-----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, FchQDRJqNBXw4qRROxr2xhr2Dk06RyabOIT9xztN8leVsRxbkQrnRiBlXFbaoZqO a2grsa+LJY28saa742jF5Q== 0001144204-03-008238.txt : 20031208 0001144204-03-008238.hdr.sgml : 20031208 20031208142019 ACCESSION NUMBER: 0001144204-03-008238 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20031208 GROUP MEMBERS: MARK ANGELO GROUP MEMBERS: YORKVILLE ADVISORS, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED VIRAL RESEARCH CORP CENTRAL INDEX KEY: 0000786623 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 592646820 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-79380 FILM NUMBER: 031042263 BUSINESS ADDRESS: STREET 1: 200 CORPORATE BOULEVARD SOUTH STREET 2: . CITY: YONKERS STATE: NY ZIP: 10107 BUSINESS PHONE: 9143767383 MAIL ADDRESS: STREET 1: 200 CORPORATE BOULEVARD SOUTH STREET 2: . CITY: YONKERS STATE: NY ZIP: 10107 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CORNELL CAPITAL PARTNERS LP CENTRAL INDEX KEY: 0001132874 IRS NUMBER: 134150836 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O MCGUIRE WOODS LLP STREET 2: 9 WEST 57TH STREET SUITE 1620 CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125482100 MAIL ADDRESS: STREET 1: 101 HUDSON STREET STREET 2: SUITE 3606 CITY: JERSEY CITY STATE: NJ ZIP: 07302 SC 13D 1 schedule13d.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 - -------------------------------------------------------------------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 ADVANCED VIRAL RESEARCH CORP. (Name of Issuer) Common Stock (Title of Class of Securities) (CUSIP Number) Mark Angelo Cornell Capital Partners, LP 101 Hudson Street, Suite 3606 Jersey City, New Jersey 07302 (201) 985-8300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy To: David Gonzalez, Esq. Butler Gonzalez LLP 1000 Stuyvesant Avenue - Suite 6 Union, NJ 07083 (908) 810-8588 November 20, 2003 - -------------------------------------------------------------------------------- (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(b)(3) or (4), check the following box [ ]. SCHEDULE 13D - ----------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Cornell Capital Partners LP - ----------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ----------------------- ----------------------------------------------------------------------------------------------------------- 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 Delaware - ----------------------- ----------------------------------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 WITH ------- --------------------------------------------------------------------------------------------- 8 SHARED VOTING POWER ------- --------------------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 36,025,943 ------- --------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - ----------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 - ----------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( ) - ----------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7% - ----------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ----------------------- -----------------------------------------------------------------------------------------------------------
2
- ----------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Yorkville Advisors, LLC - ----------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ----------------------- ----------------------------------------------------------------------------------------------------------- 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 Delaware - ----------------------- ----------------------------------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 (as General Partner of Cornell Capital Partners, LP) WITH ------- ----- --------------------------------------------------------------------------------------------- 8 SHARED VOTING POWER -0- ------- ----- --------------------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 36,025,943 (as General Partner of Cornell Capital Partners, LP) ------- ----- --------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ----------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 (as General Partner of Cornell Capital Partners, LP) - ----------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( ) - ----------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7% - ----------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ----------------------- -----------------------------------------------------------------------------------------------------------
3 - ----------------------- ----------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS Mark Angelo - ----------------------- ----------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ----------------------- ----------------------------------------------------------------------------------------------------------- 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 United States - ----------------------- ----------------------------------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 (as Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville WITH Advisors, LLC) ------- ----- --------------------------------------------------------------------------------------------- 8 SHARED VOTING POWER -0- ------- ----- --------------------------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 36,025,943 (as Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville Advisors, LLC) ------- ----- --------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ----------------------- ----------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 36,025,943 (as Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville Advisors, LLC) - ----------------------- ----------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ( ) - ----------------------- ----------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7% - ----------------------- ----------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ----------------------- -----------------------------------------------------------------------------------------------------------
4 Item 1. Security and Issuer. This statement relates to shares of common stock, par value $0.00001 per share (the "Shares"), of Advanced Viral Research Corp., a Delaware corporation (the "Issuer"). The principal executive office of the Issuer is located at 200 Corporate Boulevard South, Yonkers, New York 10701. Item 2. Identity and Background. (a)-(c), (f). This statement is being filed by Cornell Capital Partners, LP ("Cornell"), Yorkville Advisors, LLC ("Yorkville") and Mark Angelo ("Angelo") (Cornell, Yorkville and Angelo collectively, the "Reporting Persons"). Cornell, a Delaware limited partnership, whose business address is 101 Hudson Street, Suite 3606, Jersey City, New Jersey 07302, is a private equity fund. Yorkville, a Delaware LLC, whose business address is 101 Hudson Street, Suite 3606, Jersey City, New Jersey 07302 is the General Partner of Cornell. Angelo, whose business address is 101 Hudson Street, Suite 3606, Jersey City, New Jersey 07302 is the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville. Angelo is a citizen of the United States. (d) and (e). During the last five years, no Reporting Person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction in which the Reporting Person was or is the subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The Shares were acquired pursuant to Cornell's exercise of its conversion rights under that certain convertible debenture purchased by Cornell from Issuer on April 28, 2003 for $2,500,000. Item 4. Purpose of Transaction. Cornell acquired the Shares for investment and not with a view to, or for resale in connection with, any distribution thereof, and the Reporting Persons do not have a present intention of selling, granting any participation in, or otherwise distributing the acquired Shares. The Reporting Persons have no present plans or intentions which would result in or relate to any transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. 5 Item 5. Interest in Securities of the Issuer. (a)-(b) As of November 20, 2003, Cornell was the record and beneficial owner 36,025,943 Shares representing 7% of the issued and outstanding Shares. Yorkville, as the General Partner of Cornell, may be deemed to have a beneficial ownership in the aforementioned Shares. Angelo as the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville may be deemed to have a beneficial ownership in the aforementioned Shares. Cornell has the sole power to vote and to dispose of all of its Shares. Yorkville, as the General Partner of Cornell, has the sole power to direct the vote and/or to direct the disposition of the Shares directly owned by Cornell. Angelo, as the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville, has the sole power to direct the vote and/or to direct the disposition of the Shares directly owned by Cornell. (c) Except as follows, none of the Reporting Persons has effected, within the last 60 days, any transactions involving the Shares. Within the last 60 days, Cornell has effected the following transactions involving the Shares: On September 20, 2003, acquired 14,150,943 Shares at a price per share of $0.0424. On November 6, 2003, acquired 12,500,000 Shares at a price per share of $0.048. On November 20, 2003, acquired 9,375,000 Shares at a price per share of $0.064. (d) Not applicable. (e) Not applicable. Item 6. Contract, Arrangements, Understandings or Relationships with respect to Securities of the Issuer. Cornell and the Issuer are parties to the following agreements, dated April 28, 2003, relating to the Shares: Securities Purchase Agreement, Registration Rights Agreement, Equity Line of Credit Agreement and Placement Agent Agreement. Except as set forth herein, none of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Company, including, without limitation, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits and losses or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. Exhibit 1 Joint Filing Agreement. 6 SIGNATURE After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each certifies that the information set forth in this statement is true, complete and correct. Dated: November 26, 2003 REPORTING PERSONS: ----------------- CORNELL CAPITAL PARTNERS, LP By: Yorkville Advisors, LLC Its: General Partner By: /s/ Mark Angelo ----------------------------------- Name: Mark Angelo Its: Portfolio Manager YORKVILLE ADVISORS, LLC By: /s/ Mark Angelo ----------------------------------- Name: Mark Angelo Its: Portfolio Manager /s/ Mark Angelo --------------------------------------- MARK ANGELO 7 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the common stock, par value $0.00001 per share, of Advanced Viral Research Corp., a Delaware corporation, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October REPORTING PERSONS: ------------------ CORNELL CAPITAL PARTNERS, LP By: Yorkville Advisors, LLC Its: General Partner By: /s/ Mark Angelo ----------------------------------- Name: Mark Angelo Its: Portfolio Manager YORKVILLE ADVISORS, LLC By: /s/ Mark Angelo ----------------------------------- Name: Mark Angelo Its: Portfolio Manager /s/ Mark Angelo --------------------------------------- MARK ANGELO -----END PRIVACY-ENHANCED MESSAGE-----