SC 13G/A 1 v174568_sc13ga.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

SCHEDULE 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b),(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2

(Amendment No. _2_)*

WITS BASIN PRECIOUS MINERALS INC.
(Name of Issuer)

COMMON STOCK, $.01 PAR VALUE
 (Title of Class of Securities)

977427 10 3
 (CUSIP Number)

December 31, 2009
 (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  remainder  of this  cover  page  shall be filled  out for a  reporting person's  initial  filing on this form with respect to the subject class of securities,  and for any subsequent amendment containing  information which would alter the disclosures provided in a prior cover page.

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 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).
 
 
CUSIP No. 977427 10 3
13G
Page 2 of 6 Pages
     
1.
  
NAME OF REPORTING PERSONS
     
   
Pacific Dawn Capital, LLC (“Pacific”)
     
2.
  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)  ¨  
   
(b)  ¨  
     
3.
  
SEC USE ONLY
     
     
4.
  
CITIZENSHIP OR PLACE OF ORGANIZATION
     
   
California
     
NUMBER OF
5.
SOLE VOTING POWER
     
SHARES
  
7,168,976
     
BENEFICIALLY  
6.
SHARED VOTING POWER
     
OWNED BY
  
0
     
EACH
7.
SOLE DISPOSITIVE POWER
     
REPORTING
  
7,168,976
     
PERSON
8.
SHARED DISPOSITIVE POWER
     
WITH
  
0
     
9.
  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
7,168,976
     
10.
  
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
   
(See Exhibit B)                                                                                                                                               x
     
11.
  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
   
4.2%
     
12.
  
TYPE OF REPORTING PERSON*
     
OO (Limited Liability Company)
 
 
 
CUSIP No. 977427 10 3
13G
Page 3 of 6 Pages
     
1.
  
NAME OF REPORTING PERSONS
     
   
Donald S. Stoica
     
2.
  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)  ¨  
   
(b)  ¨  
     
3.
  
SEC USE ONLY
     
     
4.
  
CITIZENSHIP OR PLACE OF ORGANIZATION
     
   
USA
     
NUMBER OF
5.
SOLE VOTING POWER
     
SHARES
  
7,608,976
     
BENEFICIALLY  
6.
SHARED VOTING POWER
     
OWNED BY
  
0
     
EACH
7.
SOLE DISPOSITIVE POWER
     
REPORTING
  
7,608,976
     
PERSON
8.
SHARED DISPOSITIVE POWER
     
WITH
  
0
     
9.
  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
7,608,976
     
10.
  
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                                         o
     
11.
  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
   
4.5%
     
12.
  
TYPE OF REPORTING PERSON*
     
IN
 
 
 

CUSIP No. 977427 10 3
13G
Page 4 of 6 Pages

Item 1(a).  Name of Issuer:

WITS BASIN PRECIOUS MINERALS INC.
 
Item 1(b).  Address of Issuer's Principal Executive Offices:
900 IDS Center, 80 South 8th Street
MINNEAPOLIS, MINNESOTA 55402-8773

Item 2(a).  Name of Person Filing:

This form is being filed by Pacific Dawn Capital, LLC, a California limited liability company; and Donald S. Stoica, a citizen of the United States of America.

Item 2(b).  Address of Principal Business Office, or if None, Residence:

2556 W. Woodland Drive, Anaheim, CA   92801

Item 2(c).  Citizenship:

See item 2(a) above

Item 2(d).  Title of Class of Securities:

COMMON STOCK, $.01 PAR VALUE

Item 2(e).  CUSIP Number:

977427 10 3

Item 3.     If This Statement  is Filed  Pursuant to  '' 240.13d-1(b), 240.13d-2(b) or (c), check Whether the person filing is a:

(a)
o
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
(b)
o
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
o
Insurance  company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
     
(d)
o
Investment  company  registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
     
(e)
o
An investment adviser in accordance with ' 240.13d-1(b)(1)(ii)(E);
(f)
o
An employee  benefit plan or endowment  fund in  accordance  with ' 240.13d-1(b)(1)(ii)(F);
     
(g)
o
A parent  holding  company or control  person in accordance  with ' 240.13d-1(b)(1)(ii)(G);
     
(h)
o
A savings  association  as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
     
(i)
o
A  church  plan  that  is  excluded  from  the  definition  of an investment  company  under  Section  3(c)(14)  of the  Investment Company Act (15 U.S.C. 80a-3);
     
(j)
o
A non-U.S. institution in accordance with ' 240.13d-1(b)(1)(ii)(J);
     
(k)
o
Group, in accordance with Rule ' 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with ' 240.13d-1(b)(1)(ii)(J), please specify the type of institution:  __________________________.

 
 
 

CUSIP No. 977427 10 3
13G
Page 5 of 6 Pages

Item 4.       Ownership.

Provide  the  following  information  regarding  the  aggregate  number and percentage of the class of securities of the issuer identified in Item 1.
(a)  Amount beneficially owned:

7,608,976 (which includes warrants to purchase 2,666,667 shares and options to purchase 400,000 shares)

(b) Percent of class:

 
Pacific beneficially owns 4.2%; Mr. Stoica may be deemed to beneficially own 4.5%, by virtue of his position as a member, director and officer of Pacific.  (Based upon 166,958,775 shares outstanding as reported by the Issuer on February 12, 2010)
   
(c)  Number of shares as to which such person has:

(i)       Sole power to vote or to direct the vote:
7,608,976
   
(ii)      Shared power to vote or to direct the vote:
  
 
0
   
(iii)     Sole power to dispose or to direct the disposition of:
  
 
7,608,976
   
(iv)     Shared power to dispose or to direct the disposition of:
 
0

Item 5.       Ownership of Five Percent or Less of a Class.

The Reporting Person beneficially owns less than 5%.                                                                                                       x

Item 6.       Ownership of More Than Five Percent on Behalf of Another Person.
N/A
 
Item 7.       Identification and  Classification of the Subsidiary Which Acquired the Security  Being  Reported on by the Parent  Holding  Company or Control Person.

N/A

Item 8.       Identification  and  Classification  of Members of the Group.

Item 9.       Notice of Dissolution of Group.
 
 
Item 10.  Certifications.

(a)  Not applicable.

(b)  Not applicable.

(c) By signing below I certify that, 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.

Dated: February 16, 2010
PACIFIC DAWN CAPITAL, LLC
     
 
By:
/s/ Donald S. Stoica
   
  Donald S. Stoica
     
 
/s/ Donald S. Stoica
  DONALD S. STOICA