| OMB APPROVAL | |
| OMB Number: 3235-0145 |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE 13D/A
Under
the Securities Exchange Act of 1934
(Amendment
No. 3 )*
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 7,
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).
SCHEDULE
13D
|
CUSIP
No. 032904 10 4
|
Page 2 of
4 Pages
|
|
1
|
NAME
OF REPORTING PERSON
S.S.
OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marc
Malaga
|
|
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
|
|
3
|
SEC
USE ONLY
|
|
4
|
SOURCE
OF FUNDS*
PF
|
|
5
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
OR 2(e)
|
|
6
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
USA
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
7
|
SOLE
VOTING POWER
2,229,587***
|
|
8
|
SHARED
VOTING POWER
|
|
|
9
|
SOLE
DISPOSITIVE POWER
2,179,835***
|
|
|
10
|
SHARED
DISPOSITIVE POWER
|
|
11
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,179,835****
|
|
12
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
|
|
13
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14..5%
- Common * (10.3% voting capital stock)**
|
|
14
|
TYPE
OF REPORTING PERSON*
IN
|
|
*
|
Based
upon 14,092,695 common shares outstanding as of December 7, 2009 after
giving effect to the possible conversion of preferred stock into 315,805
common shares and warrants exercisable into 666,672 common
shares.
|
|
**
|
Based
upon 21,643,744 common shares outstanding for voting purposes which
includes 14,092,695 outstanding common shares, 1,189,484 preferred shares
outstanding with the voting rights of 5.7877 shares or a total of
6,884,377 voting shares and Mr. Malaga’s warrants to purchase 666,672
common 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) 1,197,358 common shares plus
warrants to purchase 666,672 common
shares.
|
|
****
|
Based
upon economic ownership and not voting
rights.
|
SCHEDULE
13D
|
CUSIP
No. 032904 10 4
|
Page 3
of 4 Pages
|
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
|
|
(a)
|
Marc
Malaga
|
(b) 6434
Via Rosa, Boca Raton, FL 33433
|
|
(c)
|
Consultant.
|
(d) Not
applicable.
|
|
(e)
|
Not
applicable.
|
|
|
(f)
|
USA
|
Item
3. Source and Amount of Funds or Other
Consideration
Personal Funds. See Item
5(c).
Item
4. Purpose of Transactions
|
(a)
|
-
(j) Not applicable.
|
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.
SCHEDULE
13D
|
CUSIP
No. 032904 10 4
|
Page 4 of
4 Pages
|
Item
5. Interest in Securities of the Issuer
(a) -
(b) As of December 8, 2009, the Issuer has outstanding 14,092,695
shares of Common Stock and 1,189,484 shares of Series 1 Preferred Stock with the
voting rights of 6,884,377 common shares. Of the foregoing shares of Common
Stock (including 315,805 common shares issuable upon exercise of 63,161
preferred shares), the reporting person beneficially owns 2,179,835 shares of
Common Stock as of December 8, 2009, representing 14.5% of the outstanding
Common Stock, and 10.3% of the voting capital stock. The reporting person has
the sole power to dispose and vote of 1,864,030 shares of Common Stock and
63,161 preferred shares convertible into 315,805 common shares owned by
him. The Reporting Person has the sole power to vote 1,864,030 shares
of common stock and 63,161 preferred shares with the voting rights of 365,557
common shares. 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 1,197,358 shares of the Company’s Common
Stock at prices ranging from $.30 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. On December 7, 2009, Mr. Malaga purchased from the
Issuer, 166,668 common shares and 666,672 ten year warrants, exercisable at
$1.00 per share at a cost of $166,668.
(d) -
(e) Not Applicable
Item
6. Contracts, Arrangements, Understandings or Relationships
with Respect to the Securities of the Issuer.
Not Applicable.
Item
7. Materials to be filed as Exhibits
Not Applicable.
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
15, 2009
|
By:
|
/s/ Marc Malaga | |
| Marc Malaga | |||