0001140361-17-023550.txt : 20170602
0001140361-17-023550.hdr.sgml : 20170602
20170602161331
ACCESSION NUMBER: 0001140361-17-023550
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170602
FILED AS OF DATE: 20170602
DATE AS OF CHANGE: 20170602
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: usell.com, Inc.
CENTRAL INDEX KEY: 0001271075
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200]
IRS NUMBER: 980412432
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 171 MADISON AVE.
STREET 2: 17 FL.,
CITY: NEW YORK
STATE: NY
ZIP: 10016
BUSINESS PHONE: (212) 213-6805
MAIL ADDRESS:
STREET 1: 171 MADISON AVE.
STREET 2: 17 FL.,
CITY: NEW YORK
STATE: NY
ZIP: 10016
FORMER COMPANY:
FORMER CONFORMED NAME: Upstream Worldwide, Inc.
DATE OF NAME CHANGE: 20100621
FORMER COMPANY:
FORMER CONFORMED NAME: MONEY4GOLD HOLDINGS INC
DATE OF NAME CHANGE: 20080729
FORMER COMPANY:
FORMER CONFORMED NAME: EFFECTIVE PROFITABLE SOFTWARE, INC.
DATE OF NAME CHANGE: 20050607
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: PITON CAPITAL PARTNERS LLC
CENTRAL INDEX KEY: 0001644342
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-50494
FILM NUMBER: 17888079
BUSINESS ADDRESS:
STREET 1: C/O KOKINO LLC
STREET 2: 201 TRESSER BOULEVARD, 3RD FLOOR
CITY: STAMFORD
STATE: CT
ZIP: 06901
BUSINESS PHONE: (405) 936-6220
MAIL ADDRESS:
STREET 1: C/O NORTH BAY ASSOCIATES
STREET 2: 14000 QUAIL SPRINGS PARKWAY, SUITE 2200
CITY: OKLAHOMA CITY
STATE: OK
ZIP: 73134
4
1
doc1.xml
FORM 4
X0306
4
2017-06-02
0
0001271075
usell.com, Inc.
USEL
0001644342
PITON CAPITAL PARTNERS LLC
C/O KOKINO LLC
201 TRESSER BOULEVARD, 3RD FLOOR
STAMFORD
CT
06901
0
0
1
0
Common Stock
2017-06-02
4
P
0
1358837
1.00
A
2358837
D
Stock Options (Right to Buy)
1
2016-12-20
2021-12-20
Common Stock
1000000
1000000
D
Piton Capital Partners LLC, a Delaware limited liability company ("Piton") and family client of Kokino LLC ("Kokino"), also reports beneficial ownership pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, as amended, pursuant to a Schedule 13D filed jointly by Leslie J. Schreyer, as Trustee under Trust Agreement dated December 23, 1989 FBO the issue of Jonathan D. Sackler (the "Trust"), M3C Holdings LLC ("M3C"), Robert Averick and Piton, with the Issuer on December 30, 2016, as amended by a Schedule 13D Amendment No. 1 filed on June 2, 2017.
Represents shares of the Issuer's common stock ("Shares") beneficially owned by Piton. The Trust, M3C and Mr. Averick are members of Piton. Piton's managing member is Piton Capital Management LLC ("PCM"). PCM's managing member is Kokino LLC ("Kokino"), and Kokino is Piton's trading manager. Mr. Averick manages the Trust's, M3C's and Piton's investments in the Issuer as Kokino's Portfolio Manager. Mr. Averick, Kokino and PCM have no pecuniary interest in Piton's Shares, except that Mr. Averick owns a minority interest in Piton (which may be held directly and, occasionally, indirectly through PCM). Also, Mr. Averick's incentive compensation as an employee of Kokino, which is calculated in Kokino's discretion, may be based, among other things, on the performance of Shares held by the Trust, M3C and Piton. Such compensation may be paid in cash and/or by increasing Mr. Averick's minority interest in Piton (either directly or indirectly through PCM).
Represents the aggregate shares of common stock that Piton has the right to purchase under the stock options.
/s/ Douglas Kline, Chief Operating Officer, Kokino LLC, managing member of Piton Capital Management LLC, managing member of Piton Capital Partners LLC
2017-06-02