-----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, Di+QaZ+08a0GzFXOaVUMEKm29OQ3s6g1BteVtM+YogpUgctJX2QcJgzfviQviHg4 pmZk4C/ELk9MplhBfjVZGA== 0000950146-98-001213.txt : 19980714 0000950146-98-001213.hdr.sgml : 19980714 ACCESSION NUMBER: 0000950146-98-001213 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980713 SROS: NASD GROUP MEMBERS: ARROW INVESTORS LLC GROUP MEMBERS: WEST END CAPITAL LLC 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 SEC ACT: SEC FILE NUMBER: 005-50335 FILM NUMBER: 98665156 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 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 1 SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b) Online System Services Inc. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) 682731 104 (CUSIP Number) May 22, 1998 (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) CUSIP No. 682731 104 Page 2 of 7 Pages - -------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) West End Capital LLC 13-3955700 - -------------------------------------------------------------------------------- (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 - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 345,660 SHARES ----------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ----------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 345,660 REPORTING ----------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 345,660 - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.3% - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON ** OO - -------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 682731 104 Page 3 of 7 Pages - -------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Arrow Investors LLC 52-2098847 - -------------------------------------------------------------------------------- (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 - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 295,660 SHARES ----------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER -0- OWNED BY ----------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 295,660 REPORTING ----------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 295,660 - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8% - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON ** OO - -------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 682731 104 Page 4 of 7 Pages Item 1(a). Name of Issuer: The name of the issuer is Online System Services, Inc. (the "Company"). Item 1(b). Address of Issuer's Principal Executive Offices: The Company's principal executive offices are located at 1800 Glenarm Place, 8th Floor, Denver, Co. 80202. Item 2(a). Name of Person Filing: This statement is filed by: (i) Arrow Investors LLC with respect to the shares of Common Stock beneficially owned by it; and (ii) West End Capital LLC with respect to the shares of Common Stock beneficially owned by it and Arrow Investors LLC. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the business office of each of the Reporting Persons is 1 World Trade Center, Suite 4563, New York, New York 10048. Item 2(c). Citizenship: Arrow Investors LLC is a limited liability company organized under the laws of the State of Delaware. West End Capital LLC is a limited liability company organized under the laws of the State of Delaware. Item 2(d). Title of Class of Securities: Common Stock, no par value (the "Common Stock") CUSIP No. 682731 104 Page 5 of 7 Pages Item 2(e). CUSIP Number: 682731 104 Item 3. If this statement is filed pursuant to Rules 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, (b) [ ] Bank as defined in Section 3(a)(6) of the Act, (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act, (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) [ ] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940, (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), (g) [ ] Parent Holding Company or control person in accordance with Rule 13d-1 (b)(ii)(G), (h) [ ] Savings Associations as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) [ ] Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940, (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to 13d-1(c), check this box: [x] Item 4. Ownership. A. Arrow Investors LLC (a) Amount beneficially owned: 295,660 (includes 245,660 shares issuable upon conversion of 3,000 shares of the Company's 5% Preferred Stock held by Arrow Investors LLC and 50,000 shares issuable upon exercise of warrants held by Arrow Investors LLC) (b) Percent of class: 8% (c)(i) Sole power to vote or direct the vote: 295,660 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 295,660 (iv) Shared power to dispose or direct the disposition: -0- CUSIP No. 682731 104 Page 6 of 7 Pages B. West End Capital LLC (a) Amount beneficially owned: 345,660 (includes 245,660 shares issuable upon conversion of the Company's 5% Preferred Stock held by Arrow Investors LLC, 50,000 shares issuable upon exercise of warrants held by Arrow Investors LLC and 50,000 shares issuable upon exercise of warrants held by West End Capital LLC) West End, as the manager of Arrow Investors LLC, may be deemed to beneficially own the shares which Arrow Investors LLC may obtain upon conversion of the 5% Preferred Stock and exercise of the warrants. Notwithstanding the foregoing, West End disclaims beneficial ownership of the shares issuable upon conversion of the 5% Preferred Stock and exercise of the warrants held by Arrow Investors LLC pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended. (b) Percent of class: 9.3% (c)(i) Sole power to vote or direct the vote: 345,660 (ii) Shared power to vote or direct the vote: -0- (iii) Sole power to dispose or direct the disposition: 345,660 (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, the manager of Arrow Investors LLC, has the power to dispose of and the power to vote the shares of Common Stock beneficially owned by it and by Arrow Investors LLC. 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 Group. Not applicable. Item 10. Certification. Each of the Reporting Persons hereby makes the following 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 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. CUSIP No. 682731 104 Page 7 of 7 Pages SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: July 6, 1998 ARROW INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks ----------------------------- Name: Daniel J. Saks Title: Managing Director WEST END CAPITAL LLC By: /s/ Daniel J. Saks ----------------------------- Name: Daniel J. Saks Title: Managing Director Exhibit I 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. Dated: July 6, 1998 ARROW INVESTORS LLC By: West End Capital LLC, Manager By: /s/ Daniel J. Saks ----------------------------- Name: Daniel J. Saks Title: Managing Director WEST END CAPITAL LLC By: /s/ Daniel J. Saks ----------------------------- Name: Daniel J. Saks Title: Managing Director -----END PRIVACY-ENHANCED MESSAGE-----