| CUSIP No. 806683108 |
SCHEDULE
13D
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Page
2 of 9
Pages
|
|
1
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NAME
OF REPORTING PERSON: Greystone Funding Corporation
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|||||
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I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON (entities only): 54 -
1690128
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||||||
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2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
[X]
|
|||
|
(see
instructions)
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(b)
|
[
]
|
||||
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3
|
SEC
USE ONLY
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|||||
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4
|
SOURCE
OF FUNDS (see instructions)
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|||||
|
OO
|
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|||||
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5
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
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|||||
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REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E)
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[
]
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||||
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
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|||||
|
Virginia
|
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|||||
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NUMBER
OF
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7
|
SOLE
VOTING POWER
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||||
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SHARES
|
0 Shares | |||||
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BENEFICIALLY
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||||||
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OWNED
BY
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8
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SHARED
VOTING POWER
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||||
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EACH
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4,527,716 | |||||
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REPORTING
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||||||
|
PERSON
|
9
|
SOLE
DISPOSITIVE POWER
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||||
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WITH
|
0 Shares | |||||
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10
|
SHARED
DISPOSITIVE POWER
|
|||||
|
4,527,716
|
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|||||
|
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||||||
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11
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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|||||
|
4,527,716
Shares
|
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|||||
|
12
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11)
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|||||
|
EXCLUDES
CERTAIN SHARES (see instructions)
|
[
]
|
|||||
|
13
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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|||||
|
8.3%
|
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|||||
|
14
|
TYPE
OF REPORTING PERSON (see instructions)
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|||||
|
CO
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| CUSIP No. 806683108 |
SCHEDULE
13D
|
Page 3
of 9
Pages
|
|
1
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NAME
OF REPORTING PERSON: Stephen Rosenberg
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|||||
|
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON (entities only):
|
||||||
|
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
[X]
|
|||
|
(see
instructions)
|
(b)
|
[
]
|
||||
|
3
|
SEC
USE ONLY
|
|||||
|
4
|
SOURCE
OF FUNDS (see instructions)
|
|||||
|
OO
|
|
|||||
|
5
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
|
|||||
|
REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E)
|
[
]
|
|||||
|
6
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|||||
|
Virginia
|
|
|||||
|
NUMBER
OF
|
7
|
SOLE
VOTING POWER
|
||||
|
SHARES
|
0
|
|||||
|
BENEFICIALLY
|
||||||
|
OWNED
BY
|
8
|
SHARED
VOTING POWER
|
||||
|
EACH
|
4,527,716
Shares
|
|||||
|
REPORTING
|
||||||
|
PERSON
|
9
|
SOLE
DISPOSITIVE POWER
|
||||
|
WITH
|
0
|
|||||
|
10
|
SHARED
DISPOSITIVE POWER
|
|
||||
|
4,527,716
Shares
|
|
|||||
|
11
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||||
|
4,527,716
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)
|
|||||
|
8.3%
|
|
|||||
|
14
|
TYPE
OF REPORTING PERSON (see instructions)
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|||||
|
IN
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| Item 1. |
Security
and Issuer
|
| Item 2. |
Identity
and
Background
|
| (a) |
This
statement is being jointly filed by Greystone and Stephen Rosenberg
(together, the “Reporting Persons”) pursuant to Rule 13d-1(k) promulgated
by the Commission pursuant to Section 13 of the Securities Exchange
Act of
1934, as amended (the “Exchange Act”). The Reporting Persons have entered
into a Joint Filing Agreement, dated September 27, 2005, incorporated
by
reference in this Schedule 13D/A as Exhibit A (which is hereby
incorporated by reference) pursuant to which the Reporting Persons
have
agreed to file this statement jointly in accordance with the provisions
of
Rule 13d-1(k)(1) under the Exchange Act.
|
| (b) |
The
business address of Mr. Rosenberg is 152 West 57th Street, 60th Floor,
New
York, NY 10019, and the business address of Greystone is 419 Belle
Air
Lane, Warrenton, VA 20186.
|
| (c) |
Mr.
Rosenberg’s present principal occupation involves, among other things,
investing in real estate individually and through investment vehicles
and
originating and securitizing loans. Greystone invests primarily in
real
estate related transactions.
|
| (d) |
During
the past five years, neither of the Reporting Persons nor to the
best of
Greystone’s knowledge, none of its executive officers or directors, has
been convicted in a criminal proceeding (excluding traffic violations
or
similar misdemeanors).
|
| (e) |
During
the last five years, none of the Reporting Persons nor to the best
of
Greystone’s knowledge, none of its executive officers or directors, was a
party to a civil proceeding of a judicial or administrative body
of
competent jurisdiction and as a result of such proceeding 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.
|
| (f) |
Mr.
Rosenberg is a citizen of the United States of America. Greystone
is a
corporation organized under the laws of the Commonwealth of
Virginia.
|
| Item 3. |
Source
and Amount of Funds or Other
Consideration
|
| Item 4. |
Purpose
of the
Transaction
|
| (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 or any of its
subsidiaries;
|
| (c) |
A
sale or transfer of a material amount of assets of the Company or
any of
its subsidiaries;
|
| (d) |
Any
change in the present board of directors or management of the Company,
including any plans or proposals to change the number or term of
directors
or to fill any existing vacancies on the
board;
|
| (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 to cease to be authorized to be quoted in
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 Act;
or
|
| (j) |
Any
action similar to any of those enumerated
above.
|
| Item 5. |
Interest
in Securities of the
Issuer
|
| (a) |
As
of the date hereof, Greystone is the beneficial owner of 4,527,716
shares
of the Common Stock. Such shares of common stock represent approximately
8.3% of the Common Stock outstanding. As previously disclosed in
Greystone’s 13D/A filed with the Commission on April 10, 2006, effective
as of December 21, 2005, Greystone assigned 527,716 shares of the
Common
Stock to The Murray & Sydell Rosenberg Foundation, Inc. (the
“Foundation”), which is a tax-exempt corporation controlled by Mr.
Rosenberg.
|
| (b) |
Mr.
Rosenberg shares with Greystone the power to cast or direct the casting
of
votes on 4,527,716 shares of the Common Stock and shares the power
to
dispose or direct the disposition of such shares. Such shares of
the
Common Stock represent approximately 8.3% of the Common Stock outstanding.
|
| (c) |
Except
for the transactions referred to in Item 4 above, there have not
been any
transactions with respect to the Company’s Common Stock between the date
of the most recent filing on Schedule 13D/A and the date of this
Schedule
13D/A by either of the Reporting Persons referred to
herein.
|
| (d) |
To
the knowledge of the Reporting Persons, no other person is known
to have
the right to receive or the power to direct the receipt of dividends
from
or the proceeds from the sale of such shares of the Common
Stock.
|
| (e) |
Not
applicable.
|
| Item 6. |
Contracts,
Arrangements, Understandings or Relationships with Respect to
Securities
of the
Issuer
|
| Item 7. |
Material
to be Filed as
Exhibits
|