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OMB
APPROVAL
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OMB
Number: 3235-0145
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D /A
Under the Securities Exchange Act of
1934
(Amendment
No. 1 )*
ANCHOR FUNDING SERVICES,
INC.
(Name of
Issuer)
Common
Stock
(Title of
Class of Securities)
032904
10 4
(CUSIP
Number)
Steven Morse, Esq., Morse
& Morse, PLLC., 1400 Old Country Road, Westbury, NY 11590
(516-487-1446)
(Name,
Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December
1,
2007
(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(b)(3) or (4), check the following box 9.
Check the
following box if a fee is being paid with the statement
[ ]. (A fee is not required only if the reporting person:
(1) has a previous statement on file reporting beneficial ownership of more than
five percent of the class of securities described in Item 1; and (2) has filed
no amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
Note: Six
copies of this statement, including all exhibits, should be filed with the
Commission. See Rule 13d-1(a) for other parties to whom copies are
sent.
*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 ("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).
SCHEDULE
13D
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CUSIP
No. 032904 10 4
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Page 2 of
4 Pages
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1
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NAME
OF REPORTING PERSON
S.S.
OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morry
F. Rubin
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A
GROUP*
(a)
(b)
|
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3
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SEC
USE ONLY
|
|
4
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SOURCE
OF FUNDS*
PF
|
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5
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
OR 2(e)
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
USA
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
7
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SOLE
VOTING POWER
4,448,834
|
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8
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SHARED
VOTING POWER
72,000
|
|
|
9
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SOLE
DISPOSITIVE POWER
4,448,834
|
|
|
10
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SHARED
DISPOSITIVE POWER
72,000
|
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11
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,520,834
|
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
Excludes
options to purchase 216,666 shares which vest on February 28, 2009 and
shares ownd by his father, George Rubin.
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.9% -
Common* [22.6% voting capital stock)**
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14
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TYPE
OF REPORTING PERSON*
IN
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*Based
upon 12,940,378 common shares outstanding as reported in the Registrant’s Form
10-Q for the quarter
ended September 30, 2008.
**Based
upon 12,940,378 common shares outstanding and 1,216,999 preferred shares
outstanding with the
voting rights of 7,043,625 shares or a total of 19,984,003 voting
shares.
SCHEDULE
13D
|
CUSIP
No. 032904 10 4
|
Page 3 of
4 Pages
|
On June 29, 2007, the Issuer became a
reporting company under Section 12(g) of the Securities and Exchange Act of
1934, as amended, when its Form 10-SB (filed on April 30, 2007) became effective
(File No. 0-52589). This Schedule 13D was originally filed for the reporting
person who was a 5% or greater stockholder at the time that the Form 10-SB
became effective in lieu of a Schedule 13G.
Item
1. Security and
Issuer
This
statement relates to the Common Stock of Anchor Funding Services, Inc. (the
“Issuer”). The Issuer’s executive office is located at 10801 Johnston
Road, Suite 210, Charlotte, NC 28226.
Item
2. Identity and
Background
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(a)
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Morry
F. Rubin
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(b) 800
Yamato Road, Boca Raton, Florida 33431
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(c)
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Chief
Executive Officer of the Issuer.
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(d) Not
applicable.
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(e)
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Not
applicable.
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(f)
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USA
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Item
3. Source and Amount of
Funds or Other Consideration
On
December 1, 2008, the Reporting Person purchased 500,000 common shares
beneficially owned by a director of the Issuer at $.22 per share. The purchase
price was paid from Mr. Rubin’s personal funds.
Item
4. Purpose of
Transactions
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(a)
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-
(j) Not applicable.
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The
Reporting Person has acquired the securities covered by this schedule for
investment purposes only, notwithstanding the fact that Mr. Rubin is a director
of the Issuer. The Reporting Person does not have any present plans or proposals
that relate to or would result in any of the actions required to be described in
item 4 of Schedule 13D other than receiving the resignation from Frank DeLape as
a director. However, Mr. Rubin, as a director of the Issuer, may in the future
take actions in his fiduciary duty that would otherwise be required to be
described in Item 4 of Schedule 13-D. The Reporting Person may at any time
review or reconsider his position with respect to the Issuer and formulate plans
or proposals with respect to any of such matters, but has no present intention
of doing so.
SCHEDULE
13D
|
CUSIP
No. 032904 10 4
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Page 4 of
4 Pages
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Item
5. Interest in Securities
of the Issuer
(a) -
(b) As of December 1, 2008, the Issuer has outstanding 12,940,378
shares of Common Stock and 1,216,999 shares of Series 1 Preferred Stock with the
voting rights of 7,043,625 common shares. Of the foregoing shares of Common
Stock, the reporting person beneficially owns 4,520,834 shares of Common Stock
(inclusive of outstanding options to purchase 433,334 shares, but excluding
options to purchase 216,666 shares which vest on February 28, 2009 ),
representing 34.9% of the outstanding Common Stock, and 22.6% of the voting
capital stock. The reporting person has the sole power to dispose and vote of
4,448,834 shares of Common Stock owned by him. Mr. Rubin’s wife and his father,
George Rubin, have the shared power to vote and dispose of 72,000 shares held in
trusts for the benefit of minor children of Morry F. Rubin and his
sister.
(c) See
Item 3 above.
(d) -
(e) Not Applicable
Item
6. Contracts,
Arrangements, Understandings or Relationships with Respect to the Securities of
the Issuer.
Mr.
Rubin’s employment contract dated as of January 31, 2007 provides for the
Reporting Person to be Chief Executive Officer of the Issuer.
Item
7. Materials to be filed
as Exhibits
Employment
contract entered into as of January 31, 2007. (Incorporated by reference to
Exhibit 10.2 contained in the Registrant’s Form 10-SB filed with the SEC on
April 30, 2007).
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: December
2, 2008
Signature
By: /s/ Morry F.
Rubin
Morry F.
Rubin