Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
Under
the Securities Exchange Act of 1934
SCHEDULE
13G
AMENDMENT
No. 1
INFORMATION
STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Network-1
Security Solutions,
Inc.
(Name of
Issuer)
Common
Stock, par value $0.01 per
share
(Title of
Class of Securities)
64121N-10-9
(CUSIP
Number)
December 31,
2008
(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)
¨ Rule
13d-1(c)
ý Rule
13d-1(d)
SCHEDULE
13G
CUSIP No.
64121N-10-9
|
1)
|
NAME
OF REPORTING PERSON
S.S.
OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven
D. Heinemann
|
|||
|
2)
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ¨
(b) ¨
|
||
|
3)
|
SEC
USE ONLY
|
|||
|
4)
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
|||
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
5)
|
SOLE
VOTING POWER
2,360,252
|
||
|
6)
|
SHARED
VOTING POWER
0
|
|||
|
7)
|
SOLE
DISPOSITIVE POWER
2,360,252
|
|||
|
8)
|
SHARED
DISPOSITIVE POWER
0
|
|||
|
9)
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,360,252
|
|||
|
10)
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
¨
|
|||
|
11)
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.74%
|
|||
|
12)
|
TYPE
OF REPORTING PERSON
IN
|
|||
Schedule
13G
|
Item
1(a).
|
Name
of Issuer:
|
Network-1
Security Solutions, Inc.
|
Item
1(b).
|
Address
of Issuer’s Principal Executive
Offices:
|
445 Park
Avenue, Suite 1028
New York,
New York 10022
Item
2(a). Name
of Person Filing:
Steven D.
Heinemann
|
Item
2(b).
|
Address
of Principal Business Office or, if None,
Residence:
|
c/o First
New York Securities L.L.C.
90 Park
Avenue 5th
Floor
New York,
NY 10016
|
Item
2(c).
|
Citizenship:
|
United
States
|
Item
2(d).
|
Title
of Class of Securities:
|
Common
Stock, par value $.01 per share
|
Item
2(e).
|
CUSIP
Number:
|
64121N-10-9
|
Item
3.
|
If
this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or
(c), check whether the person filing is
a:
|
|
|
(a)
|
¨
|
Broker
or Dealer Registered Under Section 15 of the Act (15 U.S.C.
78o)
|
|
|
(b)
|
¨
|
Bank
as defined in section 3(a)(6) of the Act (15 U.S.C.
78c)
|
|
|
(c)
|
¨
|
Insurance
Company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c)
|
|
|
(d)
|
¨
|
Investment
Company registered under section 8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8)
|
|
|
(e)
|
¨
|
Investment
Adviser in accordance with §
240.13d-1(b)(1)(ii)(E)
|
|
|
(f)
|
¨
|
Employee
benefit plan or endowment fund in accordance with §
240.13d-1(b)(1)(ii)(F)
|
|
|
(g)
|
¨
|
Parent
Holding Company or control person in accordance with
§240.13d-1(b)(ii)(G)
|
|
|
(h)
|
¨
|
Savings
Association as defined in §3(b) of the Federal Deposit Insurance Act (12
U.S.C. 1813)
|
|
|
(i)
|
¨
|
Church
plan that is excluded from the definition of an investment company under
§3(c)(15) of the Investment Company Act of 1940 (15 U.S.C.
80a-3)
|
|
|
(j)
|
¨
|
Group,
in accordance with
§240.13d-1(b)(ii)(J)
|
|
Item
4.
|
Ownership.
|
|
|
(a)
|
Amount
beneficially owned: 2,360,2521
|
|
|
(b)
|
Percent
of class2:
9.74%
|
|
|
(c)
|
Number
of shares as to which such person
has:
|
|
|
(i)
|
Sole
power to vote or to direct the vote:
2,360,252
|
|
(ii)
|
Shared
power to vote or to direct the vote:
0
|
|
(iii)
|
Sole
power to dispose or to direct the disposition of:
2,360,252
|
|
(iv)
|
Shared
power to dispose or to direct the disposition of:
0
|
|
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.
|
Not
Applicable.
|
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.
|
|
Item
9.
|
Notice
of Dissolution of Group.
|
|
|
Not
Applicable.
|
|
Item
10.
|
Certification.
|
------------------------------------
1 Includes
91,667 shares which are issuable upon exercise of warrants.
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were 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 are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After
reasonable inquiry and to the best knowledge and belief of the undersigned, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: February
11, 2009