-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MAoq1giSS3JObXQ4pFnuTIZVg+5hAUKrNurHJ+xvMGbxsKfalhVWp03yOI8J/7C8 4tU7ivONajdrm+5btN19qQ== 0001181431-04-000187.txt : 20040102 0001181431-04-000187.hdr.sgml : 20040101 20040102160154 ACCESSION NUMBER: 0001181431-04-000187 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031222 FILED AS OF DATE: 20040102 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: AVNET AMIT CENTRAL INDEX KEY: 0001274777 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-12966 FILM NUMBER: 04501373 MAIL ADDRESS: STREET 1: SELWAY PARTNERS LLC STREET 2: 57 FOREST AVE CITY: PARAMUS STATE: NJ ZIP: 07652 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: INSCI CORP CENTRAL INDEX KEY: 0000878612 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 061302773 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 BUSINESS ADDRESS: STREET 1: TWO WESTBOROUGH BUSINESS PARK CITY: WESTBOROUGH STATE: MA ZIP: 01581 BUSINESS PHONE: 5088704000 MAIL ADDRESS: STREET 1: TWO WESTBOROUGH BUSINESS PARK CITY: WESTBOROUGH STATE: MA ZIP: 01581 FORMER COMPANY: FORMER CONFORMED NAME: INSCI STATEMENTS COM CORP DATE OF NAME CHANGE: 19991222 FORMER COMPANY: FORMER CONFORMED NAME: INSCI CORP DATE OF NAME CHANGE: 19940411 3 1 rrd27440.xml FORM 3 X0201 32003-12-22 0 0000878612 INSCI CORP INSS 0001274777 AVNET AMIT SELWAY PARTNERS, LLC 52 FOREST AVENUE PARAMUS NJ 07652 1000Common Stock1068896ISelway Partners, LLCCommon Stock Warrants0.722008-11-30Common Stock< underlyingSecurityShares>200000ISelway Partners, LLCSeries A Convertible Preferred Stock WarrantsCommon Stock2727269ISelway Partners, LLCSeries B Convertible Preferred Stock0.097Common Stock34351100ISelway Partners, LLCSubordinated Convertible DebenturesCommon Stock8024290ISelway Partners, LLCThe Reporting Person has a membership interest in Selway Partners, LLC ("Selway"). The Reporting Person disclaims beneficial ownership of the securities held by Selway, except to the extent of his pecuniary interest therein.Exercisable at any time prior to November 30, 2007.Warrants for 173,077 shares of Series A Convertible Preferred Stock (the "Series A Preferred Stock") are exercisable at any time prior to November 30, 2007; warrants for 57,692 shares of Series A Preferred Stock are exercisable at any time prior to January 30, 2008.Warrants for 173,077 shares of Series A Preferred Stock expire on November 30, 2007; warrants for 57,692 shares of Series A Preferred Stock expire on January 30, 2008.Pursuant to the Amended and Restated Preferred Stock Warrants, Selway has the right to purchase 230,769 shares Series A Preferred Stock at $1.44 per share, subject to adjustment for certain dilutive issuances. Such Series A Preferred Stock is convertible into 2,727,269 shares of the Issuer's common stock (the "Common Stock").Exercisable at any time.No expiration date.As of 12/22/03, the principal amount of the Convertible Subordinated Debentures was $882,672. Selway has the right to convert the principal and accrued interest into shares of Series A Preferred Stock, at a conversion price of $1.30, subject to adjustments in the event of certain dilutive issuances, at any time prior to the maturity date, December 1, 2005. The number of shares of Series A Preferred Stock that the principal could convert into as of 12/22/03, at a price of $1.30 per share, was 678,978, which is convertible into 8,024,290 shares of Common Stock./s/ Amit Avnet2004-01-02 -----END PRIVACY-ENHANCED MESSAGE-----