-----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, MrXtuPVwOqhuHwavVnHNy8fVdFrqTSpoqM6PXN1TwXl5Tl1igtmgCncXJSk0iTm9 nTK80Mjigqt7ks4z476n+g== 0001144204-05-038195.txt : 20051130 0001144204-05-038195.hdr.sgml : 20051130 20051130105151 ACCESSION NUMBER: 0001144204-05-038195 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20051130 DATE AS OF CHANGE: 20051130 GROUP MEMBERS: ROBERT ELLIN GROUP MEMBERS: TRINAD ADVISORS GP, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OPTIO SOFTWARE INC CENTRAL INDEX KEY: 0001096689 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 581435435 STATE OF INCORPORATION: GA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-58243 FILM NUMBER: 051233474 BUSINESS ADDRESS: STREET 1: WINDWARD FAIRWAY II STREET 2: 3015 WINDWARD PLZ CITY: ALPHARETTA STATE: GA ZIP: 30005 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Trinad Capital L.P. CENTRAL INDEX KEY: 0001289378 IRS NUMBER: 200593276 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 153 EAST 53RD ST. STREET 2: 48TH FLOOR CITY: NEW YORK STATE: X1 ZIP: 10022 BUSINESS PHONE: 212 521 5180 MAIL ADDRESS: STREET 1: 153 EAST 53RD ST. STREET 2: 48TH FLOOR CITY: NEW YORK STATE: X1 ZIP: 10022 SC 13D/A 1 v030633_sc13d.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. 5) (1) Optio Software, Inc. ------------------------------------------------------------------------------- (Name of Issuer) Common Stock ------------------------------------------------------------------------------- (Title of Class of Securities) 68389J106 ------------------------------------------------------------------------------- (CUSIP Number) Jay Wolf c/o Trinad Capital LP 153 East 53rd St., 48th Floor New York, NY 10022 (212) 521-5180 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 28, 2005 ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(c), 13d-1(f) or 13d-1(g), check the following box. |_| Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. - --------------- (1) 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 in 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 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. 68389J106 13D - ------------------------------------- ------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Trinad Capital LP 20-0593276 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 3,003,147 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 3,003,147 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,003,147 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.07% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (1) On the basis of 21,330,835 shares of Common Stock reported by the Company to be issued and outstanding as of September 12, 2005 in the Company's Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on September 14, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------------- ------------------------------------- CUSIP No. 68389J106 13D - ------------------------------------- ------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Trinad Advisors GP, LLC 10-0591650 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER 3,003,147 OWNED BY ------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 3,003,147 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,003,147 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.07% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- (1) On the basis of 21,330,835 shares of Common Stock reported by the Company to be issued and outstanding as of September 12, 2005 in the Company's Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on September 14, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------------- ------------------------------------- CUSIP No. 68389J106 13D - ------------------------------------- ------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Robert Ellin N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER 0 SHARES ------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER 3,003,147 OWNED BY ------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER 0 REPORTING ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 3,003,147 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,003,147 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.07% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (1) On the basis of 21,330,835 shares of Common Stock reported by the Company to be issued and outstanding as of September 12, 2005 in the Company's Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on September 14, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! INTRODUCTORY STATEMENT This Amendment No. 5 to Schedule 13D (this "Amendment"), amends the Schedule 13D filed on November 12, 2004, as amended by Amendment No. 1, which was filed with the Securities and Exchange Commission (the "SEC") on March 14, 2005, Amendment No.2, which was filed with the SEC on May 25, 2005, Amendment No. 3, which was filed with the SEC on August 17, 2005 and Amendment No. 4, which was filed with the SEC on October 3, 2005 (the "Schedule 13-D"), filed jointly by Trinad Capital LP, Trinad Advisors GP, LLC and Robert Ellin (collectively, the "Reporting Persons"). This Amendment relates to the common stock, no par value per share (the "Common Stock"), of Optio Software, Inc., a Georgia corporation (the "Company"). The principal executive offices of the Company are located at 3015 Windward Plaza, Fairways II, Alpharetta, GA, 30005. This Amendment amends Item 4 and amends and restates in its entirety Item 5 of the Schedule 13-D. Except as provided herein, the Schedule 13-D remains in full force and effect. The purpose of this Schedule 13D/A is to reflect (i) the beneficial ownership of the Common Stock by certain of the Reporting Persons and (ii) a letter that was sent on November 29, 2005 by the Reporting Persons, to the Board of Directors of Optio Software, Inc. Item 4. Purpose of Transaction. Item 4 of the Schedule 13-D is hereby amended to reflect the following transactions. All of the shares of Common Stock reported herein were acquired for investment purposes. On each of the following dates and at the following prices per share Trinad Capital, LP made purchases of Common Stock on the open market with its working capital: Date Number of Shares Acquired Price Per Share ---------- ------------------------- --------------- 09/28/2005 3,000 1.0767 09/29/2005 20,000 1.0855 09/29/2005 1,000 1.1000 09/30/2005 50,000 1.1147 09/30/2005 8,300 1.1017 10/03/2005 25,000 1.2136 10/03/2005 4,000 1.1550 10/06/2005 1,000 1.1000 10/10/2005 3,500 1.0714 10/11/2005 34,000 1.1007 10/12/2005 20,000 1.1107 10/12/2005 1,000 1.1500 10/13/2005 3,000 1.1500 10/21/2005 20,000 1.1026 10/24/2005 15,000 1.0780 10/25/2005 10,000 1.0715 10/27/2005 40,000 1.0979 10/27/2005 12,100 1.1169 10/28/2005 30,000 1.1295 10/28/2005 3,000 1.1533 10/31/2005 25,000 1.1141 10/31/2005 25,000 1.1306 10/31/2005 7,900 1.1433 11/02/2005 15,000 1.1600 11/02/2005 3,000 1.1467 11/03/2005 10,000 1.1165 11/10/2005 10,000 1.1365 11/10/2005 4,100 1.1400 11/11/2005 2,000 1.1300 11/16/2005 25,000 1.1223 11/16/2005 1,000 1.1500 11/18/2005 1,000 1.1300 On November 29, 2005, the Reporting Persons sent a letter to the Board of Optio expressing concern about its belief that the common stock of Optio is severely undervalued. In order to increase shareholder value, the letter encouraged the Board to consider certain corporate actions, including a stock repurchase program and to actively consider strategic acquisitions or joint venture/business combinations to increase revenue and create growth opportunities. A copy of the letter is attached hereto as Exhibit A. Item 5. Interest in Securities of the Issuer. (a) and (b) As of the date hereof, Trinad Capital LP, Trinad Advisors GP, LLC (as the general partner of Trinad Capital LP) and Robert Ellin (as a Managing Member of Trinad Advisors GP, LLC) are deemed to beneficially own an aggregate of 3,003,147 shares of Common Stock, representing approximately 14.07% of the number of shares of Common Stock stated to be outstanding by the Company in its Quarterly Report on Form 10-Q, as filed with the SEC on September 14, 2005. Trinad Capital LP is deemed to be the direct beneficial owner of 3,003,147 shares of Common Stock. Trinad Advisors GP, LLC is deemed to be the indirect beneficial owner of 3,003,147 shares of Common Stock. Robert Ellin is deemed to be the indirect beneficial owner of 3,003,147 shares of Common Stock. Each of Trinad Advisors GP, LLC and Robert Ellin disclaim beneficial ownership of the shares of Common Stock directly beneficially owned by Trinad Capital LP (except for (i) the indirect interest of Trinad Advisors GP, LLC by virtue of being the general partner of Trinad Capital LLC, (ii) the indirect interest of Robert Ellin by virtue of being a member of Trinad Advisors GP, LLC, and (iii) the indirect interest of Robert Ellin by virtue of being a limited partner of Trinad Capital LP). Trinad Advisors GP, LLC and Robert Ellin have shared power to direct the vote and shared power to direct the disposition of these shares of Common Stock. (c) Other than as set forth in this Report, the Reporting Persons have not effected any transactions in the shares of the Company's equity securities within the past 60 days. (d) Not applicable. (e) Not applicable. 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. Trinad Capital LP November 30, 2005 By: /s/ Jay Wolf ---------------------------------------------- Name: Jay Wolf Title: Managing Director of Trinad Advisors GP, LLC, the General Partner of Trinad Capital LP Trinad Advisors GP, LLC November 30, 2005 By: /s/ Jay Wolf ---------------------------------------------- Name: Jay Wolf Title: Managing Director Robert Ellin November 30, 2005 By: /s/ Robert Ellin ---------------------------------------------- Name: Robert Ellin The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of the filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). EX-99.1 2 v030633_ex99-1.txt Trinad Capital Master Fund Ltd. 153 East 53rd Street 48th Floor New York, NY 10019 November 29, 2005 Wayne Cape Chief Executive Officer Optio Software, Inc. Windward Fairway II 3015 Windward Plaza Alpharetta, GA 30005 Attention: Board of Directors of Optio Software, Inc. Gentlemen: As you are aware, Trinad Capital Master Fund Ltd. and its affiliates ("Trinad" or "we"), is a significant shareholder of Optio Software, Inc. ("Optio" or the "Company"), and has been a strong supporter of Optio throughout 2005. While we believe that management is currently doing a good job of running the business, we believe that the common stock of Optio is severely undervalued. Given the stock's current value and the Company's strong cash position, we would like to take this opportunity to encourage management to consider and explore, as appropriate, a number of strategic alternatives in order to increase and maximize shareholder value. We believe increased value could be achieved through a number of corporate actions, including a stock repurchase program whereby Optio uses a portion of its cash position to support the market and convey its belief that the stock is undervalued. In addition, Optio should actively consider strategic acquisitions or joint venture/business combinations as part of increasing revenue and creating growth opportunities. We would like to reiterate our support of Optio's management, operations and prospects. We truly hope you consider our suggestions in order to increase shareholder value. Thank you for your time and consideration. Very truly yours, TRINAD CAPITAL MASTER FUND LTD. By: Trinad Capital L.P. By: Trinad Advisors GP LLC By: /s/ Jay Wolf ------------------------------- Name: Jay A. Wolf Title: Managing Director -----END PRIVACY-ENHANCED MESSAGE-----