-----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, SiT67X7UFKE1MOCqUFfAzZiInGQVbcRSwjkZX6iNhb5Rbz4nWSGHaKaAyJU/VZCO RQMYMK8vZSXgPYrkQpbZlg== 0001169232-06-000853.txt : 20060215 0001169232-06-000853.hdr.sgml : 20060215 20060214173529 ACCESSION NUMBER: 0001169232-06-000853 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060215 DATE AS OF CHANGE: 20060214 GROUP MEMBERS: RENAISSANCE US GROWTH INVESTMENT TRUST PLC ("R US") GROUP MEMBERS: RENN CAPITAL GROUP, INC. GROUP MEMBERS: RUSSELL CLEVELAND SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRECIS INC CENTRAL INDEX KEY: 0001017440 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 731494382 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-61379 FILM NUMBER: 06617793 BUSINESS ADDRESS: STREET 1: 2040 NORTH HIGHWAY 360 CITY: GRAND PRAIRIE STATE: TX ZIP: 75050 BUSINESS PHONE: 9725222008 MAIL ADDRESS: STREET 1: 2040 NORTH HIGHWAY 360 CITY: GRAND PRAIRIE STATE: TX ZIP: 75050 FORMER COMPANY: FORMER CONFORMED NAME: PRECIS SMART CARD SYSTEMS INC DATE OF NAME CHANGE: 19990827 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BFS US SPECIAL OPPORTUNITIES TRUST PLC CENTRAL INDEX KEY: 0001159050 IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 8080 N CENTRAL EXPRESSWAY STREET 2: STE 210 LB 59 CITY: DALLAS STATE: TX ZIP: 75206 BUSINESS PHONE: 2148918294 MAIL ADDRESS: STREET 1: 8080 N CENTRAL EXPRESSWAY STREET 2: STE 210 LB 59 CITY: DALLAS STATE: TX ZIP: 75206 SC 13G 1 d66916_sc13g.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Precis, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 740184106 (CUSIP Number) December 31, 2005 (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. 740184106 Page 1 of 8 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) BFS US SPECIAL OPPORTUNITIES TRUST PLC ("BFS") - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED KINGDOM - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 801,813 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 801,813 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 801,813 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.1% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 740184106 Page 2 of 8 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) RENAISSANCE US GROWTH INVESTMENT TRUST PLC ("R US") - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED KINGDOM - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 800,000 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 800,000 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 800,000 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.1% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 740184106 Page 3 of 8 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) RENN CAPITAL GROUP, INC. - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 1,601,813 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 1,601,813 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,601,813 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.2% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 740184106 Page 4 of 8 - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) RUSSELL CLEVELAND - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 1,601,813 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 1,601,813 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,601,813 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.2% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 740184106 Page 5 of 8 Item 1(a) Name of Issuer: Precis, Inc. Item 1(b) Address of Issuer's Principal Executive Offices: 2040 N. Highway 360, Grand Prairie, TX 75050 Item 2(a) Names of Persons Filing: BFS US SPECIAL OPPORTUNITIES TRUST PLC RENAISSANCE US GROWTH INVESTMENT TRUST PLC RENN CAPITAL GROUP, INC. RUSSELL CLEVELAND Item 2(b) Address of Principal Business Office: 8080 N. CENTRAL EXPRESSWAY, SUITE 210, LB-59, DALLAS, TX 75206 Item 2(c) Citizenship: See Item 4 of each cover page. Item 2(d) Title of Class of Securities: Common Stock Item 2(e) CUSIP No: 740184106 CUSIP No. 740184106 Page 6 of 8 Item 3 Status of Persons Filing: (a) |_| Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) |_| Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) |_| Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) |_| An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Item 4 Ownership: (a) This statement is filed on behalf of BFS US Special Opportunities Trust PLC ("BFS"), Renaissance US Growth Investment Trust PLC ("R US"), RENN Capital Group, Inc. ("RENN") and Russell Cleveland. RENN is the investment adviser to RENN and R US. Mr. Cleveland is the President and Chief Executive Officer of RENN. As of February 14, 2006, BFS was the owner of record and beneficial owner of 801,813 shares of the common stock of Precis, Inc. ("Common Stock") and R US was the owner of record and beneficial owner of 800,000 shares of Common Stock. Each of BFS and R US share voting and dispositive power over their respective shares with RENN. Mr. Cleveland may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by RENN. (b) Percent of Class: See Item 11 of each cover page. (c) Number of shares as to which each person has: (i) sole power to vote or to direct the vote: See Item 5 of each cover page. CUSIP No. 740184106 Page 7 of 8 (ii) shared power to vote or to direct the vote: See Item 6 of each cover page. (iii) sole power to dispose or to direct the disposition of: See Item 7 of each cover page. (iv) shared power to dispose or to direct the disposition of: See Item 8 of each cover page. Item 5 Ownership of 5% or Less of a Class: Not applicable. Item 6 Ownership of More than 5% on Behalf of Another Person: Mr. Cleveland is President and Chief Executive Officer of RENN which is investment adviser to BFS and investment manager to R US. Each of the BFS and R US, individually, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities. Each of BFS and R US, individually, also share such rights and powers with RENN. 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: See Exhibit 1 Item 9 Notice of Dissolution of Group: Not applicable. Item 10 Certification: 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. CUSIP No. 740184106 Page 8 of 8 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. Date: February 14, 2006 BFS US SPECIAL OPPORTUNITIES TRUST PLC /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser Date: February 14, 2006 RENAISSANCE US GROWTH INVESTMENT TRUST PLC /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser Date: February 14, 2006 RENN CAPITAL GROUP, INC. /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser Date: February 14, 2006 /s/ Russell Cleveland -------------------------------------------- Russell Cleveland EXHIBIT Exhibit 1 Group Members Listing Exhibit 2 Joint Filing Agreement, dated February 14, 2006. EXHIBIT 1 GROUP MEMBERS (1) RENN CAPITAL GROUP, INC. Investment Adviser to BFS US Special Opportunities Trust PLC Investment Manager to Renaissance US Growth Investment Trust PLC (2) BFS US SPECIAL OPPORTUNITIES TRUST PLC UK Closed End Fund (3) RENAISSANCE US GROWTH INVESTMENT TRUST PLC UK Closed End Fund (4) RUSSELL CLEVELAND President and Chief Executive Officer of RENN Capital Group, Inc. EXHIBIT 2 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them a Statement on Schedule 13G (including amendments thereto) with regard to the common stock of Precis, Inc. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. In evidence thereof, the undersigned, being duly authorized, hereby execute this Joint Filing Agreement as of February 14, 2006. BFS US SPECIAL OPPORTUNITIES TRUST PLC /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser RENAISSANCE US GROWTH INVESTMENT TRUST PLC /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser RENN CAPITAL GROUP, INC. /s/ Russell Cleveland Name: Russell Cleveland Title: President, RENN Capital Group, Inc., Investment Adviser /s/ Russell Cleveland -------------------------------------------- Russell Cleveland -----END PRIVACY-ENHANCED MESSAGE-----