-----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, WXHpwE5S4JIOWaAR5QqEsW/xhke5EpU3G/Oqey64sIPeywI+5H1KMipClf6k9/cd NUNIPLOUToUwN6QGXEb5wg== 0001012975-02-000186.txt : 20020613 0001012975-02-000186.hdr.sgml : 20020613 20020613152714 ACCESSION NUMBER: 0001012975-02-000186 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020613 GROUP MEMBERS: ADVANCED SYSTEMS EUROPE B.V. GROUP MEMBERS: FORMULA SYSTEMS (1985) LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LEVEL 8 SYSTEMS INC CENTRAL INDEX KEY: 0000945384 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 112920559 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49420 FILM NUMBER: 02678268 BUSINESS ADDRESS: STREET 1: 8000 REGENCY PARKWAY CITY: CARY STATE: NC ZIP: 27511 BUSINESS PHONE: 2122441234 MAIL ADDRESS: STREET 1: 8000 REGENCY PARKWAY CITY: CARY STATE: NC ZIP: 27511 FORMER COMPANY: FORMER CONFORMED NAME: ACROSS DATA SYSTEMS INC DATE OF NAME CHANGE: 19950517 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LIRAZ SYSTEMS LTD CENTRAL INDEX KEY: 0001008408 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 5 HATZOREF STREET CITY: HOLON 5886 ISRAEL STATE: L3 ZIP: 00000 BUSINESS PHONE: 2122441234 MAIL ADDRESS: STREET 1: 5 HATZOREF STREET CITY: HOLON 5886 ISRAEL STATE: L3 SC 13D/A 1 e71250.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Amendment No. 4 under the Securities Exchange Act of 1934 LEVEL 8 SYSTEMS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.001 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 52729M 10 2 -------------------------------------------------------- (CUSIP Number) Mr. Yossi Shemesh Liraz Systems Ltd. 3 Azrieli Center 67023 Tel Aviv, Israel Telephone: 972-3-6075454 with copies to: Bruria Gross-Prushansky, Esq. Formula Systems (1985) Ltd. 3 Hagalim Boulevard 46725 Herzlia, Israel Telephone : 972-9-9598877 Edward W. Kerson, Esq. Rabinowitz & Kerson LLP 546 Fifth Avenue New York, New York 10036 Telephone: (212) 768-1666 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 4, 2002 -------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), 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 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 ("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. 52729 M 10 2 Page 2 of 9 ________________________________________________________________________________ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Liraz Systems Ltd. ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,034,268 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,034,268 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,034,268 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON HC ________________________________________________________________________________ CUSIP No. 52729 M 10 2 Page 3 of 9 ________________________________________________________________________________ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Formula Systems (1985) Ltd. ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Israel ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,034,268 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,034,268 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,034,268 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.1% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON HC ________________________________________________________________________________ CUSIP No. 52729 M 10 2 Page 4 of 9 ________________________________________________________________________________ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Advanced Systems Europe B.V. ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Netherlands ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 1,353,905 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 1,353,905 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,353,905 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON CO ________________________________________________________________________________ CUSIP No. 52729 M 10 2 Page 5 of 9 Item 1. Security and Issuer This Schedule 13D relates to the common stock, par value $0.001 per share (the "Common Stock"), of Level 8 Systems, Inc., a Delaware corporation ("Level 8"). This Schedule 13D is being filed to amend the Schedule 13D filed with regard to shares of Level 8 beneficially owned by Liraz Systems Ltd. ("Liraz"), Advanced Systems Europe B.V. ("Advanced Systems"), and Formula Systems (1985) Ltd. filed March 9, 1999, as amended on November 8, 2000, on November 19, 2001, and on June 3, 2002. The Schedule 13D, as amended through June 3, 2002, is unchanged, except as otherwise set forth in this amendment. Item 4. Purpose of Transaction On June 4, 2002, June 5, 2002, June 6, 2002, June 10, 2002, and June 11, 2002, Liraz and Advanced Systems sold an aggregate of 1,751,500 shares of Common Stock to raise capital for general business purposes, including financing of the business of BluePhoenix Solutions BV, a wholly-owned subsidiary of Advanced Systems that acquired Level 8's AppBuilder business in October 2001. Item 5. Interest in Securities of the Issuer The Reporting Persons directly own the following numbers of shares of Common Stock: Number of Shares Reporting Person Directly Owned ---------------- -------------- Liraz 680,363 Advanced Systems 1,353,905 (1) (1) Includes 1,200,048 shares issuable upon conversion of Series A1 Convertible Redeemable Preferred Stock. Liraz and Formula may be deemed to share power to vote and to dispose of the 680,363 shares Liraz directly owns, and Liraz, Formula, and Advanced Systems may be deemed to share power to vote and to dispose of the 1,353,905 shares Advanced Systems directly owns. Accordingly, Liraz and Formula may each be deemed to beneficially own 2,034,268 shares of Common Stock, or 10.1% of the outstanding shares of Common Stock. On June 5, 2002, June 6, 2002, and June 10, 2002, Liraz sold an aggregate of 701,500 shares of Common Stock for an aggregate of $367,754 in open-market transactions as detailed below: CUSIP No. 52729 M 10 2 Page 6 of 9
Number of Average price per share Total Price Date Seller Shares Sold (excluding commissions) (excluding commissions) - ---- ------ ----------- --------------------- --------------------- June 5, 2002 Liraz 11,000 $0.78 $8,580 June 6, 2002 Liraz 54,000 $0.60 $32,510 June 10, 2002 Liraz 636,500 $0.51 $326,664 ------- -------- Total 701,500 $367,754 ------- --------
On June 4, 2002, June 6, 2002, June 10, 2002, and June 11, 2002, Liraz and Advanced Systems sold an aggregate of 1,050,000 shares of Common Stock for an aggregate of $576,000 in privately negotiated transactions as detailed below:
Number of Average price per share Total Price Date Seller Shares Sold (excluding commissions) (excluding commissions) - ---- ------ ----------- --------------------- --------------------- June 4, 2002 Liraz 400,000 $0.67 $268,000 June 6, 2002 Liraz 300,000 $0.47 $141,000 June 10, 2002 Liraz 250,000 $0.42 $105,000 June 11, 2002 Advanced Systems 50,000 $0.82 $41,000 June 11, 2002 Liraz 50,000 $0.42 $21,000 ------ ------- Total 1,050,000 $576,000 --------- --------
Except as set forth above, neither the Reporting Persons nor, to the best of the knowledge of the Reporting Persons, any of the individuals named in Schedule A, beneficially own any shares of Common Stock. Item 7. Material to be Filed as Exhibits 99.1 Joint filing agreement regarding the filing of this Schedule, attached hereto. CUSIP No. 52729 M 10 2 Page 7 of 9 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. Dated: June 12, 2002. LIRAZ SYSTEMS LTD. ADVANCED SYSTEMS EUROPE B.V. FORMULA SYSTEMS (1985) LTD. By: LIRAZ SYSTEMS LTD. By: Yossi Shemesh/Arie Kilman -------------------------- Printed Name: Yossi Shemesh/Arie Kilman Title: Chief Executive Officer/Chairman For itself and on behalf of each of Formula Systems (1985) Ltd. and Advanced Systems Europe B.V. pursuant to the agreement annexed hereto as Exhibit 99.1. CUSIP No. 52729 M 10 2 Page 8 of 9 Exhibit Index 99.1 Joint filing agreement regarding the filing of this Schedule, attached hereto. CUSIP No. 52729 M 10 2 Page 9 of 9 Exhibit 1 AGREEMENT OF LIRAZ SYSTEMS LTD., FORMULA SYSTEMS (1985) LTD. AND ADVANCED SYSTEMS EUROPE B.V. Pursuant to Rule 13d-1(k) The undersigned hereby agree that the Statement on Schedule 13D to which this Agreement is annexed as Exhibit 99.1 may be filed by Liraz Systems Ltd. on behalf of each of them in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934. Dated: June 12, 2002. LIRAZ SYSTEMS LTD. By: Yossi Shemesh/Arie Kilman -------------------------- Printed Name: Yossi Shemesh/Arie Kilman Title: Chief Executive Officer/Chairman ADVANCED SYSTEMS EUROPE B.V. By: Yossi Shemesh/Yoel Amir ------------------------ Printed Name: Yossi Shemesh/Yoel Amir Title: Director/Chief Executive Officer FORMULA SYSTEMS (1985) LTD. By: Dan Goldstein ------------- Printed Name: Dan Goldstein Title: Chairman of the Board and Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----