1
|
NAME OF REPORTING PERSON
FRANVENTURES, LLC
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
SC
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
FLORIDA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
8
|
SHARED VOTING POWER
1,838,429
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
1,838,429
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,838,429
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.3%
|
||
14
|
TYPE OF REPORTING PERSON
OO
|
1
|
NAME OF REPORTING PERSON
BRIAN PAPPAS
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF, PF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
13,250
|
|
8
|
SHARED VOTING POWER
1,838,429
|
||
9
|
SOLE DISPOSITIVE POWER
13,250
|
||
10
|
SHARED DISPOSITIVE POWER
1,838,429
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,851,679
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.4%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
1
|
NAME OF REPORTING PERSON
CHRISTINE H. PAPPAS
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF, PF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
8
|
SHARED VOTING POWER
1,838,429
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
1,838,429
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,838,429
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.3%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
1
|
NAME OF REPORTING PERSON
WALTER RAMSLEY
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
- 0 -
|
|
8
|
SHARED VOTING POWER
- 0 -
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
- 0 -
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
1
|
NAME OF REPORTING PERSON
MARK D. SHAW
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
SC, PF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
506,000
|
|
8
|
SHARED VOTING POWER
- 0 -
|
||
9
|
SOLE DISPOSITIVE POWER
506,000
|
||
10
|
SHARED DISPOSITIVE POWER
- 0 -
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
506,000
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.2%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
1
|
NAME OF REPORTING PERSON
DAVID K. WALDMAN
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
PF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
5,900
|
|
8
|
SHARED VOTING POWER
- 0 -
|
||
9
|
SOLE DISPOSITIVE POWER
5,900
|
||
10
|
SHARED DISPOSITIVE POWER
- 0 -
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,900
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
Item 1.
|
Security and Issuer.
|
|
Item 1 is hereby amended and restated to read as follows:
|
Item 2.
|
Identity and Background.
|
|
Item 2 is hereby amended and restated to read as follows:
|
|
(i)
|
FranVentures, LLC, a Florida limited liability company (FranVentures), with respect to the Shares directly and beneficially owned by it;
|
|
(ii)
|
Brian Pappas, with respect to the Shares directly owned by him and as a managing director of FranVentures;
|
|
(iii)
|
Christine H. Pappas, as a member of FranVentures;
|
|
(iv)
|
Walter Ramsley, as a nominee for the Board of Directors of the Issuer (the “Board”);
|
|
(v)
|
Mark D. Shaw, as a nominee for the Board; and
|
|
(vi)
|
David K. Waldman, as a nominee for the Board.
|
Item 3.
|
Source and Amount of Funds or Other Consideration.
|
Item 4.
|
Purpose of Transaction.
|
Item 5.
|
Interest in Securities of the Issuer.
|
A.
|
FranVentures
|
|
(a)
|
As of the close of business on December 9, 2016, FranVentures directly owned 1,838,429 Shares.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 1,838,429
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 1,838,429
|
|
(c)
|
FranVentures has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
B.
|
Mr. Pappas
|
|
(a)
|
As of the close of business on December 9, 2016, Mr. Pappas beneficially owned 1,851,679 Shares consisting of (i) 1,838,429 Shares beneficially owned by Mr. Pappas by virtue of his position as a managing director of FranVentures and (ii) 13,250 Shares directly owned by Mr. Pappas.
|
|
(b)
|
1. Sole power to vote or direct vote: 13,250
|
|
2. Shared power to vote or direct vote: 1,838,429
|
|
3. Sole power to dispose or direct the disposition: 13,250
|
|
4. Shared power to dispose or direct the disposition: 1,838,429
|
|
(c)
|
Mr. Pappas has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
C.
|
Mrs. Pappas
|
|
(a)
|
As of the close of business on December 9, 2016, Mrs. Pappas beneficially owned 1,838,429 Shares, by virtue of her position as a member of FranVentures.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 1,838,429
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 1,838,429
|
|
(c)
|
Mrs. Pappas has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
D.
|
Mr. Ramsley
|
|
(a)
|
As of the close of business on December 9, 2016, Mr. Ramsley did not own any Shares.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
Mr. Ramsley has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
E.
|
Mr. Shaw
|
|
(a)
|
As of the close of business on December 9, 2016, Mr. Shaw beneficially owned 501,000 Shares consisting of (i) 180,000 Shares owned jointly by Mr. Shaw and his wife and (ii) 326,000 Shares directly owned by Mr. Shaw.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 506,000
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 506,000
|
|
(c)
|
Mr. Shaw has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
F.
|
Mr. Waldman
|
|
(a)
|
As of the close of business on December 9, 2016, Mr. Waldman directly owned 5,900 Shares.
|
|
(b)
|
1. Sole power to vote or direct vote: 5,900
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 5,900
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
Mr. Waldman has not entered into any transactions in the Shares since the filing of the Schedule 13D.
|
|
(d)
|
No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
|
|
(e)
|
Not applicable.
|
Item 6.
|
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
|
Item 7.
|
Material to be Filed as Exhibits.
|
|
99.1
|
Joint Filing and Solicitation Agreement by and among FranVentures, LLC, Brian Pappas, Walter Ramsley, Mark D. Shaw and David K. Waldman, dated December 8, 2016.
|
FranVentures, LLC
|
||
By:
|
/s/ Brian Pappas
|
|
Name:
|
Brian Pappas
|
|
Title:
|
Managing Director
|
/s/ Brian Pappas
|
|
Brian Pappas
|
/s/ Christine H. Pappas
|
|
Christine H. Pappas
|
/s/ Walter Ramsley
|
|
Walter Ramsley
|
/s/ Mark D. Shaw
|
|
Mark D. Shaw
|
/s/ David K. Waldman
|
|
David K. Waldman
|
/s/ Brian Pappas
|
|
Brian Pappas
|
/s/ Mark Shaw
|
|
Mark Shaw
|
/s/ Walter Ramsley
|
|
Walter Ramsley
|
/s/ David Waldman
|
|
David Waldman
|
FRANVENTURES LLC
|
||
By:
|
/s/ Brian Pappas
|
|
Brian Pappas
|