UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934

(Amendment No. 9)(1)

 

NETWORK-1 SECURITY SOLUTIONS, INC.

(Name of Issuer)

 

Common Stock, $0.01 Par Value Per Share

(Title of Class of Securities)

 

       64121N109        

(CUSIP Number)

 

Woodland Partners

68 Wheatley Road

Brookville, NY 11545

Telephone: (516) 626-3070

 

With a copy to:

 

Michael R. Reiner, Esq.

Breslow & Walker, LLP

767 Third Avenue

New York, New York 10017

Telephone: (212) 832-1930

 

(Name, Address and Telephone Number of Person Authorized

to Receive Notices and Communications)

 

  October 4, 2013  
  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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: o

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule13d-7 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 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).

Page 1 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

160,011 shares


8

 

SHARED VOTING POWER 

1,654,382 shares  


9

 

SOLE DISPOSITIVE POWER 

160,011 shares  


10

 

SHARED DISPOSITIVE POWER 

1,654,382 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,814,393 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

Page 2 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

481,600 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

481,600 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
481,600 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

Page 3 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

34,136 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

34,136 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,136 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

Page 4 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

32,584 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

32,584 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,584 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

Page 5 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Woodland Venture Fund

 

2

 


CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

669,224 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

669,224 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
669,224 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

Page 6 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Seneca Ventures

 

2

 


CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

479,983 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

479,983 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
479,983 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

Page 7 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

1,049 shares


8

 

SHARED VOTING POWER 

1,653,333 shares  


9

 

SOLE DISPOSITIVE POWER 

1,049 shares  


10

 

SHARED DISPOSITIVE POWER 

1,653,333 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,654,382 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

Page 8 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Woodland Services Corp.

 

2

 


CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

0 shares


8

 

SHARED VOTING POWER 

1,149,207 shares  


9

 

SOLE DISPOSITIVE POWER 

0 shares  


10

 

SHARED DISPOSITIVE POWER 

1,149,207 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,149,207 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

CO

Page 9 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES 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 (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

309,316 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

309,316 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
309,316 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

Page 10 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Brookwood Partners, L.P.

 

2

 


CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

194,810 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

194,810 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
194,810 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

Page 11 of 17
CUSIP No. 64121N109 13D

 

1

 


NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Applegreen Partners

 

2

 


CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) £
 
(b) £

 

3

 


SEC USE ONLY


4 SOURCE OF FUNDS* (SEE INSTRUCTIONS)

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

Number of 

Shares 

Beneficially 

Owned By 

Each 

Reporting 

Person 

With 

 
7

 

SOLE VOTING POWER 

0 shares


8

 

SHARED VOTING POWER 

0 shares  


9

 

SOLE DISPOSITIVE POWER 

0 shares  


10

 

SHARED DISPOSITIVE POWER 

0 shares  


11

 


AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 shares

 

12

 


CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
£

 

13

 


PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%

 

14

 


TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

Page 12 of 17

This statement, dated October 4, 2013, constitutes Amendment No. 9 to the Schedule 13D, dated November 12, 1998, regarding the reporting persons’ ownership of certain securities of Network-1 Security Solutions, Inc. All capitalized terms used herein and otherwise undefined shall have the meanings ascribed in the Schedule.

 

Item 5.Interests in Securities of the Issuer.

 

Item 5 is hereby amended and restated as follows:

 

(a)     The following list sets forth the aggregate number and percentage (based on 26,047,683 shares of Common Stock outstanding as reported in the Issuer’s Form 10-Q/A for the quarter ended June 30, 2013), of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of October 4, 2013:

 

Name Shares of Common Stock Beneficially Owned(2) Percentage of Shares of
Common Stock
Beneficially Owned
Barry Rubenstein 1,814,393(3), (4), (5), (6), (7), (8), (9) 7.0%
Irwin Lieber 481,600(10) 1.8%
Seth Lieber 34,136(11) 0.1%
Jonathan Lieber 32,584(12) 0.1%
Woodland Venture Fund 669,224(5) 2.6%
Seneca Ventures 479,983(6) 1.8%
Marilyn Rubenstein 1,654,382(3), (5), (6), (7), (8), (9) 6.4%
Woodland Services Corp. 1,149,206(3), (5), (6) 4.4%
Woodland Partners 309,316(7) 1.2%
Brookwood Partners, L.P. 194,810(9) 0.7%
Applegreen Partners 0 0%

 

 
  (2) Includes shares of Common Stock issuable upon the exercise of the August 2009 Option.
  (3) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therein.
  (4) Includes 150,011 shares of Common Stock owned individually by Barry Rubenstein and 10,000 shares of Common Stock issuable upon the exercise of the August 2009 Option.
  (5) Includes 669,224 shares of Common Stock owned by Woodland Venture.
  (6) Includes 479,983 shares of Common Stock owned by Seneca.
  (7) Includes 309,316 shares of Common Stock owned by Woodland Partners.
  (8) Includes 1,049 shares of Common Stock owned by Marilyn Rubenstein.
  (9) Includes 194,810 shares of Common Stock owned by Brookwood.
  (10) Includes 481,600 shares of Common Stock owned individually by Irwin Lieber and 10,000 shares of Common Stock issuable upon the exercise of the August 2009 Option.
  (11) Includes 34,136 shares of Common Stock owned individually by Seth Lieber.
  (12) Includes 32,584 shares of Common Stock owned individually by Jonathan Lieber.
Page 13 of 17

(b)     Barry Rubenstein, by virtue of being a general partner of Woodland Venture, Seneca, Woodland Partners and Brookwood, and the husband of Marilyn Rubenstein, may be deemed to have shared power to vote and to dispose of 1,654,382 shares of Common Stock, representing approximately 6.4% of the outstanding Common Stock. Barry Rubenstein has sole power to vote and to dispose of 160,011 shares of Common Stock (including shares issuable upon the exercise of the August 2009 Option), representing approximately 0.6% of the outstanding Common Stock.

 

Irwin Lieber has sole power to vote and to dispose of 481,600 shares of Common Stock (including shares issuable upon the exercise of the August 2009 Option), representing approximately 1.8% of the outstanding Common Stock.

 

Seth Lieber has sole power to vote and to dispose of 34,136 shares of Common Stock, representing approximately 0.1% of the outstanding Common Stock.

 

Jonathan Lieber has sole power to vote and to dispose of 32,584 shares of Common Stock, representing approximately 0.1% of the outstanding Common Stock.

 

Woodland Venture has sole power to vote and to dispose of 669,224 shares of Common Stock, representing approximately 2.6% of the outstanding Common Stock.

 

Seneca has sole power to vote and to dispose of 479,983 shares of Common Stock, representing approximately 1.8% of the outstanding Common Stock.

 

Marilyn Rubenstein has sole power to vote and to dispose of 1,049 shares of Common Stock, representing approximately 0.004% of the outstanding Common Stock, and by virtue of being an officer of Services and a general partner of Woodland Partners and Brookwood, may be deemed to have shared power to vote and to dispose of 1,653,333 shares of Common Stock, representing approximately 6.3% of the outstanding Common Stock.

 

Services by virtue of being a general partner of Woodland Venture and Seneca, may be deemed to have shared power to vote and to dispose of 1,149,207 shares of Common Stock, representing approximately 4.4% of the outstanding Common Stock.

 

Woodland Partners has sole power to vote and to dispose of 309,316 shares of Common Stock, representing approximately 1.2% of the outstanding Common Stock.

 

Brookwood has sole power to vote and to dispose of 194,810 shares of Common Stock, representing approximately 0.7% of the outstanding Common Stock.

 

(c)     The following table sets forth the transactions in the securities of the Issuer by the Reporting Persons identified in Item 2 of this Schedule 13D which were effected during the prior sixty days from October 4, 2013:

Page 14 of 17
Name of Shareholder Sale Date Sales Price Per
Share
Number of
Shares of Common Stock
Sold
Woodland Venture Fund 8/8/13 $1.8500 25,000
Seneca Ventures 8/8/13 $1.8500 20,000
Irwin Lieber 8/8/13 $1.8305 15,400
Applegreen Partners 10/3/13 $1.6533 11,600
  10/4/13 $1.6601 95,206

 

(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)     On October 4, 2013, Applegreen Partners ceased to be the beneficial owner of more than five percent (5%) of the Common Stock.

Page 15 of 17

SIGNATURE

 

After reasonable inquiry and to the best of his/her/its knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete and correct.

 

Dated: October 9, 2013

  SENECA VENTURES
     
  By:  /s/ Barry Rubenstein
    Barry Rubenstein, a General Partner
     
  WOODLAND VENTURE FUND
     
  By: /s/ Barry Rubenstein
    Barry Rubenstein, a General Partner
     
  WOODLAND SERVICES CORP.
     
  By: /s/ Barry Rubenstein
    Barry Rubenstein, President
     
  /s/ Barry Rubenstein
    Barry Rubenstein
     
  /s/ Irwin Lieber
    Irwin Lieber
     
  /s/ Marilyn Rubenstein
    Marilyn Rubenstein
     
  /s/ Seth Lieber
    Seth Lieber
     
  /s/ Jonathan Lieber
    Jonathan Lieber
     
     
  WOODLAND PARTNERS
     
  By: /s/ Barry Rubenstein
    Barry Rubenstein, a General Partner
Page 16 of 17
  APPLEGREEN PARTNERS
     
  By:  /s/ Jonathan Lieber
    Jonathan Lieber, Managing General Partner
     
  BROOKWOOD PARTNERS, L.P.
     
  By: /s/ Barry Rubenstein
    Barry Rubenstein, a General Partner

 

 

 

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
Page 17 of 17