OMB
APPROVAL
OMB
Number: 3235-0145
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
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)
July
8, 2009
(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).
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CUSIP
No. 032904
|
Schedule
13D
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Page
2 of 5 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
Marc
Malaga
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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
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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
|
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NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
7
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SOLE
VOTING POWER
1,306,226
***
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8
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SHARED
VOTING POWER
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9
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SOLE
DISPOSITIVE POWER
1,256,474
***
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10
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SHARED
DISPOSITIVE POWER
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CUSIP
No. 032904
|
Schedule
13D
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Page 3
of 5 Pages
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,256,474****
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /
/
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
- Common* (6.4% 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 March 31, 2009.
**
Based upon 12,940,378 common shares outstanding and 1,314,369 preferred shares
outstanding, with the voting rights of 5.7877 shares or a total of 7,607,173
voting shares.
***
Mr. Malaga owns (i) 63,161 preferred shares (exclusive of accrued and undeclared
dividends) convertible into 315,805 common shares but with the voting rights of
365,557 shares plus (ii) 940,669 common shares.
****
Based upon economic ownership and not voting rights.
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CUSIP
No. 032904
|
Schedule
13D
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Page 4
of 5 Pages
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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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Marc
Malaga
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| (b) | 6434 Via Rosa, Boca Raton, FL 33433 | |
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(c)
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Consultant.
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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
Personal
Funds.
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CUSIP
No. 032904
|
Schedule
13D
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Page 5
of 5 Pages
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Item 4. Purpose of
Transactions
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(a)
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-
(j) Not applicable.
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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. 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.
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Item
5.
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Interest
in Securities of the Issuer
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(a)
- (b) As of May 31, 2009, the Issuer has outstanding 12,940,378 shares of
Common Stock and 1,314,369 shares of Series 1 Preferred Stock with the
voting rights of 7,607,173 common shares. Of the foregoing shares of
Common Stock, the reporting person beneficially owns 940,669 shares of
Common Stock as of May 31, 2009 and 63,161 preferred shares convertible
into 315,825 common shares (but with the voting rights of 365,557 shares),
representing 9.5% of the outstanding Common Stock, and 4% of the voting
capital stock. The reporting person has the sole power to dispose and vote
of 940,669 shares of Common Stock and 63,161 preferred shares owned by
him. The foregoing information is exclusive of accrued and undeclared
dividends on Mr. Malaga’s preferred share ownership which has an annual
dividend through December 31, 2009 of 8% payable in cash or in additional
shares of Preferred Stock, based upon an assumed value of $5.00 per share
of Preferred Stock.
(c)
Since March 2009, Mr. Malaga has purchased 940,669 shares of the Company’s
Common Stock at prices ranging from $.60 to $1.25 per share. In May 2009,
the reporting person entered into agreements to acquire an aggregate of
63,161 share of Preferred Stock in four private transactions at
approximately $4.54 per Preferred Share (equal to approximately $.91 per
Common Share). This transaction closed on July 8, 2009.
(d)
- (e) Not Applicable
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Item
6.
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Contracts,
Arrangements, Understandings or Relationships with Respect to the
Securities of the Issuer.
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Not
Applicable
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Item
7.
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Materials
to be filed as Exhibits
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Not
Applicable.
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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:
July15, 2009
Signature
By: /s/ Marc
Malaga
Marc
Malaga