-----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, SdYhy8/C4rktqq+SCPpn5xfXWtQ4o8JYDckplKSVMZbvDNIDzsz8fhzoS4YrIvNa m92JGCurpWcTPzrQaeECxQ== 0000909143-98-000055.txt : 19980415 0000909143-98-000055.hdr.sgml : 19980415 ACCESSION NUMBER: 0000909143-98-000055 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980414 SROS: NASD GROUP MEMBERS: GLACIER CAPITAL LIMITED GROUP MEMBERS: HUNT FINANCIAL PARTNERS, L.P. GROUP MEMBERS: INFINITY EMERGING OPPORTUNITIES LIMITED GROUP MEMBERS: INFINITY INVESTORS LIMITED GROUP MEMBERS: INFINITY INVESTORS LTD GROUP MEMBERS: JOHN A. (PETE) BRICKER, JR. GROUP MEMBERS: LION CAPITAL PARTNERS, L.P. GROUP MEMBERS: MOUNTAIN CAPITAL MANAGEMENT, L.L.C. GROUP MEMBERS: SANDERA CAPITAL MANAGEMENT, L.P. GROUP MEMBERS: SANDERA CAPITAL, L.L.C. GROUP MEMBERS: SANDERA PARTNERS, L.P. GROUP MEMBERS: SUMMIT CAPITAL LIMITED SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VISUAL EDGE SYSTEMS INC CENTRAL INDEX KEY: 0001015172 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEMBERSHIP SPORTS & RECREATION CLUBS [7997] IRS NUMBER: 133778895 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-49607 FILM NUMBER: 98593337 BUSINESS ADDRESS: STREET 1: 2424 NORTH FEDERAL HIGHWAY STREET 2: SUITE 100 CITY: BOCA RATON STATE: FL ZIP: 33431 BUSINESS PHONE: 5617507559 MAIL ADDRESS: STREET 1: 2424 NORTH FEDERAL HIGHWAY STREET 2: SUITE 100 CITY: BOCA RATON STATE: FL ZIP: 33431 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INFINITY INVESTORS LTD CENTRAL INDEX KEY: 0000930022 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: MEMORIAL SQUARE STREET 2: P O BOX 556 CHARLESTON CITY: NEVIS WEST INDIES MAIL ADDRESS: STREET 1: 27 WELLINGTON ST CITY: CORK IRELAND SC 13G 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _______)* VISUAL EDGE SYSTEMS, INC. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 928430 10 7 (CUSIP Number) April 4, 1998 (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 on 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, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section of the Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes). CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Infinity Investors Limited I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ ] Member of a Group* (b) [ x ] - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Nevis, West Indies - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 432,011 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 432,011 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person 432,011 - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 5.4% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* CO - ----------------------------------------------------------------- * SEE INSTRUCTIONS CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Infinity Emerging Opportunities Limited I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ ] Member of a Group* (b) [ x ] - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Nevis, West Indies - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 95,473 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 95,473 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 95,473 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.2% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* CO - ----------------------------------------------------------------- * SEE INSTRUCTIONS CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Glacier Capital Limited I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ] <1> Member of a Group* (b) [ x ] <2> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Nevis, West Indies - ----------------------------------------------------------------- Number of shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,903 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,903 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,903 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* CO - ----------------------------------------------------------------- * SEE INSTRUCTIONS - --------------------- <1> Glacier Capital Limited expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Glacier Group (as herein defined). <2> Glacier Capital Limited disclaims membership in a group consisting of members other than those in the Glacier Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Lion Capital Partners, L.P. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ] <3> Member of a Group* (b) [ x ] <4> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,903 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,903 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,903 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* PN - ----------------------------------------------------------------- * SEE INSTRUCTIONS - --------------------- <3> Lion Capital Partners, L.P. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Glacier Group (as herein defined). <4> Lion Capital Partners, L.P. disclaims membership in a group consisting of members other than those in the Glacier Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Mountain Capital Management, L.L.C. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ] <5> Member of a Group* (b) [ x ] <6> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,903 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,903 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,903 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* OO - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <5> Mountain Capital Management, L.L.C. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Glacier Group (as herein defined). <6> Mountain Capital Management, L.L.C. disclaims membership in a group consisting of members other than those in the Glacier Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Summit Capital Limited I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ] <7> Member of a Group* (b) [ x ] <8> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* PN - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <7> Summit Capital Limited expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <8> Summit Capital Limited disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Sandera Partners, L.P. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ] <9> Member of a Group* (b) [ x ]<10> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* OO - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <9> Sandera Partners, L.P. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <10> Sandera Partners, L.P. disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Sandera Capital Management, L.P. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ]<11> Member of a Group* (b) [ x ]<12> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* PN - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <11> Sandera Capital Management, L.P. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <12> Sandera Capital Management, L.P. disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Sandera Capital, L.L.C. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ]<13> Member of a Group* (b) [ x ]<14> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* OO - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <13> Sandera Capital, L.L.C. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <14> Sandera Capital, L.L.C. disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person John A. (Pete) Bricker, Jr. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ]<15> Member of a Group* (b) [ x ]<16> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization U.S. citizenship - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* IN - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <15> John A. (Pete) Bricker, Jr. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <16> John A. (Pete) Bricker, Jr. disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G (1) Name of Reporting Person Hunt Financial Partners, L.P. I.R.S. Identification No. of Above Person N/A - ----------------------------------------------------------------- (2) Check the Appropriate Box if a (a) [ x ]<17> Member of a Group* (b) [ x ]<18> - ----------------------------------------------------------------- (3) SEC Use Only - ----------------------------------------------------------------- (4) Citizenship or Place of Organization Texas - ----------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: (5) Sole Voting Power 100,904 - ----------------------------------------------------------------- (6) Shared Voting Power 0 - ----------------------------------------------------------------- (7) Sole Dispositive Power 100,904 - ----------------------------------------------------------------- (8) Shared Dispositive Power 0 - ----------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned 100,904 by Each Reporting Person - ----------------------------------------------------------------- (10) Check Box if the Aggregate Amount in [ x ] Row (9) Excludes Certain Shares* - ----------------------------------------------------------------- (11) Percent of Class Represented by 1.3% Amount in Row (9) - ----------------------------------------------------------------- (12) Type of Reporting Person* PN - ----------------------------------------------------------------- * SEE INSTRUCTIONS - -------------------- <17> Hunt Financial Partners, L.P. expressly affirms the existence of a "group" (as such term is used in Rule 13d-5 promulgated under the Security Exchange Act among the other members of the Summit Group (as herein defined). <18> Hunt Financial Partners, L.P. disclaims membership in a group consisting of members other than those in the Summit Group and has included information concerning such shares for informational purposes only. CUSIP NO.928430 10 7 13G Item 1(a) Name of Issuer: Visual Edge Systems, Inc. (the "Issuer") Item 1(b) Address of Issuer's Principal Executive Offices: 2424 North Federal Highway, Suite 100 Boca Raton, Florida 33431 Item 2(a) Name of Person Filing: Pursuant to Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this Statement on Schedule 13G is filed jointly by Infinity Investors Limited ("Infinity"), Infinity Emerging Opportunities Limited ("Emerging"), Glacier Capital Limited ("Glacier"), Lion Capital Partners, L.P. ("Lion"), Mountain Capital Management, L.L.C. ("Mountain"), (Glacier, Lion and Mountain, collectively, the "Glacier Group"), Summit Capital Limited ("Summit"), Sandera Partners, L.P. ("Sandera"), Sandera Capital Management, L.P. ("SCM"), Sandera Capital, L.L.C. ("Capital"), John A. (Pete) Bricker, Jr. ("Bricker")and Hunt Financial Partners, L.P. ("Hunt Financial") (Summit, Sandera, SCM, Capital, Bricker and Hunt Financial collectively, the "Summit Group"). Infinity, Emerging, the Glacier Group and the Summit Group are collectively referred to herein as the "Reporting Persons." The Reporting Persons have included as Appendix A to this Statement an agreement in writing that this Statement is filed on behalf of each of them. Item 2(b) Address of Principal Business Office or, if none, Residence: The address of the Principal Business Office of Infinity, Emerging, Glacier and Summit is: 38 Hertford Street, London, England W1Y 7TG. The address of the Principal Business Office of Lion, Mountain and the remaining members of the Summit Group is: 1601 Elm Street, Suite 4000, Dallas, Texas 75201. CUSIP NO.928430 10 7 13G Item 2(c) Citizenship: Infinity, Emerging, Glacier, and Summit are Nevis, West Indies Corporations. Lion is a Texas limited partnership. Mountain is a Texas limited liability company. Sandera is a Texas limited partnership. SCM is a Texas limited partnership. Capital is a Texas limited liability company. Mr. Bricker is a U.S. citizen, resident of the State of Texas. Hunt Financial is a Texas limited partnership. Item 2(d) Title of Class of Securities: Common Stock, $0.01 par value per share (the "Common Stock") of the Issuer. Item 2(e) CUSIP Number: 928430 10 7 Item 3. This statement is filed pursuant to Rule 13d-1(c). Item 4. Ownership: Infinity - -------- (a) Amount Beneficially Owned: 432,011. (b) Percent of Class: 5.4% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote: 432,011 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 432,011 (iv) shared power to dispose or to direct the disposition of: 0 432,011 shares of Common Stock reported hereby are held directly by Infinity. Emerging - -------- (a) Amount Beneficially Owned: 95,473. CUSIP NO.928430 10 7 13G (b) Percent of Class: 1.2% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote: 95,473 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 95,473 (iv) shared power to dispose or to direct the disposition of: 0 95,473 shares of Common Stock reported hereby are held directly by Emerging. Glacier Group - ------------- (a) Amount Beneficially Owned: 100,903. (b) Percent of Class: 1.3% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote: 100,903 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 100,903 (iv) shared power to dispose or to direct the disposition of: 0 100,903 shares of Common Stock reported hereby are held directly by Glacier Group (the "Glacier Securities"). Glacier has advised that it is 100% owned by its sole shareholder, Lion, and that Lion is managed by its sole general partner, Mountain Capital Management, L.L.C. Accordingly, each of Lion and Mountain may be deemed to indirectly beneficially own the Glacier Securities and, together with Glacier constitute a "group" under the provisions of Rule 13d-5(b)(1) under the Exchange Act. Further, each member of the Glacier Group may be deemed to share in the power to vote (or to direct the vote) and dispose of (or to direct the disposition of) the Glacier Securities. CUSIP NO.928430 10 7 13G Mountain has advised that its Board of Managers consists of Clark K. Hunt, Barrett N. Wissman, and Randall Fojtasek. Summit Group - ------------ (a) Amount Beneficially Owned: 100,904. (b) Percent of Class: 1.3% (c) Number of Shares as to which such person has: (i) sole power to vote or to direct the vote: 100,904 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 100,904 (iv) shared power to dispose or to direct the disposition of: 0 100,904 shares of Common Stock reported hereby are held directly by Summit Group (the "Summit Securities"). Summit has advised that it is 100% owned by its sole shareholder, Sandera, and that Sandera is managed by its sole general partner, SCM, and that SCM is managed by its sole general partner, Capital, 75% of the equity interests of which are held by Hunt Financial. The remaining 25% of the equity interest in Capital are held by Bricker. Accordingly, each of SCM, Capital, Bricker and Hunt Financial may be deemed to directly beneficially own the Summit Securities and, together with Summit, constitute a "group" under the provisions of Rule 13d-5(b)(1) under the Exchange Act. Further, each member of the Summit Group may be deemed to share in the power to vote (or direct the vote) and dispose or (or direct the disposition of) the Summit Securities. Hunt Financial has advised that its general partner is Hunt Financial Group, L.L.C., a Delaware limited liability company, whose Board of Managers consists of J. R. Holland, Jr., Clark K. Hunt and Lamar Hunt, each individual residents of the State of Texas. Capital has advised that its Board of Managers consists of Clark K. Hunt, John A. (Pete) Bricker, Jr. and Mark E. Schwarz, each individual residents of the State of Texas. CUSIP NO.928430 10 7 13G Item 5. Ownership of 5% or less of a Class: Not Applicable. Item 6. Ownership of More than 5% on Behalf of Another Person: Not Applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not Applicable. Item 8. Identification and Classification of Members of the Group: Not Applicable. Item 9. Notice of Dissolution of Group: Not Applicable. CUSIP NO.928430 10 7 13G Item 10. Certifications: By signing below, the undersigned certifies that, to the best of their knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the Issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. Date: April 14, 1998 Infinity Investors Limited By: /s/ JAMES A. LOUGHRAN --------------------------------- Name: James A. Loughran Title: Director Infinity Emerging Opportunities Limited By: /s/ JAMES A. LOUGHRAN --------------------------------- Name: James A. Loughran Title: Director CUSIP NO.928430 10 7 13G Glacier Capital Limited By: /s/ JAMES A. LOUGHRAN --------------------------------- Name: James A. Loughran Title: Director Lion Capital Partners, L.P. By: Mountain Capital Management, L.L.C. Its general partner By: /s/ CLARK K. HUNT --------------------------------- Name: Clark K. Hunt Title: President Mountain Capital Management, L.L.C. By: /s/ CLARK K. HUNT --------------------------------- Name: Clark K. Hunt Title: President Summit Capital Limited By: /s/ JAMES A. LOUGHRAN --------------------------------- Name: James A. Loughran Title: Director CUSIP NO.928430 10 7 13G Sandera Partners, L.P. By: Sandera Capital Management L.P. Its general partner By: Sandera Capital, L.L.C., Its general partner By: /s/ JOHN A. (PETE) BRICKER, JR. ----------------------------------- Name: John A. (Pete) Bricker, Jr. Title: President Sandera Capital Management, L.P. By: Sandera Capital, L.L.C., Its general partner By: /s/ JOHN A. (PETE) BRICKER, JR. --------------------------------- Name: John A. (Pete) Bricker, Jr. Title: President /s/ JOHN A. (PETE) BRICKER, JR. ------------------------------------ John A. (Pete) Bricker Sandera Capital, L.L.C. By: /s/ JOHN A. (PETE) BRICKER, JR. --------------------------------- Name: John A. (Pete) Bricker, Jr. Title: President CUSIP NO.928430 10 7 13G Hunt Financial Partners, L.P. By: Hunt Financial Group, L.L.C. Its General Partner By: /s/ CLARK K. HUNT -------------------------------- Name: Clark K. Hunt Title: President Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001) Appendix A ---------- JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of Visual Edge Systems Inc.. This Joint Filing Agreement shall be included as an exhibit to such filing. In evidence thereof, each of the undersigned, being duly authorized where appropriate, hereby executes this Joint Filing Agreement as of the 13th day of April, 1998. INFINITY INVESTORS LIMITED By: /s/ JAMES A. LOUGHRAN ------------------------------------- Name: James A. Loughran Title: Director INFINITY EMERGING OPPORTUNITIES LIMITED By: /s/ JAMES A. LOUGHRAN ------------------------------------- Name: James A. Loughran Title: Director GLACIER CAPITAL LIMITED By: /s/ JAMES A. LOUGHRAN ------------------------------------- Name: James A. Loughran Title: Director LION CAPITAL PARTNERS, L.P. By: Mountain Capital Management, L.L.C., its General Partner By: /s/ CLARK K. HUNT -------------------------------- Name: Clark K. Hunt Title: President MOUNTAIN CAPITAL MANAGEMENT, L.L.C. By: /s/ CLARK K. HUNT -------------------------------- Name: Clark K. Hunt Title: President SUMMIT CAPITAL LIMITED By: /s/ JAMES A. LOUGHRAN ------------------------------------- Name: James A. Loughran Title: Director SANDERA PARTNERS, L.P. By: Sandera Capital Management, L.P., its General Partner By: Sandera Capital, L.L.C., its General Partner By: /s/ JOHN A. (PETE) BRICKER, JR. ------------------------------------- Name: John A. (Pete) Bricker, Jr. Title: President SANDERA CAPITAL MANAGEMENT, L.P. By: Sandera Capital, L.L.C., its General Partner By: /s/ JOHN A. (PETE) BRICKER, JR. ------------------------------------ Name: John A. (Pete) Bricker, Jr. Title: President SANDERA CAPITAL, L.L.C. By: /s/ JOHN A. (PETE) BRICKER, JR. ---------------------------------- Name: John A. (Pete) Bricker, Jr. Title: President /s/ JOHN A. (PETE) BRICKER, JR. -------------------------------------- John A. (Pete) Bricker, Jr. HUNT FINANCIAL PARTNERS, L.P. By: Hunt Financial Group, L.L.C., its General Partner By: /s/ CLARK K. HUNT ------------------------------- Name: Clark K. Hunt Title: President -----END PRIVACY-ENHANCED MESSAGE-----