UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Series A Convertible Preferred Stock (Preferred Stock) | Â (2) | Â (2) | Common Stock | 1,643,092 | $ 0 (3) | I (1) | See footnote 1 |
Common Stock Warrants (rights to buy) | 08/23/1998 | 12/31/2005 | Common Stock | 385,000 | $ 0.01 | I (1) | See footnote 1 |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Summit Investment Management LLC 1700 LINCOLN STREET SUITE 2150 DENVER, CO 80203 |
 |  X |  |  |
/s/ Robert A. Ekback, on behalf of Summit Investment Management LLC | 06/26/2006 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The shares of Common Stock and derivative securities to which this note relates are held indirectly by Summit Investment Management LLC ("Summit Investment") in its capacity as one of the members of SummitBridge National Investments LLC ("SummitBridge LLC"). The shares of Common Stock and derivative securities to which this note relates are owned directly by SummitBridge LLC. As a result, Summit Investment may be deemed to have beneficial ownership of these securities for purposes of Section 16. Summit Investment expressly disclaims beneficial ownership of any of these securities in which it does not have a pecuniary interest. |
(2) | Series A Convertible Preferred Stock is convertible into Common Stock at any time. There is no expiration date. |
(3) | The Issuer's Articles of Amendment of the Articles of Incorporation provide that the conversion price is calculated by multiplying each share of Preferred Stock by $1.00 and dividing by $3.00. The shares of Preferred Stock are also subject to antidilution protection. SummitBridge LLC directly holds 4,929,275 shares of the Issuer's Preferred Stock. |