-----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, G/1cP2wgLPuD/c7jPcckmu3jTg/jSicsbzybRiPrYXAQASzbIeHylK1D4VrbSZcb De7ctfczqUIcqTSSrtp4jg== 0001144204-03-000098.txt : 20030114 0001144204-03-000098.hdr.sgml : 20030114 20030110151450 ACCESSION NUMBER: 0001144204-03-000098 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030110 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FREEDMAN HARRIS CENTRAL INDEX KEY: 0001008162 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1241 GULF OF MEXICO DRIVE CITY: LONGBOAT KEY STATE: FL ZIP: 34228 MAIL ADDRESS: STREET 1: 1241 GULF OF MEXICO DR CITY: LONGBOAT KEY STATE: FL ZIP: 34228 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ELITE PHARMACEUTICALS INC /DE/ CENTRAL INDEX KEY: 0001053369 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 223542636 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59693 FILM NUMBER: 03510608 BUSINESS ADDRESS: STREET 1: 165 LUDLOW AVENUE CITY: NORTHVALE STATE: NJ ZIP: 07647 BUSINESS PHONE: 2017502646 MAIL ADDRESS: STREET 1: 165 LUDLOW AVENUE CITY: NORTHVALE STATE: NJ ZIP: 07647 SC 13D/A 1 doc1.txt CUSIP No. 28659T200 13D Page 1 of 9 Pages SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) 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. 5) ELITE PHARMACEUTICALS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 28659T200 - -------------------------------------------------------------------------------- (CUSIP Number) MICHAEL H. FREEDMAN, ESQ. LAW OFFICES OF MICHAEL H. FREEDMAN, PLLC 200 EAST 89TH STREET, SUITE 17A New York, New York 10128 (212) 426-7499 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 24, 2002 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of 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-1(g), check the following box: |_|. (Continued on following pages) (Page 1 of 9 Pages) CUSIP No. 28659T200 13D Page 2 of 9 Pages - ------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) BRIDGE VENTURES - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |x| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) SOURCE OF FUNDS* WC, OO - ------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION FLORIDA - ------------------------------------------------------------------------------- NUMBER OF 7) SOLE VOTING POWER SHARES 269,720 (1) -------------------------------------------------- BENEFICIALLY 8) SHARED VOTING POWER OWNED BY -0- --------------------------------------------------- EACH REPORTING 9) SOLE DISPOSITIVE POWER PERSON WITH 269,720 (1) --------------------------------------------------- 10) SHARED DISPOSITIVE POWER -0- - ------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 269,720 (1) - ------------------------------------------------------------------------------- 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.6% - ------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Consists of (a) 244,720 shares of Common Stock and (b) 25,000 shares of Common Stock issuable upon the exercise of warrants. CUSIP No. 28659T200 13D Page 3 of 9 Pages - ------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) SMACS HOLDING CORP. - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |x| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) SOURCE OF FUNDS* WC - ------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION FLORIDA - ------------------------------------------------------------------------------- NUMBER OF 7) SOLE VOTING POWER SHARES 121,000 (1) -------------------------------------------------- BENEFICIALLY 8) SHARED VOTING POWER OWNED BY -0- --------------------------------------------------- EACH REPORTING 9) SOLE DISPOSITIVE POWER PERSON WITH 121,000 (1) --------------------------------------------------- 10) SHARED DISPOSITIVE POWER -0- - ------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 121,000 (1) - ------------------------------------------------------------------------------- 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.1% - ------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Consists of (a) 46,000 shares of Common Stock and (b) 75,000 shares of Common Stock issuable upon the exercise of warrants. CUSIP No. 28659T200 13D Page 4 of 9 Pages - ------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) BRIDGE VENTURES, INC. EMPLOYEE PENSION PLAN - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |x| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) SOURCE OF FUNDS* OO - ------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION FLORIDA - ------------------------------------------------------------------------------- NUMBER OF 7) SOLE VOTING POWER SHARES 62,200 (1) -------------------------------------------------- BENEFICIALLY 8) SHARED VOTING POWER OWNED BY -0- --------------------------------------------------- EACH REPORTING 9) SOLE DISPOSITIVE POWER PERSON WITH 62,200 (1) --------------------------------------------------- 10) SHARED DISPOSITIVE POWER -0- - ------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 62,200 (1) - ------------------------------------------------------------------------------- 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .6% - ------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON EP - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Consists of (a) 52,200 shares of Common Stock and (b) 10,000 shares of Common Stock issuable upon the exercise of warrants. CUSIP No. 28659T200 13D Page 5 of 9 Pages - ------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) HARRIS FREEDMAN - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |x| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) SOURCE OF FUNDS* OO - ------------------------------------------------------------------------------- 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - ------------------------------------------------------------------------------- 6) CITIZENSHIP OR PLACE OF ORGANIZATION USA - ------------------------------------------------------------------------------- NUMBER OF 7) SOLE VOTING POWER SHARES 392,720 (1) -------------------------------------------------- BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 62,200 (2) --------------------------------------------------- EACH REPORTING 9) SOLE DISPOSITIVE POWER PERSON WITH 392,720 (1) --------------------------------------------------- 10) SHARED DISPOSITIVE POWER 62,200 (2) - ------------------------------------------------------------------------------- 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 454,920(1)(2) - ------------------------------------------------------------------------------- 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ------------------------------------------------------------------------------- 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.3% - ------------------------------------------------------------------------------- 14) TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Consists of (a) 2,000 shares of Common Stock, (b) 269,720 shares of Common Stock owned by Bridge Ventures, Inc. (including 25,000 shares of Common Stock issuable upon exercise of warrants owned by Bridge Ventures, Inc.) and (c) 121,000 shares of Common Stock owned by SMACS Holding Corp. (including 75,000 shares of Common Stock issuable upon exercise of warrants owned by SMACS Holding Corp.). (2) Consists of 62,200 shares of Common Stock owned by Bridge Ventures, Inc. Employee Pension Plan (including 10,000 shares of Common Stock issuable upon exercise of warrants owned by Bridge Ventures, Inc. Employee Pension Plan). CUSIP No. 28659T200 13D Page 6 of 9 Pages - ------------------------------------------------------------------------------- The following constitutes Amendment No. 5 ("Amendment No. 5") to the Schedule 13D filed by the undersigned. This Amendment No. 5 amends and restates the Schedule 13D as specifically set forth below. ITEM 2. IDENTITY AND BACKGROUND is hereby amended as follows: ------------------------- (a) This Statement is filed on behalf of Harris Freedman, Bridge Ventures, Inc., a Florida corporation ("Bridge"), SMACS Holding Corp., a Florida corporation ("SMACS"), and Bridge Ventures, Inc. Employee Pension Plan ("Bridge Pension Plan"). Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons." (b)-(c) The principal business/occupation of Harris Freedman, Bridge, and SMACS is private equity financing. Harris Freedman is the Secretary and a Director of each of Bridge and SMACS. Annelies Freedman, Harris Freedman's spouse, who is not actively employed, is the President and a Director of each of Bridge and SMACS. Harris Freedman and Annelies Freedman are the sole executive officers and directors of each of Bridge and SMACS. By virtue of his positions with Bridge and SMACS, Harris Freedman has the sole power to vote and dispose of the Issuer's Shares owned by each of Bridge and SMACS. The principal business address of Harris Freedman, Annelies Freedman, Bridge, and SMACS, is 1241 Gulf of Mexico Drive, Sarasota, FL 34228. Bridge Pension Plan is an employee benefit plan for the benefit of Harris Freedman. Harris Freedman and Annelies Freedman are the Trustees of Bridge Pension Plan. By virtue of his position with Bridge Pension Plan, Harris Freedman has the sole power to vote and dispose of the Issuer's Shares owned by Bridge Pension Plan. The principal business address of Bridge Pension Plan is 1241 Gulf of Mexico Drive, Sarasota, FL 34228. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER is hereby amended to add the ----------------------------------------- following: (a)-(b) The aggregate percentage of Shares of Common Stock reported owned by each person named in Item 2(b)-(c) is based upon 10,494,427 Shares outstanding, which is the total number of Shares of Common Stock outstanding as of November 1, 2002, as reported in the Issuer's Proxy Statement dated November 13, 2002. As of the close of business on January 8, 2003, Bridge Ventures, Inc. beneficially owned 269,720 Shares of Common Stock, including 25,000 Shares issuable upon exercise of warrants, constituting approximately 2.6% of the Shares outstanding. SMACS beneficially owned 121,000 Shares of Common Stock, including 75,000 Shares issuable upon exercise of warrants, constituting approximately 1.1% of the Shares outstanding. Harris Freedman beneficially owned 2,000 Shares of Common Stock constituting less than .1% of the Shares outstanding. Bridge Pension Plan beneficially owned 62,200 Shares of Common Stock, including 10,000 Shares issuable upon exercise of warrants, constituting approximately .6% of the Shares outstanding. Harris Freedman may be deemed to beneficially own the 454,920 Shares owned directly by Bridge, SMACS and Bridge Pension Plan by virtue of his direct authority to vote and dispose of such Shares. As of December 24, 2002, Harris Freedman ceased to be the beneficial owner of more than 5% of the Issuer's securities. CUSIP No. 28659T200 13D Page 7 of 9 Pages - ------------------------------------------------------------------------------- SIGNATURES ---------- After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 8, 2003 /S/Harris Freedman -------------------- HARRIS FREEDMAN
CUSIP No. 28659T200 13D Page 8 of 9 Pages - ------------------------------------------------------------------------------- EXHIBIT INDEX -------------- EXHIBIT PAGE - ------- ------ 1. Joint Filing Agreement dated August 5, 2002 (previously filed). 2. Letter from Harris Freedman to Elite Pharmaceuticals, Inc. dated August 5, 2002 (previously filed). 3. Letter from Harris Freedman to Elite Pharmaceuticals, Inc. dated August 29, 2002 (previously filed). 4. Settlement Agreement dated October 23, 2002, by and among Elite Pharmaceuticals, Inc., Harris Freedman, Sharon Will, Michael H. Freedman, Bridge Ventures, Inc., Bridge Ventures, Inc. Employee Pension Plan, SMACS Holding Corp., Saggi Capital Corp., Saggi Capital Corp. Money Purchase Plan, and Saggi Capital Corp. Profit Sharing Plan (previously filed).
CUSIP No. 28659T200 13D Page 9 of 9 Pages - ------------------------------------------------------------------------------- SCHEDULE A TRANSACTIONS IN THE SHARES DURING THE PAST 60 DAYS -------------------------------------------------- SHARES OF COMMON PRICE PER DATE OF STOCK PURCHASED/(SOLD) SHARE($) PURCHASE/(SALE) - ---------------------- ------------- ------------------ BRIDGE VENTURES, INC. ---------------------- (5,000 Warrants) .65 (10/23/02) (25,000 Warrants) .65 (10/25/02) (50,000 Warrants) .45 (11/4/02) (10,000 Warrants) .60 (11/6/02) (8,000 Warrants) .65 (11/6/02) (80,000 Warrants) .15 (11/26/02) (40,000 Shares) 2.00 (12/24/02) BRIDGE VENTURES, INC. EMPLOYEE PENSION PLAN --------------------- (40,000 Shares) 2.00 (12/24/02) -----END PRIVACY-ENHANCED MESSAGE-----