-----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, IDZLN6dHV7sNGkoHKceDBgpg42BRHLKEHOIi9nvrgmA9XcrQXuaYjPTRgd/zdSJ8 Brf5amy4xWTki8ObHUnACQ== 0001068238-99-000013.txt : 19990212 0001068238-99-000013.hdr.sgml : 19990212 ACCESSION NUMBER: 0001068238-99-000013 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990211 GROUP MEMBERS: JOSEPH SORBARA GROUP MEMBERS: STEVEN MARKOWITZ GROUP MEMBERS: STEVENS JOSEPH & CO INC//NY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NAM CORP CENTRAL INDEX KEY: 0000925741 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-LEGAL SERVICES [8111] IRS NUMBER: 232753988 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-52381 FILM NUMBER: 99531376 BUSINESS ADDRESS: STREET 1: 1010 NORTHERN BLVD STREET 2: STE 336 CITY: GREAT NECK STATE: NY ZIP: 11021 MAIL ADDRESS: STREET 1: 1010 NORTHERN BLVD., SUITE 336 CITY: GREAT NECK STATE: NY ZIP: 11021 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STEVENS JOSEPH & CO INC//NY CENTRAL INDEX KEY: 0000919038 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 113182400 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 33 MAIDEN LANE-8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10038 BUSINESS PHONE: 2123613000 MAIL ADDRESS: STREET 1: 33 MAIDEN LANE CITY: NEW YORK STATE: NY ZIP: 10038 SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* NAM Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 62872L 10 8 ----------------------------------------------- (CUSIP Number) 12/31/98 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed. |X| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 62872L 10 8 SCHEDULE 13G Page 2 of 11 Pages ------------- --- --- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Joseph Stevens & Company, Inc.(successor to Joseph Stevens & Company, L.P.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- | 5 SOLE VOTING POWER NUMBER OF | SHARES | 321,073 shares of Common Stock. See Item 4. BENEFICIALLY |------------------------------------------------- OWNED BY | 6 SHARED VOTING POWER EACH | REPORTING |------------------------------------------------- PERSON | 7 SOLE DISPOSITIVE POWER WITH | | 321,073 shares of Common Stock. See Item 4. |------------------------------------------------- | 8 SHARED DISPOSITIVE POWER | - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 321,073 shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% of shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON BD - -------------------------------------------------------------------------------- CUSIP No. 62872L 10 8 SCHEDULE 13G Page 3 of 11 Pages ------------ --- ---- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Joseph Sorbara - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- | 5 SOLE VOTING POWER NUMBER OF | SHARES | 321,073 shares of Common Stock. See Item 4. BENEFICIALLY |------------------------------------------------- OWNED BY | 6 SHARED VOTING POWER EACH | REPORTING |------------------------------------------------- PERSON | 7 SOLE DISPOSITIVE POWER WITH | | 321,073 shares of Common Stock. See Item 4. |------------------------------------------------- | 8 SHARED DISPOSITIVE POWER | - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 321,073 shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% of shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- CUSIP No. 62872L 10 8 SCHEDULE 13G Page 4 of 11 Pages ------------ --- ---- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Steven Markowitz - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- | 5 SOLE VOTING POWER NUMBER OF | SHARES | 321,073 shares of Common Stock. See Item 4. BENEFICIALLY |------------------------------------------------- OWNED BY | 6 SHARED VOTING POWER EACH | REPORTING |------------------------------------------------- PERSON | 7 SOLE DISPOSITIVE POWER WITH | | 321,073 shares of Common Stock. See Item 4. |------------------------------------------------- | 8 SHARED DISPOSITIVE POWER | - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 321,073 shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% of shares of Common Stock. See Item 4. - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- CUSIP No. 62872L 10 8 SCHEDULE 13G Page 5 of 11 Pages ------------ --- ---- ITEM 1. (a) Name of Issuer: NAM Corporation (b) Address of Issuer's Principal Executive Offices: 1010 Northern Boulevard Suite 336 Great Neck, New York 11021 ITEM 2. (a) Name of Persons Filing: Joseph Stevens and Company, Inc. (successor to Joseph Stevens & Company, L.P.), Mr. Joseph Sorbara and Mr. Steven Markowitz (b) Address of Principal Business Office: The principal business address for each of Joseph Stevens & Company, Inc. and Messrs. Sorbara and Markowitz is: c/o Joseph Stevens & Company, Inc. 33 Maiden Lane New York, New York 10038 (c) Citizenship: Joseph Stevens & Company, Inc. is incorporated in the state of New York. Mr. Sorbara and Mr. Markowitz are United States citizens. (d) Title of Class of Securities: Common Stock, $.001 par value per share (the "Common Stock"). (e) CUSIP Number: 62872L 10 8 ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) |X| Broker or Dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C.78c); (c) |_| Insurance Company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) |_| Investment Company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) |_| An investment advisor in accordance with ss.240.13d-1(b)(1) (ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); CUSIP No. 62872L 10 8 SCHEDULE 13G Page 6 of 11 Pages ------------ --- ---- (g) |_| A parent holding company or control person in accordance with ss.240.13d-1(b)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C.80a-3); (j) |_| Group, in accordance with ss.240.13d-1(1)(ii)(J). ITEM 4. Ownership. (a) Amount Beneficially Owned: As of December 31, 1998, Joseph Stevens & Company, Inc. owned warrants ("JSC Warrants") to purchase 140,000 units, each unit ("Unit") consisting of one share of Common Stock and one redeemable common stock purchase warrant ("Redeemable Warrants"). Each Redeemable Warrant entitled the holder to purchase an additional share of Common Stock. The JSC Warrants were exercisable commencing on November 8, 1997. Additionally, Joseph Stevens & Company, Inc. held 31,023 shares of Common Stock and 10,050 Redeemable Warrants in its market making account on December 31, 1998. As of December 31, 1998, each Redeemable Warrant was immediately exercisable to purchase an additional share of Common Stock. Therefore, as of December 31, 1998, Joseph Stevens & Company, Inc. beneficially owned 321,073 shares of Common Stock within the meaning of Rule 13d-3 of the Act. Mr. Joseph Sorbara was a controlling shareholder, director and officer of Joseph Stevens & Company, Inc. as of December 31, 1998. Based upon the foregoing, as of December 31, 1998, Mr. Sorbara beneficially owned 321,073 shares of Common Stock within the meaning of Rule 13d-3 of the Act. Mr. Steven Markowitz was a controlling shareholder, director and officer of Joseph Stevens & Company, Inc. as of December 31, 1998. Based upon the foregoing, as of December 31, 1998, Mr. Markowitz beneficially owned 321,073 shares of Common Stock within the meaning of Rule 13d-3 of the Act. (b) Percent of Class: As of December 31, 1998, Joseph Stevens & Company, Inc., was the beneficial owner of an aggregate of 321,073 shares of Common Stock, which constituted approximately 8.9% of the shares of Common Stock outstanding (based upon 3,334,978 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended September 30, 1998). As of December 31, 1998, Mr. Joseph Sorbara was the beneficial owner of an aggregate of 321,073 shares of Common Stock, which constituted approximately 8.9% of the shares of Common Stock outstanding (based upon 3,334,978 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended September 30, 1998). As of December 31, 1998, Mr. Steven Markowitz was the beneficial owner of an aggregate of 321,073 shares of Common Stock, which constituted approximately 8.9% of CUSIP No. 62872L 10 8 SCHEDULE 13G Page76 of 11 Pages ------------ --- ---- the shares of Common Stock outstanding (based upon 3,334,978 shares of Common Stock outstanding as reported in the Issuer's Form 10-QSB for the quarterly period ended September 30, 1998). (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: As of December 31, 1998, Joseph Stevens & Company, Inc. had sole power to vote or direct the vote of 321,073 shares of Common Stock. See Item 4(a) above. As of December 31, 1998, Joseph Sorbara had sole power to vote or direct the vote of 321,073 shares of Common Stock. See Item 4(a) above. As of December 31, 1998, Steven Markowitz had sole power to vote or direct the vote of 321,073 shares of Common Stock. See Item 4(a) above. (ii) Shared power to vote or direct the vote: Not applicable. (iii)Sole power to dispose or to direct the disposition of: As of December 31, 1998, Joseph Stevens & Company, Inc. had sole power to dispose or to direct the disposition of 321,073 shares of Common Stock. See Item 4(a) above. As of December 31, 1998, Joseph Sorbara had sole power to dispose or to direct the disposition of 321,073 shares of Common Stock. See Item 4(a) above. As of December 31, 1998, Steven Markowitz had sole power to dispose or to direct the disposition of 321,073 shares of Common Stock. See Item 4(a) above. (iv) Shared power to dispose or to direct the disposition of: Not applicable. ITEM 5. Ownership of Five Percent or Less of a Class. Not Applicable. ITEM 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not Applicable. ITEM 8. Identification and Classification of Members of the Group. Not Applicable. ITEM 9. Notice of Dissolution of Group. CUSIP No. 62872L 10 8 SCHEDULE 13G Page 8 of 11 Pages ------------ --- ---- Not Applicable. ITEM 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. CUSIP No. 62872L 10 8 SCHEDULE 13G Page 9 of 11 Pages ------------ --- ---- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 10, 1999 -------------------------------------------------- (Date) JOSEPH STEVENS & COMPANY, INC. /s/Joseph Sorbara -------------------------------------------------- Joseph Sorbara Chief Executive Officer February 10, 1999 -------------------------------------------------- (Date) /s/Joseph Sorbara -------------------------------------------------- (Signature) Joseph Sorbara -------------------------------------------------- (Name) February 10, 1999 -------------------------------------------------- (Date) /s/Steven Markowitz -------------------------------------------------- (Signature) Steven Markowitz -------------------------------------------------- (Name) CUSIP No. 62872L 10 8 SCHEDULE 13G Page 10 of 11 Pages ------------ --- ---- EXHIBIT INDEX Exhibit No. Title: Sequentially Numbered Page on Which Exhibit Begins 1. Joint Filing Agreement pursuant 11 to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended, among Joseph Stevens & Company, Inc., Mr. Joseph Sorbara and Mr. Steven Markowitz CUSIP No. 62872L 10 8 SCHEDULE 13G Page 11 of 11 Pages ------------ --- ---- EXHIBIT 1 Joint Filing Agreement pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended. Each of the undersigned hereby agrees to be included in the filing of the Schedule 13G dated February 10, 1999 with respect to the issued and outstanding Common Stock of NAM Corporation beneficially owned by each of the undersigned, respectively. Dated: February 10, 1999 Joseph Stevens & Company, Inc. /s/Joseph Sorbara -------------------------------------------------- Joseph Sorbara Chief Executive Officer /s/Joseph Sorbara -------------------------------------------------- Joseph Sorbara /s/Steven Markowitz -------------------------------------------------- Steven Markowitz -----END PRIVACY-ENHANCED MESSAGE-----