UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
NATIONAL HOLDINGS CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
636375 10 7
(CUSIP Number)
Gregory C. Lowney
Maryanne K. Snyder
15207 NE 68th Street
Redmond, Washington 98052
(425) 882-1629
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 15, 2006
(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).
1
SCHEDULE 13G
(Amendment No. 1)
CUSIP NO. 636375 10 7
--------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregory C. Lowney
--------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5) SOLE VOTING POWER
0
--------------------------------------------------------------------------------
6) SHARED VOTING POWER
581,200*
--------------------------------------------------------------------------------
7) SOLE DISPOSITIVE POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8) SHARED DISPOSITIVE POWER
BENEFICIALLY
OWNED BY 581,200*
EACH --------------------------------------------------------
REPORTING 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
PERSON WITH REPORTING PERSON
581,200*
--------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
--------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.3%**
--------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
* This amount includes: (i) 481,200 shares of the Company's common stock, $.01
par value per share (the "Common Stock") issuable upon conversion of the
Company's Series A Convertible Preferred Stock (the "Preferred Stock"); and (ii)
warrants to purchase 100,000 shares of Common Stock.
** Calculated after including the above referenced shares of Common Stock
issuable upon conversion of the Preferred Stock and exercise of the warrants in
the numerator and the denominator.
2
SCHEDULE 13G
(Amendment No. 1)
CUSIP NO. 636375 10 7
--------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Maryanne K. Snyder
--------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP
(a)|_|
(b)|_|
--------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5) SOLE VOTING POWER
0
--------------------------------------------------------------------------------
6) SHARED VOTING POWER
581,200*
--------------------------------------------------------------------------------
7) SOLE DISPOSITIVE POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8) SHARED DISPOSITIVE POWER
BENEFICIALLY
OWNED BY 581,200*
EACH --------------------------------------------------------
REPORTING 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
PERSON WITH REPORTING PERSON
581,200*
--------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
--------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.3%**
--------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
* This amount includes: (i) 481,200 shares of the Company's common stock, $.01
par value per share (the "Common Stock") issuable upon conversion of the
Company's Series A Convertible Preferred Stock (the "Preferred Stock"); and (ii)
warrants to purchase 100,000 shares of Common Stock.
** Calculated after including the above referenced shares of Common Stock
issuable upon conversion of the Preferred Stock and exercise of the warrants in
the numerator and the denominator.
3
SCHEDULE 13G
(Amendment No. 1)
Item 1(a). Name of Issuer:
National Holdings Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
875 North Michigan Avenue, Suite 1560, Chicago, IL 60611
Item 2(a)
and (b). Name of Person Filing and Address of Principal Business or Office
or, if none, Residence:
Gregory C. Lowney
15207 NE 68th Street
Redmond, Washington 98052
Maryanne K. Snyder
15207 NE 68th Street
Redmond, Washington 98052
Item 2(c). Citizenship:
Gregory C. Lowney United States
Maryanne K. Snyder United States
Item 2(d). Title of class of securities:
Common Stock
Item 2(e). Cusip Number:
636375 10 7
Item 3. If this statement is filed pursuant to rules 13d-1(b), or 13d-2(b)
or (c), check whether the person filing is a:
(a) |_| Broker or Dealer registered under Section 15 of the Act.
(b) |_| Bank as defined in Section 3(a)(6) of the Act.
(c) |_| Insurance Company as defined in Section 3(a)(19) of the Act.
(d) |_| Investment company registered under Section 8 of the
Investment Company Act of 1940.
(e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)
(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G);
(h) |_| A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813;
4
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership:
(a) Amount beneficially owned:
See responses to Item 9 of the cover pages
(b) Percent of class:
See responses to Item 11 of the cover pages
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See responses to Item 5 of the cover pages.
(ii) Shared power to vote or to direct the vote:
See responses to Item 6 of the cover pages.
(iii) Sole power to dispose or to direct the disposition of:
See responses to Item 7 of the cover pages.
(iv) Shared power to dispose or to direct the disposition of:
See responses to Item 8 of the cover pages.
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 or
Control Person:
Not Applicable
Item 8. Identification and Classification of Members of the Group:
Not Applicable
5
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
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 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 of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: March 17, 2006
/s/ Gregory C. Lowney
---------------------
Gregory C. Lowney
/s/ Maryanne K. Snyder
----------------------
Maryanne K. Snyder
Exhibit 1
Joint Filing Statement
Statement Pursuant to Rule 13d-1(k)(1)
The undersigned hereby consent and agree to file a joint statement on
Schedule 13G/A under the Securities Exchange Act of 1934, as amended, with
respect to shares of common stock of National Holdings Corporation beneficially
owned by them, together with any or all amendments thereto, when and if
appropriate. The parties hereto further consent and agree to file this Statement
Pursuant to Rule 13d-1(k)(1)(iii) as an exhibit to Schedule 13G/A, thereby
incorporating the same into such Schedule 13G/A.
Dated: March 17, 2006
/s/ Gregory C. Lowney
---------------------
Gregory C. Lowney
/s/ Maryanne K. Snyder
----------------------
Maryanne K. Snyder