0001026505-11-000007.txt : 20110930
0001026505-11-000007.hdr.sgml : 20110930
20110930164350
ACCESSION NUMBER: 0001026505-11-000007
CONFORMED SUBMISSION TYPE: SC 13G
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20110930
DATE AS OF CHANGE: 20110930
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: AKIN THOMAS B
CENTRAL INDEX KEY: 0001026505
STATE OF INCORPORATION: CA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
MAIL ADDRESS:
STREET 1: 2400 BRIDGEWAY # 200
STREET 2: SUITE 200
CITY: SAUSALITO
STATE: CA
ZIP: 94965
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: CROSSROADS SYSTEMS INC
CENTRAL INDEX KEY: 0001093207
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
IRS NUMBER: 742846643
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: SC 13G
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-57603
FILM NUMBER: 111117318
BUSINESS ADDRESS:
STREET 1: 11000 NORTH MOPAC EXPRESSWAY
CITY: AUSTIN
STATE: TX
ZIP: 78759
BUSINESS PHONE: 5123490300
MAIL ADDRESS:
STREET 1: 11000 NORTH MOPAC EXPRESSWAY
STREET 2: .
CITY: AUSTIN
STATE: TX
ZIP: 78759
SC 13G
1
CRDS.SC13G.9.30.2011.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CROSSROADS SYSTEMS INC.
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE PER SHARE
(Title of Class of Securities)
22765D2099
(CUSIP number)
Thomas B. Akin
Talkot Capital, LLC
2400 Bridgeway, Suite 300
Sausalito, CA 94965
415-332-3760
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
September 30, 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 page shall not be deemed to
be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1
934 ("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. 22765D2099
1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
Thomas Bruce Akin
-----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
-----------------------------------------------------------------------------
3 SEC USE ONLY
-----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
-----------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 278,313
BENEFICIALLY --------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 684,226
REPORTING --------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 278,313
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
684,226
-----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
278,313
-----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
-----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.55%
-----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
CUSIP No. 22765D2099
1 NAME OF REPORTING PERSON
IRS IDENTIFICATION NO. OF ABOVE PERSON
Talkot Fund, L.P.
91-1804621
-----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
-----------------------------------------------------------------------------
3 SEC USE ONLY
-----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
-----------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 405,913
BENEFICIALLY ---------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH -0-
REPORTING ---------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 405,913
---------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
-----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
405,913
-----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
-----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.72%
-----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
ITEM 1(a). Name of Issuer:
Crossroads Systems Inc.
Item 1(b). Address of Issuer's Principal Office:
11000 North Mopac Expressway
Austin, TX 78759
United States
Item 2(a). Name of Person Filing:
This Statement on Schedule 13G is being filed on behalf of
the following persons (each, a 'Reporting Person' and
collectively, the 'Reporting Persons'):
Thomas B. Akin
Talkot Fund, L.P.
Item 2(b). Address of Principal Business Office or, if none, Residence:
The principal business address of each reporting person is
2400 Bridgeway, Suite 300, Sausalito, CA 94965.
Item 2(c). Citizenship:
USA
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value per share
Item 2(e). CUSIP Number:
22765D2099
Item 3. If this statement is filed pursuant to Rule 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a)[ ] Broker or Dealer registered under Section 15 of the
Act
(b)[ ] Bank as defined in section 3(a)(6) of the Act
(c)[ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d)[ ] Investment Company registered under section 8 of
the Investment Company Act of 1940
(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)(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 of 1940
(j)[ ] Group, in accordance with 13d-1(b)(1)(ii)(J)
Item 4. Ownership:
For each Reporting Person:
(a) Amount Beneficially Owned:
Thomas B. Akin and Talkot Fund, L.P. beneficially own 684,226
shares of Common Stock. Of such 684,226 shares of Common Stock,
Thomas B. Akin directly beneficially owns 278,313 shares of Common
Stock, and Talkot Fund, L.P. directly beneficially owns 405,913
shares of Common Stock.
(b) Percent of Class:
6.28%
This percentage is based on 10,900,926 shares of Common Stock
issued and outstanding as of August 15, 2011, as reported in
the prospectus filed pursuant to Rule 424(b)(3) with
the Securities and Exchange Commission (the "Commission") on
September 14, 2011.
(c) Number of shares to which each Reporting Person has:
(i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
684,226
(iii) Sole power to dispose or to direct the
disposition of:
-0-
(iv) Shared power to dispose of or direct the
disposition of:
684,226
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable.
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.
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.
SIGNATURE
After reasonable inquiry and to the best of my knowledge, I certify that the
information set forth in this statement is true, complete and correct.
DATED: September 30, 2011
/s/ Thomas Bruce Akin
Thomas Bruce Akin
TALKOT FUND, L.P.
By: /s/ Thomas Bruce Akin
Thomas Bruce Akin, Managing General Partner