-----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, N3z90kmqzqRliHoDHvxN7yGCO3+ktrlIldYuGJ4yLOkZT2dhxtxNpvdJMSuht2W0 pxxCfpHU2FoRDap6mVHoxg== 0001141218-03-000050.txt : 20030327 0001141218-03-000050.hdr.sgml : 20030327 20030326194443 ACCESSION NUMBER: 0001141218-03-000050 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030327 GROUP MEMBERS: DAVID F. FIRESTONE GROUP MEMBERS: MERCATOR FOCUS FUND, L.P. GROUP MEMBERS: MERCATOR MOMENTUM FUND III, L.P. GROUP MEMBERS: MERCATOR MOMENTUM FUND, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEDIABUS NETWORKS INC CENTRAL INDEX KEY: 0001123130 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 650832987 STATE OF INCORPORATION: FL FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-78942 FILM NUMBER: 03619240 BUSINESS ADDRESS: STREET 1: 2900 DELK ROAD STREET 2: SUITE 700 - PMB 113 CITY: MARIETTA STATE: GA ZIP: 30067 BUSINESS PHONE: 770-977-0944 MAIL ADDRESS: STREET 1: 2900 DELK ROAD STREET 2: SUITE 700 - PMB 113 CITY: MARIETTA STATE: GA ZIP: 30067 FORMER COMPANY: FORMER CONFORMED NAME: BY&C MANAGEMENT INC DATE OF NAME CHANGE: 20000831 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MERCATOR ADVISORY GROUP LLC CENTRAL INDEX KEY: 0001218181 IRS NUMBER: 300021359 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 555 S. FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 2135338288 MAIL ADDRESS: STREET 1: 555 SOUTH FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 SC 13D 1 mercatormediabus13d.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. __)* MEDIABUS NETWORKS, INC. _______________________ (Name of Issuer) Common Stock ______________________________ (Title of Class of Securities) 58446 W 10 9 ______________ (CUSIP Number) Mercator Advisory Group, LLC 555 South Flower Street, Suite 4500 Los Angeles, CA 90071 _________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 12, 2003 _____________________________________________________ (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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-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 Section 240.13d-7 for other parties to whom copies are to be sent. *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). SCHEDULE 13D CUSIP No. 58446 W 10 9 Page 2 of 11 Pages - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only): 1 Mercator Momentum Fund, L.P. ("Momentum Fund") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | | (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ------------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING PERSON 807,882 WITH ------------------------------------------------------------- BENEFICIALLY OWNED BY 9 SOLE DISPOSITIVE POWER EACH REPORTING 0 PERSON ------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 807,882 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 807,882 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 58446 W 10 9 Page 3 of 11 Pages - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only): 1 Mercator Focus Fund, L.P. ("Focus Fund") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | | (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ------------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING PERSON 5,251,236 WITH ------------------------------------------------------------- BENEFICIALLY OWNED BY 9 SOLE DISPOSITIVE POWER EACH REPORTING 0 PERSON ------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 5,251,236 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,251,236 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 58446 W 10 9 Page 4 of 11 Pages - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only): 1 Mercator Momentum Fund III, L.P. ("Momentum Fund III") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | | (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ------------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING PERSON 673,235 WITH ------------------------------------------------------------- BENEFICIALLY OWNED BY 9 SOLE DISPOSITIVE POWER EACH REPORTING 0 PERSON ------------------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 673,235 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 673,235 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.7% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 58446 W 10 9 Page 5 of 11 Pages - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only): 1 Mercator Advisory Group, LLC ("MAG") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | | (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 0 BENEFICIALLY ------------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING PERSON 6,732,353, all of which are held by Momentum WITH Fund, Focus Fund and Momentum Fund III (the "Funds"). MAG BENEFICIALLY is the general partner of each of the Funds. OWNED BY ------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,732,353, all of which are held by the Funds. MAG is the general partner of each of the Funds. - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,732,353 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IA - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 58446 W 10 9 Page 6 of 11 Pages - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only): 1 David F. Firestone ("Firestone") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | | (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF, 00 - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 581,143 BENEFICIALLY ------------------------------------------------------------- OWNED BY EACH 8 SHARED VOTING POWER REPORTING PERSON 6,732,353, all of which are held by the Funds. WITH Firestone is the Managing Member of MAG. BENEFICIALLY OWNED BY ------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 6,732,353, all of which are held by the Funds. Firestone is the Managing Member of MAG. - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,313,496 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- Item 1. Security and Issuer This statement relates to shares of common stock, par value $0.0000303 per share, of MediaBus Networks, Inc., a Florida corporation (the "Issuer"). The principal executive office of the Issuer is located at 755 W. Big Beaver Road, Suite 1700, Troy, Michigan 48084. Item 2. Identity and Background (a) (c), (f) The Funds are private investment limited partnerships organized under California law. The general partner of the Funds is MAG, a California limited liability company. MAG is an investment advisor. The managing member of MAG is David F. Firestone, a citizen of the United States. The address for the Funds, MAG and Firestone is 555 South Flower Street, Suite 4500, Los Angeles, CA 90071 (the Funds, MAG and Firestone are collectively referred to as the "Reporting Parties"). (d) and (e) During the last five years, none of the Reporting Parties have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration Each of the three Funds raised its capital by selling limited partnership interests in a private placement to purchasers who were "accredited" investors for purposes of Rule 501 of Regulation D under the Securities Act of 1933 and "qualified clients" within the meaning of Rule 205 3(d) under the Investment Advisors Act of 1940, as amended. On February 12, 2003 pursuant to a Securities Purchase Agreement the Funds purchased from the Issuer 6.5% Secured Convertible Debentures ("Debentures") in the principal amount of $2 million. The Funds also received warrants to purchase shares of the Issuer's common stock ("Warrants"). The Debentures may be converted at any time into shares of common stock at a price which is the lower of: (a) $0.34 or (b) 85% of the average of the lowest three inter day trading prices during the 20 trading days prior to the conversion date. For purposes of this filing, the Funds have used a conversion price of $0.34 a share. Assuming all $2 million of the Debentures were converted, the Funds would receive 5,882,353 shares of the Issuer's common stock. The Funds also received Warrants to acquire a total of 850,000 shares of the Issuer's common stock. Each Warrant is immediately exercisable. If the Funds were to convert all of the Debentures and exercise all of the Warrants they would collectively own 6,732,353 shares or 6.5% of the Issuer's common stock. Item 4. Purpose of Transaction The Funds purchased the Debentures and the Warrants for investment purposes. MAG and the Funds have no present intention to acquire any additional shares of common stock other than the shares issuable upon the conversion of the Debentures and the exercise of the Warrants. Page 7 of 11 Pages Firestone received 581,143 shares for providing consulting services to the Issuer. Firestone has no present intention of acquiring any additional shares of common stock. Three other employees or affiliates of MAG received a total of 2,324,571 shares of the Issuer's common stock for providing consulting services. Item 5. Interest in Securities of the Issuer (a) and (b) As of the close of business on February 12, 2003, the Reporting Parties collectively owned 7,313,496 shares representing a total ownership percentage of 7.1%. The number of shares and ownership percentages of the Reporting Persons are set forth opposite their names below: No. of Ownership Reporting Party Shares* Percentage* - --------------- ------- ----------- Momentum Fund 807,882 0.8% Focus Fund 5,251,236 5.1% Momentum Fund III 673,235 0.7% MAG** 6,732,353 6.5% Firestone*** 581,143 0.6% * Assumes all of the Debentures are converted and that all of the Warrants are exercised. ** MAG is the general partner of the Momentum Fund, Focus Fund and Momentum Fund III. All three of the Funds share voting and dispositive power with MAG and Firestone with respect to the 6,732,353 shares owned by the Funds. *** Firestone is the managing member of MAG. Firestone is also the beneficial owner of 581,143 shares of common stock over which he exercises sole voting and dispositive power. (c) Firestone acquired the 581,143 shares of the common stock of the Issuer held personally by him on February 11, 2003, as consideration for providing consulting services to the Issuer. The Funds acquired the Debentures and the Warrants on February 12, 2003, pursuant to a Securities Purchase Agreement among the Issuer, a subsidiary of the Issuer and the Funds. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer In connection with the issuance of the Debentures to the Funds, the three principal shareholders of the Issuer (each, a "Shareholder") entered into Pledge and Payment Guaranty Agreements in favor of MAG acting as agent for the Funds. The number of shares owned by each Shareholder is set forth opposite his name, representing the percentage ownership set forth below. No. of Percentage Shareholder Shares Ownership* - ----------- ------ ---------- Craig A. Vanderburg 35,476,341 36.6% John W. Burcham 35,476,341 36.6% James E. Baiers 7,881,749 8.1% *The percentage ownership assumes that none of the Debentures have been converted into shares of common stock and none of the Warrants have been exercised. The terms of the Securities Purchase Agreement regarding the issuance of the Debentures require the Issuer to file a registration statement registering all of the shares issuable upon conversion of the Debentures and exercise of the Warrants. Page 8 of 11 Pages All of the 581,143 shares issued to Firestone have been registered by the Issuer on a Registration Statement filed with the SEC on February 11, 2003 pursuant to a commitment made by the Issuer to Firestone in connection with the issuance of the shares. Item 7. Material to Be Filed as Exhibits Attached as Exhibit A is a copy of the Joint Filing Agreement executed by the Reporting Persons pursuant to Section 240.13d-1(k). SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. Date: March 26, 2003 /s/ David F. Firestone _________________________________________ David F. Firestone Date: March 26, 2003 MERCATOR ADVISORY GROUP, LLC By: /s/ David F. Firestone _____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR MOMENTUM FUND, L.P. By: MERCATOR ADVISORY GROUP, LLC, its general partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR FOCUS FUND, L.P. By: MERCATOR ADVISORY GROUP, LLC, its general partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR MOMENTUM FUND III, L.P. By: MERCATOR ADVISORY GROUP, LLC, its general partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member Page 9 of 11 Pages EXHIBIT INDEX Exhibit A Agreement of Joint Filing Page 10 of 11 Pages EXHIBIT A --------- AGREEMENT OF JOINT FILING The undersigned hereby agree that they are filing jointly pursuant to Rule 13d-1 of the Securities Exchange Act of 1934 the Schedule 13D, dated March 26, 2003, containing the information required by Schedule 13D, for the shares of Common Stock issuable upon the conversion of certain Debentures and the exercise of certain Warrants of MediaBus Networks, Inc. held by Mercator Momentum Fund, L.P., Mercator Focus Fund, L.P., Mercator Momentum Fund III, L.P., Mercator Advisory Group, LLC, and David F. Firestone and such other holdings as may be reported therein. Page 10 of 10 Pages Date: March 26, 2003 /s/ David F. Firestone _________________________________________ David F. Firestone Date: March 26, 2003 MERCATOR ADVISORY GROUP, LLC By: /s/ David F. Firestone _____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR MOMENTUM FUND, L.P. By: MERCATOR ADVISORY GROUP, LLC, its General Partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR FOCUS FUND, L.P. By: MERCATOR ADVISORY GROUP, LLC, its General Partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member Date: March 26, 2003 MERCATOR MOMENTUM FUND III, L.P. By: MERCATOR ADVISORY GROUP, LLC, its General Partner By: /s/ David F. Firestone ____________________________________ David F. Firestone, Managing Member -----END PRIVACY-ENHANCED MESSAGE-----