FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
|
2. Issuer Name and Ticker or Trading Symbol
AURA SYSTEMS INC [ AURAQ ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
3. Date of Earliest Transaction
(Month/Day/Year) 01/17/2006 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Series B Cumulative Convertible Preferred Stock | $0.02 | 01/17/2006 | J(4) | 122,996(4) | 08/19/2004 | (6) | Common Stock | 30,149,000 | $0(5) | 404,459 | I | See Footnotes 1, 2 and 3(1)(2)(3) | |||
Warrant | $0.02 | 01/17/2006 | J(4) | 8,353,872(4) | 08/19/2004 | 08/19/2011 | Common Stock | 8,353,872 | $0(5) | 25,945,307 | I | See Footnotes 1, 2 and 3(1)(2)(3) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
| ||||||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
|
Explanation of Responses: |
1. The Reporting Persons are ICM Asset Management, Inc. ("ICM"), a Washington corporation and SEC-registered investment adviser, Koyah Ventures, LLC, a Delaware limited liability company ("Koyah Ventures"), James M. Simmons, Koyah Leverage Partners, L.P. and Koyah Partners, L.P., both Delaware limited partnerships, and collectively, the "Partnerships". ICM is the investment adviser to, and Koyah Ventures is the general partner of, investment limited partnerships, including the Partnerships. ICM is also the investment adviser to other client accounts. Mr. Simmons is the manager of Koyah Ventures and is the Chief Executive Officer and majority shareholder of ICM. |
2. Mr. Simmons, ICM and Koyah Ventures are filing this Form 4 jointly and constitute a group, but disclaim membership in a group with any other person within the meaning of Rule 13d-5(b)(i) and Rule 16a-1(a)(1) under the Securities Exchange Act of 1934, as amended (the "Act"). These securities are held directly by investment limited partnerships of which ICM is the investment adviser and Koyah Ventures is the general partner, including the Partnerships. They are held indirectly by ICM, Koyah Ventures and Mr. Simmons. The Reporting Persons disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein. |
3. The Partnerships are not members of a group, and each expressly disclaims membership in a group, within the meaning of Rule 13d-5(b)(i) and Rule 16a-1(a)(1), with any other person. Each Partnership also disclaims that it is the beneficial owner, as defined in Rule 13d-3 under the Act, of any of the Issuer's securities. Except for the Partnerships, no client account of ICM owns more than ten percent of the issuer's outstanding common stock. |
4. The Reporting Persons acquired these securities in good faith in connection with a debt previously contracted within the meaning of Section 16(b) of the Act. |
5. This zero is a placeholder only that is required by the EDGAR software and should be disregarded. As described in note 4, these securities were not purchased by the Reporting Persons. |
6. Expiration date is not applicable. |
Remarks: |
The Issuer's Certificate of Incorporation entitles the holders of the Series B cumulative Convertible Preferred Stock (the "Series B Stock") to elect four of the Issuer's directors for as long as the Series B Stock is outstanding. The holders of the Series B Stock have agreed, among other things, to use their best efforts to cause the size of the Issuer's board of directors to remain at seven directors at all times and that Koyah Leverage Partners, L.P. has the right to elect one of the four directors that the holders of the Series B Stock are entitled to elect. Koyah Leverage Partners, L.P. has elected an individual as its designated director. |
ICM Asset Management, Inc. by Robert J. Law, Senior Vice President | 01/19/2006 | |
Koyah Ventures, LLC by Robert J. Law, Senior Vice President | 01/19/2006 | |
James M. Simmons | 01/19/2006 | |
Koyah Partners, L.P. by Koyah Ventuires, LLC, General Partner, by Robert J. Law, Senior Vice President | 01/19/2006 | |
Koyah Leverage Partners, L.P. by Koyah Ventures, LLC, General Partner by Robert J. Law, Senior Vice President | 01/19/2006 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |