0000950138-11-000495.txt : 20110923 0000950138-11-000495.hdr.sgml : 20110923 20110923153803 ACCESSION NUMBER: 0000950138-11-000495 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110923 DATE AS OF CHANGE: 20110923 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TAIL WIND FUND LTD CENTRAL INDEX KEY: 0001074435 IRS NUMBER: 000000000 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: WINDERMERE HOUSE STREET 2: 404 EAST BAY STREET P O BOX SS-5539 CITY: BRITISH VIRGIN ISLES STATE: A1 ZIP: 00000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NETSOL TECHNOLOGIES INC CENTRAL INDEX KEY: 0001039280 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 954627685 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-56913 FILM NUMBER: 111105178 BUSINESS ADDRESS: STREET 1: 23901 CALABASAS ROAD STREET 2: SUITE 2072 CITY: CALABASAS STATE: CA ZIP: 91302 BUSINESS PHONE: 8182229195 MAIL ADDRESS: STREET 1: 23901 CALABASAS ROAD STREET 2: SUITE 2072 CITY: CALABASAS STATE: CA ZIP: 91302 FORMER COMPANY: FORMER CONFORMED NAME: NETSOL INTERNATIONAL INC DATE OF NAME CHANGE: 19990819 FORMER COMPANY: FORMER CONFORMED NAME: MIRAGE HOLDINGS INC DATE OF NAME CHANGE: 19970519 SC 13G 1 sep23tailwind13g-netsol.htm SCHEDULE 13G sep23tailwind13g-netsol.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G
(RULE 13d - 102)

Information to be included in statements filed pursuant
to Rules 13d-1(b), (c) and (d) and amendments thereto filed
pursuant to 13d-2(b)

(AMENDMENT NO.___ )*

NetSol Technologies, Inc.
(Name of Issuer)

Common Stock, $0.001 par value
(Title of Class of Securities)

64115A204
(CUSIP Number)


September 13, 2011
(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
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 ("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).

(Continued on the Following Pages)

(Page 1 of 5)

 
 
 

CUSIP No. 64115A204                                                                       13G                                          Page 2 of 5 Pages


1.           NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       The Tail Wind Fund Ltd.

2.           CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  [ ]
(b)  [ ]

3.           SEC USE ONLY

4.           CITIZENSHIP OR PLACE OF ORGANIZATION

        A British Virgin Islands corporation

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5.           SOLE VOTING POWER

       5,289,952

6.           SHARED VOTING POWER

             0

7.           SOLE DISPOSITIVE POWER

       5,289,952

8.           SHARED DISPOSITIVE POWER

              0

9.           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       5,289,952

10.           CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*       [ ]

11.           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

             8.6%

12.           TYPE OF REPORTING PERSON*

              CO

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 
 
 

CUSIP No. 64115A204                                                                   13G                                                   Page 3 of 5 Pages




ITEM 1(a).     NAME OF ISSUER:

NetSol Technologies, Inc. (the "Issuer")

ITEM 1(b).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

23901 Calabasas Road, Suite 2072, Calabasas, CA 91302

ITEM 2(a).      NAME OF PERSON FILING:

The name of the person filing this statement on Schedule 13G is The Tail Wind Fund Ltd. ("Tail Wind").  CIM Investment Management Ltd., a UK corporation authorized and regulated by the Financial Services Authority of Great Britain (“CIM”), is the investment manager for The Tail Wind Fund Ltd., and James Morton is the controlling shareholder of CIM.  Each of CIM and James Morton expressly disclaims any equitable or beneficial ownership of the shares being registered hereunder and held by The Tail Wind Fund Ltd.

ITEM 2(b).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

The Bank of Nova Scotia Trust Company (Bahamas) Ltd.
Windermere House
404 East Bay Street
P.O. Box SS-5539
Nassau, Bahamas
Attn:  Ngaire Strachan

ITEM 2(c).     CITIZENSHIP:

The Tail Wind Fund Ltd. is a corporation duly formed under the laws of the British Virgin Islands.

ITEM 2(d).      TITLE OF CLASS OF SECURITIES:

Common Stock

ITEM 2(e).      CUSIP NUMBER:

64115A204
 
ITEM 3.         IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
       13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
 
(a)     [ ] Broker or dealer registered under Section 15 of the Exchange Act.
 
(b)     [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.
 
(c)     [ ] Insurance company defined in Section 3(a)(19) of the Exchange Act.
 
(d)     [ ] Investment company registered under Section 8 of the Investment Company Act.
 
(e)     [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
 
(f)     [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).

(g)     [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).

(h)     [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.

(i)     [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;

(j)     [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

        If this statement is filed pursuant to Rule 13d-1(c), check this box [x]

 
 
 


CUSIP No. 64115A204                                                                     13G                                                   Page 4 of 5 Pages



ITEM 4.         OWNERSHIP.

        Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

        (a)    Amount beneficially owned:

The Tail Wind Fund Ltd. (“Tail Wind”) owns a total of 5,289,952 shares of Common Stock, including 4,022,346 shares of Common Stock issuable upon conversion of $3,600,000 in principal amount of the issuer’s 8.25% Convertible Note issued to Tail Wind on September 13, 2011, and (ii) 1,267,606 shares of Common Stock issuable upon exercise of a Warrant issued to Tail Wind on such date.

    (b)    Percent of class:
 
 
Tail Wind’s beneficial ownership of 5,289,952 shares of Common Stock constitutes 8.6% of all the outstanding shares of Common Stock, based upon 56,076,355 shares of Common Stock outstanding as of September 13, 2011 as reported to us by the issuer.

    (c)    Number of shares as to which such person has:

(i)     Sole power to vote or to direct the vote
 
                                                 5,289,952

(ii)    Shared power to vote or to direct the vote

                                                 Not applicable.

(iii)    Sole power to dispose or to direct the disposition of
 
                                                 5,289,952

(iv)    Shared power to dispose or to direct the disposition of

                                                Not applicable.


ITEM 5.         OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
 
If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].

ITEM 6.         OWNERSHIP OF MORE THAN FIVE PERCENT 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. 64115A204                                                                     13G                                                Page 5 of 5 Pages


ITEM 10.        CERTIFICATION.

By signing below the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.



 SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete, and correct.




Dated: September 23, 2011
THE TAIL WIND FUND LTD.
   
   
   
By:
/s/ Andrew P. MacKellar, Director
 
Andrew P. MacKellar, Director