-----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, OoIxwNyx0/Tl196MEbuFO0w8rUYiXEDFY15yYaAR9OK56oSAxVINS+Yc5w9h8W+P WjZl8YejVpoNvX0gWB+yKA== 0001169232-04-005034.txt : 20041001 0001169232-04-005034.hdr.sgml : 20041001 20040930190946 ACCESSION NUMBER: 0001169232-04-005034 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20041001 DATE AS OF CHANGE: 20040930 GROUP MEMBERS: DAVID F. FIRESTONE GROUP MEMBERS: MONARCH POINTE FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL CARD ESTABLISHMENT INC CENTRAL INDEX KEY: 0001156337 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 954581903 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-79143 FILM NUMBER: 041056335 BUSINESS ADDRESS: STREET 1: 300 ESPLANADE DRIVE STREET 2: SUITE 1950 CITY: OXNARD STATE: CA ZIP: 93030 BUSINESS PHONE: 800-400-0206 MAIL ADDRESS: STREET 1: 300 ESPLANADE DRIVE STREET 2: SUITE 1950 CITY: OXNARD STATE: CA ZIP: 93030 FORMER COMPANY: FORMER CONFORMED NAME: INETEVENTS INC DATE OF NAME CHANGE: 20010802 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MERCATOR ADVISORY GROUP LLC CENTRAL INDEX KEY: 0001218181 IRS NUMBER: 300021359 FILING VALUES: FORM TYPE: SC 13G 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 13G 1 d60834_sc13g.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ___) INTERNATIONAL CARD ESTABLISHMENT, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 45923G 10 3 (CUSIP Number) September 13, 2004 (Date of Event Which Requires Filing of this Statement) |_| Rule 13d-1(b) |X| Rule 13d-1(c) |_| Rule 13d-1(d) SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 2 of 10 Pages - --------------------- ------------------ - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Monarch Pointe Fund, Ltd. - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,596,702 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 2,596,702 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,596,702 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.99% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -2- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 3 of 10 Pages - --------------------- ------------------ - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Mercator Advisory Group, LLC EIN: 300021359 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,596,702, some of which are owned by Monarch Pointe Fund, Ltd. ("MPF"), and some of which are owned by Mercator Advisory Group, LLC ("MAG"). MAG controls the investments of MPF. ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 2,596,702, some of which are held by MPF and some by MAG. - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,596,702 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.99% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -3- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 4 of 10 Pages - --------------------- ------------------ - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) David F. Firestone - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 0 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,596,702, all of which are held by MPF and MAG. David F. Firestone is Managing Member of MAG. ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 2,596,702, all of which are held by MPF and MAG. David F. Firestone is Managing Member of MAG. - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,596,702 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.99% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! -4- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 5 of 10 Pages - --------------------- ------------------ Item 1. Issuer. (a) The name of the issuer is International Card Establishment, Inc. (the "Issuer"). (b) The address of the Issuer's principal executive office is 300 Esplanade Drive, Suite 1950, Oxnard, California 93030. Item 2. Reporting Person and Security. (a) Monarch Pointe Fund, Ltd. ("MPF") is a corporation organized under the laws of the British Virgin Islands. Mercator Advisory Group, LLC ("MAG"), a California limited liability company, controls the investments of MPF. David F. Firestone is the Managing Member of MAG. MPF, MAG and David F. Firestone are referred to herein as the "Reporting Persons." (b) The business address of each of MAG and David F. Firestone is 555 S. Flower Street, Suite 4500, Los Angeles, CA 90071. The business address of MPF is c/o Bank of Ireland Securities Services, Ltd., New Century House, International Financial Services Center, Mayor Street Lower, Dublin 1, Republic of Ireland. (c) MAG is a California limited liability company. MPF is a corporation organized under the laws of the British Virgin Islands. (d) The title of the class of securities to which this statement relates is the common stock of the Issuer, par value $0.0005 per share (the "Common Stock"). (e) The CUSIP number is 45923G 10 3. 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 Act (15 U.S.C. 78o). (b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) |_| Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) |_| Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) |_| An investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E). (f) |_| An employee benefit plan or endowment fund in accordance with ss. 240.13d-1(b)(1)(ii)(F). -5- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 6 of 10 Pages - --------------------- ------------------ (g) |_| A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G). (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (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 (15 U.S.C. 80a-3). (j) |_| Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J). Not Applicable. Item 4. Ownership. MPF and MAG each own warrants to purchase shares of Common Stock. MPF owns 30,000 shares of the Series A Preferred Stock ("Series A Shares") issued by the Issuer which are convertible into Common Stock. Each Series A Share is convertible into the number of shares of Common Stock determined by dividing $100.00 by the Conversion Price at the time of conversion. The Conversion Price is defined as 85% of the average of the lowest three intra-day trading prices of the Common Stock during the 15 trading days preceding the conversion; providing, however, that the Conversion Price may not be less than $0.20 or more than $0.47, adjusted for stock splits and similar events. MPF purchased the Series A Shares from the Issuer, and MPF and MAG received the Warrants from the Issuer, on September 13, 2004. The documentation governing the terms of the warrants and the Series A Shares contains provisions prohibiting any exercise of the warrants or conversion of Series A Shares that would result in the Reporting Persons owning beneficially more than 9.99% of the outstanding shares of Common Stock as determined under Section 13(d) of the Securities Exchange Act of 1934. The Reporting Persons have never had beneficial ownership of more than 9.99% of the outstanding shares of Common Stock. As of September 13, 2004, MPF and MAG owned the following securities of the Issuer: MPF owned 30,000 Series A Shares and warrants to purchase up to 3,003,754 shares of Common Stock. MAG owned warrants to purchase up to 750,938 shares of Common Stock. David F. Firestone owned no securities of the Issuer directly. The right to vote and the right to dispose of the shares beneficially owned by MPF are shared among MPF and both MAG and David F. Firestone. The right to vote and the right to dispose of the shares beneficially owned by MAG are shared by MAG and David F. Firestone. -6- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 7 of 10 Pages - --------------------- ------------------ Assuming that the Issuer had 23,396,324 shares of Common Stock outstanding as of September 13, 2004, which is the number reported by the Issuer as outstanding as of August 16, 2004 in its Quarterly Report on Form 10-QSB for the quarter ended June 30, 2004, the individual Reporting Persons had, on September 13, 2004, beneficial ownership of the following numbers of shares of Common Stock which represented the following percentages of the Common Stock outstanding: Shares Owned Percentage ------------ ---------- MPF 2,596,702 9.99% MAG 2,596,702 9.99% David F. Firestone 2,596,702 9.99% The percentages of the outstanding Common Stock held by the Reporting Parties set forth above and on the cover pages to this report were determined, using a Conversion Price of $.40 with respect to the Series A Shares. Item 5. Ownership of Five Percent or Less of a Class. If this Schedule is being filed to report the fact that as of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following |_| 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 or Control Person. Not Applicable. Item 8. Identification and Classification of Members of the Group. Not Applicable. Item 9. Notice of Dissolution of Group. Not Applicable. -7- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 8 of 10 Pages - --------------------- ------------------ Item 10. Certifications. 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 and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 29, 2004 MONARCH POINTE FUND, LTD. By: /s/ David F. Firestone ----------------------------------- Its: President ----------------------------------- Dated: September 29, 2004 MERCATOR ADVISORY GROUP, LLC By: /s/ David F. Firestone ----------------------------------- David F. Firestone, Managing Member Dated: September 29, 2004 /s/ David F. Firestone --------------------------------------- David F. Firestone -8- SCHEDULE 13G - --------------------- ------------------ CUSIP No. 45923G 10 3 Page 9 of 10 Pages - --------------------- ------------------ EXHIBIT INDEX Exhibit A Agreement of Joint Filing -9- SCHEDULE 13G - --------------------- ------------------- CUSIP No. 45923G 10 3 Page 10 of 10 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 a report on Schedule 13G, containing the information required by Schedule 13G, for shares of the common stock of International Card Establishment, Inc., beneficially owned by Monarch Pointe Fund, Ltd., Mercator Advisory Group, LLC and David F. Firestone and such other holdings as may be reported therein. Dated: September 29, 2004 MONARCH POINTE FUND, LTD. By: /s/ David F. Firestone -------------------------------------- Its: President -------------------------------------- MERCATOR ADVISORY GROUP, LLC By: /s/ David F. Firestone -------------------------------------- David F. Firestone, Managing Member /s/ David F. Firestone - ----------------------------------------- David F. Firestone -10- -----END PRIVACY-ENHANCED MESSAGE-----