0001144204-12-008073.txt : 20120214 0001144204-12-008073.hdr.sgml : 20120214 20120214075807 ACCESSION NUMBER: 0001144204-12-008073 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 GROUP MEMBERS: DENIS M. O'DONNELL GROUP MEMBERS: SEASIDE 88 ADVISORS, LLC GROUP MEMBERS: WILLIAM J. RITGER SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INTEGRATED FREIGHT Corp CENTRAL INDEX KEY: 0000783284 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 840868815 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-41084 FILM NUMBER: 12602537 BUSINESS ADDRESS: STREET 1: SUITE 200, 6371 BUSINESS BOULEVARD CITY: SARASOTA STATE: FL ZIP: 34240 BUSINESS PHONE: 941-907-8372 MAIL ADDRESS: STREET 1: SUITE 200, 6371 BUSINESS BOULEVARD CITY: SARASOTA STATE: FL ZIP: 34240 FORMER COMPANY: FORMER CONFORMED NAME: PLANGRAPHICS INC DATE OF NAME CHANGE: 20020510 FORMER COMPANY: FORMER CONFORMED NAME: INTEGRATED SPATIAL INFORMATION SOLUTIONS INC /CO/ DATE OF NAME CHANGE: 19981015 FORMER COMPANY: FORMER CONFORMED NAME: INTEGRATED SPATIAL INFORMATION SYSTEMS INC DATE OF NAME CHANGE: 19980710 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Seaside 88, LP CENTRAL INDEX KEY: 0001456844 IRS NUMBER: 262633116 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 750 OCEAN ROYALE WAY STREET 2: SUITE 805 CITY: JUNO BEACH STATE: HI ZIP: 33408 BUSINESS PHONE: 5618911903 MAIL ADDRESS: STREET 1: 750 OCEAN ROYALE WAY STREET 2: SUITE 805 CITY: JUNO BEACH STATE: HI ZIP: 33408 SC 13G 1 v302439_sc13g.htm SCHEDULE 13G

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

  

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

Integrated Freight Corporation
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
458166105
 (CUSIP Number)
 
January 26, 2012
(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)

 

     x 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 the disclosures provided in a prior cover page.

 

The information required in 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.   458166105              

   

           
1   NAMES OF REPORTING PERSONS
     Seaside 88, LP
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   Florida
   
       
  5   SOLE VOTING POWER
      3,943,261
NUMBER OF    
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     0
OWNED BY    
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     3,943,261
PERSON    
       
WITH: 8   SHARED DISPOSITIVE POWER
     0
     
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    3,943,261
   
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   9.9%
   
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   PN
   
2
 

 

 

                     
CUSIP No.   458166105                

 

           
1   NAMES OF REPORTING PERSONS
     Seaside 88 Advisors, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   Florida
   
       
  5   SOLE VOTING POWER
     3,943,261
NUMBER OF    
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     0
OWNED BY    
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     3,943,261
PERSON    
       
WITH: 8   SHARED DISPOSITIVE POWER
     0
     
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    3,943,261
   
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   9.9%
   
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   PN
   
3
 

 

 

                     
CUSIP No.   458166105                

 

           
1   NAMES OF REPORTING PERSONS
     William J. Ritger
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   Florida
   
       
  5   SOLE VOTING POWER
      0
NUMBER OF    
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    3,943,261
OWNED BY    
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
       
WITH: 8   SHARED DISPOSITIVE POWER
     3,943,261
     
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    3,943,261
   
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   9.9%
   
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   IN
   
4
 

 

 

                     
CUSIP No.   458166105                

 

           
1   NAMES OF REPORTING PERSONS
     Denis M. O’Donnell
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   Massachusetts
   
       
  5   SOLE VOTING POWER
      0
NUMBER OF    
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    3,943,261
OWNED BY    
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
       
WITH: 8   SHARED DISPOSITIVE POWER
     3,943,261
     
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    3,943,261
   
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   9.9%
   
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   IN
   
5
 

SCHEDULE 13G

 

Item 1(a)Name of Issuer.

Integrated Freight Corporation

 

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

6371 Business Boulevard, Suite 200, Sarasota, FL 34240

 

Item 2(a)Name of Person Filing.

Seaside 88, LP

Seaside 88 Advisors, LLC

William J. Ritger

Denis M. O’Donnell

 

Item 2(b)Address of Principal Business Office.

The principal business address of the reporting persons is 11911 US Highway One, Suite 201-13, North Palm Beach, FL 33408

 

Item 2(c)Place of Organization.

Reference is made to Item 4 of pages 2-5 of this Schedule 13G, which Items are incorporated herein by reference

 

Item 2(d)Title of Class of Securities.

Common Stock, $0.001 par value per share

 

Item 2(e)CUSIP Number.

458166105

 

Item 3If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

(a) o    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 

(b) o    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 

(c) o    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

 

(d) o    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

 

(e) o    An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

 

(f) o    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

 

(g) o   A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

 

6
 

 

(h) o   A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

(i) o    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

 

(j) o    Group, in accordance with §240.13d-1(b)(1)(ii)(J).

  

Item 4Ownership.

  

Reference is hereby made to Items 5-9 and 11 of pages 2-5 of this Schedule 13G, which Items are incorporated by reference herein.

 

The securities to which this Schedule relates (the “Securities”) are owned by Seaside 88, LP, a Florida limited partnership (“Seaside”), for which Seaside 88 Advisors, LLC serves as general partner.  William J. Ritger and Denis M. O’Donnell, as managing members of the general partner of Seaside, may therefore be deemed to beneficially own the Securities owned by Seaside for the purposes of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the “Act”), insofar as they may be deemed to have the power to direct the voting or disposition of those Securities.

 

Neither the filing of this Schedule nor any of its contents shall be deemed to constitute an admission that any of Seaside 88 Advisors, LLC, Mr. Ritger or Dr. O’Donnell is, for any other purpose, the beneficial owner of any of the Securities, and each of Seaside 88 Advisors, LLC, Mr. Ritger and Dr. O’Donnell disclaims beneficial ownership as to the Securities, except to the extent of his or its pecuniary interests therein.

 

Under the definition of “beneficial ownership” in Rule 13d-3 under the Act, it is also possible that the members of Seaside might be deemed the “beneficial owners” of some or all of the Securities insofar as they may be deemed to share the power to direct the voting or disposition of the Securities.  Neither the filing of this Schedule nor any of its contents shall be deemed to constitute an admission that any of such individuals is, for any purpose, the beneficial owner of any of the Securities, and such beneficial ownership is expressly disclaimed.

 

The calculation of the number of shares owned includes 3,400,000 shares currently owned by Seaside.   Seaside also has the right to purchase up to an additional 2,400,000 shares within 60 days of the date hereof pursuant to a common stock purchase warrant, although such warrant includes a prohibition against any exercise that would result in Seaside’s beneficial ownership of shares of the issuer’s common stock exceeding 9.99% of the shares outstanding immediately after giving effect to such exercise. Seaside currently has the right to acquire 543,261 shares, after giving effect to such limitation.

 

The calculation of percentage of beneficial ownership in Item 11 of pages 2-5 was derived from the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 as filed with the Securities and Exchange Commission on November 21, 2011, in which the Issuer stated that the number of shares of its common stock outstanding as of November 18, 2011 was 38,472,089 shares.

 

7
 

 

Item 5Ownership of Five Percent or Less of a Class.

Not applicable.

 

Item 6Ownership of More Than Five Percent on Behalf of Another Person.

Not applicable.

 

Item 7Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Not applicable.

 

Item 8Identification and Classification of Members of the Group.

Not applicable.

 

Item 9Notice of Dissolution of Group.

Not applicable.

 

Item 10Certification.

 

By signing below I certify that, to the best of my 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.

 

8
 

 

SIGNATURE

  

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. 

 

Date:  February 13, 2012   SEASIDE 88, LP
     
    By: SEASIDE 88 ADVISORS, LLC
     
      By: /s/ William J. Ritger
      William J. Ritger, Manager
     
    SEASIDE 88 ADVISORS, LLC
     
      By: /s/ William J. Ritger
      William J. Ritger, Manager
     
    WILLIAM J. RITGER
     
    /s/ William J. Ritger
    William J. Ritger
     
    DENIS M. O’DONNELL
     
    /s/ Denis M. O’Donnell
    Denis M. O’Donnell

 

EXHIBIT INDEX

 

Exhibit A Joint Filing Undertaking Page 10
9
 

 

EXHIBIT A

 

JOINT FILING UNDERTAKING

 

The undersigned, being authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13G to evidence the agreement of the below-named parties, in accordance with rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule, as it may be amended, jointly on behalf of each of such parties.

 

Dated: February 13, 2012     SEASIDE 88, LP
       
    By: SEASIDE 88 ADVISORS, LLC
       
      By: /s/ William J. Ritger
        William J. Ritger, Manager
     
    SEASIDE 88 ADVISORS, LLC
     
      By: /s/ William J. Ritger
        William J. Ritger, Manager
     
    WILLIAM J. RITGER
     
    /s/ William J. Ritger
    William J. Ritger
     
    DENIS M. O’DONNELL
     
    /s/ Denis M. O’Donnell
    Denis M. O’Donnell

 

10