SEC FORM 4

SEC Form 4

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

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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^*

Lazarus Management Co LLC

(Last)

(First)

(Middle)

3200 CHERRY CREEK SOUTH DRIVE

SUITE 670

(Street)

DENVER

80209

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AUTHENTIDATE HOLDING CORP [ ADAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2015

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾								6,687,961⁽¹⁾	I	See Footnotes⁽³⁾⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			1,250,000	04/24/2015	10/25/2019	Common Stock	1,250,000	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		1,250,000		12/15/2015	12/15/2022	Common Stock	1,250,000	$0.00	1,250,000	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			357,142	04/24/2015	10/25/2019	Common Stock	357,142	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		357,142		12/15/2015	12/15/2022	Common Stock	357,142	$0.00	357,142	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			746,268	04/24/2015	10/25/2019	Common Stock	746,268	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		746,268		12/15/2015	12/15/2022	Common Stock	746,268	$0.00	746,268	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			330,000	04/24/2015	10/25/2019	Common Stock	330,000	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		330,000		12/15/2015	12/15/2022	Common Stock	330,000	$0.00	330,000	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			1,317,830	04/24/2015	10/25/2019	Common Stock	1,317,830	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		1,317,830		12/15/2015	12/15/2022	Common Stock	1,317,830	$0.00	1,317,830	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			2,000,000	05/07/2015	10/25/2019	Common Stock	2,000,000	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		2,000,000		12/15/2015	12/15/2022	Common Stock	2,000,000	$0.00	2,000,000	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾			232,394	05/07/2015	10/25/2019	Common Stock	232,394	$0.00	0	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.25	12/15/2015		J⁽²⁾		232,394		12/15/2015	12/15/2022	Common Stock	232,394	$0.00	232,394	I	See Footnotes⁽³⁾⁽⁴⁾
Warrant (right to buy)	$0.3	12/15/2015		J⁽⁵⁾		1,000,000		12/16/2016⁽⁶⁾	⁽⁶⁾	Common Stock	1,000,000	$0.00	1,000,000	I	See Footnotes⁽³⁾⁽⁴⁾

1. Name and Address of Reporting Person^*

Lazarus Management Co LLC

(Last)

(First)

(Middle)

3200 CHERRY CREEK SOUTH DRIVE

SUITE 670

(Street)

DENVER

80209

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

BORUS JUSTIN B

(Last)

(First)

(Middle)

3200 CHERRY CREEK SOUTH DRIVE

SUITE 670

(Street)

DENVER

80209

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LAZARUS INVESTMENT PARTNERS LLLP

(Last)

(First)

(Middle)

3200 CHERRY CREEK SOUTH DRIVE

SUITE 670

(Street)

DENVER

80209

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Lazarus Macro Micro Partners LLLP

(Last)

(First)

(Middle)

3200 CHERRY CREEK SOUTH DRIVE

SUITE 670

(Street)

DENVER

80209

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Includes 45,674 shares of common stock issued in lieu of cash dividends on shares of Series D preferred stock on June 30, 2015 for no consideration and at the Issuer's election. The transaction is exempt under Rule 16a-9(a) promulgated under the Securities Exchange Act of 1934.

2. The reported transactions involve an amendment of the warrants to amend the expiration date, resulting in the deemed cancellation of the old warrant and the simultaneous issuance of the new warrant for purposes of Section 16.

3. This form is filed jointly by Lazarus Management Company LLC ("Lazarus Management"), Justin B. Borus, Lazarus Investment Partners LLLP ("Lazarus Partners") and Lazarus Macro Micro Partners LLLP ("Macro Micro Partners" and together with Lazarus Partners, the "Funds"). The securities reported herein are owned directly by Lazarus Partners except for 7,500 shares of common stock owned directly by Macro Micro Partners. Lazarus Management is the investment adviser and general partner of the Funds and Mr. Borus is the manager of Lazarus Management.

4. Each of Lazarus Management and Mr. Borus expressly disclaims beneficial ownership of the securities held by the Funds except to the extent of his or its pecuniary interest therein. Each of the Funds expressly disclaims beneficial ownership of the shares held by the other Fund. The filing of this Form 4 shall not be construed as an admission that either Lazarus Management or Mr. Borus, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, is the beneficial owner of any of the securities reported herein.

5. Lazarus Partners was issued the warrant for no consideration in connection with a note exchange agreement pursuant to which it exchanged an existing promissory note for a new promissory note with a new interest rate and maturity date.

6. The warrant expires on the 54-month anniversary of the initial exercise date. The initial exercise date is the first business day following the 12-month anniversary of the issue date, provided, in the event that the Issuer enters into a definitive agreement for the acquisition of all of the outstanding membership interests of Peachstate Health Management LLC (d/b/a AEON Clinical Laboratories) and consummates the initial closing as contemplated by the definitive agreement, then the initial exercise date of the warrant is the 3-year anniversary of the initial closing under the definitive agreement.

Remarks:

	Lazarus Management Company LLC By: /s/ Justin B. Borus, Manager	12/17/2015
	Lazarus Investment Partners LLLP By: Lazarus Management Company LLC, its general partner By: /s/ Justin B. Borus, Manager	12/17/2015
	Lazarus Macro Micro Partners LLLP By: Lazarus Management Company LLC, its general partner by: /s/ Justin B. Borus, Manager	12/17/2015
	/s/ Justin B. Borus	12/17/2015
	** Signature of Reporting Person	Date
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