-----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, TY8AmjZsIvkj7wzbBTXrNTJc1OrA/wSrTQwQ1NH6qQtQQg/KL7EG1FVSmUCOrMe7 ieeVYHkpfcQ/2gmhSe6AyA== 0000950136-04-000038.txt : 20040109 0000950136-04-000038.hdr.sgml : 20040109 20040109170407 ACCESSION NUMBER: 0000950136-04-000038 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040109 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ISLAND PACIFIC INC CENTRAL INDEX KEY: 0000866535 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 330896617 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45978 FILM NUMBER: 04518871 BUSINESS ADDRESS: STREET 1: 3252 HOLIDAY COURT STREET 2: STE 208 CITY: LA JOLLA STATE: CA ZIP: 92037 BUSINESS PHONE: 8585503345 MAIL ADDRESS: STREET 1: 3252 HOLIDAY COURT STREET 2: STE 208 CITY: LA JOLLA STATE: CA ZIP: 92037 FORMER COMPANY: FORMER CONFORMED NAME: SVI SOLUTIONS INC DATE OF NAME CHANGE: 20010404 FORMER COMPANY: FORMER CONFORMED NAME: SVI HOLDINGS INC DATE OF NAME CHANGE: 19940207 FORMER COMPANY: FORMER CONFORMED NAME: WILSON CAPITAL INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: 033 ASSET MANAGEMENT LLC / CENTRAL INDEX KEY: 0001114831 IRS NUMBER: 043502120 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 125 HIGH ST STREET 2: SUITE 1405 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6173712015 MAIL ADDRESS: STREET 1: 125 HIGH ST STREET 2: SUITE 1405 CITY: BOSTON STATE: MA ZIP: 02110 SC 13D/A 1 file001.txt SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (RULE 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 1)(1) ISLAND PACIFIC, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK - -------------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 464478106 - -------------------------------------------------------------------------------- (CUSIP NUMBER) 033 ASSET MANAGEMENT, LLC 125 HIGH STREET, SUITE 1405 BOSTON, MASSACHUSETTS 02110 - -------------------------------------------------------------------------------- (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICE AND COMMUNICATIONS) - with copies to - MICHAEL G. TANNENBAUM, ESQ. TANNENBAUM HELPERN SYRACUSE & HIRSCHTRITT 900 THIRD AVENUE - 13TH FLOOR NEW YORK, NEW YORK 10022 (212) 508-6700 DECEMBER 31, 2003 - -------------------------------------------------------------------------------- (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(e), 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). ---------------------- Page 1 of 5 Pages ----------------------
- ---------------------------------------- -------------------------------------- CUSIP No. 464478106 Page 2 of 5 Pages - ---------------------------------------- -------------------------------------- - --------- ------------------------------------------------------------------------------------------------------------ 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 033 ASSET MANAGEMENT, LLC - --------- ------------------------------------------------------------------------------------------------------------ 2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) (b) INAPPLICABLE - --------- ------------------------------------------------------------------------------------------------------------ 3. SEC USE ONLY - --------- ------------------------------------------------------------------------------------------------------------ 4. SOURCES 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, USA - ------------------- ----- -------------------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER 5,354,700 SHARES ----- -------------------------------------------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER -- OWNED BY ----- -------------------------------------------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER 5,354,700 REPORTING ----- -------------------------------------------------------------------------------------------- PERSON WITH 10. SHARED DISPOSITIVE POWER -- - --------- ------------------------------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,354,700 - --------- ------------------------------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------- ------------------------------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 11.3% - --------- ------------------------------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON* OO - --------- ------------------------------------------------------------------------------------------------------------ * SEE INSTRUCTIONS BEFORE FILLING OUT!
- ------------------------------ ------------------------------- CUSIP No. 464478106 Page 3 of 5 Pages - ------------------------------ ------------------------------- This Amendment No. 1 to Schedule 13D amends the Schedule 13D filed by 033 Asset Management LLC with the Securities and Exchange Commission on or about September 11, 2003 to report the acquisition of shares of the Issuer's common stock as of December 31, 2003. ITEM 1 SECURITY AND ISSUER Title of Class of Securities Common stock $0.0001 par value per share (the "Shares") Name and Address of Issuer Island Pacific, Inc. 19800 MacArthur Boulevard Irvine, California 92612 ITEM 2 IDENTITY AND BACKGROUND (a) 033 Asset Management, LLC (the "Manager") (b) 125 High Street, Suite 1405 Boston, Massachusetts 02110 (c) The Manager serves as an investment manager to investment vehicles. (d) - (e) During the last five years, neither the Manager nor any of its principals, nor any family members of principals of the Manager who own, directly or beneficially, shares of the Issuer, to the best of its, his or her knowledge, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any of the foregoing was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Delaware, USA ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The Manager is the investment manager of (i) 033 Growth Partners I, L.P., (ii) 033 Growth Partners II, L.P., (iii) Oyster Pond Partners, L.P. and (iv) 033 Growth International Fund, Ltd. (together, the "Funds"). As of December 31, 2003, the Manager caused the Funds to purchase from their respective working capital the number of Shares for the aggregate purchase prices set forth below opposite respective their names. - ------------------------------- ------------------------------------ CUSIP No. 464478106 Page 4 of 5 Pages - ------------------------------- ------------------------------------ Fund # of Shares Purchase Price - ---- ----------- -------------- 033 Growth Partners I, L.P. 2,887,033 $5,254,400 033 Growth Partners II, L.P. 806,244 $1,483,489 Oyster Pond Partners, L.P. 401,222 $ 738,248 033 Growth International Fund, Ltd. 1,260,201 $2,759,290 ITEM 4 PURPOSE OF TRANSACTION The Manager intends to evaluate the business and business prospects of the Issuer and its present and future interest in, and intentions with respect to, the Issuer, and in connection therewith may from time to time consult with management and other shareholders of the Issuer. Other than as described above, the Manager does not have any plans or proposals, which would result in any of the following: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) changes in the Issuer's charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an interdealer quotation - ------------------------------- ---------------------------- CUSIP No. 464478106 Page 5 of 5 Pages - ------------------------------- ---------------------------- (i) system of a registered national securities association; (j) causing a class of securities of the Issuer to become eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (k) any action similar to any of those enumerated above. ITEM 5 INTEREST IN SECURITIES OF THE ISSUER (a)-(b) The Manager may be deemed, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, to be the beneficial owner of an aggregate of 5,354,700 Shares, representing approximately 11.3% of the outstanding Shares (based upon 47,472,554 Shares outstanding as reported on the Issuer's latest Quarterly Report on Form 10-Q dated November 12, 2003), owned by the Funds. The Manager disclaims any economic interest or beneficial ownership of the Shares covered by this Statement. (a) None. (b) Inapplicable. (c) Inapplicable. ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER None. ITEM 7 MATERIAL TO BE FILED AS EXHIBITS None. 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. January 8, 2004 --------------------------- (Dated) /s/ Lawrence C. Longo --------------------------- (Signature) Chief Operating Officer --------------------------- (Title) -----END PRIVACY-ENHANCED MESSAGE-----