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Strategies & Market Trends : ICCSA -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (92)	5/7/1999 11:48:00 AM
From: RockyBalboa	Respond to of 361

I'm in with some more at 12 1/2. IS.com

To: Dale Baker who wrote (92)	5/7/1999 9:13:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 361

Anyone familiar with this person? >>>>>>>>>> Form SC 13G for INTERNET COMMERCE CORP filed on Apr 26 1999 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. __ )* Internet Commerce Corporation -------------------------------------------------------------------------------- (Name of Issuer) Class A Common Stock, $.01 par value per share -------------------------------------------------------------------------------- (Title of Class of Securities) 46059F 10 9 -------------------------------------------------------------------------------- (CUSIP Number) April 20, 1999 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed [ ] Rule 13d - 1(b) [x] Rule 13d - 1(c) [ ] Rule 13d - 1(d) *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 13G ------------------------------------- ------------------------- CUSIP NO. 46059F 109 PAGE 2 OF 5 PAGES -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Benny Shabtai -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Citizen of the United States of America and of Israel -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 123,500 BENEFICIALLY ------------------------------------ OWNED BY 6 SHARED VOTING POWER EACH REPORT- -0- ING PERSON ------------------------------------ WITH 7 SOLE DISPOSITIVE POWER 123,500 ------------------------------------ 8 SHARED DISPOSITIVE POWER -0- ------------------------------------ -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 123,500 -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.8% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN -------------------------------------------------------------------------------- SCHEDULE 13G ---------------------- ------------------- CUSIP NO. 46059F 109 PAGE 3 OF 5 PAGES ---------------------- ------------------- ITEM 1(a) NAME OF ISSUER: Internet Commerce Corporation ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 805 Third Avenue New York, New York 10022 ITEM 2(a) NAME OF PERSON FILING: Benny Shabtai ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE: 587 Fifth Avenue, New York, New York 10007 ITEM 2(c) CITIZENSHIP: Citizen of the United States of America and of Israel ITEM 2(d) TITLE OF CLASS OF SECURITIES: Class A Common Stock, $.01 par value per share ITEM 2(e) CUSIP NUMBER: 46059F 10 9 ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO 13D-1(b), OR 13D-2(b), CHECK WHETHER THE PERSON FILING IS A: Not applicable. SCHEDULE 13G ---------------------- ------------------- CUSIP NO. 46059F 109 PAGE 4 OF 5 PAGES ---------------------- ------------------- ITEM 4 OWNERSHIP: (a) Amount Beneficially Owned: 123,500 shares(1) (b) Percent of Class: 8.8%(2) (c) Number of Shares as to which such person has: (i) sole power to vote or direct the vote: 123,500 shares(1) (ii) shared power to vote or direct the vote: 0 shares (iii) sole power to dispose or to direct the disposition of: 123,500 shares(1) (iv) shared power to dispose or to direct the disposition of: 0 shares ------------------- (1) Includes 100,000 shares of Class A Common Stock issuable on conversion of 500 shares of Series A Convertible Redeemable Preferred Stock (the "Series A Preferred Stock") held by the reporting person. The number of shares of Class A Common Stock issuable on conversion of the Series A Preferred Stock is subject to adjustment in certain circumstances. (2) Based on 1,305,283 outstanding shares of Class A Common Stock, as last reported by the issuer, plus the number of shares underlying the shares of Series A Preferred Stock held by the reporting persons. ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: Not applicable. ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON: No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Class A Common Stock beneficially owned by Mr. Shabtai. ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Not applicable. ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP: Not applicable. SCHEDULE 13G ---------------------- ------------------- CUSIP NO. 46059F 109 PAGE 5 OF 5 PAGES ---------------------- ------------------- ITEM 9 NOTICE OF DISSOLUTION OF GROUP: Not applicable. ITEM 10 CERTIFICATION: (a) Not applicable. (b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and not held in connection with a or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: April 26, 1999 /s/ BENNY SHABTAI ---------------------------- --------------------------- Benny Shabtai © Copyright 1995-1999 EDGAR Online, Inc. All rights reserved. <<<<<<<<<<<<<