|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
|
| |||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock Warrant (right to buy) | $ 0.75 | 03/31/2008 | J(1) | 2,100,000 | 11/19/2007 | 06/27/2012 | Common Stock | 2,100,000 | (1) | 0 | D (2) (3) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Bluefin Capital LLC ONE NORTH CLEMATIS STREET SUITE 300 WEST PALM BEACH, FL 33401 |
X | |||
ComVest Capital, LLC ONE NORTH CLEMATIS STREET SUITE 300 WEST PALM BEACH, FL 33401 |
X | |||
COMVEST CAPITAL MANAGEMENT LLC ONE NORTH CLEMATIS STREET SUITE 300 WEST PALM BEACH, FL 33401 |
X | |||
FALK MICHAEL ONE NORTH CLEMATIS STREET SUITE 300 WEST PALM BEACH, FL 33401 |
X | |||
PRIDDY ROBERT L 9955 AIRTRAN BLVD. ORLANDO, FL 32827 |
X |
Bluefin Capital, LLC By: ComVest Capital, LLC, its managing member By: /s/ Cecilio M. Rodriguez | 08/24/2009 | |
**Signature of Reporting Person | Date | |
ComVest Capital, LLC By: ComVest Capital Management LLC, its managing member By: /s/ Cecilio M. Rodriguez | 08/24/2009 | |
**Signature of Reporting Person | Date | |
ComVest Capital Management LLC By: /s/ Cecilio M. Rodriguez | 08/24/2009 | |
**Signature of Reporting Person | Date | |
/s/ Michael S. Falk, individually | 08/24/2009 | |
**Signature of Reporting Person | Date | |
/s/ Robert L. Priddy, individually | 08/24/2009 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The warrants were redeemed by the Issuer in connection with an amendment to a loan agreement between the Issuer and the Reporting Person for a redemption price of $1,000,000, which is payable pursuant to a promissory note of the Issuer due on June 30, 2010. |
(2) | The Reporting Person is a Delaware limited liability company. The managing member of the Reporting Person is ComVest Capital, LLC ("ComVest"), a Delaware limited liability company, the managing member of which is ComVest Capital Management, LLC ("Management"). Michael Falk and Robert Priddy are the Managing Members of Management. ComVest, Management, Mr. Falk and Mr. Priddy, all of whom maintain offices at the same address as the Reporting Person, are filing this Form 4 jointly with the Reporting Person. As of the date hereof, the Reporting Person directly beneficially owns 1,750,000 securities of the Issuer. ComVest, as managing member of the Reporting Person, indirectly beneficially owns such securities. Management, as managing member of ComVest, may be deemed to indirectly beneficially own such securities. (Continued in Footnote 3) |
(3) | Mr. Falk and Mr. Priddy by virtue of their status as Co-Managing Members of Management, may be deemed to have indirect beneficial ownership of the securities owned by the Reporting Person. However, Mr. Falk and Mr. Priddy disclaim any beneficial ownership of such securities, and the filing of this Form 4 shall not be deemed an admission that Mr. Falk or Mr. Priddy are, for purposes of Section 16 of the Securities Exchange Act or otherwise, the beneficial owners of any securities covered by this Form 4. |