-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RaqCFHVcQURVVDrT0M7AyIgVcY/wO0RZTjhV15/aqMLt+N7HxhDDZFsMTYjRXKIe 3s0W8zmlXBAbT1AZGCyysQ== 0000899140-06-001160.txt : 20060807 0000899140-06-001160.hdr.sgml : 20060807 20060807171848 ACCESSION NUMBER: 0000899140-06-001160 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060807 DATE AS OF CHANGE: 20060807 GROUP MEMBERS: DANIEL S. LOEB GROUP MEMBERS: THIRD POINT OFFSHORE FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Industrial Enterprises of America, Inc. CENTRAL INDEX KEY: 0001059677 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS PRODUCTS OF PETROLEUM & COAL [2990] IRS NUMBER: 133963499 STATE OF INCORPORATION: NV FISCAL YEAR END: 0606 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80377 FILM NUMBER: 061010016 BUSINESS ADDRESS: STREET 1: 711 THIRD AVENUE, SUITE 1505 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: (212) 490-3100 MAIL ADDRESS: STREET 1: 711 THIRD AVENUE, SUITE 1505 CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: ADVANCED BIO/CHEM INC DATE OF NAME CHANGE: 20030708 FORMER COMPANY: FORMER CONFORMED NAME: CIRO INTERNATIONAL INC DATE OF NAME CHANGE: 19991229 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Third Point LLC CENTRAL INDEX KEY: 0001040273 IRS NUMBER: 133922602 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 390 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2122247400 MAIL ADDRESS: STREET 1: 390 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: THIRD POINT MANAGEMENT CO LLC DATE OF NAME CHANGE: 19970602 SC 13G/A 1 t3359912b.txt FIRST AMENDMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Amendment No. 1) Under the Securities Exchange Act of 1934* Industrial Enterprises of America, Inc. --------------------------------------- (Name of Issuer) Common Stock, par value $0.001 per share ---------------------------------------- (Title of Class of Securities) 456132208 --------- (CUSIP Number) July 27, 2006 ------------- (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) [X] Rule 13d-1(c) [ ] 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 on 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 (the "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. 456132208 13G Page 2 of 8 Pages - ------------------------------------ ------------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Third Point LLC - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 500,000 OWNED BY EACH ------ ------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 500,000 - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 500,000 - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - ---------- --------------------------------------------------------------------- - ------------------------------------ ------------------------ CUSIP No. 456132208 13G Page 3 of 8 Pages - ------------------------------------ ------------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Daniel S. Loeb - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 500,000 OWNED BY EACH ------ ------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 500,000 - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 500,000 - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.9% - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - ---------- --------------------------------------------------------------------- - ------------------------------------ ------------------------ CUSIP No. 456132208 13G Page 4 of 8 Pages - ------------------------------------ ------------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Third Point Offshore Fund, Ltd. - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 0 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 316,750 OWNED BY EACH ------ ------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 316,750 - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 316,750 - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.6% - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - ---------- --------------------------------------------------------------------- This Amendment No. 1 to Schedule 13G (this "Amendment No. 1") is being filed with respect to the Common Stock of Industrial Enterprises of America, Inc., a Nevada corporation (the "Company") to amend the Schedule 13G filed on June 12, 2006 (the "Schedule 13G"). Capitalized terms used herein and not otherwise defined have the meanings ascribed thereto in the Schedule 13G. Item 2(a): Name of Person Filing: - --------- --------------------- Item 2(a) of the Schedule 13G is hereby amended by adding the following after clause (ii) thereof: (iii) Third Point Offshore Fund, Ltd., a Cayman Islands limited liability exempted company (the "Offshore Fund") which invests and trades in securities, with respect to shares of Common Stock directly beneficially owned by it. Item 2(a) of the Schedule 13G is also hereby amended by deleting the entirety of the last paragraph thereof and replacing it with the following: The Management Company, Mr. Loeb and the Offshore Fund are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. Item 2(b): Address of Principal Business Office or, if None, Residence: - --------- ----------------------------------------------------------- Item 2(b) of the Schedule 13G is hereby amended by adding the following after the last sentence thereof: The address of the principal business office of the Offshore Fund is c/o Walkers SPV Limited, Walker House, Mary Street, P.O. Box 908GT, George Town, Grand Cayman, Cayman Islands, British West Indies. Item 2(c): Citizenship: - --------- ------------ Item 2(c) of the Schedule 13G is hereby amended by adding the following after the last sentence thereof: The Offshore Fund is organized as a limited liability exempted company under the laws of the Cayman Islands. -5- Item 4: Ownership: - ------ --------- Item 4 of the Schedule 13G is hereby amended by deleting the entirety of the text thereof and replacing it with the following: The beneficial ownership of Common Stock by the Reporting Persons, as of the date of this Amendment No. 1 is as follows: A. Third Point LLC --------------- (a) Amount beneficially owned: 500,000 (b) Percent of class: 8.9%. The percentages used herein and in the rest of this Schedule 13G are calculated based upon the 5,622,700 shares of Common Stock issued and outstanding as of May 18, 2006, as reflected in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2006. (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 500,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 500,000 B. Daniel S. Loeb -------------- (a) Amount beneficially owned: 500,000 (b) Percent of class: 8.9%. (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 500,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 500,000 C. Third Point Offshore Fund, Ltd. ------------------------------- (a) Amount beneficially owned: 316,750 (b) Percent of class: 5.6%. (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 316,750 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 316,750 Other than the Offshore Fund, none of the Funds owns a number of shares of Common Stock equal to or greater than 5% of such total Common Stock outstanding. -6- Item 10: Certification: - ------- -------------- Each of the Reporting Persons hereby makes the following certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. -7- 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. Dated: August 7, 2006 THIRD POINT LLC By: /s/ Daniel S. Loeb ------------------------------------------ Name: Daniel S. Loeb Title: Chief Executive Officer THIRD POINT OFSHORE FUND, LTD. By: /s/ Daniel S. Loeb ------------------------------------------ Name: Daniel S. Loeb Title: Director /s/ Daniel S. Loeb ---------------------------------------------- Daniel S. Loeb [SIGNATURE PAGE TO AMENDMENT NO. 1 TO SCHEDULE 13G WITH RESPECT TO INDUSTRIAL ENTERPRISES OF AMERICA, INC.] EXHIBIT INDEX ------------- Exhibit 99.1: Joint Filing Agreement, dated August 7, 2006, by and between Third Point LLC, Third Point Offshore Fund, Ltd. and Daniel S. Loeb. EX-99.1 3 t3359912c.txt JOINT FILING AGREEMENT Exhibit 99.1 ------------ JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1) ---------------------------- The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that it knows or has reason to believe that such information is inaccurate. This Agreement may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument. Dated: August 7, 2006 THIRD POINT LLC By: /s/ Daniel S. Loeb ------------------------------------------ Name: Daniel S. Loeb Title: Chief Executive Officer THIRD POINT OFSHORE FUND, LTD. By: /s/ Daniel S. Loeb ------------------------------------------ Name: Daniel S. Loeb Title: Director /s/ Daniel S. Loeb ---------------------------------------------- Daniel S. Loeb [JOINT FILING AGREEMENT OF AMENDMENT NO. 1 TO SCHEDULE 13G WITH RESPECT TO INDUSTRIAL ENTERPRISES OF AMERICA, INC.] -----END PRIVACY-ENHANCED MESSAGE-----