SC 13G/A 1 g084561_sc13ga.htm SC 13G/A

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13G/A

 

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

 

Enservco Corporation

(Name of Issuer)

 

Common Stock, par value $0.005 per share

(Title of Class of Securities)

 

29358Y201

(CUSIP Number)

 

September 30, 2024

(Date of Event which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)

 

* 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 (“Act”) 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).

 

CUSIP No. 29358Y201   13G/A   Page 2 of 10 Pages
   
1. NAMES OF REPORTING PERSONS

Ionic Ventures, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a)    
(b)    
3. SEC USE ONLY
 
4. CITIZENSHIP OR PLACE OF ORGANIZATION
 
California, United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5. SOLE VOTING POWER
 
0
6.

SHARED VOTING POWER

 

4,000,000 (1)

7. SOLE DISPOSITIVE POWER
 
0
8.

SHARED DISPOSITIVE POWER

 

4,000,000 (1)

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,000,000 (1)
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.0% (1)
12. TYPE OF REPORTING PERSON (see instructions)

OO

 

  (1) As more fully described in Item 4 of this Amendment No. 2 to Statement on Schedule 13G (this “Amendment No. 2”), such shares and percentage are based on 45,841,886 shares of the issuer’s common stock, par value $0.005 per share (the “Common Stock”), outstanding as of August 12, 2024, as disclosed in the issuer’s Quarterly Report on Form 10-Q for the fiscal period ended June 30, 2024, filed with the U.S. Securities and Exchange Commission on August 14, 2024 (the “Form 10-Q”), and consists of 4,000,000 shares of Common Stock issuable upon full exercise of Common Stock purchase warrants directly held by the reporting person (the “Warrants”).

 

CUSIP No. 29358Y201   13G/A   Page 3 of 10 Pages

 

1. NAMES OF REPORTING PERSONS

Ionic Management, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a)    
(b)    
3. SEC USE ONLY
 
4. CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware, United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5. SOLE VOTING POWER
 
0
6.

SHARED VOTING POWER

 

4,000,000 (1)

7. SOLE DISPOSITIVE POWER
 
0
8.

SHARED DISPOSITIVE POWER

 

4,000,000 (1)

9.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

4,000,000 (1)

10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    
11.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

8.0% (1)

12.

TYPE OF REPORTING PERSON (see instructions)

 

OO

 

  (1) As more fully described in Item 4 of this Amendment No. 2, such shares and percentage are based on 45,841,886 shares of Common Stock outstanding as of August 12, 2024, as disclosed in the Form 10-Q, and consists of 4,000,000 shares of Common Stock issuable upon full exercise of the Warrants indirectly held by the reporting person.

 

CUSIP No. 29358Y201   13G/A    Page 4 of 10 Pages
   
1. NAMES OF REPORTING PERSONS

Brendan O’Neil
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a)    
(b)    
3. SEC USE ONLY
 
4. CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5. SOLE VOTING POWER
 
0
6. SHARED VOTING POWER
 
4,000,000 (1)
7. SOLE DISPOSITIVE POWER
 
0
8. SHARED DISPOSITIVE POWER
 
4,000,000 (1)
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,000,000 (1)
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.0% (1)
12. TYPE OF REPORTING PERSON (see instructions)

IN

 

  (1) As more fully described in Item 4 of this Amendment No. 2, such shares and percentage are based on 45,841,886 shares of Common Stock outstanding as of August 12, 2024, as disclosed in the Form 10-Q, and consists of 4,000,000 shares of Common Stock issuable upon full exercise of the Warrants indirectly held by the reporting person.

 

CUSIP No. 29358Y201   13G/A   Page 5 of 10 Pages
   
1. NAMES OF REPORTING PERSONS

Keith Coulston
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a)    
(b)    
3. SEC USE ONLY
 
4. CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5. SOLE VOTING POWER
 
0
6. SHARED VOTING POWER
 
4,000,000 (1)
7. SOLE DISPOSITIVE POWER
 
0
8. SHARED DISPOSITIVE POWER
 
4,000,000 (1)
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,000,000 (1)
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.0% (1)
12. TYPE OF REPORTING PERSON (see instructions)

IN

 

  (1) As more fully described in Item 4 of this Amendment No. 2, such shares and percentage are based on 45,841,886 shares of Common Stock outstanding as of August 12, 2024, as disclosed in the Form 10-Q, and consists of 4,000,000 shares of Common Stock issuable upon full exercise of the Warrants indirectly held by the reporting person.

 

CUSIP No. 29358Y201   13G/A   Page 6 of 10 Pages

 

This Amendment No. 2 to Statement on Schedule 13G (“Amendment No. 2”) amends and supplements Amendment No. 1 to the Schedule 13G, filed by the reporting persons with the U.S. Securities and Exchange Commission (“SEC”) on February 14, 2024 (“Amendment No. 1”), which amended and supplemented the Statement on Schedule 13G filed with the SEC on March 1, 2023 (the “Schedule 13G”).

 

The purpose of this Amendment No. 2 is to update the beneficial ownership information on the cover pages and in Item 4 in each of the Schedule 13G and Amendment No. 1.

 

Item 1(a). Name of Issuer:

 

Enservco Corporation (the “Issuer”).

 

Item 1(b). Address of Issuer’s Principal Executive Offices:

 

The Issuer’s principal executive offices are located at 14133 County Rd 9½, Longmont, Colorado 80504.

 

Item 2(a). Names of Persons Filing:

 

  (i) Ionic Ventures LLC, a California limited liability company (“Ionic”);
   
  (ii) Ionic Management, LLC, a Delaware limited liability company (“Ionic Management”);
   
  (iii) Keith Coulston (“Mr. Coulston”); and
   
  (iv) Brendan O’Neil (“Mr. O’Neil”).

 

The foregoing persons are hereinafter collectively referred to as the “Reporting Persons”. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

 

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which was filed as Exhibit 1 to Amendment No. 1, pursuant to which such Reporting Persons have agreed to file this Amendment No. 2 and all subsequent amendments to the Schedule 13G and Amendment No. 1 jointly in accordance with the provisions of Rule 13d-1(k) of the Act.

 

The filing of this Amendment No. 2 should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of the shares of Common Stock reported herein.

 

Item 2(b). Address of Principal Business Office or, if none, Residence:

 

The principal business address of each of the Reporting Persons is 3053 Fillmore St, Suite 256, San Francisco, CA 94123.

 

Item 2(c). Citizenship:

 

Ionic is a limited liability company organized under the laws of the State of California. Ionic Management is a limited liability company organized under the laws of the State of Delaware. Each of Mr. Coulston and Mr. O’Neil is a citizen of the United States.

 

Item 2(d). Title of Class of Securities:

 

The title of the class of securities to which the this statement relates is the Issuer’s common stock, par value $0.005 per share (the “Common Stock”).

 

Item 2(e). CUSIP Number: 29358Y201

 

CUSIP No. 29358Y201   13G/A   Page 7 of 10 Pages

 

Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:

 

Not applicable.

 

Item 4. Ownership.

 

The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Amendment No. 2 and is incorporated herein by reference for each such Reporting Person. The ownership percentages reported are based on (i) 45,841,886 shares of Common Stock outstanding as of August 12, 2024, as disclosed in the Quarterly Report on Form 10-Q for the fiscal period ended June 30, 2024, filed by the Issuer with the SEC on August 14, 2024, and (ii) up to 4,000,000 shares of Common Stock issuable upon full exercise of Common Stock purchase warrants held by Ionic (the “Warrants”).

 

Ionic is the beneficial owner of 4,000,000 shares of Common Stock (the “Shares”). Ionic has the power to dispose of and the power to vote the Shares beneficially owned by it, which power may be exercised by its manager, Ionic Management. Each of the managers of Ionic Management, Mr. O’Neil and Mr. Coulston, has shared power to vote and/or dispose of the Shares beneficially owned by Ionic and Ionic Management. Neither Mr. O’Neil nor Mr. Coulston directly owns the Shares. By reason of the provisions of Rule 13d-3 of the Act, each of Mr. O’Neil and Mr. Coulston may be deemed to beneficially own the Shares which are beneficially owned by each of Ionic and Ionic Management, and Ionic Management may be deemed to beneficially own the Shares which are beneficially owned by Ionic. 

 

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.

 

Not applicable.

 

CUSIP No. 29358Y201   13G/A   Page 8 of 10 Pages

 

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.

 

See Exhibit 1 filed with Amendment No. 1.

 

Item 9. Notice of Dissolution of Group.

 

Not applicable.

 

Item 10. Certification.

 

By signing below each of the Reporting Persons certify that, to the best of each of their 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, other than activities solely in connection with a nomination under § 240.14a-11.

 

CUSIP No. 29358Y201   13G/A   Page 9 of 10 Pages

 

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: November 14, 2024 IONIC VENTURES, LLC
   
  By: Ionic Management, LLC,
    its Manager
   
  By: /s/ Keith Coulston
    Name: Keith Coulston
    Title: Manager
   
  IONIC MANAGEMENT, LLC
   
  By: /s/ Keith Coulston
    Name: Keith Coulston
    Title: Manager
     
  /s/ Brendan O’Neil
  Brendan O’Neil
     
  /s/ Keith Coulston
  Keith Coulston

 

CUSIP No. 29358Y201   13G/A   Page 10 of 10 Pages

 

LIST OF EXHIBITS

 

Exhibit
No.

 

Description

   
1   Joint Filing Agreement, dated February 14, 2024 (incorporated by reference to Exhibit 1 to Amendment No. 1 filed by the Reporting Persons with the SEC on February 14, 2024).