-----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, SnPIitO14jRUr6cUxwDwghu2PHssucA20U5EXerE34MpCpl7JJNqiyFjix1cTkQM RpclmorMRDDvtZc8VEHguQ== 0000950146-99-000060.txt : 19990122 0000950146-99-000060.hdr.sgml : 19990122 ACCESSION NUMBER: 0000950146-99-000060 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990121 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ONLINE SYSTEM SERVICES INC CENTRAL INDEX KEY: 0001011901 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 841293864 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-50335 FILM NUMBER: 99509427 BUSINESS ADDRESS: STREET 1: 1800 GLENARM PLACE STREET 2: STE 800 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3032969200 MAIL ADDRESS: STREET 1: 1800 GLENARM PL STREET 2: SUITE 800 CITY: DENVER STATE: CO ZIP: 80202 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WEST END CAPITAL LLC CENTRAL INDEX KEY: 0001065076 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: ONE WORLD TRADE CENTER STREET 2: SUITE 4563 CITY: NEW YORK STATE: NY ZIP: 10048 BUSINESS PHONE: 2127759299 MAIL ADDRESS: STREET 1: ONE WORLD TRADE CENTER STREET 2: SUITE 4563 CITY: NEW YORK STATE: NY ZIP: 10048 SC 13G/A 1 AMENDMENT NUMBER 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b) (Amendment No. 1)* Online System Services, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) - -------------------------------------------------------------------------------- Common Stock, without par value (Title of Class of Securities) 682731-10-4 - -------------------------------------------------------------------------------- (CUSIP Number) January 11, 1999 - -------------------------------------------------------------------------------- (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) *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 disclosures provided in a prior cover page. The information required on 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 ("Act") 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). SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 682731-10-4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON West End Capital LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 485,183 Number of ------------------------------------------------------- Shares 6 SHARED VOTING POWER Beneficially 0 Owned By ------------------------------------------------------- Each 7 SOLE DISPOSITIVE POWER Reporting 485,183 Person ------------------------------------------------------- With 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 485,183 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.4% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 2 of 13 SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 682731-10-4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Arrow Investors LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 50,000 Number of ------------------------------------------------------- Shares 6 SHARED VOTING POWER Beneficially 0 Owned By ------------------------------------------------------- Each 7 SOLE DISPOSITIVE POWER Reporting 50,000 Person ------------------------------------------------------- With 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 3 of 13 SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 682731-10-4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Archer Investors LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 385,183 Number of ------------------------------------------------------- Shares 6 SHARED VOTING POWER Beneficially 0 Owned By ------------------------------------------------------- Each 7 SOLE DISPOSITIVE POWER Reporting 385,183 Person ------------------------------------------------------- With 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 385,183 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.6% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 4 of 13 SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 682731-10-4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON WEC Asset Management LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 242,131 Number of ------------------------------------------------------- Shares 6 SHARED VOTING POWER Beneficially 0 Owned By ------------------------------------------------------- Each 7 SOLE DISPOSITIVE POWER Reporting 242,131 Person ------------------------------------------------------- With 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 242,131 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 5 of 13 SCHEDULE 13G - -------------------------------------------------------------------------------- CUSIP No. 682731-10-4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Arrow Investors II LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 242,131 Number of ------------------------------------------------------- Shares 6 SHARED VOTING POWER Beneficially 0 Owned By ------------------------------------------------------- Each 7 SOLE DISPOSITIVE POWER Reporting 242,131 Person ------------------------------------------------------- With 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 242,131 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.9% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 6 of 13 Schedule 13G Item 1. (a) Name of Issuer: Online System Services, Inc. (b) Address of Issuer's Principal Executive Offices: Online System Services, Inc. 1800 Glenarm Place, 8th Floor Denver, Colorado 80202 Item 2. (a) Names of Persons Filing: West End Capital LLC ("West End") Arrow Investors LLC ("Arrow") Archer Investors LLC ("Archer") WEC Asset Management LLC ("Asset Management") Arrow Investors II LLC ("Arrow II") (b) Address of Principal Business Office or, if none, Residence: West End Capital LLC Arrow Investors LLC One World Trade Center c/o West End Capital LLC New York, New York 10048 One World Trade Center New York, New York 10048 Archer Investors LLC WEC Asset Management LLC c/o West End Capital LLC One World Trade Center One World Trade Center New York, New York 10048 New York, New York 10048 Arrow Investors II LLC c/o WEC Asset Management LLC One World Trade Center New York, New York 10048 (c) Citizenship: West End, Asset Management, Arrow, Archer and Arrow II are each organized under the laws of Delaware 7 (d) Title of Class of Securities: Common Stock, without par value. (e) CUSIP Number: 682731-10-4 Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act. (b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [ ] Investment company registered under Section 8 of the Investment Company Act. (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box [ ]. Item 4. Ownership. A. Arrow Investors LLC (a) Amount beneficially owned: As of January 11, 1999, 50,000 shares of Common Stock issuable upon exercise of warrants held by Arrow. (b) Percent of class: 1.0% (c) (i) Sole power to vote or direct the vote: 50,000 8 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 50,000 (iv) Shared power to dispose or direct the disposition: -0- B. Archer Investors LLC (a) Amount beneficially owned: As of January 11, 1999, 385,183 shares of Common Stock, consisting of 245,183 shares of Common Stock issuable upon conversion of the Company's Series A Preferred Stock held by Archer and 140,000 shares of Common Stock issuable upon exercise of warrants held by Archer. Pursuant to the terms of the Company's Series A Preferred Stock, at no time shall any holder (including its affiliates) convert any shares of Series A Preferred Stock as shall result in such holder's (together with its affiliate's) ownership, after such conversion, exceeding 9.9% of the Company's outstanding common stock. (b) Percent of class: 7.6% (c) (i) Sole power to vote or direct the vote: 385,183 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 385,183 (iv) Shared power to dispose or direct the disposition: -0- C. West End Capital LLC (a) Amount beneficially owned: As of January 11, 1999, 485,183 shares of Common Stock, consisting of 50,000 shares of Common Stock issuable upon exercise of warrants held by West End, 50,000 shares of Common Stock issuable upon exercise of warrants held by Arrow, 245,183 shares of Common Stock issuable upon conversion of the Company's Series A Preferred Stock held by Archer and 140,000 shares of Common Stock issuable upon exercise of warrants held by Archer. West End, as the manager of each of Arrow Investors LLC and Archer Investors LLC, may be deemed to beneficially own the shares which each of Arrow and Archer may obtain upon conversion of the Series A Preferred Stock (in the case of Archer) and exercise of the warrants. Notwithstanding the foregoing, pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, West End disclaims beneficial ownership of the shares of Common Stock issuable upon conversion of the Series A Preferred Stock and exercise of the warrants held by Arrow and Archer. Pursuant to the terms of the Company's Series A Preferred Stock, at no time shall any holder (including its affiliates) convert any shares of Series A 9 Preferred Stock as shall result in such holder's (together with its affiliate's) ownership, after such conversion, exceeding 9.9% of the Company's outstanding common stock. (b) Percent of class: 9.4% (c) (i) Sole power to vote or direct the vote: 485,183 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 485,183 (iv) Shared power to dispose or direct the disposition: -0- D. Arrow Investors II LLC (a) Amount beneficially owned: As of January 11, 1999, 242,131 shares of Common Stock, consisting of 145,278 shares of Common Stock issuable upon conversion of the Company's Series C Preferred Stock held by Arrow II and 96,853 shares of Common Stock issuable upon exercise of warrants held by Arrow II. Pursuant to the terms of the Company's Series C Preferred Stock, at no time shall any holder (including its affiliates) convert any shares of Series C Preferred Stock as shall result in such holder's (together with its affiliate's) ownership, after such conversion, exceeding 9.9% of the Company's outstanding common stock. (b) Percent of class: 4.9% (c) (i) Sole power to vote or direct the vote: 242,131 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 242,131 (iv) Shared power to dispose or direct the disposition: -0- E. WEC Asset Management LLC (a) Amount beneficially owned: As of January 11, 1999, 242,131 shares of Common Stock, consisting of 145,278 shares of Common Stock issuable upon conversion of the Company's Series C Preferred Stock held by Arrow II and 96,853 shares of Common Stock issuable upon exercise of warrants held by Arrow II. Asset Management, as the manager of Arrow II, may be deemed to beneficially own the shares which each Arrow II may obtain upon conversion of the Series C Preferred Stock and exercise of the warrants. Notwithstanding the foregoing, pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Asset Management disclaims beneficial ownership of the shares of Common Stock issuable upon conversion of the Series C Preferred Stock and exercise of the warrants held by Arrow II. Pursuant to the terms of 10 the Company's Series C Preferred Stock, at no time shall any holder (including its affiliates) convert any shares of Series C Preferred Stock as shall result in such holder's (together with its affiliate's) ownership, after such conversion, exceeding 9.9% of the Company's outstanding common stock. (b) Percent of class: 4.9% (c) (i) Sole power to vote or direct the vote: 242,131 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 242,131 (iv) Shared power to dispose or direct the disposition: -0- Item 5. Ownership of Five Percent or Less of a Class. Not Applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. West End Capital LLC, as the manager of each of Arrow and Archer, has the power to dispose of and the power to vote the shares of Common Stock beneficially owned by it and each of Arrow and Archer. WEC Asset Management LLC, as the manager of Arrow II, has the power to dispose of and the power to vote the shares of Common Stock beneficially owned by Arrow II. 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. Not Applicable. Item 9. Notice of Dissolution of the Group. Not Applicable. Item 10. Certification. 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 such securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 11 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. Date: January 21, 1999 WEST END CAPITAL LLC By: /s/ Daniel J. Saks -------------------------------------- Name: Daniel J. Saks Title: Managing Director ARROW INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks -------------------------------------- Name: Daniel J. Saks Title: Managing Director ARCHER INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks -------------------------------------- Name: Daniel J. Saks Title: Managing Director WEC ASSET MANAGEMENT LLC By: /s/ Ethan E. Benovitz -------------------------------------- Name: Ethan E. Benovitz Title: Managing Director ARROW INVESTORS II LLC By: WEC Asset Management LLC, Manager By: /s/ Ethan E. Benovitz -------------------------------------- Name: Ethan E. Benovitz Title: Managing Director 12 JOINT FILING AGREEMENT Each of the undersigned hereby agrees that the schedule 13G filed herewith is filed jointly, pursuant to Rule 13d-1(k)(1) of the Securities Exchange Act of 1934, as amended, on behalf of each of them. Date: January 21, 1999 WEST END CAPITAL LLC By: /s/ Daniel J. Saks -------------------------------------- Name: Daniel J. Saks Title: Managing Director ARROW INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks -------------------------------------- Name: /Daniel J. Saks/ Title: Managing Director ARCHER INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks -------------------------------------- Name: Daniel J. Saks Title: Managing Director WEC ASSET MANAGEMENT LLC By: /s/ Ethan E. Benovitz -------------------------------------- Name: Ethan E. Benovitz Title: Managing Director ARROW INVESTORS II LLC By: WEC Asset Management LLC, Manager By: /s/ Ethan E. Benovitz -------------------------------------- Name: Ethan E. Benovitz Title: Managing Director 13 -----END PRIVACY-ENHANCED MESSAGE-----