UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Workflow Management, Inc.
-------------------------
(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
98137N1090
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(CUSIP Number)
June 26, 2003
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(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. 98137N1090 13G Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Springhouse Capital, LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
0
------------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 831,687
OWNED BY ------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
831,687
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
831,687
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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
6.3%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 98137N1090 13G Page 3 of 10 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
Springhouse Capital LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
------------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 831,687
OWNED BY ------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
831,687
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
831,687
--------------------------------------------------------------------------------
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
6.3%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 98137N1090 13G Page 4 of 10 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
Brian Gaines
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
65,900
------------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 831,687
OWNED BY ------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 65,900
WITH ------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
831,687
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
897,587
--------------------------------------------------------------------------------
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
6.8%
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12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
This Schedule 13G (this "Schedule 13G") is being filed with respect to the
Common Stock (as defined in Item 2(d) below) of Workflow Management, Inc.
Item 1(a): Name of Issuer:
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The name of the issuer is Workflow Management, Inc., a Delaware corporation
(the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
--------- -----------------------------------------------
The Company's principal executive office is located at 240 Royal Palm Way,
Palm Beach, FL 33480.
Item 2(a): Name of Person Filing:
--------- ---------------------
This Schedule 13G with respect to the Common Stock (as defined in Item 2(d)
below) of the Company is filed by Mr. Brian Gaines ("Mr. Gaines"), Springhouse
Capital LLC, a Delaware limited liability company (the "General Partner"), and
Springhouse Capital, LP, a Delaware limited partnership (the "Partnership" and,
together with the General Partner and Mr. Gaines, the "Reporting Persons").
Certain shares of Common Stock reported herein are held directly by the
Partnership and the remainder of the shares reported herein are held directly by
Mr. Gaines. The General Partner is the general partner of the Partnership, has
investment discretion over securities held by the Partnership and by virtue of
such position may be deemed to have beneficial ownership of the Common Stock
held by the Partnership. Mr. Gaines is the managing member of the General
Partner and by virtue of such position may be deemed to have beneficial
ownership of the Common Stock held by the Partnership, along with beneficial
ownership of his direct holdings.
Item 2(b): Address of Principal Business Office or, if None,
--------- -------------------------------------------------
Residence:
---------
The address of the principal business office of each of the Reporting
Persons is 520 Madison Avenue, 32nd Floor, New York, NY 10022.
Item 2(c): Citizenship:
--------- -----------
The Partnership and the General Partner are organized under the laws of the
State of Delaware. Mr. Gaines is a citizen of the United States of America.
Item 2(d): Title of Class of Securities:
--------- ----------------------------
Common Stock, $0.001 par value ("Common Stock")
Item 2(e): CUSIP Number:
--------- ------------
98137N1090
-5-
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,
(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).
Item 4: Ownership:
------ ---------
The percentages used herein and in the rest of this Schedule 13G are
calculated based upon a total 13,273,922 shares of Common Stock issued and
outstanding as of March 13, 2003, as reported in the Company's Quarterly Report
on Form 10-Q for the quarterly period ended January 31, 2003.
A. The Partnership.
---------------
The Partnership may be deemed to share beneficial ownership over its
holdings with the General Partner and Mr. Gaines. The Partnership's
holdings are as follows:
(a) Amount beneficially owned: 831,687
(b) Percent of class: 6.3%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 831,687
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 831,687
-6-
B. The General Partner.
-------------------
The General Partner may be deemed to share beneficial ownership over
its holdings with Mr. Gaines and the Partnership. The General Partner's
holdings are as follows:
(a) Amount beneficially owned: 831,687
(b) Percent of class: 6.3%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 831,687
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 831,687
C. Mr. Gaines.
----------
Mr. Gaines may be deemed to share beneficial ownership over certain of
his holdings with the General Partner and the Partnership. Mr. Gaines's
holdings are as follows:
(a) Amount beneficially owned: 897,587
(b) Percent of class: 6.8%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 65,900
(ii) Shared power to vote or direct the vote: 831,687
(iii) Sole power to dispose or direct the disposition: 65,900
(iv) Shared power to dispose or direct the disposition: 831,687
Item 5: Ownership of Five Percent or Less of a Class:
------ --------------------------------------------
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
------ --------------------------------------------------------
Person:
------
Other than as set forth herein, no other person has the right to receive or
the power to direct the receipt of dividends from, or proceeds from the sale of,
in excess of 5% of the total outstanding Common Stock.
Item 7: Identification and Classification of the Subsidiary Which
------ ---------------------------------------------------------
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.
-7-
Item 9: Notice of Dissolution of Group:
------ ------------------------------
Not applicable.
Item 10: Certification:
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Each Reporting Person hereby makes the following certification:
By signing below I certify that, to the best of my 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.
-8-
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: July 8, 2003
SPRINGHOUSE CAPITAL, LP
By: SPRINGHOUSE CAPITAL LLC,
its General Partner
By: /s/ Brian Gaines
------------------------
Name: Brian Gaines
Title: Managing Member
SPRINGHOUSE CAPITAL LLC
By: /s/ Brian Gaines
------------------------
Name: Brian Gaines
Title: Managing Member
/s/ Brian Gaines
-----------------------------
Brian Gaines
[SIGNATURE PAGE TO SCHEDULE 13G
WITH RESPECT TO
WORKFLOW MANAGEMENT, INC.]
EXHIBIT INDEX
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Exhibit 1: Joint Filing Agreement, dated July 8, 2003, by and among
Springhouse Capital, LP, Springhouse Capital LLC and Brian
Gaines.