UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
(Amendment No. 2)
Whitman Education Group, Inc.
-----------------------------
(Name of Issuer)
Common Stock, no par value
--------------------------
(Title of Class of Securities)
966524100
---------
(CUSIP Number)
December 31, 2001
-----------------
(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 the
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).
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CUSIP No. 966524100 13G Page 2 of 8 Pages
----------- --- ---
---------------------- ----------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bedford Oak Partners, L.P. 06-1504646
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,126,700
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,126,700
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,126,700
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
-2-
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CUSIP No. 966524100 13G Page 3 of 8 Pages
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---------------------- ----------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bedford Oak Advisors, LLC 13-4007124
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,126,700
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,126,700
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,126,700
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
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*SEE INSTRUCTION BEFORE FILLING OUT!
-3-
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CUSIP No. 966524100 13G Page 4 of 8 Pages
--------- --- ---
---------------------- ----------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harvey P. Eisen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,126,700
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,126,700
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,126,700
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
-4-
This Amendment No. 2 on Schedule 13G (this "Amendment No. 2") amends,
supplements and restates Amendment No. 1 to the Schedule 13G which was filed on
February 14, 2001 with respect to the Common Stock (as defined in Item 2(d)
below) of Whitman Education Group, Inc. ("Amendment No. 1").
Item 1(a): Name of Issuer:
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Whitman Education Group, Inc. (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
--------- -----------------------------------------------
4400 Biscayne Boulevard
Miami, Florida 33137
Items 2(a) Name of Person Filing; Address of Principal
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and 2(b): Business Office:
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This statement is filed by and on behalf of (i) Bedford Oak
Partners, L.P., ("BOP") (ii) Bedford Oak Advisors, LLC
("BOA"), in its capacity as investment manager of BOP and
(iii) Harvey Eisen, in his capacity as managing member of
BOA. The principal business address of each reporting person
is 100 South Bedford Road, Mt. Kisco, New York, 10549.
1,126,700 shares of Common Stock, no par value, of the
Company which are the subject of this statement are held
directly by BOP.
Item 2(c): Citizenship:
--------- -----------
BOP is a Delaware limited partnership.
BOA is a Delaware limited liability company.
Mr. Eisen is a United States citizen.
Item 2(d): Title of Class of Securities:
--------- ----------------------------
Common Stock, no par value ("Common Stock")
Item 2(e): CUSIP Number:
--------- ------------
966524100
Item 3: If this statement is filed pursuant to Rules 13d-1(b) or
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13d-2(b) or (c), check whether the person filing is a:
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(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,
-5-
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] 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).
Items 4(a)-(c): Ownership:
-------------- ---------
As of the date of the event which requires the filing of
this statement:
(i) BOP is deemed to have beneficial ownership for purposes
of Section 13(d) of the Securities and Exchange Act of 1934
("Beneficial Ownership") of 1,126,700 shares of Common
Stock. Such shares represent 8.2% of the issued and
outstanding Common Stock. BOP shares voting and dispositive
power over its holdings of Common Stock with BOA and Mr.
Eisen.
(ii) BOA is deemed to have Beneficial Ownership of 1,126,700
shares of Common Stock by virtue of its position as
investment manager of BOP and BMA. Such shares represent
8.2% of the issued and outstanding Common Stock. BOA shares
voting and dispositive power over 1,126,700 of such shares
with BOP and Mr. Eisen.
(iii) Mr. Eisen is deemed to have Beneficial Ownership of
1,126,700 shares of Common Stock by virtue of his position
as the managing member of BOA. Such shares represent 8.2% of
the issued and outstanding Common Stock. Mr. Eisen shares
voting power and dispositive power over 1,126,700 of such
shares with BOP and BOA.
The percentages used herein are calculated based upon the
13,676,269 shares of Common Stock stated to be issued and
outstanding as of October 31, 2001, as reflected in the
Company's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2001.
Item 5: Ownership of Five Percent or Less of a Class:
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If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following: [ ]
Item 6: Ownership of More than Five Percent on Behalf of Another
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Person:
-------
No person other than BOP, BOA or Mr. Eisen is known to have
the right to receive or the power to direct the receipt of
dividends from or the proceeds of sale of shares of Common
Stock reported herein.
Item 7: Identification and Classification of the Subsidiary Which
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Acquired the Security Being Reported on By the Parent
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Holding Company:
----------------
Not Applicable.
Item 8: Identification and Classification of Members of the Group:
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Not Applicable.
Item 9: Notice of Dissolution of Group:
------ ------------------------------
Not Applicable.
Item 10: Certification:
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By signing below each of the undersigned certifies that, to
the best of the undersigned's 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.
-7-
SIGNATURE
---------
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 12, 2002
BEDFORD OAK PARTNERS, L.P.
By: BEDFORD OAK MANAGEMENT, LLC,
its general partner
/s/ Harvey P. Eisen
By: ----------------------------
Harvey P. Eisen
Chairman and Managing Member
BEDFORD OAK ADVISORS, LLC
/s/ Harvey P. Eisen
By: ----------------------------
Harvey P. Eisen
Chairman and Managing Member
/s/ Harvey P. Eisen
---------------------------------
Harvey P. Eisen