sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 1)(1)
SPORTING MAGIC, INC.
(Name of issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
--------------------------------------------------------------------------------
(Title of class of securities)
84916X 20 3
--------------------------------------------------------------------------------
(CUSIP number)
ROBERT H. FRIEDMAN, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
--------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
February 1, 2002
--------------------------------------------------------------------------------
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
------------------
1 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 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).
---------------------------------- ------------------------------
CUSIP No. 84916X 20 3 13D Page 2 of 5 pages
---------------------------------- ------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
William B. Hensley
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States of America
--------------------------------------------------------------------------------
NUMBER OF
SHARES
BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY
EACH
REPORTING
PERSON WITH 3,000,000
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,000,000
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,000,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------------------- ------------------------------
CUSIP No. 84916X 20 3 13D Page 3 of 5 pages
---------------------------------- ------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
The William B. III and Cindy S. Hensley Living Trust
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Indiana
--------------------------------------------------------------------------------
NUMBER OF
SHARES
BENEFICIALLY 7 SOLE VOTING POWER
OWNED BY
EACH
REPORTING
PERSON WITH 1,500,000
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,500,000
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,500,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------------------- ------------------------------
CUSIP No. 84916X 20 3 13D Page 4 of 5 pages
---------------------------------- ------------------------------
The following constitutes Amendment No. 1 to the Schedule 13D filed by the
undersigned (the "Schedule 13D").
Item 7. Materials to be Filed as Exhibits.
---------------------------------
Exhibit No. Description
----------- -----------
99.1 The Exchange Agreement, dated December
21, 2001, by and among Sporting Magic,
Inc., Buddy Young, Next, Inc., Danny F.
Cooke, William B. Hensley and the
William B. III and Cindy S. Hensley
Living Trust.
99.2 Amendment No. 1 to the Exchange
Agreement, dated July 18, 2002 by and
among Sporting Magic, Inc., Buddy
Young, Next, Inc., Danny F. Cooke,
William B. Hensley and the William B.
III and Cindy S. Hensley Living Trust.
99.3 Amendment No. 2 to the Exchange
Agreement, dated February 1, 2002, by
and among Sporting Magic, Inc., Buddy
Young, Next, Inc., Danny F. Cooke,
William B. Hensley and the William B.
III and Cindy S. Hensley Living Trust.
---------------------------------- ------------------------------
CUSIP No. 84916X 20 3 13D Page 5 of 5 pages
---------------------------------- ------------------------------
SIGNATURES
----------
After due inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: February 11, 2002
/s/ William B. Hensley
---------------------------------------
William B. Hensley
THE WILLIAM B. III AND CINDY S.
HENSLEY LIVING TRUST
By: /s/ William B. Hensley
-----------------------------------
William B. Hensley, Trustee