-----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, EiQheEJL4yttRa+e0Ei8qer28jFuqlVCokmrVXy4/pAU2qhIIrWaEwy9xkAnuhgv vLljp/zp2tH4uQGfIyeshA== 0001140361-09-007630.txt : 20090320 0001140361-09-007630.hdr.sgml : 20090320 20090320125729 ACCESSION NUMBER: 0001140361-09-007630 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080925 FILED AS OF DATE: 20090320 DATE AS OF CHANGE: 20090320 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Levin Michael CENTRAL INDEX KEY: 0001319848 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 09695389 MAIL ADDRESS: STREET 1: C/O METROPOLITAN VENTURE PARTNERS STREET 2: 257 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 631-873-2900 MAIL ADDRESS: STREET 1: 80 ORVILLE DRIVE CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 4 1 doc1.xml FORM 4 X0303 4 2008-09-25 0 0000879703 DIRECT INSITE CORP DIRI.OB 0001319848 Levin Michael 432 PARK AVENUE SOUTH 12TH FLOOR NEW YORK NY 10016 1 0 0 0 Common Stock 2008-09-25 4 M 0 934580 2.14 A 1118427 I Indirect Common Stock 2008-09-25 4 M 0 233650 2.14 A 1352077 I Indirect Common Stock 2008-09-25 4 M 0 178570 1.40 A 1530647 I Indirect Common Stock 2008-11-20 4 M 0 400000 0.75 A 1930647 I Indirect Common Stock 2008-11-20 4 M 0 176508 0.93 A 2107155 I Indirect Common Stock 2008-11-20 4 M 0 135502 0.92 A 2242657 I Indirect Common Stock 2008-11-20 4 M 0 100000 0.01 A 2342657 I Indirect Common Stock 2009-01-09 4 A 0 36703 0.54 A 2379630 I Indirect Common Stock 2009-01-09 4 A 0 5464 1.83 A 2384824 I Indirect Series A Preferred Stock 2.14 2008-09-25 4 M 0 934580 0 D 2002-10-04 2008-09-25 Common Stock 934580 0 I Indirect Series A Preferred Stock 2.14 2008-09-25 4 M 0 233650 0 D 2003-01-06 2008-09-25 Common Stock 233650 0 I Indirect Series A Preferred Stock 1.40 2008-09-25 4 M 0 178570 0 D 2003-06-05 2008-09-25 Common Stock 178570 0 I Indirect Option to Purchase 0.75 2008-11-20 4 M 0 400000 0 D 2005-12-01 2008-12-01 Common Stock 400000 0 I Indirect Common Stock Warrant (Right to Buy) 0.93 2008-11-20 4 M 0 176508 0 D 2005-12-18 2008-12-18 Common Stock 176508 0 I Indirect Common Stock Warrant (Right to Buy) 0.92 2008-11-20 4 M 0 135502 0 D 2006-03-15 2009-03-15 Common Stock 135502 0 I Indirect Common Stock Warrant (Right to Buy) 0.01 2008-11-20 4 M 0 150000 0 D 2005-12-10 2008-12-10 Common Stock 150000 0 I Indirect Common Stock Warrant (Right to Buy) 0.01 2008-11-20 4 M 0 100000 0 D 2005-03-13 2012-03-28 Common Stock 100000 0 I Indirect Series A Convertible Preferred Stock automatically converted to Common Stock on a 1-for-10 basis on September 25, 2008. The securities are owned by Metropolitan Venture Partners II, L.P. ("Met VP"). The Reporting Person is (a) a managing director of MetVP, (b) a limited partner in Metropolitan Venture Partners (Advisors), L.P. ("Advisors"), the general partner of the MetVP and (c) a director and shareholder of Metropolitan Venture Partners Corp., the general partner of Advisors. Accordingly, the Reporting Person may be deemed, pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended ("Exchange Act"), to beneficially and indirectly own the securities disclosed on this Form 4. Pursuant to Exchange Act Rule 16a-1(a)(4), this filing shall not be deemed an admission that Reporting Person, is the beneficial owner of the securities in excess of the amount of the Reporting Person's pecuniary interest therein, and the Reporting Person disclaims beneficial ownership of such shares. Shares were issued directly to MetVP in respect of director fees. Expired without being exercised. Does not include 2,000 shares of Common Stock owned directly by the Reporting Person. Reporting Person may be deemed to be a director for purposes of Section 16 of the Exchange Act by reason of its right to nominate one person to serve on the Board of Directors of the Company in accordance with terms and conditions of a Stock Purchase and Registration Rights Agreement dated as of September 25, 2002 by and between the Reporting Person and the Issuer. /s/ Michael Levin 2009-03-19 -----END PRIVACY-ENHANCED MESSAGE-----