0001169232-05-001764.txt : 20120618 0001169232-05-001764.hdr.sgml : 20120618 20050322131058 ACCESSION NUMBER: 0001169232-05-001764 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050322 DATE AS OF CHANGE: 20050322 GROUP MEMBERS: DAVID FIRESTONE GROUP MEMBERS: MERCATOR MOMENTUM FUND III, L.P. GROUP MEMBERS: MERCATOR MOMENTUM FUND, L.P. GROUP MEMBERS: MONARCH POINTE FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL EPOINT INC CENTRAL INDEX KEY: 0000896195 STANDARD INDUSTRIAL CLASSIFICATION: REFRIGERATION & SERVICE INDUSTRY MACHINERY [3580] IRS NUMBER: 330423037 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44091 FILM NUMBER: 05696213 BUSINESS ADDRESS: STREET 1: ATTN: JOHN PAN STREET 2: 339 S. CHERYL LANE CITY: CITY OF INDUSTRY STATE: CA ZIP: 91789 BUSINESS PHONE: 909-869-1688 MAIL ADDRESS: STREET 1: ATTN: JOHN PAN STREET 2: 339 S. CHERYL LANE CITY: CITY OF INDUSTRY STATE: CA ZIP: 91789 FORMER COMPANY: FORMER CONFORMED NAME: ON POINT TECHNOLOGY SYSTEMS INC DATE OF NAME CHANGE: 19980331 FORMER COMPANY: FORMER CONFORMED NAME: LOTTERY ENTERPRISES INC DATE OF NAME CHANGE: 19930426 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: M.A.G. Capital, LLC CENTRAL INDEX KEY: 0001218181 IRS NUMBER: 300021359 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 555 S. FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 2135338288 MAIL ADDRESS: STREET 1: 555 SOUTH FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: MERCATOR ADVISORY GROUP LLC DATE OF NAME CHANGE: 20030210 SC 13G/A 1 d63059_sc13ga.txt AMENDMENT NO. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) GLOBAL ePOINT, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 00037940U1 (CUSIP Number) December 31, 2004 (Date of Event Which Requires Filing of this Statement) |_| Rule 13d-1(b) |X| Rule 13d-1(c) |_| Rule 13d-1(d) CUSIP No. 00037940U1 13G Page 2 of 13 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Mercator Momentum Fund, L.P. EIN:03-0021366 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION California -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 248,564 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 248,564 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 248,564 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.05% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -2- CUSIP No. 00037940U1 13G Page 3 of 13 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Mercator Momentum Fund III, L.P. EIN:32-0056070 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION California -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 285,007 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 285,007 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 285,007 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.35% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -3- CUSIP No. 00037940U1 13G Page 4 of 13 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Monarch Pointe 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 British Virgin Islands -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 744,759 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 744,759 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 744,759 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.91% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -4- CUSIP No. 00037940U1 13G Page 5 of 13 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) M.A.G. Capital, LLC EIN: 300021359 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION California -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 810,759, some of which are held by Mercator Momentum Fund and Mercator Momentum Fund III (together, the "Funds"), some EACH of which are owned by Monarch Pointe Fund, Ltd. ("MPF"), and some of which are owned by M.A.G. Capital, LLC ("MAG"). MAG REPORTING is the general partner of the Funds and controls the investments of MPF. PERSON ----------------------------------------------------------------- 7. SOLE DISPOSITIVE POWER WITH 0 ----------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 810,759, some of which are held by the Funds, some by MPF and some by MAG. -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 810,759 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.27% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -5- CUSIP No. 00037940U1 13G Page 6 of 13 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) David F. Firestone -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION USA -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 810,759, all of which are held by the Funds, MPF and MAG. David F. Firestone is Managing Member of MAG. EACH ----------------------------------------------------------------- 7. SOLE DISPOSITIVE POWER REPORTING 0 PERSON ----------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER WITH 810,759, all of which are held by the Funds, MPF and MAG. David F. Firestone is Managing Member of MAG. -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 810,759 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.27% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -6- CUSIP No. 00037940U1 13G Page 7 of 13 Pages This statement is hereby amended and restated in its entirety as follows: Item 1. Issuer. (a) The name of the issuer is Global ePoint, Inc. (the "Issuer"). (b) The address of the Issuer's principal executive office is 339 S. Cheryl Lane, City of Industry, California 91789. Item 2. Reporting Person and Security. (a) Mercator Momentum Fund, L.P. ("Momentum Fund") and Mercator Momentum Fund III, L.P. ("Momentum Fund III" and, with Momentum Fund, the "Funds") are private investment limited partnerships organized under California law. The general partner of each of the Funds is M.A.G. Capital, LLC ("MAG"), a California limited liability company. David F. Firestone is the Managing Member of MAG. Monarch Pointe Fund, Ltd. ("MPF") is a corporation organized under the laws of the British Virgin Island. MAG controls the investments of MPF. The Funds, MPF, MAG and David F. Firestone are referred to herein as the "Reporting Persons." (b) The business address of each of the Funds, MAG and David F. Firestone is 555 S. Flower Street, Suite 4200, Los Angeles, CA 90071. The business address of MPF is c/o Bank of Ireland Securities Services, Ltd., New Century House, International Financial Services Center, Mayor Street Lower, Dublin 1, Republic of Ireland. (c) Each of the Funds is a California limited partnership. MAG, their general partner, is a California limited liability company. MPF is a corporation organized under the laws of the British Virgin Islands. (d) The title of the class of securities to which this statement relates is the common stock of the Issuer, par value $0.03 per share (the "Common Stock"). (e) The CUSIP number is 00037940U1. Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b) or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) |_| Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) |_| Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) |_| Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). -7- CUSIP No. 00037940U1 13G Page 8 of 13 Pages (e) |_| An investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E). (f) |_| An employee benefit plan or endowment fund in accordance with ss. 240.13d-1(b)(1)(ii)(F). (g) |_| A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G). (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) |_| Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J). Not Applicable. Item 4. Ownership. The Funds, MPF and MAG each own warrants to purchase shares of Common Stock. The Funds and MPF each own shares of Common Stock and shares of the Issuer's Series A Preferred Stock (the "Series A Stock") which is convertible into Common Stock. Each share of Series A Stock is convertible into the number of shares of Common Stock determined by dividing $100 by the Conversion Price at the time of conversion. The Conversion Price is defined as $4.55, provided, however, in the event that (x) more than one hundred and twenty (120) days shall have elapsed after the date of filing of the Series A Stock Certificate of Designations, and (y) at the date of a conversion of some or all of the Series A Preferred Stock, the Market Price (defined as the volume weighted average price of the Common Stock for the five immediately preceding trading days) of the Common Stock is less than $4.76, then the conversion price applicable with respect to such conversion shall be adjusted to a price that equals eighty-five percent (85%) of the Market Price; provided, that, in no event shall such Conversion Price be less than $3.00 per share (the "Floor Price"); and provided further, that the Conversion Price for subsequent conversions shall be $4.55 except as may be adjusted in accordance with clauses (x) and (y) above, adjusted for stock splits and similar events. The documentation governing the terms of the warrants and the Series A Stock contains provisions prohibiting any exercise of the warrants or conversion of Series A Stock that would result in the Reporting Persons owning beneficially more than 9.99% of the outstanding shares of Common Stock as determined under Section 13(d) of the Securities Exchange Act of 1934. As a result of these provisions, the Reporting Persons have never had beneficial ownership of more than 9.99% of the outstanding shares of Common Stock. As of December 31, 2004, the Funds, MPF and MAG owned the following securities of the Issuer: -8- CUSIP No. 00037940U1 13G Page 9 of 13 Pages Momentum Fund owned 10,920 shares of Common Stock, 7,990 shares of Series A Stock and warrants to purchase up to 62,040 shares of Common Stock. Momentum Fund III owned 11,969 shares of Common Stock, 9,180 shares of Series A Stock and warrants to purchase up to 71,280 shares of Common Stock. MPF owned 244,189 shares of Common Stock, 16,830 shares of Series A Stock and warrants to purchase up to 130,680 shares of Common Stock. MAG owned warrants to purchase up to 66,000 shares of Common Stock. David F. Firestone owned no securities of the Issuer directly. The right to vote and the right to dispose of the shares beneficially owned by Momentum Fund, Momentum Fund III and MPF are, in each case, shared among either Momentum Fund, Momentum Fund III or MPF, as applicable, and both MAG and David F. Firestone. The right to vote and the right to dispose of the shares beneficially owned by MAG are shared by MAG and David F. Firestone. Assuming that the Issuer had 12,119,552 shares of Common Stock outstanding as of December 31, 2004, which is the number reported by the Issuer as outstanding as of February 11, 2005 in its Pre-Effective Amendment No. 2 to Form S-3, filed February 11, 2005, the individual Reporting Persons had beneficial ownership of the following numbers of shares of Common Stock which represented the following percentages of the Common Stock outstanding: Shares Owned Percentage ------------ ---------- Momentum Fund 248,564 2.05% Momentum Fund III 285,007 2.35% MPF 744,759 5.91% MAG 810,759 6.27% David F. Firestone 810,759 6.27% The percentages of the outstanding Common Stock held by the Reporting Parties Fund set forth above and on the cover pages to this report were determined using a Conversion Price of $4.55 with respect to the Series A Stock. -9- CUSIP No. 00037940U1 13G Page 10 of 13 Pages Item 5. Ownership of Five Percent or Less of a Class. If this Schedule is being filed to report the fact that as of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following |_| Not Applicable. 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 or Control Person. Not Applicable. Item 8. Identification and Classification of Members of the Group. Not Applicable. 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 with or as a participant in any transaction having that purpose or effect. -10- CUSIP No. 00037940U1 13G Page 11 of 13 Pages 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: February 28, 2005 MERCATOR MOMENTUM FUND, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: February 28, 2005 MERCATOR MOMENTUM FUND III, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: February 28, 2005 MONARCH POINTE FUND, LTD. By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Director Dated: February 28, 2005 M.A.G. CAPITAL, LLC By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: February 28, 2005 /s/ David F. Firestone ---------------------------------- David F. Firestone -11- CUSIP No. 00037940U1 13G Page 12 of 13 Pages EXHIBIT INDEX Exhibit A Agreement of Joint Filing -12- CUSIP No. 00037940U1 13G Page 13 of 13 Pages EXHIBIT A AGREEMENT OF JOINT FILING The undersigned hereby agree that they are filing jointly pursuant to Rule 13d-1 of the Securities Exchange Act of 1934 a report on Schedule 13G, containing the information required by Schedule 13G, for shares of the common stock of Global ePoint, Inc. beneficially owned by Mercator Momentum Fund, L.P., Mercator Momentum Fund III, L.P., Monarch Pointe Fund, Ltd., M.A.G. Capital, LLC and David F. Firestone and such other holdings as may be reported therein. Dated: February 28, 2005 MERCATOR MOMENTUM FUND, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager MERCATOR MOMENTUM FUND III, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager MONARCH POINTE FUND, LTD. By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Director M.A.G. CAPITAL, LLC By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager /s/ David F. Firestone ---------------------------------- David F. Firestone -13-