SC 13D/A 1 dsc13da.htm SCHEDULE 13D/A NO. 2 Schedule 13D/A No. 2

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

 

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE

13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT RULE 13d-2(a)

(Amendment No. 2)

 

 

 

 

Innotrac Corporation

(Name of Issuer)

 

 

Common Stock

(Title of Class of Securities)

 

 

45767M109

(CUSIP Number)

 

 

Steven L. Wasserman, Chernett Wasserman Yarger Pasternak L.L.C.

1301 East 9th Street, Suite 3300, Cleveland, OH 44114, (216) 737-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

January 2, 2004

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ¨

 

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

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 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).

 

Page 1 of 6

SCHEDULE 13D

 

CUSIP No. 45767M109    Page 2 of 6

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

            IPOF Fund

    
  2.  

Check the Appropriate Box if a Member of a Group*

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds

 

    
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

            Ohio

    

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

  

  7.    Sole Voting Power

 

                3,109,500

  8.    Shared Voting Power

 

  9.    Sole Dispositive Power

 

                3,109,500

10.    Shared Dispositive Power

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            3,109,500

    
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

            26.7%

    
14.  

Type of Reporting Person*

 

            PN

    

SCHEDULE 13D

 

CUSIP No. 45767M109    Page 3 of 6

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

            David Dadante

    
  2.  

Check the Appropriate Box if a Member of a Group*

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds

 

    
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

            United States of America

    

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

  

  7.    Sole Voting Power

 

  8.    Shared Voting Power

 

                3,109,500

  9.    Sole Dispositive Power

 

10.    Shared Dispositive Power

 

                3,109,500

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            3,109,500

    
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

            26.7%

    
14.  

Type of Reporting Person*

 

            IN

    

 

CUSIP No. 45767M109    Page 4 of 6            

 

This Schedule 13D is filed on behalf of IPOF Fund (the “Fund”), an Ohio limited partnership, and David Dadante, the general partner of IPOF Fund, relating to shares of common stock, par value $0.10 per share, of Innotrac Corporation, a Georgia corporation (“Innotrac”).

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Item 3 of Schedule 13D is amended and supplemented as follows:

 

The shares of common stock reported herein as having been acquired by IPOF Fund were acquired for the aggregate purchase price of approximately $1,487,794 (excluding commissions) with working capital of IPOF Fund.

 

Item 5. Interest in Securities of the Issuer.

 

Items 5(a) and 5(c) of Schedule 13D are amended and supplemented as follows:

 

(a) According to the most recently available filing with the Securities and Exchange Commission by Innotrac, there are 11,662,030 shares of common stock outstanding.

 

IPOF Fund beneficially owns 3,109,500 shares of common stock, or 26.7% of the outstanding shares of common stock. As general partner of IPOF Fund, Mr. Dadante may be deemed to beneficially own all shares of common stock held by IPOF Fund.

 

(c) Since the filing of Amendment No. 1 Schedule 13D dated December 9, 2003, IPOF Fund has acquired 140,500 shares of common stock in open market transactions as follows:

 

Date

    Number of Shares
   

Approximate

Per Share Price

(Excluding
Commissions)

02/04/2004

    7,200    $ 11.3876

02/03/2004

    1,700    $ 11.3506

01/31/2004

    2,400    $ 11.2004

01/29/2004

    1,100    $ 11.2009

01/28/2004

    300    $ 11.1967

01/27/2004

    1,200    $ 11.2233

01/26/2004

    1,500    $ 11.1507

01/23/2004

    5,500    $ 11.1502

01/22/2004

    2,400    $ 11.1263

01/21/2004

    2,600    $ 11.0885

01/21/2004

    900    $ 11.0511

01/16/2004

    3,400    $ 11.0403

01/15/2004

    14,800    $ 11.008

01/14/2004

    1,400    $ 10.9964

01/13/2004

    2,000    $ 10.9855

01/12/2004

    3,150    $ 10.9829

01/09/2004

    4,200    $ 10.9812

CUSIP No. 45767M109    Page 5 of 6            

 

Date

    Number of Shares
   

Approximate

Per Share Price

(Excluding
Commissions)

01/08/2004

    100    $ 10.97

01/07/2004

    4,250    $ 11.0583

01/06/2004

    4,000    $ 10.9503

01/05/2004

    1,700    $ 10.5988

01/02/2004

    2,700    $ 10.4593

01/02/2004

    3,850    $ 10.3903

01/02/2004

    4,750    $ 10.3866

12/31/2003

    1,700    $ 10.4006

12/26/2003

    3,200    $ 10.3706

12/24/2003

    100    $ 10.373

12/23/2003

    1,100    $ 10.2943

12/22/2003

    17,900    $ 10.2502

12/19/2003

    3,900    $ 10.2582

12/18/2003

    2,000    $ 10.191

12/17/2003

    1,400    $ 10.1929

12/16/2003

    9,200    $ 10.2102

12/15/2003

    400    $ 10.1275

12/12/2003

    6,800    $ 10.0431

12/11/2003

    3,500    $ 9.9003

12/10/2003

    10,100    $ 9.8522

12/09/2003

    2,100    $ 9.5719

 

Since the filing of Amendment No. 1 to Schedule 13D, IPOF Fund has sold no shares of common stock in open market transactions.

 

Item 7. Material to be Filed as Exhibits.

 

  7.1 Joint Filing Agreement, incorporated by reference to Exhibit 7.1 to Schedule 13D Statement, dated July 30, 2003, filed on behalf of IPOF Fund and David Dadante

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: March         , 2004

 

IPOF FUND
/s/    David Dadante        
By:    David Dadante
Its:     General Partner

 

/s/    David Dadante         
DAVID DADANTE

 

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