-----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, IQfb6L4d26InxLCQARLCp3DzJDkzoWn/N664eQUwziW4GRVJisZX0jwQgBSuoaVe Odd8BIWYBsD58Cvfelfe8A== 0001116502-07-001769.txt : 20070912 0001116502-07-001769.hdr.sgml : 20070912 20070912095947 ACCESSION NUMBER: 0001116502-07-001769 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070912 DATE AS OF CHANGE: 20070912 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GARDNER MICHAEL CENTRAL INDEX KEY: 0001133352 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: BUSINESS PHONE: 2125041700 MAIL ADDRESS: STREET 1: C/O BAYTREE CAPITAL ASSOCIATES INC STREET 2: 40 WALL ST SUITE 58 CITY: NEW YORK STATE: NY ZIP: 10005 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Activeworlds Corp CENTRAL INDEX KEY: 0001089531 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 133883101 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-60593 FILM NUMBER: 071112282 BUSINESS ADDRESS: STREET 1: 40 WALL STREET STREET 2: 58TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: (212) 509-1700 MAIL ADDRESS: STREET 1: 40 WALL STREET STREET 2: 58TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: ACTIVEWORLDS COM INC DATE OF NAME CHANGE: 19990811 SC 13D/A 1 gardnersc13da5.htm SC13D/A United States Securities and Exchange Commission EDGAR Filing


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


SCHEDULE 13D


Under the Securities and Exchange Act of 1934


(Amendment No. 5)*


Activeworlds Corp.

--------------------------------------------------------------------------------

(Name of Issuer)


Common Stock, $0.001 Par Value Per Share

--------------------------------------------------------------------------------

(Title of Class of Securities)


0504X207

--------------------------------------------------------------------------------

(CUSIP Number)


Michael Gardner

Baytree Capital Associates LLC, 40 Wall Street,

58th Floor, New York, NY 10005 (212) 509-1700

--------------------------------------------------------------------------------

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)


September 7, 2007

--------------------------------------------------------------------------------

(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 §§ 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 Rule 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).




CUSIP No. 0504X207

13D

Page 2 of 6 Pages



_______________________________________________________________________________

1)

Names of Reporting Persons

I.R.S. Identification Nos. of Above Persons (entities only)


Baytree Capital Associates LLC

_______________________________________________________________________________

2)

Check the Appropriate Box if a Member of a Group (See Instructions)

                                                                 (a)  [X]

                                                                 (b)  [   ]

_______________________________________________________________________________

3)

SEC Use Only (See Instructions)


_______________________________________________________________________________

4)

Source of Funds (See Instructions)


Not Applicable

_______________________________________________________________________________

5)

Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)       [_]


Not Applicable

_______________________________________________________________________________

6)

Citizenship or Place of Organization


Delaware, United States

_______________________________________________________________________________

7)

Sole Voting Power

857,894

Number of

_________________________________________________________________

Shares Beneficially

8)

Shared Voting Power

Owned by Each

0

Reporting Person

_________________________________________________________________

With

9)

Sole Dispositive Power

857,894

_________________________________________________________________

10)

Shared Dispositive Power

0

_______________________________________________________________________________

11)

Aggregate Amount Beneficially Owned by each Reporting Person


857,894

_______________________________________________________________________________

12)

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)


                                                                      [   ]

_______________________________________________________________________________

13)

Percent of Class Represented by Amount in Row (11)


16.1%

_______________________________________________________________________________

14)

Type of Reporting Person (See Instructions)


OO – Limited Liability Company

_____________________________________________________________________________



CUSIP No. 0504X207

13D

Page 3 of 6 Pages



1)

Names of Reporting Persons

I.R.S. Identification Nos. of Above Persons (entities only)


Michael Gardner

_______________________________________________________________________________

2)

Check the Appropriate Box if a Member of a Group (See Instructions)

                                                                 (a)  [X]

                                                                 (b)  [   ]

_______________________________________________________________________________

3)

SEC Use Only (See Instructions)


_______________________________________________________________________________

4)

Source of Funds (See Instructions)


Not Applicable

_______________________________________________________________________________

5)

Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)       [_]


Not Applicable

_______________________________________________________________________________

6)

Citizenship or Place of Organization


United States

_______________________________________________________________________________

7)

Sole Voting Power

            

2,731,054

Number of

_________________________________________________________________

Shares Beneficially

8)

Shared Voting Power

Owned by Each

0

Reporting Person

_________________________________________________________________

With

9)

Sole Dispositive Power

2,731,054

_________________________________________________________________

10)

Shared Dispositive Power

0

_______________________________________________________________________________

11)

Aggregate Amount Beneficially Owned by each Reporting Person


            2,731,054


_______________________________________________________________________________

12)

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)


                                                                      [  ]

_______________________________________________________________________________

13)

Percent of Class Represented by Amount in Row (11)


51.4%

_______________________________________________________________________________

14)

Type of Reporting Person (See Instructions)


IN

_______________________________________________________________________________




CUSIP No. 0504X207

13D

Page 4 of 6 Pages



Item 1.  Security and Issuer.


This statement on Schedule 13D/A No. 5 (the “Statement”) relates to the common stock, $0.001 par value per share Activeworlds Corp., a Delaware corporation (“AWLD”), with its principal executive offices at 40 Wall Street, 58th Floor, New York, NY 10005.



Item 2.  Identity and Background.


(a)

Baytree Capital Associates LLC

(b)

Business address: 40 Wall Street, 58th Floor, New York, NY 10005

(c)

Occupation: Investor. Principal business of employer: invest in other businesses, Baytree Capital Associates LLC, 40 Wall Street, 58th Floor, New York, NY  10005

(d)

No

(e)

No

(f)

Delaware, United States


(a)

Michael Gardner*

(b)

Business address: 40 Wall Street, 58th Floor, New York, NY 10005, c/o Baytree Capital Associates LLC

(c)

Occupation: Investor.  Principal business of employer: invest in other businesses, Baytree Capital Associates LLC, 40 Wall Street, 58th Floor, New York, NY  10005

(d)

No

(e)

No

(f)

United States


* Michael Gardner is the sole beneficial owner and sole managing member of Baytree Capital Associates LLC.  



Item 3.  Source and Amount of Funds or Other Consideration.


Not Applicable




Item 4.  Purpose of Transaction.


All AWLD securities owned by Mr. Gardner and Baytree Capital Associates LLC (“Baytree”) have been acquired for investment purposes only.  Baytree, of which Mr. Gardner is the managing member, cashlessly exercised 1,350,000 warrants as of September 7, 2007 and received 857,894 shares of common stock.  The remaining shares were used to pay the exercise price and therefore cancelled.  


(a)

None

(b)

None

(c)

None

(d)

None

(e)

None

(f)

None

(g)

None

(h)

None

(i)

None

(j)

None


Item 5.  Interest in Securities of the Issuer.


(a)

As of September 7, 2007, Mr. Gardner beneficially owns 2,731,054 shares of AWLD common stock which represents approximately 51.4% of the issued and outstanding common stock of AWLD, including 857,894 shares owned by Baytree (16.1% of outstanding shares).

(b)

Baytree has the sole power to vote and direct the disposition of 857,894 shares of common stock.  Mr. Gardner is the sole managing member of Baytree, and thus effectively he has the power to vote and direct the disposition of such securities owned by Baytree.  Mr. Gardner also has the sole power to vote and direct the disposition of 1,873,160 shares of common stock of AWLD owned by him.



CUSIP No. 0504X207

13D

Page 5 of 6 Pages



(c)

On August 16, 2007, the sole member of AWLD’s Board of Directors reduced the exercise price of $1,050,000 warrants held by Baytree to $.25 per share.  On September 7, 2007, Baytree cashlessly exercised these warrants and an additional 300,000 warrants (exercisable at $.06 per share) and received 857,894 shares.

(d)

None

(e)

N/A



Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect

to Securities of the Issuer.


Not applicable.



Item 7.  Material to be Filed as Exhibits.


Not applicable.




CUSIP No. 0504X207

13D

Page 6 of 6 Pages



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:  September 11, 2007


 

/s/ Michael Gardner

 

----------------------------------------

 

Michael Gardner

 

 

 

 

 

Managing Member

 

----------------------------------------

 

Name/Title


Attention.  Intentional misstatements or omissions of fact constitute federal

criminal violations (see 18 U.S.C. 1001).




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