UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
eSpeed, Inc.
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(Name of Issuer)
Class A Common Stock, $0.01 par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
296643109
---------
(CUSIP Number)
December 31, 2006
-----------------
(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).
--------------------------------- -------------------
CUSIP No. 296643109 13G Page 2 of 11 Pages
--------------------------------- -------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jay Goldman Asset Management, L.L.C.
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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
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 416,397 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
416,397 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
416,397 (see Item 4)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.4% (see Item 4)
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12 TYPE OF REPORTING PERSON*
00
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*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 11
--------------------------------- -------------------
CUSIP No. 296643109 13G Page 3 of 11 Pages
--------------------------------- -------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jay Goldman Capital Advisors, L.P.
---------- ---------------------------------------------------------------------
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
------ ----------------------------------------------------
6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 196,641 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
196,641 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
196,641 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.7% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 11
--------------------------------- -------------------
CUSIP No. 296643109 13G Page 4 of 11 Pages
--------------------------------- -------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jay G. Goldman
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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
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
45,000
------ ----------------------------------------------------
6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 613,038 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
45,000
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
613,038 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
658,038 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.2% (see Item 4)
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12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 11
--------------------------------- -------------------
CUSIP No. 296643109 13G Page 5 of 11 Pages
--------------------------------- -------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Newberg Family Trust u/d/t 12/18/90
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 523,612 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
523,612 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
523,612 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.8% (see Item 4)
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12 TYPE OF REPORTING PERSON*
OO
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 11
--------------------------------- -------------------
CUSIP No. 296643109 13G Page 6 of 11 Pages
--------------------------------- -------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bruce Newberg
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 523,612 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
523,612 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
523,612 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.8% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 11
Item 1(a) Name of Issuer:
--------------
eSpeed, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
135 East 57th Street
New York, NY 10022
Items 2(a) Name of Person Filing:
This Amendment No. 1 to Schedule 13G with respect to the
Common Stock of the Company is filed by: (i) Jay Goldman
Asset Management, L.L.C., a Delaware limited liability
company ("JGAM"), which serves as the investment adviser to
an investment fund (the "JGAM Fund"), with respect to shares
of Common Stock directly beneficially owned by the JGAM Fund
(collectively, the "JGAM Shares"); (ii) J. Goldman Capital
Advisors, L.P., a Delaware limited partnership ("Capital
Advisors"), which serves as the management company of
several investment funds (such funds, collectively, the
"Capital Advisors Funds"), with respect to shares of Common
Stock directly beneficially owned by the Capital Advisors
Funds (collectively, the "Capital Advisors Shares"); (iii)
Mr. Jay G. Goldman ("Mr. Goldman"), who serves as the
manager of JGAM and president of the general partner of
Capital Advisors, with respect to the JGAM Shares, the
Capital Advisors Shares and shares of Common Stock directly
beneficially owned by the relatives of Mr. Goldman; (iv)
Newberg Family Trust u/d/t 12/18/90 (the "Newberg Family
Trust"), with respect to the shares of Common Stock directly
beneficially owned by it (the "Newberg Shares"); and (v) Mr.
Bruce L. Newberg ("Mr. Newberg"), as Trustee of the Newberg
Family Trust, with respect to the Newberg Shares.
JGAM may be deemed to beneficially own the JGAM Shares by
virtue of its position as investment adviser of the JGAM
Fund. Capital Advisors may be deemed to beneficially own the
Capital Advisors Shares by virtue of its position as
management company of the Capital Advisors Funds. Mr.
Goldman may be deemed to beneficially own the JGAM Shares
and the Capital Advisors Shares by virtue of his position as
manager of JGAM and as president of the general partner of
Capital Advisors. JGAM, Capital Advisors and Mr. Goldman are
hereinafter sometimes collectively referred to as the "Jay
Goldman Reporting Persons."
Mr. Newberg may be deemed to beneficially own the Newberg
Shares by virtue of his position as Trustee of the Newberg
Family Trust.
Page 7 of 11
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office of JGAM,
Capital Advisors and Mr. Goldman is c/o J. Goldman & CO. LP,
152 West 57th Street, New York, New York 10019.
The address of the principal business office of the Newberg
Family Trust and Mr. Newberg is 11601 Wilshire Boulevard,
Los Angeles, California 90025.
Item 2(c) Citizenship:
-----------
JGAM and Capital Advisors are organized under the laws of
the State of Delaware. Mr. Goldman is a citizen of the
United States of America.
The Newberg Family Trust is organized under the laws of the
State of California. Mr. Newberg is a citizen of the United
States of America.
Item 2(d) Title of Class of Securities:
----------------------------
Class A Common Stock, $0.01 par value ("Common Stock")
Item 2(e) CUSIP Number:
------------
296643109
Item 3 Not Applicable
Item 4 Ownership:
---------
A. JGAM
(a) Amount beneficially owned: 416,397 shares of Common
Stock, held by the JGAM fund.
(b) Percent of class: 1.4%. This percentage is based upon a
total of 29,759,139 shares of Common Stock issued and outstanding
as of October 27, 2006, as reported in the Company's Schedule 14A
filed on November 14, 2006 (the "Reported Share Number").
(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: 416,397
(iii) Sole power to dispose or direct the disposition:
-0-
(iv) Shared power to dispose or direct the disposition:
416,397
B. Capital Advisors
(a) Amount beneficially owned: 196,641 shares of Common
Stock.
Page 8 of 11
(b) Percent of class: 0.7%.
(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: 196,641
(iii) Sole power to dispose or direct the disposition:
-0-
(iv) Shared power to dispose or direct the disposition:
196,641
C. Mr. Goldman
(a) Amount beneficially owned: 658,038 shares of common
STock, consisting of 613,038 shares of Common Stock held by the
JGAM fund, 196,641 shares of Common Stock held by the Capital
Advisors Funds and 45,000 shares of Common Stock held by the
relatives of Mr. Goldman.
(b) Percent of class: 2.2%. This percentage is based upon
the Reported Share Number.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 45,000
(ii) Shared power to vote or direct the vote: 613,038
(iii) Sole power to dispose or direct the disposition:
45,000
(iv) Shared power to dispose or direct the disposition:
613,038
D. Newberg Family Trust
(a) Amount beneficially owned: 523,612 shares of Common
Stock.
(b) Percent of class: 1.8%. This percentage is based upon
the Reported Share Number.
(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: 523,612
(iii) Sole power to dispose or direct the disposition:
-0-
(iv) Shared power to dispose or direct the disposition:
523,612
E. Mr. Newberg
(a) Amount beneficially owned: 523,612 shares of Common
Stock.
(b) Percent of class: 1.8%. This percentage is based upon
the Reported Share Number.
(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: 523,612
(iii) Sole power to dispose or direct the disposition:
-0-
(iv) Shared power to dispose or direct the disposition:
523,612
By virtue of the relationships among the Jay Goldman
Reporting Persons, Mr. Newberg and the Newberg Family Trust,
the Jay Goldman Reporting Persons, Mr. Newberg and the
Newberg Family Trust may be deemed to be a "group" within
the meaning of Rule 13d-5(b)(1) under the Securities
Exchange Act. The Jay Goldman Reporting Persons expressly
disclaim beneficial ownership of any of the shares of Common
Stock beneficially owned Mr. Newberg or the Newberg Family
Trust. Mr. Newberg and the Newberg Family Trust expressly
disclaim
Page 9 of 11
beneficial ownership of any of the shares of Common Stock
beneficially owned by any of the Jay Goldman Reporting
Persons. JGAM and Capital Advisors expressly disclaim
beneficial ownership of the 45,000 shares of Common Stock
owned by the relatives of Mr. Goldman.
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. [X]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
------
Not Applicable
Item 7 Identification and Classification of the
----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
-----------------------------------------
Not Applicable
Item 8 Identification and Classification of Members
---------------------------------------------
of the Group:
------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below the signatory certifies that, to the best
of his 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.
Page 10 of 11
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: February 14, 2007
JAY GOLDMAN ASSET MANAGEMENT, L.L.C.
By: /s/ Jay G. Goldman
-------------------------------------
Name: Jay G. Goldman
Title: Manager
J. GOLDMAN CAPITAL ADVISORS, L.P.
By: J. Goldman Capital Management, Inc.,
its general partner
By: /s/ Jay G. Goldman
--------------------------------
Name: Jay G. Goldman
Title: President
JAY G. GOLDMAN
/s/ Jay G. Goldman
------------------------------------------
Jay G. Goldman
NEWBERG FAMILY TRUST u/d/t 12/18/90
By: /s/ Bruce L. Newberg
-------------------------------------
Name: Bruce L. Newberg
Title: Trustee
BRUCE L. NEWBERG
/s/ Bruce L. Newberg
------------------------------------------
Bruce L. Newberg
Page 11 of 11