Odimo Inc - Amended Statement of Ownership (SC 13G/A)
05 Maio 2008 - 2:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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(b)
(Amendment No. 5)
Odimo, Inc.
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
67606R107
(CUSIP Number)
April 3, 2008
(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 ("Act") 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.___________ 13G Page __ of___ Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Strategic Turnaround Equity Partners, LP (Cayman) ("STEP")
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X| Joint Filer
--------------------------------------------------------------------------------
3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 703,845
--------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 703,845
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,845
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.08% (1)
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
(1) On the basis of 7,753,242 shares of common stock reported by the company
to be issued and outstanding as of March 25, 2008 in the Company's latest
Quarterly Report on Form 10-K, as filed with the Securities and Exchange
Commission on March 30, 2008.
|
CUSIP No.___________ 13G Page __ of___ Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Galloway Capital Management, LLC ("GCM")
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X| Joint Filer
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 703,845
--------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 703,845
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,845
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.08% (1)
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
(1) On the basis of 7,753,242 shares of common stock reported by the company
to be issued and outstanding as of March 25, 2008 in the Company's latest
Quarterly Report on Form 10-K, as filed with the Securities and Exchange
Commission on March 30, 2008.
|
CUSIP No.___________ 13G Page __ of___ Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Bruce Galloway ("Galloway")
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X| Joint Filer
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 747,382
--------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 703,845
--------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 747,382
--------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 703,845
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,451,227 (1)
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
18.72% (2)
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
(1) Reflects 747,382 shares of Common Stock held by Mr. Galloway's Individual
Retirement Account which Mr. Galloway had sole power to vote and dispose
and 703,845 shares of Common Stock held by STEP for which Mr. Galloway has
the shared power to vote and dispose. Mr. Galloway is a managing member of
Galloway Capital Management, LLC, the general partner of STEP. Mr.
Galloway disclaims beneficial ownership of the shares of Common Stock
directly beneficially owned by STEP (except for (i) indirect interests
therein by virtue of being a member of Galloway Capital Management LLC,
and (ii) the indirect interests of Mr. Galloway by virtue of being a
limited partner of STEP.
(2) On the basis of 7,753,242 shares of common stock reported by the company
to be issued and outstanding as of March 25, 2008 in the Company's latest
Quarterly Report on Form 10-K, as filed with the Securities and Exchange
Commission on March 30, 2008.
|
CUSIP No.___________ 13G Page __ of___ Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Gary Herman ("Herman")
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X| Joint Filer
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 703,845 (1)
--------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 703,845 (1)
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,845 (1)
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.08% (2)
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
(1) This includes 703,845 shares of Common Stock held by STEP.
Mr. Herman disclaims beneficial ownership of the shares of Common Stock
directly beneficially owned by STEP except for: (i) indirect interests
therein by virtue of being a member of Galloway Capital Management LLC,
and (ii) the indirect interests of Mr. Herman by virtue of being a limited
partner of STEP.
(2) On the basis of 7,753,242 shares of common stock reported by the company
to be issued and outstanding as of March 25, 2008 in the Company's latest
Quarterly Report on Form 10-K, as filed with the Securities and Exchange
Commission on March 30, 2008.
|
CUSIP No.________ 13G Page __ of __ Pages
Item 1(a). Name of Issuer:
Odimo Incorporated (the "Issuer")
--------------------------------------------------------------------
Item 1(b). Address of Issuer's Principal Executive Offices:
14051 NW 14th Street
Sunrise, FL 33323
--------------------------------------------------------------------
Item 2(a). Name of Persons Filing:
Strategic Turnaround Equity Partners, LP (Cayman), Galloway Capital
Management, LLC, Bruce Galloway and Gary Herman (Collectively, the "Reporting
Persons")
--------------------------------------------------------------------
Item 2(b). Address of Principal Business Office, or if None, Residence:
The principal business address for STEP is c/o Stuarts Corporate Services,
Ltd, P.O. Box 2510 GT, 4th floor, One Cayman Financial Centre, 36A Dr. Roy's
Drive, Georgetown, Grand Cayman, Cayman Island. STEP is managed by Galloway
Capital Management, LLC, with its principal business at 720 Fifth Avenue, 10th
floor, New York, New York 10019. Messrs. Galloway and Herman conduct their
business at 720 Fifth Avenue, 10th Floor, New York, NY 10019
--------------------------------------------------------------------
Item 2(c). Citizenship:
STEP is a limited partnership formed under the laws of the Cayman Islands.
GCM is a limited liability company incorporated in the state of Delaware.
Messrs. Galloway and Herman are citizens of the United States.
--------------------------------------------------------------------
Item 2(d). Title of Class of Securities:
This statement on Schedule 13G is being filed with respect to Common
Stock, $0.001 par value per share (the "Common Stock") of the Issuer.
--------------------------------------------------------------------
Item 2(e). CUSIP Number:
67606R107
--------------------------------------------------------------------
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a: Not Applicable.
(a) |_| Broker or dealer registered under Section 15 of the Exchange
Act.
(b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) |_| Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) |_| Investment company registered under Section 8 of the
Investment Company Act.
(e) |_| An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) |_| A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
|
CUSIP No.__________ 13G Page __ of __ 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: The information in items 1 and 5 through 11
on the cover page on this Schedule 13G is hereby incorporated by reference.
----------------------------------------------------------------------
(b) Percent of class: The information in items 1 and 5 through 11 on the
cover page on this Schedule 13G is hereby incorporated by reference.
----------------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote : The information in
items 1 and 5 through 11 on each cover page of this Schedule
13G is hereby incorporated by reference.
(ii) Shared power to vote or direct the vote: The information in
items 1 and 5 through 11 on each cover page of this Schedule
13G is hereby incorporated by reference.
(iii) Sole power to dispose or direct the disposition of : The
information in items 1 and 5 through 11 on each cover page of
this Schedule 13G is hereby incorporated by reference.
(iv) Shared power to dispose or direct the disposition of :The
information in items 1 and 5 through 11 on each cover page of
this Schedule 13G is hereby incorporated by reference.
The purpose of this Filing is to reflect the ownership by the Reporting Persons
in the shares of the Issuer.
Strategic Turnaround Equity Partners, L.P. (Cayman): 703,845
Bruce Galloway: 1,451,227(1)(3)
Gary Herman: 703,845(2)(3)
Galloway Capital Management, LLC: 703,845
(1) Includes 747,382 shares held by Mr. Galloway's Individual Retirement Account
for which Mr. Galloway has the sole power to vote and dispose. Also includes,
703,845 shares held by STEP for which Mr. Galloway has shared power to vote and
dispose.
(2) Includes 703,845 shares held by STEP for which Mr. Herman has shared power
to vote and dispose.
(3) Mr. Galloway and Mr. Herman are the managing members of Galloway Capital
Management, LLC, the general partner of STEP and share the power to vote and
dispose the shares. As a result, Mr. Galloway and Mr. Herman may be deemed to
indirectly beneficially own the shares held by STEP. Mr. Galloway and Mr. Herman
disclaim beneficial ownership of the shares directly beneficially owned by STEP,
except to the indirect interests by virtue of Mr. Galloway being, together with
Mr. Herman, managing members of Galloway Capital Management, LLC, the general
partner of STEP. Mr. Galloway owns approximately 20% of the partnership
interests in STEP as of March 31, 2008.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following |_|.
Not Applicable
-----------------------------------------------------------------------
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
As set forth in Item 4(c), some of the shares of Common Stock covered by
this Schedule 13G are owned by persons other than Galloway, none of whom, holds
five percent or more of the securities reported herein.
-----------------------------------------------------------------------
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
Not Applicable
-----------------------------------------------------------------------
Item 8. Identification and Classification of Members of the Group.
Not Applicable
-----------------------------------------------------------------------
Item 9. Notice of Dissolution of Group.
Not Applicable.
----------------------------------------------------------------------
Item 10. Certifications.
(a) The following certification shall be included if the statement is
filed pursuant to Rule 13d-1(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: May 5, 2008
Strategic Turnaround Equity Partners, LP (Cayman)
By: /s/ Gary Herman
---------------
Name: Gary Herman
Title: Managing Member of Galloway Capital
Management, LLC, the Investment Advisor of
Strategic Turnaround Equity Partners, LP
(Cayman)
|
Galloway Capital Management, LLC
By: /s/ Gary Herman
---------------
Name: Gary Herman
Title: Managing Member
By: /s/ Bruce Galloway
---------------------------
Bruce Galloway
By: /s/ Gary Herman
---------------------------
Gary Herman
|
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