-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Br8iLNBDX/0GSohCQSq32GIInYNAdYSmynoKqZg2qHyuY0wlVK3+eExXOJnSX+52 DByfdHmGM/FOxVJ2+Hhm2w== 0001144204-06-009070.txt : 20060308 0001144204-06-009070.hdr.sgml : 20060308 20060308121457 ACCESSION NUMBER: 0001144204-06-009070 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060308 DATE AS OF CHANGE: 20060308 GROUP MEMBERS: MARK ANGELO GROUP MEMBERS: YORKVILLE ADVISORS, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Homeland Security Capital CORP CENTRAL INDEX KEY: 0001006459 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 522050585 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-52573 FILM NUMBER: 06672216 BUSINESS ADDRESS: STREET 1: 146 MARYVILLE PIKE STREET 2: SUITE 201 CITY: KNOXVILLE STATE: TN ZIP: 37920 BUSINESS PHONE: 8655393561 MAIL ADDRESS: STREET 1: 146 MARYVILLE PIKE STREET 2: SUITE 201 CITY: KNOXVILLE STATE: TN ZIP: 37920 FORMER COMPANY: FORMER CONFORMED NAME: CELERITY SYSTEMS INC DATE OF NAME CHANGE: 19970811 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CORNELL CAPITAL PARTNERS LP CENTRAL INDEX KEY: 0001132874 IRS NUMBER: 134150836 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O MCGUIRE WOODS LLP STREET 2: 9 WEST 57TH STREET SUITE 1620 CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125482100 MAIL ADDRESS: STREET 1: 101 HUDSON STREET STREET 2: SUITE 3606 CITY: JERSEY CITY STATE: NJ ZIP: 07302 SC 13D 1 v037290.txt Page 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 - -------------------------------------------------------------------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 Homeland Security Capital Corp. ------------------------------- (Name of Issuer) Common Stock, par value $0.001 per share ---------------------------------------- (Title of Class of Securities) (CUSIP Number) Mark Angelo Cornell Capital Partners, LP 101 Hudson Street, Suite 3700 Jersey City, New Jersey 07302 (201) 985-8300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy To: Mark Angelo 101 Hudson Street, Suite 3700 Jersey City, New Jersey 07302 (201) 985-8300 March 8, 2006 ------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Page 2 SCHEDULE 13D - ----------------------- -------------------------------------------------------- 1 NAME OF REPORTING PERSONS Cornell Capital Partners LP - ----------------------- -------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| (b)|_| - ----------------------- -------------------------------------------------------- 3 SEC USE ONLY - ----------------------- -------------------------------------------------------- 4 SOURCE OF FUNDS OO - ----------------------- -------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ----------------------- -------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------- -------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH 370,698,873 REPORTING PERSON WITH ------- ------------------------------------------- 8 SHARED VOTING POWER ------- ------------------------------------------ 9 SOLE DISPOSITIVE POWER 370,698,873 ------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 370,698,873 - ----------------------- -------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ----------------------- -------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.44% - ----------------------- -------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ----------------------- -------------------------------------------------------- Page 3 - ----------------------- -------------------------------------------------------- 1 NAME OF REPORTING PERSONS Yorkville Advisors, LLC - ----------------------- -------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| (b)|_| - ----------------------- -------------------------------------------------------- 3 SEC USE ONLY - ----------------------- -------------------------------------------------------- 4 SOURCE OF FUNDS OO - ----------------------- -------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ----------------------- -------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------- -------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH 370,698,873 (as General Partner of REPORTING Cornell Capital Partners, LP) PERSON WITH ------- ------------------------------------------- 8 SHARED VOTING POWER -0- ------- ------------------------------------------ 9 SOLE DISPOSITIVE POWER 370,698,873 (as General Partner of Cornell Capital Partners, LP) ------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 370,698,873 (as General Partner of Cornell Capital Partners, LP) - ----------------------- -------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ----------------------- -------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.44% - ----------------------- -------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ----------------------- -------------------------------------------------------- Page 4 - ----------------------- -------------------------------------------------------- 1 NAME OF REPORTING PERSONS Mark Angelo - ----------------------- -------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| (b)|_| - ----------------------- -------------------------------------------------------- 3 SEC USE ONLY - ----------------------- -------------------------------------------------------- 4 SOURCE OF FUNDS OO - ----------------------- -------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ----------------------- -------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------- -------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH 370,698,873 (as Portfolio Manager of REPORTING Cornell Capital Partners, LP and President PERSON WITH of Yorkville Advisors, LLC) ------- ------------------------------------------ 8 SHARED VOTING POWER -0- ------- ------------------------------------------ 9 SOLE DISPOSITIVE POWER 370,698,873 (as Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville Advisors, LLC) ------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 370,698,873 (as Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville Advisors, LLC) - ----------------------- -------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - ----------------------- -------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.44% - ----------------------- -------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ----------------------- -------------------------------------------------------- Page 5 Item 1. Security and Issuer. This statement relates to shares of common stock, no par value per share (the "Shares"), of Homeland Security Capital Corp., a Delaware corporation (the "Issuer"). The principal executive office of the Issuer is located at4100 North Fairfax Drive, Suite 1150, Arlington, VA 22203-1664. Item 2. Identity and Background. (a)-(c), (f). This statement is being filed by Cornell Capital Partners, LP ("Cornell"), Yorkville Advisors, LLC ("Yorkville") and Mark Angelo ("Angelo") (Cornell, Yorkville and Angelo collectively, the "Reporting Persons"). Cornell, a Delaware limited partnership, whose business address is 101 Hudson Street, Suite 3700, Jersey City, New Jersey 07302, is a private equity fund. Yorkville, a Delaware LLC, whose business address is 101 Hudson Street, Suite 3700, Jersey City, New Jersey 07302 is the General Partner of Cornell. Angelo, whose business address is 101 Hudson Street, Suite 3700, Jersey City, New Jersey 07302 is the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville. Angelo is a citizen of the United States. (d) and (e). During the last five years, no Reporting Person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction in which the Reporting Person was or is the subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. 50,000,000 shares of common stock were acquired from the issuer as compensation pursuant to a private placement entered in to on February 6, 2006. 320,698,873 shares of common stock were acquired from the issuer through various private placement transactions. Item 4. Purpose of Transaction. Cornell acquired the Shares for investment and not with a view to, or for resale in connection with, any distribution thereof, and the Reporting Persons do not have a present intention of selling, granting any participation in, or otherwise distributing the acquired Shares. The Reporting Persons have no present plans or intentions which would result in or relate to any transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer. Page 6 (a)-(b) As of February 6, 2006 Cornell was the record and beneficial owner of 370,698,873 Shares representing 8.44% of the issued and outstanding Shares. Yorkville, as the General Partner of Cornell and Angelo as the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville, may be deemed to have a beneficial ownership in the aforementioned Shares may be deemed to have a beneficial ownership in the aforementioned Shares. Cornell has the sole power to vote and to dispose of all of its Shares. Yorkville, as the General Partner of Cornell, has the sole power to direct the vote and/or to direct the disposition of the Shares directly owned by Cornell. Angelo, as the Portfolio Manager of Cornell Capital Partners, LP and President of Yorkville, has the sole power to direct the vote and/or to direct the disposition of the Shares directly owned by Cornell. (c) Except as follows, none of the Reporting Persons has effected, within the last 60 days, any transactions involving the Shares. Not applicable. (d) Not applicable. (e) Not applicable. Item 6. Contract, Arrangements, Understandings or Relationships with respect to Securities of the Issuer. Cornell and the Issuer are parties to the following agreements, a Secured Convertible Debenture dated February 6, 2006, in the amount of $4,000,000 with a conversion price of (a) $.01 or (b) 90% of the lowest Volume Weighted Average Price of the common stock during the thirty (30) trading days immediately preceding the conversion date. Except as set forth herein, none of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Company, including, without limitation, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits and losses or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. Page 7 SIGNATURE After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each certifies that the information set forth in this statement is true, complete and correct. Dated: March 8, 2006 REPORTING PERSONS: ----------------- CORNELL CAPITAL PARTNERS, LP By: Yorkville Advisors, LLC Its: General Partner By: /s/ Mark Angelo --------------------------- Name: Mark Angelo Its: Portfolio Manager YORKVILLE ADVISORS, LLC By: /s/ Mark Angelo ------------------------------ Name: Mark Angelo Its: Portfolio Manager /s/ Mark Angelo --------------------------------- MARK ANGELO Page 8 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the common stock no par value per share, of U.S. Helicopter Corporation, a Delaware corporation, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of March 8, 2006. REPORTING PERSONS: CORNELL CAPITAL PARTNERS, LP By: Yorkville Advisors, LLC Its: General Partner By: /s/ Mark Angelo -------------------------------- Name: Mark Angelo Its: Portfolio Manager YORKVILLE ADVISORS, LLC By: /s/ Mark Angelo -------------------------------- Name: Mark Angelo Its: Portfolio Manager /s/ Mark Angelo ----------------------------------- MARK ANGELO -----END PRIVACY-ENHANCED MESSAGE-----