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-