SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13D-1(A) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A)
(AMENDMENT NO. 8)(1)
FORWARD INDUSTRIES, INC.
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(NAME OF ISSUER)
COMMON STOCK
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(TITLE OF CLASS OF SECURITIES)
34986210
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(CUSIP NUMBER)
ROBERT ELLIN
C/O TRINAD CAPITAL LP
153 EAST 53RD ST., 48TH FLOOR
NEW YORK, NY 10022
(212) 521-5180
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND
COMMUNICATIONS)
APRIL 5, 2002
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(c), 13d-1(f) or 13d-1(g), check the following
box. |_|
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits.
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(1) 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).
See Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
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CUSIP NO. 34986210 13D
------------------------ --------------------------
--------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ROBERT S. ELLIN
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) X
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
--------- ----------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2 (e)
|_|
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
--------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 2,500
SHARES ----- -------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER 214,600
EACH ----- -------------------------------------------------
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER 2,500
----- -------------------------------------------------
10 SHARED DISPOSITIVE POWER 214,600
------------------------ ----- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
217,100
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 3.50% (1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
--------- ----------------------------------------------------------------------
(1) ON THE BASIS OF 6,210,641 SHARES OF COMMON STOCK REPORTED BY THE COMPANY
TO BE ISSUED AND OUTSTANDING AS OF JULY 21, 2004 IN THE COMPANY'S LATEST
QUARTERLY REPORT ON FORM 10-QSB, AS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON JULY 21, 2004.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 34986210 13D
------------------------ --------------------------
--------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ROBERT S. ELLIN FAMILY 1997 TRUST
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) X
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
--------- ----------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2 (e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES
--------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 2,000
SHARES ----- -------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER 2,000
EACH ----- -------------------------------------------------
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER 2,000
----- -------------------------------------------------
10 SHARED DISPOSITIVE POWER 2,000
------------------------ ----- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,000
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.03% (1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON OO
--------- ----------------------------------------------------------------------
(1) ON THE BASIS OF 6,210,641 SHARES OF COMMON STOCK REPORTED BY THE COMPANY
TO BE ISSUED AND OUTSTANDING AS OF JULY 21, 2004 IN THE COMPANY'S LATEST
QUARTERLY REPORT ON FORM 10-QSB, AS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON JULY 21, 2004.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 34986210 13D
------------------------ --------------------------
--------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ATLANTIS EQUITIES, INC. 113080809
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) X
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
--------- ----------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2 (e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES
--------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 0
SHARES ----- -------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER 0
EACH ----- -------------------------------------------------
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER 0
----- -------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
------------------------ ----- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.00% (1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
--------- ----------------------------------------------------------------------
(1) ON THE BASIS OF 6,210,641 SHARES OF COMMON STOCK REPORTED BY THE COMPANY
TO BE ISSUED AND OUTSTANDING AS OF JULY 21, 2004 IN THE COMPANY'S LATEST
QUARTERLY REPORT ON FORM 10-QSB, AS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON JULY 21, 2004.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ --------------------------
CUSIP NO. 34986210 13D
------------------------ --------------------------
--------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ROBERT ELLIN PROFIT SHARING PLAN
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) X
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
--------- ----------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2 (e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES
--------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 0
SHARES ----- -------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER 214,600
EACH ----- -------------------------------------------------
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER 0
----- -------------------------------------------------
10 SHARED DISPOSITIVE POWER 214,600
------------------------ ----- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
214,600
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 3.46% (1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
--------- ----------------------------------------------------------------------
(1) ON THE BASIS OF 6,210,641 SHARES OF COMMON STOCK REPORTED BY THE COMPANY
TO BE ISSUED AND OUTSTANDING AS OF JULY 21, 2004 IN THE COMPANY'S LATEST
QUARTERLY REPORT ON FORM 10-QSB, AS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON JULY 21, 2004.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ --------------------------
CUSIP NO. 34986210 13D
------------------------ --------------------------
--------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
NANCY J. ELLIN
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) X
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS * N/A
--------- ----------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2 (e)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES
--------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 39,450
SHARES ----- -------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER 0
EACH ----- -------------------------------------------------
REPORTING
PERSON WITH 9 SOLE DISPOSITIVE POWER 39,450
----- -------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
------------------------ ----- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
39,450
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.64% (1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON CO
--------- ----------------------------------------------------------------------
(1) ON THE BASIS OF 6,210,641 SHARES OF COMMON STOCK REPORTED BY THE COMPANY
TO BE ISSUED AND OUTSTANDING AS OF JULY 21, 2004 IN THE COMPANY'S LATEST
QUARTERLY REPORT ON FORM 10-QSB, AS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON JULY 21, 2004.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INTRODUCTORY STATEMENT
This Amendment No. 8 to Schedule 13D (this "Amendment"), amends the Schedule 13D
filed in September 1998 (the "Schedule 13D"), as amended by Amendment No. 1 to
Schedule 13D filed in October 1998, Amendment No. 2 to Schedule 13D filed in
December 1998, Amendment No. 3 to Schedule 13D filed in May 1999, Amendment No.
4 to Schedule 13D filed in September 2000, Amendment No. 5 to Schedule 13D filed
in August 2001 and Amendment No. 6 to Schedule 13D, filed in December 2001, and
Amendment No. 7 filed in April 2002 by Robert S. Ellin, Robert Ellin Family 1997
Trust (the "Trust"), Atlantis Equities, Inc. ("Atlantis"), Robert Ellin Profit
Sharing Plan (the "Plan") and Nancy J. Ellin (collectively, the "Reporting
Persons"). This Amendment relates to the common stock, par value $0.01 per share
(the "Common Stock"), of Forward Industries, Inc., a New York corporation (the
"Company"). The address of the principal executive offices of the Company is
1801 Green Road, E. Pompano Beach, Florida 33064. This amendment amends and
restates in its entirety Item 4 and Item 5 of the Schedule 13-D. Except as
provided herein, the Schedule 13-D remains in full force and effect.
The Reporting Persons believed that an Amendment No. 8 was previously filed in
connection with the transactions set forth in this Amendment, but there is no
evidence of such filing on the Security and Exchange Commission's website. The
Reporting Persons believe that this prior amendment was erroneously filed for
the wrong issuer.
ITEM 4. PURPOSE OF TRANSACTION
On each of the following dates and at the following prices per share the
Reporting Persons made sales of Common Stock on the open market:
ROBERT ELLIN FAMILY 1997 TRUST
DATE NUMBER OF SHARES SOLD PRICE PER SHARE
03/01/04 400 2.232
03/01/04 2,000 2.239
03/02/04 6,500 2.232
03/02/04 500 2.242
04/21/04 400 2.283
04/21/04 100 2.233
04/21/04 100 2.161
09/14/04 10,000 2.150
09/14/04 5,000 2.155
09/14/04 2,500 2.160
09/20/04 3,400 2.094
09/21/04 200 1.900
09/24/04 300 2.026
09/27/04 4,100 2.152
ATLANTIS EQUITIES, INC.
DATE NUMBER OF SHARES SOLD PRICE PER SHARE
2/25/02 100 0.95
2/27/02 800 0.92
2/27/02 1,000 0.96
2/27/02 2,200 0.93
2/27/02 3,000 0.93
2/28/02 100 0.93
2/28/02 1,000 0.93
2/28/02 1,000 0.94
2/28/02 1,000 0.94
03/01/02 100 0.97
03/01/02 3,000 0.93
03/05/02 800 0.93
03/05/02 1,000 0.90
03/11/02 1,500 0.94
03/11/02 3,000 0.94
03/12/02 500 0.94
03/12/02 500 0.92
03/12/02 500 0.93
03/12/02 500 0.91
03/12/02 1,000 0.91
03/12/02 3,000 0.91
03/15/02 1,500 0.91
03/18/02 2,000 0.98
03/18/02 3,000 0.98
03/19/02 100 0.93
03/19/02 400 0.96
03/19/02 400 0.92
03/19/02 600 0.93
03/19/02 900 0.93
03/19/02 1,500 0.92
03/20/02 1,000 0.91
03/20/02 1,200 0.90
03/20/02 1,700 0.90
03/26/02 1,000 0.91
03/26/02 2,600 0.91
03/27/02 100 0.89
03/27/02 1,500 0.90
03/28/02 500 0.93
03/28/02 1,200 0.93
04/01/02 100 0.92
04/02/02 3,000 0.88
04/03/02 1,000 0.88
04/05/02 1,500 0.83
04/05/02 1,500 0.83
04/05/02 1,500 0.83
04/05/02 1,800 0.83
04/08/02 500 0.89
04/08/02 500 0.87
04/08/02 500 0.88
04/08/02 500 0.86
04/08/02 500 0.85
04/08/02 1,000 0.84
04/08/02 500 0.83
04/09/02 500 0.85
04/09/02 1,500 0.85
04/10/02 1,000 0.87
04/12/02 100 0.83
04/12/02 900 0.84
06/26/02 3,000 0.74
07/05/02 400 0.73
07/05/02 1,000 0.72
07/05/02 1,100 0.73
07/05/02 1,500 0.73
07/05/02 2,000 0.74
07/05/02 3,000 0.74
07/05/02 3,000 0.73
07/08/02 6,000 0.76
07/12/02 500 0.70
07/12/02 1,500 0.68
07/12/02 3,000 0.68
07/12/02 9,000 0.79
07/22/02 1,000 0.81
07/22/02 1,500 0.81
07/22/02 1,500 0.81
07/22/02 1,500 0.81
07/22/02 2,000 0.81
07/22/02 2,000 0.81
07/25/02 100 0.84
07/25/02 100 0.83
07/25/02 500 0.83
07/25/02 500 0.80
07/25/02 500 0.80
07/25/02 800 0.80
07/25/02 1,000 0.80
07/25/02 1,000 0.80
07/25/02 1,500 0.80
07/25/02 1,500 0.80
07/25/02 1,500 0.80
07/25/02 2,000 0.80
07/25/02 2,000 0.81
07/25/02 2,000 0.80
07/25/02 3,000 0.80
07/25/02 3,000 0.80
07/26/02 100 0.81
07/26/02 2,000 0.81
07/26/02 3,000 0.81
07/29/02 1,000 0.73
07/29/02 1,000 0.78
07/29/02 2,000 0.73
07/29/02 3,000 0.73
07/31/02 3,000 0.77
07/31/02 4,900 0.76
08/28/02 10,000 0.74
08/29/02 2,000 0.75
08/29/02 3,000 0.73
08/29/02 3,500 0.73
08/29/02 5,000 0.73
09/06/02 300 0.84
09/06/02 4,700 0.84
09/06/02 10,000 0.75
09/24/02 10,000 0.75
10/02/02 800 0.77
10/08/02 500 0.73
10/08/02 1,000 0.73
10/08/02 1,000 0.73
10/09/02 5,000 0.77
ROBERT ELLIN PROFIT SHARING PLAN
DATE NUMBER OF SHARES SOLD PRICE PER SHARE
02/27/03 3,100 2.02
03/04/03 3,500 1.98
03/06/03 1,150 1.92
03/07/03 3,000 1.83
03/13/03 3,000 1.65
03/26/03 5,000 1.97
03/31/03 2,500 1.95
04/08/03 5,000 1.81
04/09/03 6,850 1.81
04/11/03 4,000 1.89
04/14/03 3,500 1.92
04/16/03 5,000 1.87
04/17/03 4,000 1.96
04/21/03 3,500 1.95
04/22/03 4,000 2.05
04/23/03 5,000 2.04
04/24/03 11,000 2.31
05/02/03 3,500 1.89
05/05/03 7,000 1.87
05/08/03 12,000 1.85
05/12/03 5,000 1.88
05/15/03 10,000 2.02
05/20/03 5,000 1.89
05/21/03 5,000 1.87
NANCY J. ELLIN
DATE NUMBER OF SHARES SOLD PRICE PER SHARE
03/12/02 885 0.91
03/13/02 2,465 0.96
09/24/02 10,000 0.75
09/25/02 10,000 0.75
09/26/02 20,000 0.75
10/02/02 100 0.76
10/08/02 100 0.73
10/08/02 1,000 0.73
10/08/02 1,000 0.73
10/08/02 1,400 0.73
10/08/02 4,000 0.73
10/09/02 600 0.78
10/17/02 3,300 0.72
01/17/02 7,000 0.72
10/01/02 2,700 0.72
10/22/02 5,000 0.75
10/30/02 5,000 0.75
10/31/02 2,300 0.76
10/31/02 100 0.76
10/31/02 200 0.76
10/31/02 300 0.76
10/31/02 700 0.76
10/31/02 100 0.76
10/31/02 1,200 0.76
10/31/02 100 0.76
10/31/02 100 0.76
10/31/02 100 0.76
10/31/02 200 0.76
10/31/02 200 0.76
10/31/02 100 0.76
10/31/02 1,200 0.76
10/31/02 100 0.76
The Reporting Persons currently have no plan or proposal which relates to or
would result in any of the actions or transactions described in paragraphs (a)
through (j) of Item 4 of the instructions to this Report.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b)
After taking into account the transactions set forth in Item 4 above: (i) Robert
Ellin is deemed to beneficially own an aggregate of 217,100 shares of Common
Stock, representing approximately 3.5% of the number of shares of Common Stock
stated to be outstanding by the Company in its Quarterly Report on Form 10-QSB,
as filed with the Securities and Exchange Commission on July 21, 2004; (ii) The
Trust is deemed to beneficially own an aggregate of 2,000 shares of Common
Stock, representing approximately 0.03% of the number of shares of Common Stock
stated to be outstanding by the Company in its Quarterly Report on Form 10-QSB,
as filed with the Securities and Exchange Commission on July 21, 2004; (iii)
Atlantis is deemed to beneficially own an aggregate of 0 shares of Common Stock,
representing approximately 0.0% of the number of shares of Common Stock stated
to be outstanding by the Company in its Quarterly Report on Form 10-QSB, as
filed with the Securities and Exchange Commission on July 21, 2004; (iv) The
Plan is deemed to beneficially own an aggregate of 214,600 shares of Common
Stock, representing approximately 3.46% of the number of shares of Common Stock
stated to be outstanding by the Company in its Quarterly Report on Form 10-QSB,
as filed with the Securities and Exchange Commission on July 21, 2004; and (v)
Nancy Ellin is deemed to beneficially own an aggregate of 39,450 shares of
Common Stock, representing approximately 0.64% of the number of shares of Common
Stock stated to be outstanding by the Company in its Quarterly Report on Form
10-QSB, as filed with the Securities and Exchange Commission on July 21, 2004.
Robert Ellin has sole power to vote and dispose of the 2,500 shares of
Common Stock owned by him. Robert Ellin shares the power to vote and dispose of
the 214,600 shares of Common Stock owned by the Plan. Marvin Ellin has sole
power to vote and dispose of the 2,000 shares of Common Stock owned by the
Trust. Nancy Ellin has sole power to vote and dispose of the 39,450 shares of
Common Stock owned by her. Robert Ellin disclaims beneficial ownership of the
Common Stock owned by Nancy Ellin and the Trust and this statement shall not be
construed as an admission that he is, for the purposes of Section 13(d) or 13(g)
of the Securities Exchange Act of 1934 or for any other purpose, the beneficial
owner of such securities. Nancy Ellin disclaims beneficial ownership of the
Common Stock owned by Robert Ellin, the Plan and the Trust and this statement
shall not be construed as an admission that she is, for the purposes of Section
13(d) or 13(g) of the Securities Exchange Act of 1934 or for any other purpose,
the beneficial owner of such securities.
(c)
Other than as set forth in this Amendment, the Reporting Persons and the
executive officers and directors listed in Item 2 of the Schedule 13-D have not
effected any transactions in the shares of the Company's equity securities
within the past 60 days.
(d)
Not applicable.
(e)
After taking into account the transactions set forth in Item 4 above: (i) as of
April 21, 2003 Robert Ellin beneficially owned less than 5.0% of the number of
shares of Common Stock stated to be outstanding by the Company in its Quarterly
Report on Form 10-QSB, as filed with the Securities and Exchange Commission on
January 21, 2003; (ii) as of April 17, 2003 the Plan beneficially owned less
than 5.0% of the number of shares of Common Stock stated to be outstanding by
the Company in its Quarterly Report on Form 10-QSB, as filed with the Securities
and Exchange Commission on January 21, 2003; and (iii) as of March 12, 2002
Nancy Ellin beneficially owned less than 5.0% of the number of shares of Common
Stock stated to be outstanding by the Company in its Quarterly Report on Form
10-QSB, as filed with the Securities and Exchange Commission on January 25,
2002. Neither the Trust nor Atlantis have ever beneficially owned more than 5.0%
of the number of shares of Common Stock stated to be outstanding by the Company.
After taking into account the transactions set forth in Item 4 above
(i) as a group, the Reporting Persons are deemed to beneficially own an
aggregate of 258,550 shares of Common Stock, representing approximately 4.16% of
the number of shares of Common Stock stated to be outstanding by the Company in
its Quarterly Report on Form 10-QSB, as filed with the Securities and Exchange
Commission on July 21, 2004;(ii) as of July 22, 2002, as a group, the Reporting
Persons beneficially owned less than 10.0% of the number of shares of Common
Stock stated to be outstanding by the Company in its Quarterly Report on Form
10-QSB, as filed with the Securities and Exchange Commission on May 6, 2002; and
(iii) as of November 14, 2003, as a group, the Reporting Persons beneficially
owned less than 5.0% of the number of shares of Common Stock stated to be
outstanding by the Company in its Quarterly Report on Form 10-KSB, as filed with
the Securities and Exchange Commission on November 14, 2003.
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: November 26, 2004
/s/ Robert S. Ellin
--------------------------------
Robert S. Ellin
ROBERT ELLIN FAMILY 1997 TRUST
By: /s/ Marvin Ellin, Trustee
--------------------------------
Marvin Ellin, Trustee
ATLANTIS EQUITIES, INC.
By: /s/ Nancy J. Ellin
--------------------------------
Nancy J. Ellin, President
ROBERT ELLIN PROFIT SHARING PLAN
By: /s/ Robert S. Ellin, Trustee
--------------------------------
Robert S. Ellin, Trustee
/s/ Nancy J. Ellin
--------------------------------
Nancy J. Ellin
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention. Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).