UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.________)*
Northfield Laboratories Inc.
----------------------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
666135108
--------------
(CUSIP Number)
July 28, 2003
------------------------------------------------------
(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. 666135108 13G Page 2 of 6 Pages
--------------------------- -------------------------------
--------- -------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities only)
Michael A. Roth and Brian J. Stark, as joint filers pursuant to Rule 13D-1(k)
--------- -------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
2 (b) |_|
Not Applicable.
--------- -------------------------------------------------------------------------------
SEC USE ONLY
3
--------- -------------------------------------------------------------------------------
CITIZENSHIP OF PLACE OF ORGANIZATION
4
United States of America
--------- -------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER
SHARES 5
BENEFICIALLY 1,160,714
OWNED BY
EACH
REPORTING
PERSON
WITH
--------- -------------------------------------------------------
SHARED VOTING POWER
6
0
--------- -------------------------------------------------------
SOLE DISPOSITIVE POWER
7
1,160,714
--------- -------------------------------------------------------
SHARED DISPOSITIVE POWER
8
0
------------ ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,160,714
------------ ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
Not applicable.
------------ ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.1%
------------ ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
------------ ----------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 6 Pages
SCHEDULE 13G August 7, 2003
Item 1(a). Name of Issuer.
--------- --------------
Northfield Laboratories Inc.
Item 1(b). Address of Issuer's Principal Executive Offices.
--------- -----------------------------------------------
1560 Sherman Avenue
Suite 1000
Evanston, IL 60201-4800
Item 2(a). Name of Person Filing.
--------- ----------------------
Michael A. Roth and Brian J. Stark, as joint filers
Item 2(b). Address of Principal Business Office or, if None,
--------- --------------------------------------------------------
Residence.
---------
3600 South Lake Drive
St. Francis, WI 53235
Item 2(c). Citizenship.
--------- -----------
United States of America
Item 2(d). Title of Class of Securities.
--------- ----------------------------
Common Stock
Item 2(e). CUSIP Number.
--------- ------------
666135108
Item 3. If this Statement is Filed pursuant to Rule 13d-1(b), or
------ --------------------------------------------------------
13d-2(b) or (c), Check Whether the Person Filing is a:
-----------------------------------------------------
(a) |_| Broker or dealer registered under Section 15
of the Exchange Act.
(b) |_| Bank as defined in Section 3(a)(6) of the
Exchange Act.
(c) |_| Insurance company as defined in Section 3(a)
(19) of the Exchange Act.
(e) |_| Investment company registered under Section
8 of the Investment Company Act.
(f) |_| An investment advisor in accordance with
Rule 13d-1(b)(1)(ii)(E);
Page 4 of 6 Pages
SCHEDULE 13G August 7, 2003
(g) |_| An employee benefit plan or endowment fund
in accordance with Rule 13d-1(b)(1)(ii)(F);
(h) |_| A parent holding company or control person
in accordance with Rule 13d-1(b)(1)(ii)(G)
(i) |_| A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act;
(j) |_| A churc h plan that is excluded from the
definition of an investment company under
Section 3(c)(14) of the Investment Company
Act;
(k) |_| Group, in accordance with Rule 13d-1(b)(1)
(ii)(J)
If this statement is filed pursuant to Rule 13d-1(c), check this
box. |X|
Item 4. Ownership.
------ ---------
(a) Amount beneficially owned:
1,160,714*
-----------------------------------------------------
(b) Percent of class:
7.1%*
-----------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 1,160,714*
------------
(ii) Shared power to vote or to direct the vote 0
-----------
(iii) Sole power to dispose or to direct the disposition of 1,160,714* ,
---------------
(iv) Shared power to dispose or direct the disposition of 0 ,
---------------
*The foregoing amounts of shares and percentage
represent the combined indirect holdings of Michael
A. Roth and Brian J. Stark, as joint filers. All of
the foregoing shares are held directly by SF Capital
Partners, Ltd., a British Virgin Islands company
("SF Capital") which acquired 892,857 shares and the
right to purchase an additional 267,857 shares
within 60 days after July 28, 2003. Messrs. Roth and
Stark are the founding members and direct the
management of Staro Asset Management, L.L.C., a
Wisconsin limited liability company ("Staro") which
acts as investment manager and has sole power to
direct the management of SF Capital. Through Staro,
Messrs. Roth and Stark possess sole voting and
dispositive power over all of the foregoing shares.
Based upon the 16,426,589 shares of Common Stock
issued and outstanding as of July 28, 2003, as
reported by the Issuer to SF Capital (which amount
Page 5 of 6 Pages
SCHEDULE 13G August 7, 2003
includes the 14,265,875 shares reported in the
Issuer's Form 10-Q for the period ended February 28,
2003 plus the 1,892,857 shares sold, along with
options exercisable within 60 days to purchase an
additional 567,857 shares, as of July 28, 2003
pursuant to the Issuer's Registration Statement on
Form S-3 filed with the SEC on June 27, 2003, as
supplemented), for the purposes of Rule 13d-3 under
the Securities Exchange Act of 1934, Messrs. Roth
and Stark may be deemed to be the beneficial owners
of 1,160,714 shares of Common Stock which represents
7.1% of the Issuer's issued and outstanding shares
of Common Stock.
Item 5. Ownership of Five Percent or Less of a Class.
------ --------------------------------------------
Not applicable.
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 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.
Page 6 of 6 Pages
SCHEDULE 13G August 7, 2003
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.
August 7, 2003
/s/ Michael A. Roth
---------------------------------
Michael A. Roth
/s/ Brian J. Stark
---------------------------------
Brian J. Stark
EXHIBIT 1
AGREEMENT AS TO JOINT FILING
Dated: August 7, 2003
The undersigned hereby agree that the Schedule 13G with respect to
Northfield Laboratories Inc. dated as of the date hereof, is filed on behalf of
each of the undersigned jointly pursuant to Rule 13d-1(k).
/s/ Michael A. Roth
---------------------------------
Michael A. Roth
/s/ Brian J. Stark
---------------------------------
Brian J. Stark
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