UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Frost, Dr. Phillip
4400 Biscayne Boulevard
Miami, FL 33137-3227
USA
2. Issuer Name and Ticker or Trading Symbol
Ladenburg Thalmann Financial Services Inc.
LTS
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
August 31, 2002
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
( ) Form filed by One Reporting Person
(X) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock, par value $.0|07/26/|P | |25,000 |A |$0.1327 | |I |(1) |
001 per share |02 | | | | | | | | |
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Common Stock, par value $.0|08/26/|P | |12,000 |A |$0.34 | |I |(1) |
001 per share |02 | | | | | | | | |
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Common Stock, par value $.0|08/30/|P | |8,500 |A |$0.33 |1,453,466 |I |(1) |
001 per share |02 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Common Stock Purchase |$1.00 |(2) |J | |100,000 |D |Immed|08/31|Common Stock|100,000| |-0- | | |
Warrant (right to buy)| | | | | | |. |/06 |, par value | | | | | |
| | | | | | | | |$.0001 per s| | | | | |
| | | | | | | | |hare | | | | | |
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Common Stock Purchase |$1.00 |(2) |J | |100,000 |A |Immed|08/31|Common Stock|100,000| |100,000 |I |(1)(2) |
Warrant (right to buy)| | | | | | |. |/06 |, par value | | | | | |
| | | | | | | | |$.0001 per s| | | | | |
| | | | | | | | |hare | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) These securities are held by Frost Gamma Limited Partnership, of which the
reporting person is the sole limited partner and the sole shareholder
of Frost-Nevada Corporation, which is the sole shareholder of Frost Gamma Inc.,
the sole general partner of Frost Gamma Limited Partnership.
(2) On 1/18/02, Frost-Nevada, Limited Partnership assigned these warrants to
Frost Gamma Limited Partnership.
JOINT
FILERS
___________________
FROST-NEVADA, LIMITED
PARTNERSHIP
/s/ Phillip Frost,
M.D.
___________________
By Frost-Nevada Corporation, General Partner, by Phillip Frost, M.D.,
President
FROST-GAMMA LIMITED
PARTNERSHIP
/s/ Phillip Frost,
M.D.
___________________
By Frost Gamma Inc., General Partner, by Phillip Frost, M.D.,
President
SIGNATURE OF REPORTING PERSON
/s/ Phillip Frost, M.D.
DATE
September 2, 2002