SC 13G 1 v09580_sc13g.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b) TIDEL TECHNOLOGIES, INC. (Name of Issuer) Common Stock ------------ (Title of Class of Securities) 886368109 (CUSIP Number) November 26, 2004 ----------------- (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 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). -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Laurus Master Fund, Ltd. ------------------------ S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0337673 ------------------------------------------------- -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] ------------------------------------------------ (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY ------------ -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION ------------------------------------ Cayman Islands -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 1,251,000 shares of Common Stock SHARES ----------------- BENEFICIALLY OWNED BY -------------------------------------------------------------- EACH REPORTING 6 SHARED VOTING POWER PERSON ------------------- None -------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER: 1,251,000 shares of Common Stock ---------------------- -------------------------------------------------------------- 8 SHARES DISPOSITIVE POWER ------------------------ None -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON ------------------------------------------------------------ 1,251,000 shares of Common Stock -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------- Not applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 ----------------------------------------------- 7.2% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON ------------------------ CO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Laurus Capital Management, LLC ------------------------ S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-4150669 ------------------------------------------------- -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] ------------------------------------------------ (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY ------------ -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION ------------------------------------ Delaware -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 1,251,000 shares of Common Stock SHARES ----------------- BENEFICIALLY OWNED BY ----------------------------------------------------------- EACH REPORTING 6 SHARED VOTING POWER PERSON ------------------- None ----------------------------------------------------------- 7 SOLE DISPOSITIVE POWER: 1,251,000 shares of Common Stock ---------------------- ----------------------------------------------------------- 8 SHARES DISPOSITIVE POWER ------------------------ None -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON ------------------------------------------------------------ 1,251,000 shares of Common Stock -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------- Not applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 ----------------------------------------------- 7.2% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON ------------------------ OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: David Grin ------------------------ -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] ------------------------------------------------ (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY ------------ -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION ------------------------------------ Israel -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 1,251,000 shares of Common Stock SHARES ----------------- BENEFICIALLY OWNED BY ----------------------------------------------------------------- EACH REPORTING PERSON 6 SHARED VOTING POWER ------------------- None ----------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER: 1,251,000 shares of Common Stock ---------------------- ----------------------------------------------------------------- 8 SHARES DISPOSITIVE POWER ------------------------ None -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON ------------------------------------------------------------ 1,251,000 shares of Common Stock -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------- Not applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 ----------------------------------------------- 7.2% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON ------------------------ IN -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Eugene Grin ------------------------ -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] ------------------------------------------------ (b) [ ] -------------------------------------------------------------------------------- 3 SEC USE ONLY ------------ -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION ------------------------------------ United States -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 1,251,000 shares of Common Stock SHARES ----------------- BENEFICIALLY OWNED BY ----------------------------------------------------------------- EACH REPORTING 6 SHARED VOTING POWER PERSON ------------------- None ----------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER: 1,251,000 shares of Common Stock ---------------------- ----------------------------------------------------------------- 8 SHARES DISPOSITIVE POWER ------------------------ None -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON ------------------------------------------------------------ 1,251,000 shares of Common Stock -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------- Not applicable -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 ----------------------------------------------- 7.2% -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON ------------------------ IN -------------------------------------------------------------------------------- Item 1(a). Name of Issuer: Tidel Technologies, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 2900 Wilcrest, Suite 205, Houston, Texas 77042 Item 2(a). Name of Person Filing: Laurus Master Fund, Ltd. This Schedule 13G is also filed on behalf of Laurus Capital Management, LLC, a Delaware limited liability company, Eugene Grin and David Grin. Laurus Capital Management, LLC manages Laurus Master Fund, Ltd. Eugene Grin and David Grin are the sole members of Laurus Capital Management, LLC. Information related to each of Laurus Capital Management, LLC, Eugene Grin and David Grin is set forth on Appendix A hereto. Item 2(b). Address of Principal Business Office or if none, Residence: c/o Laurus Capital Management, LLC, 825 Third Avenue, 14th Floor, New York, NY 10022 Item 2(c). Citizenship: Cayman Islands Item 2(d). Title of Class of Securities: Common Stock ("Common Stock") Item 2(e). CUSIP Number: 886368109 Item 3. Not Applicable Item 4. Ownership: (a) Amount Beneficially Owned: 1,251,000 shares of Common Stock (b) Percent of Class: 7.2% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 1,251,000 shares of Common Stock (ii) shared power to vote or to direct the vote: None (iii)sole power to dispose or to direct the disposition of: 1,251,000 shares of Common Stock (iv) shared power to dispose or to direct the disposition of: None 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 Item 7. Identification and Classification of Subsidiary Which Acquired the Securities: Not applicable Item 8. Identification and Classification of Members of the Group: Not applicable Item 9. Notice of Dissolution of Group: Not applicable Item 10. Certification: By signing below, I certify 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. SIGNATURE 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. December 3, 2004 --------------------------- Date /s/ David Grin --------------------------- David Grin Director APPENDIX A A. Name: Laurus Capital Management, LLC, a Delaware limited liability company 825 Third Avenue, 14th Floor New York, New York 10022 Place of Organization: Delaware B. Name: Eugene Grin Business 825 Third Avenue, 14th Floor Address: New York, New York 10022 Principal Director of Laurus Master Fund, Ltd. Occupation: Member of Laurus Capital Management, LLC Citizenship: United States C. Name: David Grin Business 825 Third Avenue, 14th Floor Address: New York, New York 10022 Principal Director of Laurus Master Fund, Ltd. Occupation: Member of Laurus Capital Management, LLC Citizenship: Israel Each of Laurus Capital Management, LLC, Eugene Grin and David Grin hereby agree, by their execution below, that the Schedule 13G to which this Appendix A is attached is filed on behalf of each of them, respectively. Laurus Capital Management, LLC /s/ David Grin ----------------------------------------- David Grin Member December 3, 2004 /s/ Eugene Grin, on his individual behalf ----------------------------------------- Eugene Grin December 3, 2004 /s/ David Grin, on his individual behalf ----------------------------------------- David Grin December 3, 2004