SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. 1 )*
---
BREAKAWAY SOLUTIONS, INC.
------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
------------------------------------------------------------
(Title of Class of Securities)
106372 10 5
------------------------------------------------------------
(CUSIP Number)
NOT APPLICABLE
------------------------------------------------------------
(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)
[ ] Rule 13d-1(c)
[X] 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 in 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. 106372 10 5 SCHEDULE 13G Page 1 of 4 pages
---------------------------- --------------------------
--------------------------------------------------------------------------------
1. Names of Reporting Persons
I.R.S. Identification No. of above persons (entities only)
FRANK SELLDORFF
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group* (a) [ ]
NOT APPLICABLE. (b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
5. Sole Voting Power
4,139,400 (1)
NUMBER OF ---------------------------------------------------
SHARES 6. Shared Voting Power
BENEFICIALLY NONE
OWNED BY ---------------------------------------------------
EACH 7. Sole Dispositive Power
REPORTING 4,139,400 (1)
PERSON ---------------------------------------------------
8. Shared Dispositive Power
NONE
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,139,400 (1)
--------------------------------------------------------------------------------
10. Check box if the AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.3% (AS OF DECEMBER 31, 2000)
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
(1) INCLUDES, PURSUANT TO RULE 13d-3, 800,000 SHARES SUBJECT TO STOCK OPTIONS
EXERCISABLE WITHIN 60 DAYS OF DECEMBER 31, 2000.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
---------------------------- --------------------------
CUSIP No. 106372 10 5 SCHEDULE 13G Page 2 of 4 pages
---------------------------- --------------------------
--------------------------------------------------------------------------------
ITEM 1(a). NAME OF ISSUER:
BREAKAWAY SOLUTIONS, INC.
--------------------------------------------------------------------------------
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2 SEAPORT LANE, BOSTON, MASSACHUSETTS 02210
--------------------------------------------------------------------------------
ITEM 2(a). NAME OF PERSON FILING:
FRANK SELLDORFF
--------------------------------------------------------------------------------
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE:
REACH INTERNET INCUBATOR, LLP, 1 INTERNATIONAL PLACE,
7TH FLOOR, BOSTON, MASSACHUSETTS 02110
--------------------------------------------------------------------------------
ITEM 2(c). CITIZENSHIP:
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
COMMON STOCK
--------------------------------------------------------------------------------
ITEM 2(e). CUSIP NUMBER:
106372 10 5
--------------------------------------------------------------------------------
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: NOT
APPLICABLE.
(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.
(d) [ ] Investment company registered under Section 8
of the Investment Company Act of 1940.
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act;
(i) [ ] A 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).
--------------------------------------------------------------------------------
---------------------------- --------------------------
CUSIP No. 106372 10 5 SCHEDULE 13G Page 3 of 4 pages
---------------------------- --------------------------
--------------------------------------------------------------------------------
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer identified in
Item 1.
(a) Amount beneficially owned: 4,139,400 (1)
--------------------------
(b) Percent of Class: 8.3% (AS OF DECEMBER 31, 2000)
-----------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 4,139,400 (1)
-----------------------------
(ii) Shared power to vote or to direct the vote NONE
--------------------------
(iii) Sole power to dispose or direct the disposition of 4,139,400 (1)
-------------------
(iv) Shared power to dispose or direct the disposition of NONE
------------------
--------------------------------------------------------------------------------
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
[ ]. 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. CERTIFICATIONS.
NOT APPLICABLE.
--------------------------------------------------------------------------------
(1) INCLUDES, PURSUANT TO RULE 13d-3, 800,000 SHARES SUBJECT TO STOCK OPTIONS
EXERCISABLE WITHIN 60 DAYS OF DECEMBER 31, 2000.
---------------------------- --------------------------
CUSIP No. 106372 10 5 SCHEDULE 13G Page 4 of 4 pages
---------------------------- --------------------------
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.
February 14, 2001
-----------------------------------------
(DATE)
/S/ FRANK SELLDORFF
------------------------------------------
(SIGNATURE)
FRANK SELLDORFF
------------------------------------------
(NAME/TITLE)