-----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, F5thjgaOzzkZRCQgMzHS7v1+CA33EpJFsle6uLJWO6FPaoBhiXbyr2BhUtKKiNKh iLl/dLmAbM5T2iIbsRxr5A== 0000911420-06-000353.txt : 20060602 0000911420-06-000353.hdr.sgml : 20060602 20060602160139 ACCESSION NUMBER: 0000911420-06-000353 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060602 DATE AS OF CHANGE: 20060602 GROUP MEMBERS: COMVEST CAPITAL LLC GROUP MEMBERS: COMVEST CAPITAL MANAGEMENT LLC GROUP MEMBERS: COMVEST GROUP HOLDINGS, LLC GROUP MEMBERS: MICHAEL S. FALK SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UCN INC CENTRAL INDEX KEY: 0001087934 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 870528557 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-61369 FILM NUMBER: 06883423 BUSINESS ADDRESS: STREET 1: 14870 PONY EXPRESS ROAD STREET 2: NONE CITY: BLUFFDALE STATE: UT ZIP: 84065 BUSINESS PHONE: (801) 320-3300 MAIL ADDRESS: STREET 1: 14870 PONY EXPRESS ROAD STREET 2: NONE CITY: BLUFFDALE STATE: UT ZIP: 84065 FORMER COMPANY: FORMER CONFORMED NAME: BUYERS UNITED INC DATE OF NAME CHANGE: 20011126 FORMER COMPANY: FORMER CONFORMED NAME: BUYERSONLINECOM INC DATE OF NAME CHANGE: 20000823 FORMER COMPANY: FORMER CONFORMED NAME: BUI INC DATE OF NAME CHANGE: 19990728 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ComVest Capital, LLC CENTRAL INDEX KEY: 0001362707 IRS NUMBER: 510567247 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: ONE NORTH CLEMATIS STREET STREET 2: SUITE 300 CITY: WEST PALM BEACH STATE: FL ZIP: 33401 BUSINESS PHONE: 561-868-6060 MAIL ADDRESS: STREET 1: ONE NORTH CLEMATIS STREET STREET 2: SUITE 300 CITY: WEST PALM BEACH STATE: FL ZIP: 33401 SC 13G 1 d1186100.txt SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 SCHEDULE 13G UCN, Inc. ------------------------------------------------------------------------------ (Name of Issuer) Common Stock, $.0001 Par Value Per Share ------------------------------------------------------------------------------- (Title of Class of Securities) 902636109 - ------------------------------------------------------------------------------- (CUSIP Number of Class of Securities) May 23, 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) CUSIP NO. 902636109 Page 2 of 8 - -------------------------------------------------------------------------------- 1) Name And I.R.S. Identification No. Of Reporting Person ComVest Capital LLC (51-0567247) - -------------------------------------------------------------------------------- 2) Check The Appropriate Box If A Member Of A Group (See Instructions) (a) (b) [X] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship Or Place Of Organization: Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 5) Sole Voting Power: 1,830,000 Shares BENEFICIALLY OWNED ----------------------------------------------------- 6) Shared Voting Power: BY EACH ----------------------------------------------------- 7) Sole Dispositive Power: REPORTING 1,830,000 Shares PERSON WITH ----------------------------------------------------- 8) Shared Dispositive Power: - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned By Each Reporting Person : 1,830,000 Shares - -------------------------------------------------------------------------------- 10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares |_| See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row (9): 6.8% of Common Stock - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) OO - -------------------------------------------------------------------------------- CUSIP NO. 902636109 Page 3 of 8 - -------------------------------------------------------------------------------- 1) Name And I.R.S. Identification No. Of Reporting Person (entities only) ComVest Capital Management LLC (51-0567244) - -------------------------------------------------------------------------------- 2) Check The Appropriate Box If A Member Of A Group (See Instructions) (a) (b) [X] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship Or Place Of Organization: Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 5) Sole Voting Power: 0 BENEFICIALLY OWNED ----------------------------------------------------- 6) Shared Voting Power: BY EACH 1,830,000 Shares ----------------------------------------------------- REPORTING 7) Sole Dispositive Power: 0 PERSON WITH ----------------------------------------------------- 8) Shared Dispositive Power: 1,830,000 Shares - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned By Each Reporting Person : 1,830,000 Shares - -------------------------------------------------------------------------------- 10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares |_| See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row (9): 6.8% of Common Stock - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) OO - -------------------------------------------------------------------------------- CUSIP NO. 902636109 Page 4 of 8 - -------------------------------------------------------------------------------- 1) Name And I.R.S. Identification No. Of Reporting Person (entities only) ComVest Group Holdings, LLC (01-0622406) - -------------------------------------------------------------------------------- 2) Check The Appropriate Box If A Member Of A Group (See Instructions) (a) (b) [X] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship Or Place Of Organization: Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 5) Sole Voting Power: 0 BENEFICIALLY OWNED ----------------------------------------------------- 6) Shared Voting Power: BY EACH 1,830,000 Shares ----------------------------------------------------- REPORTING 7) Sole Dispositive Power: 0 PERSON WITH ----------------------------------------------------- 8) Shared Dispositive Power: 1,830,000 Shares - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned By Each Reporting Person : 1,830,000 Shares - -------------------------------------------------------------------------------- 10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares |_| See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row (9): 6.8% of Common Stock - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) OO - -------------------------------------------------------------------------------- CUSIP NO. 902636109 Page 5 of 8 - -------------------------------------------------------------------------------- 1) Name And I.R.S. Identification No. Of Reporting Person (entities only) Michael S. Falk - -------------------------------------------------------------------------------- 2) Check The Appropriate Box If A Member Of A Group (See Instructions) (a) (b) [X] - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship Or Place Of Organization: USA - -------------------------------------------------------------------------------- NUMBER OF SHARES 5) Sole Voting Power: 0 BENEFICIALLY OWNED ----------------------------------------------------- 6) Shared Voting Power: BY EACH 1,830,000 Shares ----------------------------------------------------- REPORTING 7) Sole Dispositive Power: 0 PERSON WITH ----------------------------------------------------- 8) Shared Dispositive Power: 1,830,000 Shares - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned By Each Reporting Person : 1,830,000 Shares - -------------------------------------------------------------------------------- 10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares |_| See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row (9): 6.8% of Common Stock - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 6 of 8 ITEM 1(a). Name of Issuer: UCN, Inc. ITEM 1(b). Address of Issuer's Principal Executive Offices: 14870 Pony Express Road, Bluffdale, Utah 84065 ----------------------------------------------------------------------- ITEM 2(a). Names of Persons Filing: ComVest Capital LLC ("ComVest") ----------------------------------------------------------------------- ComVest Capital Management LLC ("Management") ----------------------------------------------------------------------- ComVest Group Holdings, LLC ("CGH") ----------------------------------------------------------------------- Michael S. Falk ----------------------------------------------------------------------- ITEM 2(b). Address of Principal Business Office or, if None, Residence: One North Clematis, Suite 300, West Palm Beach, Florida 33401 ----------------------------------------------------------------------- ITEM 2(c). Citizenship: Management, ComVest and CGH are Delaware Limited Liability Companies. Michael S. Falk is a U.S. citizen. ----------------------------------------------------------------------- ITEM 2(d). Title of Class of Securities: Common Stock, $.0001 Par Value Per Share ----------------------------------------------------------------------- ITEM 2(e). CUSIP Number: 902636109 ITEM 3. If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is: The reporting persons are a group for purposes of the filing of this statement. ITEM 4. Ownership: (a) Amount beneficially owned by all reporting persons: 1,830,000 Shares (b) Percent of class: 6.8% of Common Stock (c) Number of shares as to which the reporting persons have: (i) sole power to vote or to direct the vote: 1,830,000 Shares (ii) shared power to vote or to direct the vote Page 7 of 8 (iii) sole power to dispose or to direct the disposition: 1,830,000 Shares (iv) shared power to dispose or to direct the disposition ITEM 5. Ownership of five percent or less of a class. If this statement is being filed to reflect the fact that as of the date hereof the reporting person has ceased to be the owner of more than five percent of the class of securities, check the following: [ ]. ITEM 6. Ownership of more than five percent on behalf of another person. Not applicable. 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. The reporting persons are a group for purposes of filing this Statement. See Exhibit I attached hereto. ITEM 9. Notice of dissolution of group. Not applicable. ITEM 10. Certifications. 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 or as a participant in any transaction having that purpose or effect. 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: Juhe 2, 2006 ComVest Capital LLC By: ComVest Capital Management LLC, its managing member By: /s/Michael S. Falk Michael S. Falk, Managing Member ComVest Capital Management LLC By /s/Michael S. Falk Michael S. Falk, Managing Member ComVest Group Holdings LLC By:/s/Michael S. Falk Michael S. Falk, Chairman /s/Michael S. Falk ---------------------------------- Michael S. Falk, individually EX-1 2 e1187256.txt EXHIBIT 1 Exhibit 1 The name of the Reporting Person is ComVest Capital LLC, a Delaware limited liability company ("ComVest"). ComVest is a private investment company. The managing member of ComVest is ComVest Capital Management LLC, a Delaware limited liability company ("Management"), the managing member of which is ComVest Group Holdings, LLC, a Delaware limited liability company ("CGH"). Michael Falk ("Falk") is the Chairman and principal member of CGH. Falk is a citizen of the United States of America. On May 23, 2006 in connection with a lending facility, ComVest was issued a promissory note by the Issuer in the principal amount of $4,500,000 which is convertible into 1,500,000 shares of the Issuer's common stock. In addition ComVest was issued warrants for the purchase of 330,000 shares of common stock at an exercise price of $2.75 per share. -----END PRIVACY-ENHANCED MESSAGE-----