SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
EMPIRE CAPITAL PARTNERS LP

(Last) (First) (Middle)
C/O EMPIRE G P LLC
1 GORHAM ISLAND

(Street)
WESTPORT CT 06880

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
DIGITAL VIDEO SYSTEMS INC [ DVID ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
02/09/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/09/2005 P 100 A $4.5 111,570 I See footnote(1)(2)(4)
Common Stock 02/10/2005 P 100 A $4.5 111,670 I See footnote(1)(2)(4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: 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
Series C Convertible Preferred Stock $0 12/27/2004(3)(5) 09/19/2009 Common Stock(1)(2)(4) 57,379 172,137 I See footnotes
Warrants $6.1 12/27/2004 09/19/2009 Common Stock(1)(2)(4) 86,067 86,067 I See footnotes
Explanation of Responses:
1. The Shares of Common Stock to which this note relates are held directly by Empire Capital Partners, L.P. a Delaware limited partnership ("Empire") as to 75,129 shares; Empire Capital Partners Ltd., a Cayman Islands exempted company ("Offshore"), as to 6,475 shares; Empire Capital Partners II, Ltd., a Cayman Islands exempted company ("Offshore II") as to 610 shares, Charter Oak Partners, LP, a Delaware limited partnership ("Charter Oak") as to 27,332 shares and Charter Oak Partners II LP, a Delaware limited partnership ("Charter Oak II") as to 1,924 shares.
2. Empire GP, L.L.C. (the "General Partner") serves as the general partner of Empire Capital, and has investment discretion over the securities held by, Empire Capital. Empire Capital Management L.L.C. (the "Investment Manager") serves as investment manager to, and has investment discretion over the securities held by, Offshore I and Offshore II and certain accounts owned by Charter Oak and Charter Oak II. Scott Fine and Peter Richards are the managing members of the General Partner and the Investment Manager.
3. The Series C Convertible Preferred Stock (the "Preferred Shares") and the warrants (the "Warrants") to which this note relates are held directly by Empire Capital Partners, L.P. a Delaware limited partnership ("Empire") as to 50,109 Preferred Shares and 25,054 Warrants; Empire Capital Partners Ltd., a Cayman Islands exempted company ("Offshore"), as to 93,431 Preferred Shares and 46,715 Warrants; Empire Capital Partners II, Ltd., a Cayman Islands exempted company ("Offshore II") as to 17,406 Preferred Shares and 8,703 Warrants, Charter Oak Partners, LP, a Delaware limited partnership ("Charter Oak") as to 9,293 Preferred Shares and 4,646 Warrants, Charter Oak Partners II LP, a Delaware limited partnership ("Charter Oak II") as to 1,898 preferred Shares and 949 Warrants.
4. The Reporting Persons disclaims beneficial ownership of any of the Issuer's securities owned by the Fund to which this form relates for purpose of Section 16 of the Securities Exchange Act of 1934, as amended.
5. There is no expiration date for these securities.
/s/ Scott A. Fine, Member of Empire GP, L.L.C., general partner of Empire Capital Partners, L.P. 02/24/2005
/s/ Peter J. Richards, Member of Empire GP, L.L.C., general partner of Empire Capital Partners, L.P. 02/24/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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