-----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, M9O9kAWaloOAZ0ABmFwftuCs7Dc9/bINoGwgS8LLBMsoz3M+mjYDWgipWWuvUhc5 IJO7KqGA2DeX0+djIvaUXw== 0001068238-01-000048.txt : 20010223 0001068238-01-000048.hdr.sgml : 20010223 ACCESSION NUMBER: 0001068238-01-000048 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CTI INDUSTRIES CORP CENTRAL INDEX KEY: 0001042187 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 362848943 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-53657 FILM NUMBER: 1544516 BUSINESS ADDRESS: STREET 1: 22160 N PEPPER RD CITY: BARRINGTON STATE: IL ZIP: 60010 MAIL ADDRESS: STREET 1: 22160 N PEPPER RD CITY: BARRINGTON STATE: IL ZIP: 60010 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/A 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/A 1 0001.txt SCHEDULE 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 2)* CTI Industries Corporation - ------------------------------------------------------------------- (Name of Issuer) Common Stock - ------------------------------------------------------------------- (Title of Class of Securities) 125961 10 2 - ------------------------------------------------------------------- (CUSIP Number) December 31, 2000 - ------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed. |X| Rule13d-1(b) | | Rule13d-1(c) |_| Rule13d-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 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. 125961 10 2 13G/A Page 2 of 11 Pages - ---------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 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 NUMBER OF 50,000 shares of Common Stock. See Item 4. SHARES BENEFICIALLY 6 SHARED VOTING POWER N/A OWNED BY 7 SOLE DISPOSITIVE POWER EACH 50,000 shares of Common Stock. See Item 4. REPORTING PERSON WITH 8 SHARED DISPOSITIVE POWER N/A 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,000 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 5.6% of shares of Common Stock. See Item 4. - ---------------------------------------------------------------------- - ---------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* BD - ---------------------------------------------------------------------- CUSIP NO. 125961 10 2 13G/A Page 3 of 11 Pages - ---------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 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 NUMBER OF 50,000 shares of Common Stock. See Item 4. SHARES BENEFICIALLY 6 SHARED VOTING POWER N/A OWNED BY 7 SOLE DISPOSITIVE POWER EACH 50,000 shares of Common Stock. See Item 4. REPORTING PERSON WITH 8 SHARED DISPOSITIVE POWER N/A 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,000 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 5.6% of shares of Common Stock. See Item 4. - ---------------------------------------------------------------------- - ---------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------------- CUSIP NO. 125961 10 2 13G/A Page 4 of 11 Pages - ---------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 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 NUMBER OF 52,332 shares of Common Stock. See Item 4. SHARES BENEFICIALLY 6 SHARED VOTING POWER N/A OWNED BY 7 SOLE DISPOSITIVE POWER EACH 52,332 shares of Common Stock. See Item 4. REPORTING PERSON WITH 8 SHARED DISPOSITIVE POWER N/A 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,332 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 5.9% of shares of Common Stock. See Item 4. - ---------------------------------------------------------------------- - ---------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------------- CUSIP NO. 125961 10 2 13G/A Page 5 of 11 Pages ITEM 1(A). NAME OF ISSUER: CTI Industries Corporation ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 22160 North Pepper Road Barrington, Illinois 60010 ITEM 2(A). NAME OF PERSONS FILING: Joseph Stevens and Company, Inc. (successor to Joseph Stevens & Company, L.P.) Mr. Joseph Sorbara and Mr. Steven Markowitz ITEM 2(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 ITEM 2(C). CITIZENSHIP: Joseph Stevens & Company, Inc. is incorporated in the state of New York. Mr. Sorbara and Mr. Markowitz are United States citizens. ITEM 2(D). TITLE OF CLASS OF SECURITIES: Common Stock, $.195 par value per share (the "Common Stock"). ITEM 2(E). CUSIP NUMBER: 125961 10 2 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 Exchange Act. (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) |_| An investment advisor in accordance with Rule 13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); CUSIP NO. 125961 10 2 13G/A Page 6 of 11 Pages (g) |_| A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14)of the Investment Company Act; (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J). ITEM 4. OWNERSHIP. (a) Amount Beneficially Owned: As of December 31, 2000, Joseph Stevens & Company, Inc. owned warrants ("JSC Warrants") to purchase 50,000 shares of Common Stock. The JSC Warrants were exercisable commencing on October 28, 1998. Therefore, as of December 31, 2000, Joseph Stevens & Company, Inc. beneficially owned 50,000 shares of Common Stock within the meaning of Rule 13d-3 of the Act. Mr. Joseph Sorbara was a controlling shareholder, director and officer of Joseph Stevens & Company, Inc. as of December 31, 2000. Based upon the foregoing, as of December 31, 2000, Mr. Sorbara beneficially owned 50,000 shares of Common Stock within the meaning of Rule 13d-3 of the Act. As of December 31, 2000, Mr. Steven Markowitz as custodian for his minor children owned 1,099 shares of Common Stock. Mr. Markowitz owned 1,233 shares of Common Stock in an individual retirement account as of December 31, 2000. Mr. Markowitz was a controlling shareholder, director and officer of Joseph Stevens & Company, Inc. as of December 31, 2000. Based upon the foregoing, as of December 31, 1999, Mr. Markowitz beneficially owned 52,332 shares of Common Stock within the meaning of Rule 13d-3 of the Act. (b) Percent of Class: As of December 31, 2000, Joseph Stevens & Company, Inc., was the beneficial owner of an aggregate of 50,000 shares of Common Stock, which constituted approximately 5.6% of the shares of Common Stock outstanding (based upon 841,644 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended July 31, 2000). As of December 31, 2000, Mr. Joseph Sorbara was the beneficial owner of an aggregate of 50,000 shares of Common Stock, which constituted approximately 5.6% of the shares of Common Stock outstanding (based upon 841,644 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended July 31, 2000). As of December 31, 2000, Mr. Steven Markowitz was the beneficial owner of an aggregate of 52,332 shares of Common Stock, which constituted approximately 5.9% of the shares of Common Stock outstanding (based upon 841,644 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended July 31, 2000). CUSIP NO. 125961 10 2 13G/A Page 7 of 11 Pages (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: As of December 31, 2000, Joseph Stevens & Company, Inc. had sole power to vote or direct the vote of 50,000 shares of Common Stock. See Item 4(a) above. As of December 31, 2000, Joseph Sorbara had sole power to vote or direct the vote of 50,000 shares of Common Stock. See Item 4(a) above. As of December 31, 2000, Steven Markowitz had sole power to vote or direct the vote of 52,332 shares of Common Stock. See Item 4(a) above. (ii) Shared power to vote or direct the vote: Not applicable. (iii)Sole power to dispose or to direct the disposition of: As of December 31, 2000, Joseph Stevens & Company, Inc. had sole power to dispose or to direct the disposition of 50,000 shares of Common Stock. See Item 4(a) above. As of December 31, 2000, Joseph Sorbara had sole power to dispose or to direct the disposition of 50,000 shares of Common Stock. See Item 4(a) above. As of December 31, 2000, Steven Markowitz had sole power to dispose or to direct the disposition of 52,332 shares of Common Stock. See Item 4(a) above. (iv) Shared power to dispose or to direct the disposition of: Not applicable. 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. 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. CUSIP NO. 125961 10 2 13G/A Page 8 of 11 Pages ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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. CUSIP NO. 125961 10 2 13G/A Page 9 of 11 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. February 14, 2001 ------------------------------ (Date) JOSEPH STEVENS & COMPANY, INC. /s/ Joseph Sorbara ------------------------------- Joseph Sorbara Chief Executive Officer February 14, 2001 ------------------------------ (Date) /s/ Joseph Sorbara ------------------------------- (Signature) Joseph Sorbara ------------------------------- (Name) February 14, 2001 ------------------------------ (Date) /s/ Steven Markowitz ------------------------------- (Signature) Steven Markowitz ------------------------------- (Name) CUSIP NO. 125961 10 2 13G/A Page 10 of 11 Pages EXHIBIT INDEX EXHIBIT NO. TITLE: SEQUENTIALLY NUMBERED PAGE ON WHICH EXHIBIT BEGINS 1. Joint Filing Agreement pursuant 11 to Rule 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 CUSIP NO. 125961 10 2 13G/A Page 11 of 11 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 February 14, 2001 with respect to the issued and outstanding Common Stock of CTI Industries Corporation beneficially owned by each of the undersigned, respectively. Dated: February 14, 2001 Joseph Stevens & Company, Inc. /s/ Joseph Sorbara ----------------------------- Joseph Sorbara Chief Executive Officer /s/ Joseph Sorbara ----------------------------- Joseph Sorbara /s/ Steven Markowitz ---------------------------- Steven Markowitz -----END PRIVACY-ENHANCED MESSAGE-----