-----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, CX1OWPkAhc8na/uHf8E97KzRbkI2Ats2q5WUqJCreFsKBIjeXCWkK6jovNcC+vtn jg0fq5soPBAapFeO3UVpBw== 0000950123-97-008759.txt : 19971022 0000950123-97-008759.hdr.sgml : 19971022 ACCESSION NUMBER: 0000950123-97-008759 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19971021 SROS: NONE GROUP MEMBERS: JOSEPH STECHLER GROUP MEMBERS: STECHLER JOSEPH & CO INC /NJ/ /ADV SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ORTEC INTERNATIONAL INC CENTRAL INDEX KEY: 0000889992 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEDICAL LABORATORIES [8071] IRS NUMBER: 113068704 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-47439 FILM NUMBER: 97698507 BUSINESS ADDRESS: STREET 1: 3960 BROADWAY STREET 2: BLDG 28 CITY: NEW YORK STATE: NY ZIP: 10032 BUSINESS PHONE: 7183264698 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STECHLER JOSEPH & CO INC /NJ/ /ADV CENTRAL INDEX KEY: 0000889391 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 222706307 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 15 ENGEL STREET CITY: ENGLEWOOD STATE: NJ ZIP: 07631 BUSINESS PHONE: 2018941500 MAIL ADDRESS: STREET 1: 15 ENGEL ST CITY: ENGELWOOD STATE: NJ ZIP: 07631 FORMER COMPANY: FORMER CONFORMED NAME: STECHLER JOSEPH & CO INC /NJ/ /ADV DATE OF NAME CHANGE: 19971001 SC 13D/A 1 ORTEC INTERNATIONAL, INC. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.1) ORTEC INTERNATIONAL, INC. (Name of Issuer) Common Stock, $0.001 Par Value (Title of Class of Securities) 68749B108 (CUSIP Number) Gabriel Kaszovitz, Esq. Feder, Kaszovitz, Isaacson, Weber, Skala & Bass LLP 750 Lexington Avenue New York, New York 10022 (212) 888-8200 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 10, 1997 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13-d-1(b)(3) or (4), check the following box / /. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *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 disclosure provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Continued on following page(s) Page 1 of 7 Pages Exhibit Index: None 2 PAGE 2 OF 7 PAGES SCHEDULE 13D CUSIP NO. 68749B108 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person JOSEPH STECHLER & COMPANY, INC. 2 Check the Appropriate Box if a Member of a Group* a. / / b. /X/ 3 SEC Use Only 4 Source of Funds* 00 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 Jersey 7 Sole Voting Power Number of 1,002,980 Shares Beneficially 8 Shared Voting Power Owned By 0 Each Reporting 9 Sole Dispositive Power Person 1,002,980 With 10 Shared Dispositive Power 0 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,002,980 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* /X/ 13 Percent of Class Represented by Amount in Row (11) 20.02% 14 Type of Reporting Person* CO; IA *SEE INSTRUCTIONS BEFORE FILLING OUT! 3 PAGE 3 OF 7 PAGES SCHEDULE 13D CUSIP NO. 68749B108 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person JOSEPH STECHLER (in the capacity described herein) 2 Check the Appropriate Box if a Member of a Group* a. / / b. /X/ 3 SEC Use Only 4 Source of Funds* 00 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 1,209,616 Shares Beneficially 8 Shared Voting Power Owned By 0 Each Reporting 9 Sole Dispositive Power Person 1,209,616 With 10 Shared Dispositive Power 0 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,209,616 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / 13 Percent of Class Represented by Amount in Row (11) 23.19% 14 Type of Reporting Person* IN; IA *SEE INSTRUCTIONS BEFORE FILLING OUT! 4 PAGE 4 OF 7 PAGES This Amendment No. 1 to Schedule 13D relates to shares of common stock, $0.001 par value per share (the "Shares"), of Ortec International, Inc. (the "Issuer"). This Amendment No. 1 supplementally amends the Initial Statement on Schedule 13D dated September 29, 1997 (the "Initial Statement"), filed by the Reporting Persons. This Amendment No. 1 is being filed to report that as a result of recent acquisitions of Shares of the Issuer, the number of Shares of which the Reporting Persons may be deemed the beneficial owners has increased by more than one percent of the total outstanding Shares. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Initial Statement. The Initial Statement is supplementally amended as follows: ITEM 2. IDENTITY AND BACKGROUND. This Statement is being filed by Joseph Stechler & Company, Inc. ("JSC") and by Mr. Joseph Stechler ("Mr. Stechler"). All the recent acquisition of Shares of the Issuer reported in this amendment were acquired and held for the account of SFM LLC and Quasar Partners, an institutional client of JSC. Such Shares were acquired at the direction of JSC. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. JSC invested approximately $727,400 of the funds of Quasar Partners to purchase the Shares reported herein as being acquired since September 29, 1997 (the date as of which the Initial Statement was filed) for the account of Quasar Partners. Amendment No. 1 to its Schedule 13D was filed on October 15, 1997 by SFM LLC, among others, reporting the purchase of such Shares by JSC pursuant to the JSC Contract. The Shares held for the account of Quasar Partners may be held through margin accounts maintained with brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules, and such firms' credit policies. Such Shares which may be held in the margin accounts are pledged as collateral security for the repayment of debit balances in the respective accounts. ITEM 4. PURPOSE OF TRANSACTION. The Reporting Persons have been advised by SFM LLC that all of the Shares reported herein as having been acquired for or disposed of from the account of Quasar Partners were acquired or disposed of for investment purposes. None among the Reporting Persons nor, to the best of their knowledge, SFM LLC nor Quasar Partners, has any plans or proposals that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. JSC and Mr. Stechler reserve the right to acquire, or cause to be acquired, additional securities of the Issuer, to dispose of, or cause to be disposed, such securities at any time or to formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons, market conditions or other factors. 5 PAGE 5 OF 7 PAGES ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) JSC may be deemed to be the beneficial owner (as that term is defined in Rule 13d-3) of 1,002,980 Shares (20.02% of the total number of Shares outstanding assuming the exercise of all warrants held by JSC), which consists of (i) 460,630 Shares, (ii) the 405,900 Shares held for the account of Quasar Partners pursuant to the JSC Contract and (iii) 136,450 Shares which JSC has the right to acquire upon exercise of warrants owned by it. Including such Shares which may be deemed to be beneficially owned by JSC and which JSC has the right to acquire, Mr. Stechler may be deemed to be the beneficial owner (as that term is defined in Rule 13d-3) of 1,209,616 Shares (23.19% of the total number of Shares outstanding assuming the exercise of all warrants and options owned by Mr. Stechler and JSC), which consists of (iv) 460,630 Shares owned by JSC, (v) 405,900 Shares held for the account of Quasar Partners, (vi) 206,636 Shares which Mr. Stechler has the right to acquire upon the exercise of warrants and options owned by him and (vii) 136,450 Shares which JSC has the right to acquire upon the exercise of warrants owned by it. (b) The Shares listed below include the 405,900 Shares held by JSC for the account of Quasar Partners pursuant to the JSC contract:
Mr. Stechler (including Shares JSC reported for JSC) --- ----------------- Sole power to vote or direct the vote: 1,002,980 1,209,616 Sole power to dispose or direct the disposition: 1,002,980 1,209,616
(c) See Annex A-1. All transactions there listed were routine brokerage transactions in the over-the-counter market. There have been no transactions since September 29, 1997 other than those listed in Annex A-1. (d) The Reporting Persons have been advised that the partners of Quasar Partners, including Quasar International Fund N.V., a Netherlands Antilles corporation, have the right to participate in the receipt of dividends from, or proceeds from the sale of, the 405,900 Shares held by JSC for the account of Quasar Partners, in accordance with their partnership interests in Quasar Partners. The Reporting Persons have the right to receive or direct the receipt of dividends from, or proceeds from the sale of, all Shares deemed beneficially owned by them except the 405,900 Shares held by JSC for the account of Quasar Partners. (e) Not applicable. 6 PAGE 6 OF 7 PAGES SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Date: October 20, 1997 /s/ Joseph Stechler ------------------------------------------- JOSEPH STECHLER JOSEPH STECHLER & COMPANY, INC. By /s/ Joseph Stechler --------------------------------------- Joseph Stechler, President 7 PAGE 7 OF 7 PAGES ANNEX A-1 RECENT PURCHASES OF THE COMMON STOCK OF ORTEC INTERNATIONAL, INC. FOR THE ACCOUNT OF QUASAR PARTNERS. ALL TRANSACTIONS EFFECTED BY JSC
DATE OF NUMBER OF PRICE TRANSACTION SHARES PER SHARE 09/30/97 10,000 13.9370 10/01/97 5,000 13.8100 10/06/97 10,000 13.5000 10/07/97 5,000 13.6250 10/08/97 5,000 13.6250 10/09/97 5,000 13.7500 10/09/97 3,000 13.9350 10/10/97 5,000 13.8100 10/10/97 5,000 13.6250
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