-----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, QQOJVV/CXlveD2gJyPxSt32/XtqvXQTij1dnMYqaNErU0WMa/YMeXIxVfdsLnrGe 8W/oUIdH25gVuvAaiUuiKw== 0000891554-99-001292.txt : 19990624 0000891554-99-001292.hdr.sgml : 19990624 ACCESSION NUMBER: 0000891554-99-001292 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990623 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ONLINE RESOURCES & COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000888953 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 521623052 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-56437 FILM NUMBER: 99650654 BUSINESS ADDRESS: STREET 1: 7600 COLSHIRE DRIVE CITY: MCLEAN STATE: VA ZIP: 22102 BUSINESS PHONE: 7033945100 MAIL ADDRESS: STREET 1: 7600 COLSHIRE DRIVE CITY: MCLEAN STATE: VA ZIP: 22102 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: 21ST CENTURY COMMUNICATIONS PARTNERS L P CENTRAL INDEX KEY: 0000930868 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 45TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2127548100 SC 13D 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 S C H E D U L E 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. )(1) ONLINE RESOURCES & COMMUNICATIONS CORPORATION (Name of Issuer) COMMON STOCK, $0.0001 PAR VALUE (Title of Class of Securities) 68273G101 (CUSIP Number) Copy to: 21st Century Communications Michael R. Reiner, Esq. Partners, L.P. Morrison Cohen Singer & Weinstein, LLP 767 Fifth Avenue 750 Lexington Avenue New York, New York 10153 New York, New York 10022 Telephone (212) 754-8100 Telephone (212) 735-8600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 4, 1999 (Date of Event which Requires Filing this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following page(s)) - ------------ (1) 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 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 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). - 1 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Applewood Associates, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 306,940 shares 2.8% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 0 shares 0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 306,940 shares 2.8% Person _________________________________________________________________ 10 Shared Dispositive Power With 0 shares 0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 306,940 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 2.8% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 2 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Applewood Capital Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 306,940 shares 2.8% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 306,940 shares 2.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 306,940 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 2.8% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 3 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Irwin Lieber ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC Use Only ________________________________________________________________________________ 4 Source of Funds* PF, 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 ________________________________________________________________________________ 7 Sole Voting Power Number of 11,880 shares 0.1% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 1,208,926 shares 10.6% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 11,880 shares 0.1% Person _________________________________________________________________ 10 Shared Dispositive Power With 1,208,926 shares 10.6% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 1,220,806 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 10.7% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 4 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Barry Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 1,220,806 shares 10.7% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 1,220,806 shares 10.7% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 1,220,806 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 10.7% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 5 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Barry Fingerhut ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC Use Only ________________________________________________________________________________ 4 Source of Funds* PF, 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 ________________________________________________________________________________ 7 Sole Voting Power Number of 34,452 shares 0.3% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 1,208,926 shares 10.6% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 34,452 shares 0.3% Person _________________________________________________________________ 10 Shared Dispositive Power With 1,208,926 shares 10.6% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 1,243,378 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 10.8% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 6 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Seth Lieber ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 306,940 shares 2.8% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 306,940 shares 2.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 306,940 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 2.8% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 7 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Jonathan Lieber ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 306,940 shares 2.8% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 306,940 shares 2.8% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 306,940 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 2.8% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 8 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) 21st Century Communications Partners, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 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 Delaware ________________________________________________________________________________ 7 Sole Voting Power Number of 611,719 shares 5.5% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 290,267 shares 2.6% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 611,719 shares 5.5% Person _________________________________________________________________ 10 Shared Dispositive Power With 290,267 shares 2.6% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 9 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) 21st Century Communications T-E Partners, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 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 Delaware ________________________________________________________________________________ 7 Sole Voting Power Number of 208,124 shares 1.9% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 693,862 shares 6.2% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 208,124 shares 1.9% Person _________________________________________________________________ 10 Shared Dispositive Power With 693,862 shares 6.2% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 10 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) 21st Century Communications Foreign Partners, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 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 Delaware ________________________________________________________________________________ 7 Sole Voting Power Number of 82,143 shares 0.8% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 819,843 shares 7.3% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 82,143 shares 0.8% Person _________________________________________________________________ 10 Shared Dispositive Power With 819,843 shares 7.3% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 11 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Sandler Investment Partners, L.P. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 12 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Sandler Capital Management ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 13 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) ARH Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 14 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) ALCR Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 15 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) MJDM Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 16 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Four JK Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 17 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) SERF Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 18 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) TERPSI Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 19 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) JIRAKAL Corp. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 20 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Infomedia Associates, Ltd. ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 21 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Harvey Sandler ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 22 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Andrew Sandler ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 23 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Michael J. Marocco ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 24 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) John Kornreich ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 25 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Douglas Schimmel ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 26 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Hannah Stone ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 27 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) David Lee ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 901,986 shares 8.0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 901,986 shares 8.0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 901,986 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 8.0% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 28 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Woodland Partners ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] ________________________________________________________________________________ 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 New York ________________________________________________________________________________ 7 Sole Voting Power Number of 11,880 shares 0.1% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 0 shares 0% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 11,880 shares 0.1% Person _________________________________________________________________ 10 Shared Dispositive Power With 0 shares 0% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 11,880 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 0.1% ________________________________________________________________________________ 14 Type of Reporting Person* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 29 of 52 - CUSIP No. 13D No. 68273G101 ________________________________________________________________________________ 1 Name of Reporting Persons I.R.S. Identification Nos. of Above Persons (Entities Only) Marilyn Rubenstein ________________________________________________________________________________ 2 Check the Appropriate Box if a Member of a Group* (a) [_] (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 ________________________________________________________________________________ 7 Sole Voting Power Number of 0 shares 0% Shares _________________________________________________________________ 8 Shared Voting Power Beneficially 11,880 shares 0.1% Owned By _________________________________________________________________ Each 9 Sole Dispositive Power Reporting 0 shares 0% Person _________________________________________________________________ 10 Shared Dispositive Power With 11,880 shares 0.1% ________________________________________________________________________________ 11 Aggregate Amount Beneficially Owned By Each Reporting Person 11,880 shares ________________________________________________________________________________ 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] ________________________________________________________________________________ 13 Percent of Class Represented by Amount in Row (11) 0.1% ________________________________________________________________________________ 14 Type of Reporting Person* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 30 of 52 - This statement, dated June 4, 1999, relates to the reporting persons' ownership of the common stock of OnLine Resources & Communications Corporation (the "Issuer"). All references to shares of common stock reflects a 1 for 2.81 reverse stock split of the common stock which was effective as of May 2, 1999. ITEM 1. SECURITY AND ISSUER (a) Common Stock, $0.0001 par value per share ("Common Stock"), (CUSIP No. 6827G101). (b) 1996 warrants (the "1996 Warrants"), expiring April 30, 2003, entitling the holder to purchase one share of Common Stock at $7.01 per share. (c) Series C warrants (the "Series C Warrants"), expiring June 1, 2002, entitling the holder to purchase one share of Common Stock at $8.42 per share. (d) OnLine Resources & Communications Corporation 7600 Colshire Drive McLean, Virginia 22102 (703) 394-5100 ITEM 2. IDENTITY AND BACKGROUND 1. (a) Applewood Associates, L.P., a limited partnership organized under the laws of the State of New York ("Applewood Associates"). (b) Address: c/o Applewood Capital Corp. 68 Wheatley Road Brookville, New York 11545 (c) Principal Business: Investments. (d) No. (e) No. 2. (a) Applewood Capital Corp., a corporation organized under the laws of the State of New York ("Applewood Capital"). (b) Address: c/o Barry Rubenstein 68 Wheatley Road Brookville, New York 11545 (c) Principal Business: Investments. (d) No. (e) No. Applewood Capital is a general partner of Applewood Associates. 3. (a) Barry Rubenstein, a general partner of Applewood Associates, an officer and director of Applewood Capital, a shareholder, officer and director of Infomedia Associates, Ltd. ("Infomedia"), a general partner of the 21st - 31 of 52 - Century Communications Partners, L.P. ("21st Century"), 21st Century Communications T-E Partners, L.P. ("T-E"), and 21st Century Communications Foreign Partners, L.P. ("Foreign"), and a general partner of Woodland Partners. (b) Address: 68 Wheatley Road Brookville, New York 11545 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States Barry Rubenstein is the husband of Marilyn Rubenstein. 4. (a) Irwin Lieber, a general partner of Applewood Associates, an officer and director of Applewood Capital, and a shareholder, officer and director of Infomedia, a general partner of the 21st Century, T-E and Foreign. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States Irwin Lieber is the father of Seth Lieber and Jonathan Lieber. 5. (a) Barry Fingerhut, a director of the Issuer, a general partner of Applewood Associates, an officer and director of Applewood Capital, and a shareholder, officer and director of Infomedia, a general partner of the 21st Century, T-E and Foreign. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. 6. (a) Seth Lieber, a general partner of Applewood Associates and an officer of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. - 32 of 52 - 7. (a) Jonathan Lieber, a general partner of Applewood Associates and an officer of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. 8. (a) 21st Century Communications Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 9. (a) 21st Century Communications T-E Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 10. (a) 21st Century Communications Foreign Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: One Capitol Plaza, 3rd Floor Shedden Road George Town, Grand Cayman Island British West Indies (c) Principal Business: Investments. (d) No. (e) No. 11. (a) Sandler Investment Partners, L.P., a limited partnership organized under the laws of the State of New York ("SIP"). (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 12. (a) Sandler Capital Management, a registered investment advisor and a general partnership organized under the laws of the State of New York ("SCM"). - 33 of 52 - (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 13. (a) ARH Corp., a Delaware corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 14. (a) ALCR Corp., a New York corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 15. (a) MJDM Corp., a New York corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 16. (a) Four JK Corp., a Delaware corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 17. (a) SERF Corp., a New York corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 18. (a) TERPSI Corp., a New York corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. - 34 of 52 - 19. (a) JIRAKAL Corp., a New York corporation. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Business: Investments. (d) No. (e) No. 20. (a) Infomedia Associates, Ltd., a New York corporation. (b) Address: 80 Cuttermill Road, Suite 311 Great Neck, New York 11021 (c) Principal Business: Investments. (d) No. (e) No. 21. (a) Harvey Sandler, is the sole shareholder of ARH Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States ARH Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign (the "21st Century Funds"). Harvey Sandler is the father of Andrew Sandler. 22. (a) Andrew Sandler, is the sole shareholder of ALCR Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. ALCR Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. Andrew Sandler is the son of Harvey Sandler. 23. (a) Michael J. Marocco, is the sole shareholder of MJDM Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. MJDM Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. - 35 of 52 - 24. (a) John Kornreich, is the majority shareholder of Four JK Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. Four JK Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 25. (a) Douglas Schimmel, is the sole shareholder of SERF Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. SERF Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 26. (a) Hannah Stone, is the sole shareholder of TERPSI Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. TERPSI Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 27. (a) David Lee, is the sole shareholder of JIRAKAL Corp. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. JIRAKAL Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 28. (a) Woodland Partners, a partnership organized under laws of the State of New York ("Woodland"). - 36 of 52 - (b) Address: 68 Wheatley Road Brookville, New York 11545 (c) Principal Business: Investments. (d) No. (e) No. 29. (a) Marilyn Rubenstein, a general partner of Woodland. (b) Address: 68 Wheatley Road Brookville, New York 11545 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. Marilyn Rubenstein is the wife of Barry Rubenstein. ITEM 3. Source and Amount of Funds or Other Consideration. The source of funds for the acquisition of the securities was the general working capital and other funds of Applewood Associates, 21st Century, T-E, Foreign and Woodland. The source of funds for the acquisition of the securities was the personal funds of Irwin Lieber and Barry Fingerhut. Number of Shares and Purchase Warrants Price -------- ----- Applewood Associates, L.P. 306,940 $1,560,100 Irwin Lieber 11,880 100,000 Barry Fingerhut 23,760 200,000 21st Century Communications Partners, L.P. 611,719 2,224,700 21st Century Communications T-E Partners, L.P. 208,124 756,700 21st Century Communications Foreign Partners, L.P. 82,143 298,300 Woodland Partners 11,880 100,000 ITEM 4. Purpose of Transaction. Other than Barry Fingerhut's capacity as a director of the Issuer, and the reporting persons' purchase or sale of additional securities of the Issuer, no reporting person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) -(j) of Item 4 of Schedule 13D except as set forth herein. - 37 of 52 - ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 10,824,409 shares of Common Stock outstanding as reported by the Issuer in its offering documents for its initial public offering, dated June 4, 1999), of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of June 4, 1999:
Percentage of Shares Shares of Common of Common Stock Stock Beneficially Beneficially Name Owned(2) Owned(2) ---- -------- -------- Applewood Associates, L.P. 306,940(3) 2.8% Applewood Capital Corp. 306,940(4,5) 2.8% Irwin Lieber 1,220,806(4,5,6,7) 10.7% Barry Rubenstein 1,220,806(4,5,6,8) 10.7% Barry Fingerhut 1,243,378(4,5,6,9) 10.8% Seth Lieber 306,940(4,5) 2.8% Jonathan Lieber 306,940(4,5) 2.8% 21st Century Communications Partners, L.P. 901,986(4,6) 8.0% 21st Century Communications T-E Partners, L.P. 901,986(4,6) 8.0% 21st Century Communications Foreign Partners, L.P. 901,986(4,6) 8.0% Sandler Investment Partners, L.P. 901,986(4,6) 8.0%
- ---------- (2) Includes shares of Common Stock issuable upon the exercise of the 1996 Warrants and the Series C Warrants. (3) Includes 197,230 shares of Common Stock, 71,284 shares issuable upon the exercise of the 1996 Warrants and 38,426 shares issuable upon the exercise of the Series C Warrants. (4) The reporting person disclaims beneficial ownership of these securities except to the extent of his/her/its equity interest therein. (5) Includes 197,230 shares of Common Stock owned by Applewood Associates, 71,284 shares issuable upon the exercise of the 1996 Warrants owned by Applewood Associates and 38,426 shares issuable upon the exercise of the Series C Warrants owned by Applewood Associates. (6) Includes 264,308 shares of Common Stock owned by 21st Century, 89,900 shares of Common Stock owned by T-E and 35,440 shares of Common Stock owned by Foreign. Includes 241,684 shares issuable upon the exercise of the 1996 Warrants and 105,727 shares issuable upon the exercise of the Series C Warrants owned by 21st Century. Includes 82,259 shares issuable upon the exercise of the 1996 Warrants and 35,965 shares issuable upon the exercise of the Series C Warrants owned by T-E. Includes 32,477 shares issuable upon the exercise of the 1996 Warrants and 14,226 shares issuable upon the exercise of the Series C Warrants owned by Foreign. (7) Includes 11,880 shares of Common Stock owned by Irwin Lieber. (8) Includes 11,880 shares of Common Stock owned by Woodland. (9) Includes 23,760 shares of Common Stock owned by Barry Fingerhut and 10,692 shares issuable upon the exercise of currently exercisable non-qualified stock options owned by Mr. Fingerhut. - 38 of 52 - Sandler Capital Management 901,986(4,6) 8.0% ARH Corp. 901,986(4,6) 8.0% ALCR Corp. 901,986(4,6) 8.0% MJDM Corp. 901,986(4,6) 8.0% Four JK Corp. 901,986(4,6) 8.0% SERF Corp. 901,986(4,6) 8.0% TERPSI Corp. 901,986(4,6) 8.0% JIRAKAL Corp. 901,986(4,6) 8.0% Infomedia Associates, Ltd. 901,986(4,6) 8.0% Harvey Sandler 901,986(4,6) 8.0% Andrew Sandler 901,986(4,6) 8.0% Michel J. Marocco 901,986(4,6) 8.0% John Kornreich 901,986(4,6) 8.0% Douglas Schimmel 901,986(4,6) 8.0% Hannah Stone 901,986(4,6) 8.0% David Lee 901,986(4,6) 8.0% Woodland Partners 11,880(8) 0.1% Marilyn Rubenstein 11,880(4,8) 0.1% (b) Applewood Associates has sole power to vote and to dispose of 306,940 shares of Common Stock (including 71,284 shares issuable upon the exercise of the 1996 Warrants and 38,426 shares issuable upon the exercise of the Series C Warrants), representing approximately 2.8% of the outstanding shares of Common Stock. By virtue of being a general partner of Applewood Associates, Applewood Capital may be deemed to have shared power to vote and to dispose of 306,940 shares of Common Stock (including 71,284 shares issuable upon the exercise of the 1996 Warrants and 38,426 shares issuable upon the exercise of the Series C Warrants), representing approximately 2.8% of the outstanding shares of Common Stock. By virtue of being a general partner of Applewood Associates and Woodland, and a shareholder, officer and director of Infomedia, Barry Rubenstein may be deemed to have shared power to vote and to dispose of 1,220,806 shares of Common Stock (including 427,704 shares issuable upon the exercise of the 1996 Warrants and 194,344 shares issuable upon the exercise of the Series C Warrants), representing approximately 10.7% of the outstanding shares of Common Stock. Irwin Lieber has sole power to vote and to dispose of 11,880 shares of Common Stock, representing approximately 0.1% of the outstanding shares of Common Stock. By virtue of - 39 of 52 - being a general partner of Applewood Associates, and a shareholder, officer and director of Infomedia, Irwin Lieber may be deemed to have shared power to vote and to dispose of 1,208,926 shares of Common Stock (including 427,704 shares issuable upon the exercise of the 1996 Warrants and 194,344 shares issuable upon the exercise of the Series C Warrants), representing approximately 10.6% of the outstanding shares of Common Stock. Barry Fingerhut has sole power to vote and to dispose of 34,452 shares of Common Stock (including 10,692 shares issuable upon the exercise of non-qualified stock options), representing approximately 0.3% of the outstanding shares of Common Stock. By virtue of being a general partner of Applewood Associates, and a shareholder, officer and director of Infomedia, Barry Fingerhut may be deemed to have shared power to vote and to dispose of 1,208,926 shares of Common Stock (including 427,704 shares issuable upon the exercise of the 1996 Warrants and 194,344 shares issuable upon the exercise of the Series C Warrants), representing approximately 10.6% of the outstanding shares of Common Stock. By virtue of being a general partner of Applewood Associates, Seth Lieber may be deemed to have shared power to vote and to dispose of 306,940 shares of Common Stock (including 71, 284 shares issuable upon the exercise of the 1996 Warrants and 38,426 shares issuable upon the exercise of the Series C Warrants), representing approximately 2.8% of the outstanding shares of Common Stock. By virtue of being a general partner of Applewood Associates, Jonathan Lieber may be deemed to have shared power to vote and to dispose of 306,940 shares of Common Stock (including 71,284 shares issuable upon the exercise of the 1996 Warrants and 38,426 shares issuable upon the exercise of the Series C Warrants), representing approximately 2.8% of the outstanding shares of Common Stock. 21st Century has sole power to vote and to dispose of 611,719 shares of Common Stock (including 241,684 shares issuable upon the exercise of the 1996 Warrants and 105,727 shares issuable upon the exercise of the Series C Warrants), representing approximately 5.5% of the outstanding shares of Common Stock. 21st Century may be deemed to have shared power to vote and to dispose of 290,267 shares of Common Stock (including 114,736 shares issuable upon the exercise of the 1996 Warrants and 50,191 shares issuable upon the exercise of the Series C Warrants), representing approximately 2.6% of the outstanding shares of Common Stock. T-E has sole power to vote and to dispose of 208,124 shares of Common Stock (including 82,259 shares issuable upon the exercise of the 1996 Warrants and 35,965 shares issuable upon the exercise of the Series C Warrants), representing approximately 1.9% of the outstanding shares of Common Stock. T-E may be deemed to have shared power to vote and to dispose of 693,862 shares of Common Stock (including 274,161 shares issuable upon the exercise of the 1996 Warrants and 119,953 shares issuable upon the exercise of the Series C Warrants), representing approximately 6.2% of the outstanding shares of Common Stock. Foreign has sole power to vote and to dispose of 82,143 shares of Common Stock (including 32,477 shares issuable upon the exercise of the 1996 Warrants and 14,226 shares issuable upon the exercise of the Series C Warrants), representing approximately 0.8% of the outstanding shares of Common Stock. Foreign may be deemed to have shared power to vote and to dispose of 819,843 shares of Common Stock (including 323,943 shares issuable upon the exercise of the 1996 - 40 of 52 - Warrants and 141,692 shares issuable upon the exercise of the Series C Warrants), representing approximately 7.3% of the outstanding shares of Common Stock. By virtue of being a general partner of 21st Century, T-E and Foreign, Sandler Investment Partners may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Investment Partners, Sandler Capital Management may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of ARH Corp., Harvey Sandler may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of MJDM Corp., Michael Marocco may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the majority shareholder of Four JK Corp., John Kornreich may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of SERF Corp., Douglas Schimmel may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of TERPSI Corp., Hannah Stone may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon - 41 of 52 - the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being the sole shareholder of JIRAKAL Corp., David Lee may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of 21st Century, T-E and Foreign, Infomedia may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, ARH Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, ALCR Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, MJDM Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, Four JK Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, SERF Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, TERPSI Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares - 42 of 52 - issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. By virtue of being a general partner of Sandler Capital Management, JIRAKAL Corp. may be deemed to have shared power to vote and to dispose of 901,986 shares of Common Stock (including 356,420 shares issuable upon the exercise of the 1996 Warrants and 155,918 shares issuable upon the exercise of the Series C Warrants), representing approximately 8.0% of the outstanding shares of Common Stock. Woodland Partners has sole power to vote and to dispose of 11,880 shares of Common Stock, representing approximately 0.1% of the outstanding shares of Common Stock. Marilyn Rubenstein, by virtue of being a general partner of Woodland, may be deemed to have shared power to vote and to dispose of 11,880 shares of Common Stock, representing approximately 0.1% of the outstanding shares of Common Stock. (c) The following is a description of all transactions in shares of Common Stock of the Issuer by the reporting persons identified in Item 2 of this Schedule 13D effected from April 4, 1999 through June 4, 1999, inclusive: Upon the closing of the Issuer's initial public offering, all outstanding shares of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock automatically converted into shares of Common Stock of the Issuer. The reporting persons received approximately 389,648 shares of Common Stock as a result of the conversion of Series C Preferred Stock into shares of Common Stock. The Issuer has agreed to issue a total of 23,219 warrants to the reporting persons under certain circumstances. If the Issuer's average closing price for the 20-day trading period following the initial two-week period of trading of the Issuer's Common Stock is at least $16.83 per share, the warrants can not be exercised. If the Issuer's average closing price for the above 20-day period is at least $12.06, but less than $16.83 per share, then 15,479 of the warrants can be exercised. In all other cases, all of the warrants referred to above are exercisable. (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of such securities. (e) Not applicable. ITEM 6. Contracts Arrangements Understanding or Relationships with Respect to Securities of the Issuer The reporting persons agreed with the underwriters of the Issuer's initial public offering that during the period beginning on June 4, 1999 and continuing and including the date that is 180 days after June 4, 1999, they will not directly or indirectly offer, sell, offer to sell, contract to sell or otherwise dispose of, or register for sale under the Securities Act of 1933, any shares of Common Stock or any securities which are substantially similar to the Common Stock, without the prior written consent of J.P. Morgan Securities, Inc. - 43 of 52 - ITEM 7. Materials to be Filed as Exhibits Exhibit A. Agreement among the reporting persons, effective as of June 4, 1999, by which they have agreed to file this Schedule 13D and all necessary amendments, as required by Rule 13d- 1(f). - 44 of 52 - SIGNATURE After reasonable inquiry and to the best of his/its knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete and correct. Dated: June 18, 1999 APPLEWOOD ASSOCIATES, L.P. By: Irwin Lieber ---------------------------------------- Irwin Lieber, a General Partner APPLEWOOD CAPITAL CORP. By: Barry Rubenstein ---------------------------------------- Barry Rubenstein, President Barry Rubenstein ---------------------------------------- Barry Rubenstein Irwin Liber ---------------------------------------- Irwin Lieber Barry Fingerhut ---------------------------------------- Barry Fingerhut Seth Lieber ---------------------------------------- Seth Lieber Jonathan Lieber ---------------------------------------- Jonathan Lieber INFOMEDIA ASSOCIATES, LTD. By: Irwin Lieber ---------------------------------------- Irwin Lieber, Secretary and Treasurer WOODLAND PARTNERS By: Barry Rubenstein ---------------------------------------- Barry Rubenstein, a General Partner Marilyn Rubenstein ---------------------------------------- Marilyn Rubenstein - 45 of 52 - 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer - 46 of 52 - SANDLER INVESTMENT PARTNERS, L.P. By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer SANDLER CAPITAL MANAGEMENT By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer ARH CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer ALCR CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer MJDM CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer FOUR JK CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer - 47 of 52 - SERF CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer TERPSI CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer JIRAKAL CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer Harvey Sandler ---------------------------------------- Harvey Sandler Andrew Sandler ---------------------------------------- Andrew Sandler Michael Marocco ---------------------------------------- Michael Marocco John Kornreich ---------------------------------------- John Kornreich Douglas Schimmel ---------------------------------------- Douglas Schimmel Hannah Stone ---------------------------------------- Hannah Stone David Lee ---------------------------------------- David Lee ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 48 of 52 - JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $.0001 per share, of ONLINE RESOURCES & COMMUNICATIONS CORPORATION and that this Agreement be filed as an Exhibit to such statement on Schedule 13D. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective as of the 4th day of June, 1999. APPLEWOOD ASSOCIATES, L.P. By: Irwin Lieber ---------------------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. By: Barry Rubenstein ---------------------------------------- Barry Rubenstein, President Barry Rubenstein ---------------------------------------- Barry Rubenstein Irwin Liber ---------------------------------------- Irwin Lieber Barry Fingerhut ---------------------------------------- Barry Fingerhut Seth Lieber ---------------------------------------- Seth Lieber Jonathan Lieber ---------------------------------------- Jonathan Lieber INFOMEDIA ASSOCIATES, LTD. By: Irwin Lieber ---------------------------------------- Irwin Lieber, Secretary and Treasurer WOODLAND PARTNERS By: Barry Rubenstein ---------------------------------------- Barry Rubenstein, a General Partner Marilyn Rubenstein ---------------------------------------- Marilyn Rubenstein - 49 of 52 - 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P. By: Sandler Investment Partners, L.P., General Partner By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer - 50 of 52 - SANDLER INVESTMENT PARTNERS, L.P. By: Sandler Capital Management, General Partner By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer SANDLER CAPITAL MANAGEMENT By: ARH Corp., General Partner By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer ARH CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer ALCR CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer MJDM CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer FOUR JK CORP. By: Edward Grinacoff ---------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer - 51 of 52 - SERF CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer TERPSI CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer JIRAKAL CORP. By: Moira Mitchell ---------------------------------------- Name: Moira Mitchell Title: Secretary and Treasurer Harvey Sandler ---------------------------------------- Harvey Sandler Andrew Sandler ---------------------------------------- Andrew Sandler Michael Marocco ---------------------------------------- Michael Marocco John Kornreich ---------------------------------------- John Kornreich Douglas Schimmel ---------------------------------------- Douglas Schimmel Hannah Stone ---------------------------------------- Hannah Stone David Lee ---------------------------------------- David Lee - 52 of 52 - -----END PRIVACY-ENHANCED MESSAGE-----