SC 13D: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities
Published on October 5, 1999
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
ACCESS PHARMACEUTICALS, INC.
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE
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(TITLE OF CLASS OF SECURITIES)
00431M100
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(CUSIP Number)
Adam Eilenberg, Esq.
Ehrenreich Eilenberg Krause & Zivian LLP
11 East 44th Street, 11th Floor
New York, NY 10017
(212) 986-9700
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 20, 1999
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(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
* THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON'S
INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND
FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER
DISCLOSURES PROVIDED IN A PRIOR COVER PAGE.
THE INFORMATION REQUIRED ON THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED
TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF
1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT
BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE
NOTES).
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Howard P. Milstein
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 738,588
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 738,588
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Edward L. Milstein
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Lloyd Constantine
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Christine Ferer
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Marcia Riklis
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Linda Sincavage
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Eleanore Sniderman
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
CUSIP No. 00431M100 13D
1 Name of Reporting Persons Marvin Sniderman
S.S. or I.R.S. Identification No.
of Above Person
________________________________________________________________________________
2 Check the Appropriate Box If a Member (A) [X]
of a Group (b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds OO,PF
________________________________________________________________________________
5 Check Box If Disclosure of Legal
Proceedings is Required Pursuant [_]
to Items 2(D) or 2(E)
________________________________________________________________________________
6 Citizenship or Place of Organization USA
________________________________________________________________________________
7 Sole Voting Power 0
Number of Shares
Beneficially _________________________________________________________________
Owned 8 Shared Voting Power 0
by Each
Reporting
Person With _________________________________________________________________
9 Sole Dispositive Power 0
_________________________________________________________________
10 Shared Dispositive Power 0
________________________________________________________________________________
11 Aggregate Amount Beneficially 738,588
Owned by Each Reporting Person
________________________________________________________________________________
12 Check Box If the Aggregate Amount [_]
in Row (11) Excludes Certain
Shares
________________________________________________________________________________
13 Percent of Class Represented 12.2%
Amount in Row (11)
________________________________________________________________________________
14 Type of Reporting Person IN
-3-
Item 1. Security and Issuer.
The title of the class of equity securities to which this statement relates
is the common stock, $.01 par value per share (the "Common Stock"), of Access
Pharmaceuticals, Inc., a Delaware corporation (the "Company"). The principal
executive offices of the Company are located at 2600 Stemmons Freeway, Suite
176, Dallas, Texas 75207.
Item 2. Identity and Background.
(a) The Reporting Persons are Howard P. Milstein, Edward L. Milstein,
Lloyd Constantine, Christine Ferrer, Marcia Riklis, Linda Sincavage,
Marvin Sniderman, and Eleanore Sniderman.
(b) The business address of Messrs. Milstein is c/o, Douglas Elliman
Commercial, 575 Madison Avenue, New York, New York 10022; the address
of Lloyd Constantine is 10 West 66th Street, New York, New York 10022;
the address of Christine Ferer is 1107 Fifth Avenue, New York, N Y
10128; the address of Marcia Riklis is 895 Park Avenue, New York, NY
10022; the address of Linda Sincavage is 123-40 83rd Avenue, Kew
Gardens, NY 11415; and the address of Mr. and Ms. Sniderman is 5633
Callowhill St., Pittsburgh, PA 15206.
(c) Each of the reporting persons is a private investor.
(d) None of the Reporting Persons has been convicted during the past five
years in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) None of the Reporting Persons has been, during the last five years, a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and has not and is not subject to a judgment,
decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
(f) All of the Reporting Persons are citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
In connection with a private placement of Common Stock of the Company in
June 1998, the Reporting Persons acquired 166,666 shares of Common Stock at a
price of $3.00 per share. The funds for the purchase were personal and the
amount was $500,000.
In connection with a private placement of Common Stock of the Company on
July 20, 1999, the Reporting Persons acquired 500,000 shares of Common Stock at
a price of $2.00 per share. The funds for the purchase were personal and the
amount was $1,000,000.
In connection with the July 1999 merger between the Company and Virolgix
Corporation ("Virologix"), Mr. Milstein received 71,922 shares of Common Stock
in exchange for his shares of Virologix common and preferred stock.
Item 4. Purpose of Transaction.
Such acquisitions of securities were made for investment purposes.
The Reporting Persons have no plans or proposals which would relate to or
would result in:
(a) the acquisition by any person of additional securities of the Company,
or the disposition of securities of the Company;
(b) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company;
(c) a sale or transfer of a material amount of assets of the Company;
(d) any change in the present board of directors or management of the
Company;
(e) any material change in the present capitalization or dividend policy
of the Company;
(f) any other material change in the Company's business or corporate
structure;
(g) changes in the Company's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the Company by any person;
(h) causing a class of securities of the Company to be delisted from a
national securities exchange or cease to be authorized to be quoted on
an inter-dealer quotation system of a registered national securities
association;
(i) a class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Act of 1933; or
(j) any action similar to those enumerated above.
Item 5. Interest in Securities of the Issuer.
See Items 7 through 11 on the cover page
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Mr. Howard Milstein and the Issuer entered into subscription agreements and
registration rights agreements in connection with the purchases of the shares of
Common Stock. In addition, the Reporting Persons entered into an agreement among
themselves regarding their ownership of the shares of Common Stock. The
agreement provides for the beneficial ownership of shares by the members of the
group as follows: Mr. Howard Milstein: 185,544 shares; Mr. Edward Milstein:
185,544 shares; Mr. Constantine: 25,000 shares; Mr. Sniderman: 66,667 shares;
Ms. Ferer: 83,333 shares; Ms. Riklis: 125,000 shares; Ms. Sniderman: 62,500
shares; and Ms. Sincavage: 5,000 shares. The agreement also provides that Mr.
Howard Milstein has sole voting power and dispositive power with regard to all
of the shares of Common Stock.
Item 7. Materials to be Filed as Exhibits.
Agreement Among the Reporting Persons, dated as of July 20, 1999.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
correct and complete.
Dated: As of July 20, 1999
September 30, 1999 /s/ Howard P. Milstein
----------------------------
Howard P. Milstein