e101207a.txt JOINT FILING AGREEMENT Exhibit 99.1 JOINT FILING AGREEMENT The undersigned hereby agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: October 12, 2007 BEDFORD OAK PARTNERS, L.P. By: Bedford Oak Management, LLC, its General Partner By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member BEDFORD OAK CAPITAL, L.P. By: Bedford Oak Management, LLC, its General Partner By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member BEDFORD OAK ADVISORS, LLC By: /s/ Harvey P. Eisen ------------------------------- Name: Harvey P. Eisen Title: Chairman and Managing Member HARVEY P. EISEN /s/ Harvey P. Eisen --------------------------------- /s/ Harvey P. Eisen -----END PRIVACY-ENHANCED MESSAGE-----