-----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, Vhe+AZE5TQJcOLHaXQBdgvc60reM4I+wMxwr6urehwkHwbwbGtPyLd1e3AyGrSqG FGP47bZjZCM9Qtle37koRg== 0001144204-05-039152.txt : 20051208 0001144204-05-039152.hdr.sgml : 20051208 20051208142624 ACCESSION NUMBER: 0001144204-05-039152 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20051208 DATE AS OF CHANGE: 20051208 GROUP MEMBERS: BRUCE GALLOWAY GROUP MEMBERS: GALLOWAY CAPITAL MANAGEMENT LLC GROUP MEMBERS: GARY L. HERMAN GROUP MEMBERS: ROBERT ELLIN GROUP MEMBERS: STRATEGIC TURNAROUND EQUITY PARTNERS, L.P. GROUP MEMBERS: TRINAD MANAGEMENT, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RADIOLOGIX INC CENTRAL INDEX KEY: 0001031329 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090] IRS NUMBER: 752648089 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-55929 FILM NUMBER: 051251871 BUSINESS ADDRESS: STREET 1: 3600 CHASE TOWER STREET 2: 2200 ROSS AVENUE CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 2143032776 MAIL ADDRESS: STREET 1: 901 MAIN ST STREET 2: SUITE 2301 CITY: DALLAS STATE: TX ZIP: 75202 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN PHYSICIAN PARTNERS INC DATE OF NAME CHANGE: 19970523 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Trinad Capital Master Fund Ltd. CENTRAL INDEX KEY: 0001346370 IRS NUMBER: 980447604 STATE OF INCORPORATION: E9 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 2121 AVENUE OF THE STARS, SUITE 1650 CITY: LOS ANGELES STATE: CA ZIP: 90049 BUSINESS PHONE: 310-601-2500 MAIL ADDRESS: STREET 1: 2121 AVENUE OF THE STARS, SUITE 1650 CITY: LOS ANGELES STATE: CA ZIP: 90049 SC 13D 1 v031009_sc13d.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. ______) (1) Radiologix, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 75040K109 - -------------------------------------------------------------------------------- (CUSIP Number) Jay Wolf Bruce Galloway c/o Trinad Capital Master Fund Ltd c/o Strategic Turnaround Equity 2121 Avenue of the Stars, suite 1650 Partners, L.P. Los Angeles, California 90049 720 Fifth Avenue, 9th Floor (310) 601-2500 New York, New York 10019 (212) 247-1339 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 29, 2005 - -------------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(c), 13d-1(f) or 13d-1(g), check the following box. |_| Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. - ---------- (1) 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 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). (Continued on following pages) - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Trinad Capital Master Fund Ltd 980447604 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 968,800 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 968,800 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 968,800 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.31% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- (1) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Trinad Management, LLC 20-0591302 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 968,800 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 968,800 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 968,800 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.31%(1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- (1) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Robert Ellin N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 968,800 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 968,800 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 968,800 (1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 4.31%(1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (1) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Strategic Turnaround Equity Partners, L.P. 90-0000833 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 129,100 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 129,100 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 129,100 (1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.58% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (1) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Galloway Capital Management LLC 90-0000838 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 129,100 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 0 ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 129,100 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 129,100 (1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.58% (1) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- (1) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Gary L. Herman N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 6,900(1) ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 129,100 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 6,900(1) ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 129,100 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 136,000 (1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.61% (2) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (1) This includes 5,500 shares of common stock held by Mr. Herman individually and 1,400 shares of common stock held by Gary Herman, IRA. (2) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 75040K109 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Bruce Galloway N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS * PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2 (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 248,200(1) ------------------------------------------------------- BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 129,100 ------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 248,200 (1) ------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 129,100 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 377,300 (1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 1.68% (2) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (1) This includes 38,900 shares of common stock held by Mr. Galloway individually, 99,400 shares of common stock owned by Mr. Galloway in conjunction with his wife, Sara Herbert, 2,800 shares of common stock held by Bruce Galloway, Rollover IRA, 24,300 shares of common stock held by Sara Galloway, IRA, 18,000 shares of common stock held by Rexon Galloway Capital Growth LLC ("Rexon") and 64,800 shares of common stock held by Jacombs Investments Inc. ("Jacombs"). Mr. Galloway disclaims any beneficial ownership of the 82,800 shares of common stock for Rexon and Jacombs except to the extent of his indirect beneficial ownership as a holder of voting power and his ability to cause Rexon and Jacombs to dispose of such shares of common stock. (2) On the basis of 22,442,417 shares of Common Stock reported by the Company to be issued and outstanding as of October 28, 2005 in the Company's latest Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. *SEE INSTRUCTIONS BEFORE FILLING OUT! Item 1. Security and Issuer. The class of equity securities to which this statement relates is the common stock, no par value, (the "Common Stock") of Radiologix, Inc., a Delaware corporation, (the "Company"). The principal executive offices of the Company are located at 3600 JP Morgan Chase Tower, 2200 Ross Avenue, Dallas, Texas 75201-2776. Item 2. Identity and Background. This statement is being filed jointly by Trinad Capital Master Fund Ltd, Trinad Management, LLC, Robert Ellin, Strategic Turnaround Equity Partners, L.P., Galloway Capital Management LLC, Gary L. Herman and Bruce Galloway (collectively, the "Reporting Persons"). Trinad Capital Master Fund Ltd, is a Cayman Islands Corporation and is a hedge fund dedicated to investing micro-cap companies. Trinad Management, LLC is a Delaware limited liability company principally engaged in serving as the general partner of Trinad Capital Master Fund Ltd. Robert Ellin is a citizen of the United States and (i) a managing member of Trinad Management, LLC, (ii) the holder of 66% of the membership interests in Trinad Management, LLC, and (iii) the holder of approximately 9% of the partnership interests in Trinad Capital Master Fund Ltd. Strategic Turnaround Equity Partners, L.P., is a Delaware limited liability partnership and is a fund focused on investing primarily in undervalued public equities. Galloway Capital Management LLC is a Delaware limited liability company principally engaged in serving as the general partner of Strategic Turnaround Equity Partners, L.P. Gary L. Herman and Bruce Galloway are citizens of the United States and (i) managing members of Galloway Capital Management LLC, (ii) Mr. Galloway is a holder of the majority of the membership interests in Galloway Capital Management LLC, and (iii) Mr. Galloway is a holder of the majority of the partnership interests in Strategic Turnaround Equity Partners, L.P. The name and positions of the executive officers and directors of each of the Reporting Persons are set forth below. Other than as listed in Item 5 of this Report, each executive officer and director listed below disclaims beneficial ownership of the shares of Common Stock beneficially owned by the Reporting Persons. Trinad Capital Master Fund Ltd Cayman Islands Corporation General Partner - Trinad Management, LLC Trinad Management, LLC Delaware limited liability company Managing Member - Robert Ellin Managing Director - Jay Wolf Robert Ellin Citizenship - United States Managing Member, Trinad Capital Master Fund Ltd Managing Member, Trinad Management, LLC Strategic Turnaround Equity Partners, L.P. Delaware limited partnership General Partner - Galloway Capital Management LLC Galloway Capital Management LLC Delaware limited liability company Managing Member - Gary L. Herman Managing Member - Bruce Galloway Gary L. Herman Citizenship - United States Managing Member - Galloway Capital Management LLC Managing Member - Strategic Turnaround Equity Partners, L.P. Bruce Galloway Citizenship - United States Managing Member - Galloway Capital Management LLC Managing Member - Strategic Turnaround Equity Partners, L.P.
The address of the principal business office of Trinad Capital Master Fund Ltd, Trinad Management, LLC, and Robert Ellin is c/o Trinad Capital Master Fund Ltd, 2121 Avenue of the Stars, Suite 1650, Los Angeles, California 90049. The address of the principal business office of Strategic Turnaround Equity Partners, L.P., Galloway Capital Management LLC, Gary L. Herman and Bruce Galloway is c/o Strategic Turnaround Equity Partners, L.P., 720 Fifth Avenue, 9th Floor, New York, New York 10019. During the last five years, neither the Reporting Persons nor any executive officer or director of the Reporting Persons have (i) been convicted in any criminal proceeding or (ii) been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was subject to any judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The shares of Common Stock owned directly and indirectly by the Reporting Persons were purchased with working capital of Trinad Capital Master Fund Ltd and Strategic Turnaround Equity Partners, L.P. Item 4. Purpose of Transaction. All of the shares of Common Stock reported herein were acquired for investment purposes. On each of the following dates and at the following prices per share, Trinad Capital Master Fund Ltd made purchases of Common Stock on the open market with its working capital: - -------------------------------------------------------------------------------- Date Number of Shares Acquired Price Per Share - -------------------------------------------------------------------------------- 10/03/05 13,700 3.8119 - -------------------------------------------------------------------------------- 10/04/05 13,200 3.8063 - -------------------------------------------------------------------------------- 10/10/05 2,000 3.6800 - -------------------------------------------------------------------------------- 10/11/05 3,600 3.7422 - -------------------------------------------------------------------------------- 10/13/05 900 3.6256 - -------------------------------------------------------------------------------- 10/14/05 3,700 3.6200 - -------------------------------------------------------------------------------- 10/19/05 1,000 3.4000 - -------------------------------------------------------------------------------- 10/25/05 2,000 3.6300 - -------------------------------------------------------------------------------- 10/27/05 1,000 3.6900 - -------------------------------------------------------------------------------- 10/31/05 3,000 3.7667 - -------------------------------------------------------------------------------- 11/08/05 3,000 3.6633 - -------------------------------------------------------------------------------- 11/09/05 3,000 3.3267 - -------------------------------------------------------------------------------- 11/11/05 19,300 3.2861 - -------------------------------------------------------------------------------- 11/18/05 9,200 3.1343 - -------------------------------------------------------------------------------- 11/21/05 10,700 3.1174 - -------------------------------------------------------------------------------- 11/22/05 50,000 3.1450 - -------------------------------------------------------------------------------- 11/23/05 5,200 3.0262 - -------------------------------------------------------------------------------- 11/28/05 25,000 3.0406 - -------------------------------------------------------------------------------- 11/28/05 10,000 2.9312 - -------------------------------------------------------------------------------- 11/28/05 6,000 2.9633 - -------------------------------------------------------------------------------- 11/30/05 8,200 3.0349 - -------------------------------------------------------------------------------- 12/01/05 15,000 3.0875 - -------------------------------------------------------------------------------- 12/01/05 1,000 3.1500 - -------------------------------------------------------------------------------- On each of the following dates and at the following prices per share, Strategic Turnaround Equity Partners, L.P. made purchases of Common Stock on the open market with its working capital: - -------------------------------------------------------------------------------- Date Number of Shares Acquired Price Per Share - -------------------------------------------------------------------------------- 11/25/05 11,300 3.0500 - -------------------------------------------------------------------------------- 11/25/05 117,800 3.0500 - -------------------------------------------------------------------------------- On each of the following dates and at the following prices per share, Bruce Galloway or his affiliates made purchases of Common Stock on the open market with his personal funds: - -------------------------------------------------------------------------------- Date Number of Shares Acquired Price Per Share - -------------------------------------------------------------------------------- 10/05/05 100 3.7500 - -------------------------------------------------------------------------------- 10/28/05 10,000 3.7173 - -------------------------------------------------------------------------------- 11/03/05 8,000 3.6924 - -------------------------------------------------------------------------------- 11/04/05 15,800 0.0000 - -------------------------------------------------------------------------------- 11/21/05 5,100 3.0714 - -------------------------------------------------------------------------------- 11/22/05 24,300 3.0119 - -------------------------------------------------------------------------------- 11/25/05 99,400 3.0500 - -------------------------------------------------------------------------------- 11/25/05 2,700 3.0500 - -------------------------------------------------------------------------------- 11/25/05 18,000 3.0500 - -------------------------------------------------------------------------------- 11/25/05 64,800 3.0500 - -------------------------------------------------------------------------------- On each of the following dates and at the following prices per share, Gary L. Herman or his affiliates made purchases of Common Stock on the open market with his personal funds: - -------------------------------------------------------------------------------- Date Number of Shares Acquired Price Per Share - -------------------------------------------------------------------------------- 11/25/05 5,500 3.0500 - -------------------------------------------------------------------------------- 11/25/05 1,400 3.0500 - -------------------------------------------------------------------------------- Other than as set forth below, the Reporting Persons currently have no plan or proposal which relates to or would result in any of the actions or transactions described in paragraphs (a) through (j) of Item 4 of the instructions to this Report. On November 29, 2005, the Reporting Persons sent a joint letter to the Board of Directors of Radiologix, Inc. indicating their support of current management, its successful restructuring of the business and returning it to profitability. The letter also encouraged management to now focus on growing the business and operations and increasing shareholder value. To this end, management was encouraged to explore growth through strategic acquisitions or business combinations, as well as, increasing the value, of what the Reporting Persons believe to be an undervalued stock, through possible repurchase of a portion of its currently outstanding debentures. A copy of this letter is attached hereto as exhibit 99.1 and made a part hereof. Item 5. Interest in Securities of the Issuer. (a) and (b) As of the date hereof, Trinad Capital Master Fund Ltd, Trinad Management, LLC (as the general partner of Trinad Capital Master Fund Ltd) and Robert Ellin (as a Managing Member of Trinad Management, LLC) are deemed to beneficially own an aggregate of 968,800 shares of Common Stock, representing approximately 4.31% of the number of shares of Common Stock stated to be outstanding by the Company in its Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. Trinad Capital Master Fund Ltd is deemed to be the direct beneficial owner of 968,800 shares of Common Stock. Trinad Management, LLC is deemed to be the indirect beneficial owner of 968,800 shares of Common Stock. Robert Ellin is deemed to be the indirect beneficial owner of 968,800 shares of Common Stock. Each of Trinad Management, LLC and Robert Ellin disclaim beneficial ownership of the shares of Common Stock directly beneficially owned by Trinad Capital Master Fund Ltd (except for (i) the indirect interest of Trinad Management, LLC by virtue of being the general partner of Trinad Capital Master Fund Ltd, (ii) the indirect interest of Robert Ellin by virtue of being a member of Trinad Management, LLC, and (iii) the indirect interest of Robert Ellin by virtue of being a member of Trinad Capital Master Fund Ltd). Trinad Management, LLC and Robert Ellin have shared power to direct the vote and shared power to direct the disposition of these shares of Common Stock. As of the date hereof, Strategic Turnaround Equity Partners, L.P., Galloway Capital Management LLC (as the general partner of Strategic Turnaround Equity Partners, L.P.), Bruce Galloway and Gary L. Herman (as a Managing Members of Galloway Capital Management LLC) are deemed to beneficially own an aggregate of 129,100 shares of Common Stock, representing approximately 0.58% of the number of shares of Common Stock stated to be outstanding by the Company in its Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission on November 3, 2005. Strategic Turnaround Equity Partners, L.P. is deemed to be the direct beneficial owner of 129,100 shares of Common Stock. Galloway Capital Management LLC is deemed to be the indirect beneficial owner of 129,100 shares of Common Stock. Bruce Galloway and Gary L. Herman are deemed to be the indirect beneficial owners of 129,100 shares of Common Stock. Each of Galloway Capital Management LLC, Bruce Galloway and Gary L. Herman disclaim beneficial ownership of the shares of Common Stock directly beneficially owned by Strategic Turnaround Equity Partners, L.P. (except for (i) the indirect interest of Galloway Capital Management LLC by virtue of being the general partner of Strategic Turnaround Equity Partners, L.P., (ii) the indirect interests of Bruce Galloway and Gary L. Herman by virtue of being members of Galloway Capital Management LLC, and (iii) the indirect interests of Bruce Galloway and Gary L. Herman by virtue of being limited partners of Strategic Turnaround Equity Partners, L.P.). Galloway Capital Management LLC, Gary L. Herman and Bruce Galloway have shared power to direct the vote and shared power to direct the disposition of these shares of Common Stock. Of the 248,200 shares of common stock deemed to be beneficially owned by Bruce Galloway, 38,900 shares of common stock are held by Mr. Galloway individually, 99,400 shares of common stock are owned by Mr. Galloway in conjunction with his wife, Sara Herbert, 2,800 shares of common stock are held by Bruce Galloway, Rollover IRA, 24,300 shares of common stock are held by Sara Galloway, IRA, 18,000 shares of common stock are held by Rexon Galloway Capital Growth LLC and 64,800 shares of common stock are held by Jacombs Investments Inc. Of the 6,900 shares of common stock deemed to be beneficially owned by Gary L. Herman, 5,500 shares of common stock are held by Mr. Herman individually and 1,400 shares of common tock are held by Gary Herman, IRA. (c) Other than as set forth in this Report, the Reporting Persons and the executive officers and directors listed in Item 2 have not effected any transactions in the shares of the Company's equity securities within the past 60 days. (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With the Issuer. Except as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons named in Item 2 hereof and any person with respect to any securities of the Company, including but not limited to transfer or voting of any other securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or loss, or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. Exhibit 99.1: November 29, 2005 Joint Letter to the Board of Directors of Radiologix, Inc. 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. Trinad Capital Master Fund Ltd December 8, 2005 By:/s/ Jay Wolf ------------ Name: Jay Wolf Title: Managing Director of Trinad Management, LLC, the General Partner of Trinad Capital Master Fund Ltd Trinad Management, LLC December 8, 2005 By: /s/ Jay Wolf ------------ Name: Jay Wolf Title: Managing Director Robert Ellin December 8, 2005 /s/ Robert Ellin ---------------- Strategic Turnaround Equity Partners, L.P. December 8, 2005 By:/s/ Bruce Galloway ------------------ Name: Bruce Galloway Title: Managing Member of Galloway Capital Management LLC, the General Partner of Strategic Turnaround Equity Partners, L.P. Galloway Capital Management LLC December 8, 2005 By:/s/ Bruce Galloway ------------------ Name: Bruce Galloway Title: Managing Member Gary L. Herman December 8, 2005 /s/ Gary L. Herman ------------------ Bruce Galloway December 8, 2005 /s/ Bruce Galloway ------------------ The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of the filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).
EX-99.1 2 v031009_ex99-1.txt Trinad Capital Master Fund Ltd. 2121 Avenue of the Stars, Suite 1650 Los Angeles, CA 90067 and Strategic Turnaround Equity Partners, LP 720 Fifth Avenue, 9th Floor New York, NY 10019 November 29, 2005 Sami S. Abbasi President & CEO Radiologix Inc. 3600 Chase Tower 2200 Ross Avenue Dallas, TX 75201 Attention: Board of Directors of Radiologix Inc. Gentlemen: As you may be aware, Trinad Capital Master Fund Ltd., including its affiliates ("Trinad"), and Strategic Turnaround Equity Partners, LP and its affiliates ("STEP") (collectively "We"), are significant shareholders of Radiologix Inc. ("Radiologix" or the "Company"), and we have historically been, and currently are, strong supporters of Radiologix and its management team. While we believe that management is currently doing a good job of running the business, has successfully restructured the business and returned it to profitability, we believe management's primary focus should now be on growing the business and operations of Radiologix and increasing shareholder value. We encourage management to explore prudent growth through strategic acquisitions or business combinations in order to achieve desired results while increasing shareholder value. While we understand that Radiologix may be contractually restricted by the provisions of its current debt facility from increasing the value of its undervalued stock through more traditional means such as declaring and issuing a dividend or undertaking a stock repurchase program, we believe that other means exist to increase shareholder value. For example, we encourage Radiologix to consider and explore the aforementioned strategic acquisition or business combination route, as well as exploring the possible repurchase of a portion of its currently outstanding debentures. In addition, as significant shareholders, we would like to see increased shareholder communication with regard to the strategic direction of Radiologix. We would like to reiterate our support of Radiologix and its operations and prospects. We truly hope you consider our suggestions in order to grow the business of Radiologix and increase shareholder value. Thank you for your time and consideration. Very truly yours, TRINAD CAPITAL MASTER FUND LTD. By: Trinad Capital L.P. By: Trinad Advisors GP LLC By: /s/ Jay A. Wolf -------------------------------- Name: Jay A. Wolf Title: Managing Director STRATEGIC TURNAROUND EQUITY PARTNERS, LP By: Galloway Capital Management, LLC By: /s/ Bruce Galloway -------------------------------- Name: Bruce Galloway Title: Managing Member
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