sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 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. 4)(1)
FALCONSTOR SOFTWARE, INC.
--------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
--------------------------------------------------------------------------------
(Title of class of securities)
306137 10 0
--------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
--------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
January 11, 2006
--------------------------------------------------------------------------------
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box |_|.
NOTE. The 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 pages)
(Page 1 of 35 Pages)
--------
(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).
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 2 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 484,051 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
41,008 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
484,051 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
41,008 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
525,059 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 3 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 41,008 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
484,051 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
41,008 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
484,051 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
525,059 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 4 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners II, 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 180,089 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
180,089 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
180,089 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 5 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners III, 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,370,015 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
592,821 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,370,015 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
592,821 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 6 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Foreign Partners III, 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 293,012 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
1,669,824 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
293,012 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,669,824 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 7 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Associates III, 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 299,809 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
1,663,027 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
299,809 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,663,027 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 8 of 35 Pages
-------------------------- -----------------------
================================================================================
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,907,205 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
2,667,984 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,907,205 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,667,984 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,189 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 9 of 35 Pages
-------------------------- -----------------------
================================================================================
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 489,680 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
2,667,984 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
489,680 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,667,984 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,157,664 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 10 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nancy Casey
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 94,744 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
1,962,836 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
94,744 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,962,836 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,057,580 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 11 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME 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* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 259,868 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
259,868 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
259,868 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 12 of 35 Pages
-------------------------- -----------------------
================================================================================
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*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 79,622 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
2,942,852 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
79,622 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,942,852 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,022,474 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 13 of 35 Pages
-------------------------- -----------------------
================================================================================
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*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 12,500 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
2,942,852 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
12,500 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,942,852 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,955,352 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 14 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME 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* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 642,453 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
642,453 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
642,453 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 15 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME 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* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 743,513 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
743,513 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
743,513 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 16 of 35 Pages
-------------------------- -----------------------
================================================================================
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
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 692,983 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
692,983 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
692,983 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 17 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME 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* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 395,217 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
395,217 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
395,217 sharess
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 18 of 35 Pages
-------------------------- -----------------------
================================================================================
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*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,300,903 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
5,142,150 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,300,903 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,142,150 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,443,053 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 19 of 35 Pages
-------------------------- -----------------------
================================================================================
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*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,258 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
2,474,166 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,258 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,474,166 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,475,424 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 20 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Dana Lieber Moriarty
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 5,000 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,000 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 21 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Pam 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 5,000 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
5,000 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 22 of 35 Pages
-------------------------- -----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brooke 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 10,000 shares
OWNED BY EACH -----------------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
10,000 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 23 of 35 Pages
-------------------------- -----------------------
The following constitutes Amendment No. 4 to the Schedule 13D filed by the
undersigned (the "Schedule 13D"). Except as specifically amended by this
Amendment No. 4, the Schedule 13D remains in full force and effect. Capitalized
terms used in this Amendment No. 4 but not defined herein shall have the meaning
set forth in the Schedule 13D.
Items 5(a) and (b) are hereby amended to read in their entirety as follows:
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The following table sets forth the aggregate number and percentage
(based on 47,719,498 shares of Common Stock outstanding as of October 26, 2005,
as reported by the Issuer in its quarterly report for the period ending
September 30, 2005) of beneficial ownership for each of the Reporting Persons.
Percentage of
Shares of Common Shares of Common
Stock Stock
Name Beneficially Owned Beneficially Owned
---- ------------------ ------------------
Wheatley Partners, L.P.(1) 525,059 1.1%
Wheatley Foreign Partners, L.P.(2) 525,059 1.1%
Wheatley Partners II, L.P. 180,089 0.4%
Wheatley Partners III, L.P.(3) 1,962,836 4.1%
Wheatley Foreign Partners III, L.P.(4) 1,962,836 4.1%
Wheatley Associates III, L.P.(5) 1,962,836 4.1%
Wheatley Partners LLC (6) 525,059 1.1%
Wheatley Partners III LLC(7) 1,962,836 4.1%
Irwin Lieber(8) 4,580,189 9.6%
Barry Fingerhut(9) 3,157,664 6.6%
Nancy Casey(10) 2,057,580 4.3%
Applegreen Partners 259,868 0.5%
Seth Lieber(11) 3,022,474 6.3%
Jonathan Lieber(12) 2,955,352 6.2%
Seneca Ventures 642,453 1.3%
Woodland Venture Fund 743,513 1.6%
Woodland Partners 692,983 1.5%
Brookwood Partners, L.P. 395,217 0.8%
Woodland Services Corp.(13) 1,385,966 2.9%
Barry Rubenstein(14) 6,443,053 13.5%
Marilyn Rubenstein(15) 2,475,424 5.2%
Dana Lieber Moriarty 5,000 0.01%
Pam Fingerhut 5,000 0.01%
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 24 of 35 Pages
-------------------------- -----------------------
Brooke Fingerhut 10,000 0.02%
----------------------
(1) Consists of (a) 484,051 shares of Common Stock held by Wheatley and (b)
41,008 shares of Common Stock held by Wheatley Foreign. Wheatley
disclaims beneficial ownership of the securities held by Wheatley
Foreign.
(2) Consists of (a) 41,008 shares of Common Stock held by Wheatley Foreign
and (b) 484,051 shares of Common Stock held by Wheatley. Wheatley
Foreign disclaims beneficial ownership of the securities held by
Wheatley.
(3) Consists of (a) 1,370,015 shares of Common Stock held by Wheatley III,
(b) 293,012 shares of Common Stock held by Wheatley Foreign III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
III disclaims beneficial ownership of the securities held by Wheatley
Foreign III and Wheatley Associates.
(4) Consists of (a) 293,012 shares of Common Stock held by Wheatley Foreign
III, (b) 1,370,015 shares of Common Stock held by Wheatley III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
Foreign III disclaims beneficial ownership of the securities held by
Wheatley III and Wheatley Associates.
(5) Consists of (a) 299,809 shares of Common Stock held by Wheatley
Associates, (b) 1,370,015 shares of Common Stock held by Wheatley III
and (c) 293,012 shares of Common Stock held by Wheatley Foreign III.
Wheatley Associates disclaims beneficial ownership of the securities
held by Wheatley III and Wheatley Foreign III.
(6) Consists of (a) 484,051 shares of Common Stock held by Wheatley and (b)
41,008 shares of Common Stock held by Wheatley Foreign. Wheatley LLC
disclaims beneficial ownership of the securities held by Wheatley and
Wheatley Foreign, except to the extent of its respective equity
interests therein.
(7) Consists of (a) 1,370,015 shares of Common Stock held by Wheatley III,
(b) 293,012 shares of Common Stock held by Wheatley Foreign III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
III LLC disclaims beneficial ownership of the securities held by
Wheatley III, Wheatley Foreign III and Wheatley Associates, except to
the extent of its respective equity interests therein.
(8) Consists of (a) 1,907,205 shares of Common Stock held by Irwin Lieber,
(b) 5,000 shares of Common Stock held by Mr. Lieber's daughter, (c)
484,051 shares of Common Stock held by Wheatley, (d) 41,008 shares of
Common Stock held by Wheatley Foreign, (e) 180,089 shares of Common
Stock held by Wheatley II, (f) 1,370,015 shares of Common Stock held by
Wheatley III, (g) 293,012 shares of Common Stock held by Wheatley
Foreign III, and (h) 299,809 shares of Common Stock held by Wheatley
Associates. Mr. Lieber disclaims beneficial ownership of the securities
held by his daughter, Wheatley, Wheatley Foreign, Wheatley II, Wheatley
III, Wheatley Foreign III and Wheatley Associates, except to the extent
of his respective equity interests therein.
(9) Consists of (a) 469,680 shares of Common Stock held by Barry Fingerhut,
(b) 20,000 shares of Common Stock held by Longboat Key Associates, (c)
484,051 shares of Common Stock held by Wheatley, (d) 41,008 shares of
Common Stock held by Wheatley Foreign, (e) 180,089 shares of Common
Stock held by Wheatley II, (f) 1,370,015 shares of Common Stock held by
Wheatley III, (g) 293,012 shares of Common Stock held by Wheatley
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 25 of 35 Pages
-------------------------- -----------------------
Foreign III, and (h) 299,809 shares of Common Stock held by Wheatley
Associates. Mr. Fingerhut disclaims beneficial ownership of the
securities held by Wheatley, Wheatley Foreign, Wheatley II, Wheatley
III, Wheatley Foreign III and Wheatley Associates, except to the extent
of his respective equity interests therein.
(10) Consists of (a) 94,744 shares of Common Stock held by Nancy Casey and
her husband, as joint tenants, (b) 1,370,015 shares of Common Stock
held by Wheatley III, (c) 293,012 shares of Common Stock held by
Wheatley Foreign III, and (d) 299,809 shares of Common Stock held by
Wheatley Associates. Ms. Casey disclaims beneficial ownership of the
securities held by Wheatley III, Wheatley Foreign III and Wheatley
Associates, except to the extent of her respective equity interests
therein.
(11) Consists of (a) 79,622 shares of Common Stock held by Seth Lieber, (b)
15,000 shares of Common Stock held by the Irwin Lieber 1996 Grandfather
Trust (the "Grandfather Trust") for which Seth Lieber is a co-trustee,
(c) 484,051 shares of Common Stock held by Wheatley, (d) 41,008 shares
of Common Stock held by Wheatley Foreign, (e) 180,089 shares of Common
Stock held by Wheatley II, (f) 1,370,015 shares of Common Stock held by
Wheatley III, (g) 293,012 shares of Common Stock held by Wheatley
Foreign III, and (h) 299,809 shares of Common Stock held by the
Grandfather Trust, Wheatley Associates and (i) 259,868 shares of Common
Stock held by Applegreen. Mr. Lieber disclaims beneficial ownership of
the securities held by the Grandfather Trust, Wheatley, Wheatley
Foreign, Wheatley II, Wheatley III, Wheatley Foreign III, Wheatley
Associates and Applegreen, except to the extent of his respective
equity interests therein.
(12) Consists of (a) 12,500 shares of Common Stock held by Jonathan Lieber,
(b) 15,000 shares of Common Stock held by the Grandfather Trust, for
which Jonathan Lieber is a co-trustee, (c) 484,051 shares of Common
Stock held by Wheatley, (d) 41,008 shares of Common Stock held by
Wheatley Foreign, (e) 180,089 shares of Common Stock held by Wheatley
II, (f) 1,370,015 shares of Common Stock held by Wheatley III, (g)
293,012 shares of Common Stock held by Wheatley Foreign III, (h)
299,809 shares of Common Stock held by Wheatley Associates and (i)
259,868 shares of Common Stock held by Applegreen. Mr. Lieber disclaims
beneficial ownership of the securities held by the Grandfather Trust,
Wheatley, Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign
III, Wheatley Associates and Applegreen, except to the extent of his
respective equity interests therein.
(13) Consists of (a) 642,453 shares of Common Stock held by Seneca and (b)
743,513 shares of Common Stock held by Woodland Venture. Woodland
Services disclaims beneficial ownership of the securities held by
Seneca and Woodland Venture, except to the extent of its respective
equity interests therein.
(14) Consists of (a) 1,300,903 shares of Common Stock held by Barry
Rubenstein, (b) 484,051 shares of Common Stock held by Wheatley, (c)
41,008 shares of Common Stock held by Wheatley Foreign, (d) 180,089
shares of Common Stock held by Wheatley II, (e) 1,370,015 shares of
Common Stock held by Wheatley III, (f) 293,012 shares of Common Stock
held by Wheatley Foreign III, (g) 299,809 shares of Common Stock held
by Wheatley Associates, (h) 642,453 shares of Common Stock held by
Seneca, (i) 743,513 shares of Common Stock held by Woodland Venture,
(j) 692,983 shares of Common Stock held by Woodland Partners and (k)
395,217 shares of Common Stock held by Brookwood. Mr. Rubenstein
disclaims beneficial ownership of the securities held by Wheatley,
Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign III,
Wheatley Associates, Seneca, Woodland Venture, Woodland Partners and
Brookwood, except to the extent of his respective equity interests
therein.
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 26 of 35 Pages
-------------------------- -----------------------
(15) Consists of (a) 1,258 shares of Common Stock held by Marilyn
Rubenstein, (b) 642,453 shares of Common Stock held by Seneca, (c)
743,513 shares of Common Stock held by Woodland Venture, (d) 692,983
shares of Common Stock held by Woodland Partners and (e) 395,217 shares
of Common Stock held by Brookwood. Mrs. Rubenstein disclaims beneficial
ownership of the securities held by Seneca, Woodland Venture, Woodland
Partners and Brookwood, except to the extent of her respective equity
interests therein.
(b) Wheatley has sole power to vote and dispose of 484,051 shares
of Common Stock, representing approximately 1.0% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
41,008 shares of Common Stock, representing approximately 0.1% of the
outstanding shares of Common Stock.
Wheatley Foreign has sole power to vote and dispose of 41,008
shares of Common Stock, representing approximately 0.1% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 484,051 shares of Common Stock, representing approximately 1.0% of
the outstanding shares of Common Stock.
By virtue of being the general partner of Wheatley and a general
partner in Wheatley Foreign, Wheatley LLC may be deemed to have shared power to
vote and dispose of 525,059 shares of Common Stock, representing approximately
1.1% of the outstanding shares of Common Stock.
Wheatley II has sole power to vote and dispose of 180,089 shares
of Common Stock, representing approximately 0.4% of the outstanding shares of
Common Stock.
Wheatley III has sole power to vote and dispose of 1,370,015
shares of Common Stock, representing approximately 2.9% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 592,281 shares of Common Stock, representing approximately 1.2% of
the outstanding shares of Common Stock.
Wheatley Foreign III has sole power to vote and dispose of
293,012 shares of Common Stock, representing approximately 0.6% of the
outstanding shares of Common Stock and may be deemed to have shared power to
vote and dispose of 1,669,824 shares of Common Stock, representing approximately
3.5% of the outstanding shares of Common Stock.
Wheatley Associates has sole power to vote and dispose of 299,809
shares of Common Stock, representing approximately 0.6% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 1,663,027 shares of Common Stock, representing approximately 3.5% of
the outstanding shares of Common Stock.
By virtue of being the general partner of Wheatley III, Wheatley
Foreign III and Wheatley Associates, Wheatley III LLC may be deemed to have
shared power to vote and dispose of 1,962,836 shares of Common Stock,
representing approximately 4.1% of the outstanding shares of Common Stock.
Irwin Lieber has sole power to vote and dispose of 1,907,205 and
shares of Common Stock, representing approximately 4.0% of the outstanding
shares of Common Stock. Mr. Lieber is a member and an officer of Wheatley LLC
and Wheatley III LLC and a general partner of Wheatley II and has trading
authorization over the 5,000 shares of Common Stock held by Dana Lieber
Moriarty, his daughter. As a result, Mr. Lieber may be deemed to have shared
power to vote 2,667,984 shares of Common Stock and shared power to dispose of
2,672,984 shares of Common Stock, representing approximately 5.6% of the
outstanding shares of Common Stock.
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 27 of 35 Pages
-------------------------- -----------------------
Barry Fingerhut has sole power to vote and dispose of 489,680
shares of Common Stock, representing approximately 1.0% of the outstanding
shares of Common Stock. By virtue of being a member and an officer of Wheatley
LLC and Wheatley III LLC and a general partner of Wheatley II, Mr. Fingerhut may
be deemed to have shared power to vote and dispose of 2,667,984 shares of Common
Stock, representing approximately 5.6% of the outstanding shares of Common
Stock.
Nancy Casey has shared power to vote and dispose of 94,744 shares
of Common Stock, representing approximately 0.2% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley III LLC,
Ms. Casey may also be deemed to have shared power to vote and dispose of
1,962,836 shares of Common Stock, representing approximately 4.1% of the
outstanding shares of Common Stock.
Applegreen has sole power to vote and dispose of 259,868 shares
of Common Stock, representing approximately 0.5% of the outstanding shares of
Common Stock.
Seth Lieber has sole power to vote and dispose of 79,622 shares
of Common Stock, representing approximately 0.2% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley LLC and
Wheatley III LLC, a general partner of Wheatley II and Applegreen, and a
co-trustee of the Grandfather Trust, Seth Lieber may be deemed to have shared
power to vote and dispose of 2,942,852 shares of Common Stock, representing
approximately 6.2% of the outstanding shares of Common Stock.
Jonathan Lieber has sole power to vote and dispose of 12,500
shares of Common Stock, representing less than 0.1% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley LLC and
Wheatley III LLC, a general partner of Wheatley II, the managing general partner
of Applegreen, and a co-trustee of the Grandfather Trust, Jonathan Lieber may be
deemed to have shared power to vote and dispose of 2,942,852 shares of Common
Stock, representing approximately 6.2% of the outstanding shares of Common
Stock.
Seneca has sole power to vote and dispose of 642,453 shares of
Common Stock, representing approximately 1.3% of the outstanding shares of
Common Stock.
Woodland Venture has sole power to vote and dispose of 743,513
shares of Common Stock, representing approximately 1.6% of the outstanding
shares of Common Stock.
Woodland Partners has sole power to vote and dispose of 692,983
shares of Common Stock, representing 1.5% of the outstanding shares of Common
Stock.
Brookwood has sole power to vote and dispose of 395,217 shares of
Common Stock, representing 0.8% of the outstanding shares of Common Stock.
By virtue of being a general partner of Seneca and Woodland
Venture, Woodland Services may be deemed to have shared power to vote and
dispose of 1,385,966 shares of Common Stock, representing approximately 2.9% of
the outstanding shares of Common Stock.
Barry Rubenstein has sole power to vote and dispose of 1,300,903
shares of Common Stock, representing approximately 2.7% of the outstanding
shares of Common Stock. By virtue of being a member and an officer of Wheatley
LLC and Wheatley III LLC and a general partner of Wheatley II, Seneca, Woodland
Venture, Woodland Partners and Brookwood, Mr. Rubenstein may be deemed to have
shared power to vote and dispose of 5,142,150 shares of Common Stock,
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 28 of 35 Pages
-------------------------- -----------------------
representing approximately 10% of the outstanding shares of Common Stock. Does
not include securities held by Marilyn Rubenstein, the wife of Mr. Rubenstein.
Marilyn Rubenstein has sole power to vote and dispose of 1,258
shares of Common Stock, representing less than one percent of the outstanding
shares of Common Stock. By virtue of being a general partner of Woodland
Partners and Brookwood and an officer of Woodland Services, Mrs. Rubenstein may
be deemed to have shared power to vote and dispose of 2,474,166 shares of Common
Stock, representing approximately 5.2% of the outstanding shares of Common
Stock. Does not include securities held by Barry Rubenstein, the husband of Mrs.
Rubenstein.
Item 5(c) is amended in its entirety to read as follows:
(c) The following table sets forth 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 during the past sixty days,
which consists of the following bona-fide-gifts:
Name of Sale Number of Shares Sales Price per
Stockholder Date Gifted Share($)
----------- ---- ------ --------
Barry Rubenstein 01/11/06 100,000 0(1)
11/15/05 100,000 0(1)
Irwin Lieber 12/21/05 12,500 0(2)
------------------------
(1) These shares were donated by Mr. Rubenstein to North Shore-LIJ Health System
Foundation.
(2) Mr. Lieber gifted 2,500 shares to Seth Lieber, 2,500 shares to his daughter,
Dana Lieber Moriarty, for which he has trading authorization and 7,500 shares to
the Grandfather Trust for the benefit of his 3 minor grandchildren.
Item 7 is amended to include the following:
Item 7. MATERIALS TO BE FILED AS EXHIBITS.
The following documents are filed herewith:
(d) Joint Filing Agreement dated February 28, 2006 by and among
Wheatley Partners, L.P., Wheatley Foreign Partners, L.P., Wheatley Partners II,
L.P., Wheatley Partners III, L.P., Wheatley Foreign Partners III, L.P., Wheatley
Associates III, L.P., Seneca Ventures, Woodland Venture Fund, Woodland Partners,
Brookwood Partners, L.P., Applegreen Partners, Barry Rubenstein, Marilyn
Rubenstein, Irwin Lieber, Seth Lieber, Jonathan Lieber, Barry Fingerhut, Nancy
Casey, Dana Lieber Moriarty, Pam Fingerhut and Brooke Fingerhut.
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 29 of 35 Pages
-------------------------- -----------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: February 28, 2006 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, President
WHEATLEY PARTNERS II, L.P.
By: WHEATLEY PARTNERS II, L.P.
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, a General Partner
WHEATLEY PARTNERS III, L.P.
By: WHEATLEY PARTNERS III, L.P.
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, President
WHEATLEY ASSOCIATES III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By: /s/ Irwin Lieber
-----------------------------------
Irwin Lieber, President
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 30 of 35 Pages
-------------------------- -----------------------
/s/ Barry Fingerhut
---------------------------------------
Barry Fingerhut
/s/ Nancy Casey
---------------------------------------
Nancy Casey
/s/ Seth Lieber
---------------------------------------
Seth Lieber
APPLEGREEN PARTNERS
By: /s/ Jonathan Lieber
-----------------------------------
Jonathan Lieber
Managing General Partner
/s/ Jonathan Lieber
---------------------------------------
Jonathan Lieber
SENECA VENTURES
By: /s/ Barry Rubenstein
-----------------------------------
Barry Rubenstein
a General Partner
WOODLAND VENTURE FUND
By: /s/ Barry Rubenstein
-----------------------------------
Barry Rubenstein
a General Partner
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
-----------------------------------
Barry Rubenstein
a General Partner
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 31 of 35 Pages
-------------------------- -----------------------
BROOKWOOD PARTNERS, L.P.
By: /s/ Barry Rubenstein
-----------------------------------
Barry Rubenstein
a General Partner
/s/ Barry Rubenstein
---------------------------------------
Barry Rubenstein
/s/ Marilyn Rubenstein
---------------------------------------
Marilyn Rubenstein
/s/ Dana Lieber Moriarty
---------------------------------------
Dana Lieber Moriarty
/s/ Pam Fingerhut
---------------------------------------
Pam Fingerhut
/s/ Brooke Fingerhut
---------------------------------------
Brooke Fingerhut
-------------------------- -----------------------
CUSIP No. 74833H 10 0 13D Page 32 of 35 Pages
-------------------------- -----------------------
EXHIBIT INDEX
The following document is filed herewith:
(d) Joint Filing Agreement dated February 28, 2006 by and among
Wheatley Partners, L.P., Wheatley Foreign Partners, L.P., Wheatley Partners II,
L.P., Wheatley Partners III, L.P., Wheatley Foreign Partners III, L.P., Wheatley
Associates III, L.P., Seneca Ventures, Woodland Venture Fund, Woodland Partners,
Brookwood Partners, L.P., Applegreen Partners, Barry Rubenstein, Marilyn
Rubenstein, Irwin Lieber, Seth Lieber, Jonathan Lieber, Barry Fingerhut, Nancy
Casey, Dana Lieber Moriarty, Pam Fingerhut and Brooke Fingerhut.
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CUSIP No. 74833H 10 0 13D Page 33 of 35 Pages
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EXHIBIT D
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13D,
Amendment No. 4 dated February 28, 2006 with respect to the shares of common
stock, $0.01 par value, of FalconStor Software, Inc. and any further amendments
thereto executed by each or any of us shall be filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(f) under the
Securities Exchange Act of 1934, as amended.
This Agreement may be executed in separate counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument.
Dated: February 28, 2006 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By: /s/ Irwin Lieber
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Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By: /s/ Irwin Lieber
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Irwin Lieber, President
WHEATLEY PARTNERS II, L.P.
By: /s/ Irwin Lieber
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Irwin Lieber, a General Partner
WHEATLEY PARTNERS III, L.P.
By: WHEATLEY PARTNERS III, L.P.,
the General Partner
By: /s/ Irwin Lieber
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Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By: /s/ Irwin Lieber
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Irwin Lieber, President
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CUSIP No. 74833H 10 0 13D Page 34 of 35 Pages
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/s/ Irwin Lieber
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Irwin Lieber, President
WHEATLEY ASSOCIATES III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By: /s/ Irwin Lieber
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Irwin Lieber, President
By: /s/ Irwin Lieber
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Irwin Lieber
/s/ Barry Fingerhut
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Barry Fingerhut
/s/ Nancy Casey
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Nancy Casey
/s/ Seth Lieber
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Seth Lieber
APPLEGREEN PARTNERS
By: /s/ Jonathan Lieber
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Jonathan Lieber
Managing General Partner
/s/ Jonathan Lieber
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Jonathan Lieber
SENECA VENTURES
By: /s/ Barry Rubenstein
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Barry Rubenstein
a General Partner
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CUSIP No. 74833H 10 0 13D Page 35 of 35 Pages
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WOODLAND VENTURE FUND
By: /s/ Barry Rubenstein
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Barry Rubenstein
a General Partner
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
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Barry Rubenstein
a General Partner
BROOKWOOD PARTNERS, L.P.
By: /s/ Barry Rubenstein
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Barry Rubenstein
a General Partner
/s/ Barry Rubenstein
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Barry Rubenstein
/s/ Marilyn Rubenstein
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Marilyn Rubenstein
/s/ Dana Lieber Moriarty
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Dana Lieber Moriarty
/s/ Pam Fingerhut
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Pam Fingerhut
/s/ Brooke Fingerhut
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Brooke Fingerhut