SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
ELITE PHARMACEUTICALS, INC.
----------------------------------------------
(Name of Issuer)
Common Stock
-----------------------------
(Title of Class of Securities)
28659T200
--------------
(CUSIP Number)
Edward B. Winslow, Esq.
Jacobs Persinger & Parker
77 Water Street, New York, New York 10005 212-344-1866
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 9, 1998
------------------------------------------------------
(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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box / /.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7(b) 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).
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jerome Belson
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH 791,200
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
113,900
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
791,200
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
113,900
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 905,100 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) /X/
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.02%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
2
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Maxine Belson
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ----
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
53,900
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
53,900
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 53,900 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) /X/
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
3
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The Jerome Belson Foundation
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) / /
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) WC
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION New York
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH 50,000
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
---
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
50,000
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
---
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 50,000 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
---------------------------------------------------------------------
4
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brianne Goldstein
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
7,000
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
7,000
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 7,000 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.07%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
5
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Toby Goldstein
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
5,000
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
5,000
---------------------------------------------------------------------
(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 (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.05%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
6
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Joshua Goldstein
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
5,000
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
5,000
---------------------------------------------------------------------
(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 (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.05%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
7
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Marjorie Belson
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
28,000
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
28,000
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 28,000 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
8
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jonathan Belson
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
7,500
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
7,500
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 7,500 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.08%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
9
SCHEDULE 13D
CUSIP No. 28659T200
---------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jaclyn Belson
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A (a) / /
MEMBER OF A GROUP (SEE INSTRUCTIONS) (b) /X/
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) SOURCE OF FUNDS (SEE INSTRUCTIONS) PF
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL / /
PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) Not applicable.
---------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION USA
---------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH ---
REPORTING PERSON ----------------------------------------------
WITH (8) SHARED VOTING POWER
7,500
----------------------------------------------
(9) SOLE DISPOSITIVE POWER
---
----------------------------------------------
(10) SHARED DISPOSITIVE POWER
7,500
---------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 7,500 shares
---------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
---------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.08%
---------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
---------------------------------------------------------------------
10
AMENDMENT NO. 1 TO SCHEDULE 13D
The Schedule 13D filed by Jerome Belson and Maxine Belson on October 6,
2000 is amended as follows:
ITEM 2. IDENTITY AND BACKGROUND is hereby amended as follows:
The following persons are added to the listing of persons filing this
Schedule 13D:
The Jerome Belson Foundation, which is a New York not-for-profit
corporation formerly known as The Joseph Belsky Foundation (the "Foundation"),
is organized for educational, charitable and scientific purposes. The
Foundation's address is 495 Broadway, New York, New York 10012. Jerome Belson
is the President of the Foundation. Certain information concerning the
directors and executive officers of the Foundation is set forth in Annex I
hereto.
Brianne Goldstein, who is a housewife and the daughter of Jerome Belson.
Her address is 22 A Putnam Green, Greenwich, CT 06830
Toby Goldstein, who is a public relations executive and a granddaughter of
Jerome Belson. Her address is 22 A Putnam Green, Greenwich, CT 06830.
Joshua Goldstein, who is an advertising executive and a grandson of Jerome
Belson. His address is 5516 South Robertson - Apt. A., New Orleans, LA 70115.
Marjorie Belson, who is a public school teacher and the daughter-in-law of
Jerome Belson. Her address is 315 Ocean Parkway - Apt. 1P, Brooklyn, NY 11218.
Jonathan Belson, who is a student and a grandson of Jerome Belson. His
address is 444 East 86th Street - Apt. 12G, New York, NY 10028.
Jaclyn Belson, who is a student and a granddaughter of Jerome Belson. Her
address is 444 East 86th Street - Apt. 12G, New York, NY 10028.
None of the Foundation, Brianne Goldstein, Toby Goldstein, Joshua
Goldstein, Marjorie Belson, Jonathan Belson, or Jaclyn Belson, has, and to the
best of the knowledge of the persons filing this Amendment, no person listed on
11
Annex I has, during the past five years been (i) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), or (ii) a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is 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.
Brianne Goldstein, Toby Goldstein, Joshua Goldstein, Marjorie Belson,
Jonathan Belson and Jaclyn Belson are United States citizens. The Foundation is
a New York not-for-profit corporation.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION is amended by adding
thereto the following:
The aggregate purchase price of the 535,200 shares of the Common Stock of
the Company and 256,000 warrants to purchase such Common Stock reported in this
Amendment as soley owned by Jerome Belson is $1,764,439, including brokerage
commissions, the source of which was his personal funds.
The aggregate purchase price of the 53,900 shares of the Common Stock of
the Company reported in this Amendment as owned by Maxine Belson is $289,020,
including brokerage commissions, the source of which was her personal funds.
The aggregate purchase price of the 50,000 shares of the Common Stock of
the Company reported in this Amendment as owned by the Foundation is $453,351,
including brokerage commissions, the source of which was its capital.
The aggregate purchase price of the 7,000 shares of the Common Stock of the
Company reported in this Amendment as owned by Brianne Goldstein is $51,663,
including brokerage commissions, the source of which was her personal funds.
The aggregate purchase price of the 5,000 shares of the Common Stock of the
Company reported in this Amendment as owned by Toby Goldstein is $39,076,
including brokerage commissions, the source of which was her personal
funds.
12
The aggregate purchase price of the 5,000 shares of the Common Stock of the
Company reported in this Amendment as owned by Joshua Goldstein is $32,284,
including brokerage commissions, the source of which was his personal funds.
The aggregate purchase price of the 28,000 shares of the Common Stock of
the Company reported in this Amendment as owned by Marjorie Belson is $112,465,
including brokerage commissions, the source of which was her personal funds.
The aggregate purchase price of the 5,000 shares of the Common Stock of the
Company reported in this Amendment as owned by Jonathan Belson is $45,615,
including brokerage commissions, the source of which was his personal funds.
The aggregate purchase price of the 7,500 shares of the Common Stock of the
Company reported in this Amendment as owned by Jaclyn Belson is $45,842,
including brokerage commissions, the source of which was her personal funds.
ITEM 4. PURPOSE OF TRANSACTION is amended to add thereto the following:
The purchases of the shares reported in this Amendment No. 1 to Schedule
13D were made for the purpose of making an investment in the Company.
Consistent with such purpose, Jerome Belson has had and expects to continue to
have discussions with management of the Company concerning the Company and the
investment of persons making this filing therein. Jerome Belson may also engage
in such discussions with other shareholders of the Company.
The persons making this filing may, in the future, purchase additional
shares of the Common Stock of the Company depending on the price of the shares
and circumstances at the time of such acquisitions, if any, are made.
Alternatively, any of the persons making this filing may at any time determine
to realize on such person's investment in the securities of the Company through
their sale.
The persons making this filing have no present plans or proposals to effect
one or more of the transactions enumerated in paragraphs (b) to (j) of Item 4 of
Schedule 13D.
13
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER is amended to add thereto the
following:
The following table sets forth the beneficial ownership as of the date of
filing of this Amendment of the Common Stock of the Company by the persons
filing this Amendment.
Percent of
Name No. of Shares Outstanding*
--------------------- ------------- ------------
Jerome Belson 905,100 (1) 9.02
The Jerome Belson
Foundation, Inc. 50,000 (2) 0.5
Maxine Belson 53,900 (3) 0.5
Brianne Goldstein 7,000 (3) 0.07
Toby Goldstein 5,000 0.05
Joshua Goldstein 5,000 (3) 0.05
Marjorie Belson 28,000 (3) 0.3
Jonathan Belson 7,500 (3) 0.08
Jaclyn Belson 7,500 (3) 0.08
______________
* Based upon 9,780,205 shares reported by the Company in its Quarterly Report
on Form 10-Q for the quarter ended September 30, 2002 to be outstanding as
of October 25, 2002, adjusted to give effect to the issuance of shares
underlying Jerome Belson's presently exercisable Common Stock purchase
warrants.
(1) Consists of 791,200 shares (including 256,000 shares issuable by the
Company under presently exercisable warrants) as to which Mr. Belson has
sole voting and investment power and 113,900 shares owned by his family
members. Mr. Belson has been granted revocable powers of attorney over such
113,900 shares and, consequently, may be deemed to share voting and
investment power over them.
(2) Jerome Belson is the President and a director of the Foundation and,
consequently, may be deemed to be a beneficial owner of such shares.
Neither the filing of this Schedule nor any of its contents shall be deemed
to be an admission that Mr. Belson owns any shares of the Company
beneficially owned by the Foundation for purposes of Section 13(d) of the
Securities Exchange Act of 1934 or for any other purpose.
14
(3) Voting and investment power over these shares is shared with Jerome Belson
by reason of the named owner's grant to him of a power of attorney covering
such shares.
Between September 1, 2002 and the date of this Amendment none of the
persons filing this Schedule 13D has effected any transactions in the Common
Stock of the Company except as set forth in Annex II hereto. All transactions
reported in Annex II were open market transactions.
Except as specifically stated in this Amendment, at the date of this
Amendment to the best of the knowledge of the persons filing this Schedule none
of the persons named in Annex I beneficially owns any Common Stock of the
Company or has engaged in any transaction in the Common Stock between September
1, 2002 and the date of this Amendment.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS is amended to add thereto the
following:
Exhibit 2 Written agreement relating to the filing of a joint
acquisition statement.
15
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: November 15, 2002
/s/ Jerome Belson
--------------------------------
Jerome Belson
/s/ Maxine Belson
--------------------------------
Maxine Belson
The Jerome Belson Foundation
By: /s/ Jerome Belson
--------------------------------
Jerome Belson, President
/s/ Brianne Goldstein
--------------------------------
Brianne Goldstein
/s/ Toby Goldstein
--------------------------------
Toby Goldstein
/s/ Joshua Goldstein
--------------------------------
Joshua Goldstein
/s/ Marjorie Belson
--------------------------------
Marjorie Belson
/s/ Jonathan Belson
--------------------------------
Jonathan Belson
/s/ Jaclyn Belson
--------------------------------
Jaclyn Belson
16
EXHIBIT 2
The undersigned hereby agree that the Schedule 13D and any amendments
thereto filed by Jerome Belson, The Jerome Belson Foundation, Maxine Belson,
Marjorie Belson, Brianne Goldstein, Joshua Goldstein, Toby Goldstein, Jaclyn
Belson, Jonathan Belson and Matthew Belson under the Securities Exchange Act of
1934, (the "Act") reporting the beneficial ownership of shares of Common Stock
of Elite Pharmaceuticals, Inc. may be filed with the Securities and Exchange
Commission pursuant to Rule 13d-1(k)(1) under the Act on behalf of the
undersigned.
Dated: November 15, 2002
/s/ Jerome Belson
--------------------------------
Jerome Belson
/s/ Maxine Belson
--------------------------------
Maxine Belson
The Jerome Belson Foundation
By: /s/ Jerome Belson
--------------------------------
Jerome Belson, President
/s/ Brianne Goldstein
--------------------------------
Brianne Goldstein
/s/ Toby Goldstein
--------------------------------
Toby Goldstein
/s/ Joshua Goldstein
--------------------------------
Joshua Goldstein
s/ Marjorie Belson
--------------------------------
Marjorie Belson
/s/ Jonathan Belson
--------------------------------
Jonathan Belson
/s/ Jaclyn Belson
--------------------------------
Jaclyn Belson
17
ANNEX I
The following is a list of the officers of The Jerome Belson Foundation:
PRINCIPAL OCCUPATION
NAME AND POSITION AND BUSINESS ADDRESS
Jerome Belson Chairman of the Board of Jerome
- President Belson Associates, Inc.
495 Broadway
New York, New York 10012
Maxine Belson Housewife
- Vice President 197 Rugby Road
Brooklyn, New York 11226
I. Victor Belson Attorney
- Vice President 7531 Monte Verde Lane
West Palm Beach, Florida 33412
Brianne Goldstein Housewife
- Treasurer 22 A Putnam Green
Greenwich, CT 06830
Ruth Kessler Executive Secretary
- Secretary Belson Associates, Inc.
495 Broadway
New York, New York 10012
All of the above named individuals are citizens of the United States.
18
ANNEX II
Date Transaction Price Shares
--------------- --------------- ------ ------
Jerome Belson
-------------
10/04/02 Purchase $3.091 2,600
10/11/02 Purchase 3.060 5,000
10/24/02 Purchase 2.993 5,000
Jonathan Belson
---------------
10/02/02 Purchase 2.898 1,000
10/03/02 Purchase 3.027 300
10/03/02 Purchase 3.017 1,200
Jaclyn Belson
---------------
9/27/02 Purchase 3.161 1,000
9/27/02 Purchase 3.081 700
9/27/02 Purchase 3.152 500
10/02/02 Purchase 2.917 300
19