FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 12/30/2008 |
3. Issuer Name and Ticker or Trading Symbol
ISONICS CORP [ ISON ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Secured Convertible Debenture 13.0%(1) | (6) | 10/31/2009 | Common Stock | 9,857,800 | (7) | D(8)(9) | |
Secured Convertible Debenture 13.0%(2) | (6) | 10/31/2009 | Common Stock | 2,000,000 | (7) | D(8)(9) | |
Warrant(3) | (6) | 05/30/2009 | Common Stock | 500,000 | $5 | D(8)(9) | |
Warrant(4) | (6) | 05/30/2009 | Common Stock | 750,000 | $7 | D(8)(9) | |
Warrant(5) | (6) | 05/30/2009 | Common Stock | 750,000 | $8 | D(8)(9) | |
Warrant | (6) | 06/13/2015 | Common Stock | 13,000,000 | $0.03 | D(8)(9) | |
Warrant | (6) | 04/10/2010 | Common Stock | 250,000 | $0.07 | D(8)(9) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. The Secured Convertible Debenture (No. CCP-1) was originally issued on May 31, 2006, pursuant to a Securities Purchase Agreement, dated May 31, 2006, by and among the Issuer and YA Global, in the principal amount of $10,000,000. ("Debenture No. 1"). Debenture No. 1 was amended and restated as Secured Convertible Debenture (No. CCP-3), on June 13, 2006 and further amended pursuant to Amendment No. 1 ("Amendment to Debenture No. 1") thereto on June 13, 2008. As amended, Debenture No. 1 is convertible into shares of Common Stock at a per share price equal to the lower of (i) $.03 or (ii) 80% of the lowest volume weighted average price over the previous ten trading days. |
2. The Secured Convertible Debenture (No. CCP-2007-1), was originally issued on April 10, 2007, pursuant to a Securities Purchase Agreement, dated April 10, 2006, by and among the Issuer and YA Global, in the principal amount of $2,000,000. ("Debenture No. 2"). Debenture No. 2 was amended pursuant to Amendment No. 1 ("Amendment to Debenture No. 2") on June 13, 2008, As amended, Debenture No. 2 is convertible into shares of Common Stock at a per share price equal to the lower of (i) $.03 or (ii) 80% of the average two lowest volume weighted average price over the previous ten trading days. |
3. Warrant to Purchase Common Stock (No. CCP-001), which was amended and restated on June 13, 2006 as Amended and Restated Warrant to Purchase Common Stock (No. CCP-002), to purchase 2,000,000 shares of Common Stock at a purchase price of $1.25 per share ("Warrant No. 1"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 500,000. |
4. Warrant to Purchase Common Stock (No. CCP-002), which was amended and restated on June 13, 2006 as Amended and Restated Warrant to Purchase Common Stock (No. CCP-003), to purchase 3,000,000 shares of Common Stock at a purchase price of $1.75 per share ("Warrant No. 2"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 750,000. |
5. Warrant to Purchase Common Stock (No. CCP-003), which was amended and restated on June 13, 2006, as Amended and Restated Warrant to Purchase Common Stock (No. CCP-004), to purchase 3,000,000 shares of Common Stock at a purchase price of $2.00 per share ("Warrant No. 3"). On February 13, 2007, the Issuer consummated a 4:1 reverse stock split of the Common Stock as a result of which the number of shares of Common Stock that may be purchased pursuant to Warrant No. 1 was amended on the books of YA Global to 750,000. |
6. These derivative securities are presently exercisable. |
7. $0.03 or 80% of the lowest VWAP for the previous (10) trading days. |
8. YA Global Investments, L.P. ("YA Global") directly owns the Derivative Securities. As the Investment Manager of YA Global, Yorkville Advisors, LLC ("Yorkville") may be deemed to beneficially own the Derivative Securities beneficially owned by YA Global. As the president of Yorkville, the investment manager to YA Global, and as the portfolio manager to YA Global, Mark Angelo ("Angelo") may be deemed to beneficially own the Derivative Securities beneficially owned by YA Global. |
9. Except for the Derivative Securities beneficially owned by YA Global, the other Reporting Persons disclaim beneficial ownership of these securities except to the extent of his or its pecuniary interest, and its report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or for any other purpose. |
/s/ Steven S. Goldstein By: Yorkville Advisors, LLC By: Steven S. Goldstein | 01/12/2009 | |
/s/ Steven S. Goldstein By: Yorkville Advisors, LLC By: Steven S. Goldstein Its: Investment Manager | 01/12/2009 | |
/s/ Mark Angelo By: Mark Angelo | 01/12/2009 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |