SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* CDSI HOLDINGS INC. --------------------------- (NAME OF ISSUER) COMMON STOCK $.01 PAR VALUE --------------------------- (TITLE OF CLASS OF SECURITIES) 12512T 10 2 --------------------------- (CUSIP NUMBER) N/A --------------------------- (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 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). Page 1 of 5 - ----------------------- ------------------- CUSIP NO. 12512T 10 2 PAGE 2 OF 5 PAGES - ----------------------- ------------------- SCHEDULE 13G =============== =============================================================== 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person New Valley Corporation =============== =============================================================== 2 Check the Appropriate Box if a Member of a Group* (a) [ ] (b) [ ] =============== =============================================================== 3 SEC Use Only =============== =============================================================== 4 Citizenship or Place of Organization Delaware =============== =============================================================== 5 Sole Voting Power 2,990,000 ==================================================== Number of 6 Shared Voting Power Shares - 0 - Beneficially Owned by Each ==================================================== Reporting Person 7 Sole Dispositive Power With 2,990,000 ==================================================== 8 Shared Dispositive Power - 0 - =============== =============================================================== 9 Aggregate Amount Beneficially Owned by Each Reporting Person 2,990,000 =============== =============================================================== 10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares* [ ] =============== =============================================================== 11 Percent of Class Represented by Amount in Row (9) 64.7% =============== =============================================================== 12 Type of Reporting Person* CO =============== =============================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- ------------------- CUSIP NO. 12512T 10 2 PAGE 3 OF 5 PAGES - ----------------------- ------------------- ITEM 1(a). Name of Issuer: CDSI HOLDINGS INC. ---------------------------------------------------------------- ITEM 1(b). Address of Issuer's Principal Executive Offices: 100 S.E. SECOND STREET, 32ND FLOOR, MIAMI, FL 33131 ---------------------------------------------------------------- ITEM 2(a). Name of Person Filing: NEW VALLEY CORPORATION ---------------------------------------------------------------- ITEM 2(b). Address of Principal Business Office: 100 S.E. SECOND STREET, 32ND FLOOR, MIAMI, FLORIDA 33131 ---------------------------------------------------------------- ITEM 2(c). Citizenship: DELAWARE ---------------------------------------------------------------- ITEM 2(d). Title of Class of Securities: COMMON STOCK, $.01 PAR VALUE ---------------------------------------------------------------- ITEM 2(e). CUSIP Number: 12512T 10 2 ---------------------------------------------------------------- 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 ITEM 4. OWNERSHIP. (a) Amount Beneficially Owned: 2,990,000 (b) Percent of Class: 64.7% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 2,990,000 (ii) shared power to vote or to direct the vote: -0- (iii) sole power to dispose or to direct the disposition of: 2,990,000 (iv) shared power to dispose or to direct the disposition of: -0- 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 - ----------------------- ------------------- CUSIP NO. 12512T 10 2 PAGE 4 OF 5 PAGES - ----------------------- ------------------- 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 - ----------------------- ------------------- CUSIP NO. 12512T 10 2 PAGE 5 OF 5 PAGES - ----------------------- ------------------- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. NEW VALLEY CORPORATION Dated: January 27, 1999 By: /s/ Richard J. Lampen ----------------------- Richard J. Lampen Executive Vice President