-----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, P1N2SjOa9fPtUPrY6syPk396TMAxgP4axRh/SyGSjCgwg6iBHFDqhL0kRL80uTb1 MbtA85RkSDvgHt5B5QNeHA== 0001188112-08-000371.txt : 20080214 0001188112-08-000371.hdr.sgml : 20080214 20080214124013 ACCESSION NUMBER: 0001188112-08-000371 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080214 DATE AS OF CHANGE: 20080214 GROUP MEMBERS: DAVID GRIN GROUP MEMBERS: EUGENE GRIN GROUP MEMBERS: LAURUS CAPITAL MANAGEMENT, LLC GROUP MEMBERS: LAURUS MASTER FUND, LTD. GROUP MEMBERS: PROMETHEAN INDUSTRIES, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VERTICAL HEALTH SOLUTIONS INC CENTRAL INDEX KEY: 0001163332 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MEDICAL, DENTAL & HOSPITAL EQUIPMENT & SUPPLIES [5047] IRS NUMBER: 000000000 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81862 FILM NUMBER: 08611514 BUSINESS ADDRESS: STREET 1: 2595 TAMPA ROAD STREET 2: SUITE E CITY: PALM HARBOR STATE: FL ZIP: 34684 BUSINESS PHONE: 7275472654 MAIL ADDRESS: STREET 1: 2595 TAMPA ROAD STREET 2: SUITE E CITY: PALM HARBOR STATE: FL ZIP: 34684 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LAURUS MASTER FUND LTD CENTRAL INDEX KEY: 0001189294 IRS NUMBER: 980337673 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 152 W 57TH ST CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125415800 SC 13G/A 1 d22718.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.2)* VERTICAL HEALTH SOLUTIONS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.001 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 92533G305 - -------------------------------------------------------------------------------- (CUSIP Number) December 31, 2007 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G 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 the disclosures provided in a prior cover page. The information required in 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. 92533G305 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Promethean Industries, Inc. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 57-1237864
- -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 0 shares of Common Stock.* SHARES ----------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER: 840,000 shares of Common Stock.* OWNED BY ----------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER: 0 shares of Common Stock.* REPORTING ----------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER: 840,000 shares of Common Stock.* - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 840,000 shares of Common Stock* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 5.02%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. CUSIP No. 92533G305 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Laurus Master Fund, Ltd. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0337673
- -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 0 shares of Common Stock.* SHARES ----------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER: 840,000 shares of Common Stock.* OWNED BY ----------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER: 0 shares of Common Stock.* REPORTING ----------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER: 840,000 shares of Common Stock.* - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 840,000 shares of Common Stock* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 5.02%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. CUSIP No. 92533G305 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Laurus Capital Management, LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-4150669
- -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 0 shares of Common Stock.* SHARES ----------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER: 840,000 shares of Common Stock.* OWNED BY ----------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER: 0 shares of Common Stock.* REPORTING ----------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER: 840,000 shares of Common Stock.* - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 840,000 shares of Common Stock* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 5.02%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. CUSIP No. 92533G305 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: David Grin - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION: Israel - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 0 shares of Common Stock.* SHARES ----------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER: 840,000 shares of Common Stock.* OWNED BY ----------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER: 0 shares of Common Stock.* REPORTING ----------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER: 840,000 shares of Common Stock.* - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 840,000 shares of Common Stock* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 5.02%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. CUSIP No. 92533G305 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Eugene Grin - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER: 0 shares of Common Stock.* SHARES ----------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER: 840,000 shares of Common Stock.* OWNED BY ----------------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER: 0 shares of Common Stock.* REPORTING ----------------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER: 840,000 shares of Common Stock.* - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 840,000 shares of Common Stock* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 5.02%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. CUSIP Number: 92533G305 Item 1(a). Name of Issuer: VERTICAL HEALTH SOLUTIONS, INC. Item 1(b). Address of Issuer's Principal Executive Offices: 2595 Tampa Road, Suite E, Palm Harbor, FL 34684 Item 2(a). Name of Person Filing: Laurus Master Fund, Ltd. This Schedule 13G, as amended, is also filed on behalf of Promethean Industries, Inc., a Delaware corporation, Laurus Capital Management, LLC, a Delaware limited liability company, Eugene Grin and David Grin. Promethean Industries, Inc. is a wholly-owned subsidiary of Laurus Master Fund, Ltd. Laurus Capital Management, LLC manages Laurus Master Fund, Ltd. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the Shares owned by Promethean Industries, Inc. Information related to each of Promethean Industries, Inc., Laurus Capital Management, LLC, Eugene Grin and David Grin is set forth on Appendix A hereto. Item 2(b). Address of Principal Business Office or if none, Residence: c/o Laurus Capital Management, LLC, 335 Madison Avenue, 10th Floor, New York, New York 10017 Item 2(c). Citizenship: Cayman Islands Item 2(d). Title of Class of Securities: Common Stock Item 2(e). CUSIP Number: 92533G305 Item 3. Not Applicable Item 4. Ownership: (a) Amount Beneficially Owned:840,000 shares of Common Stock* (b) Percent of Class: 5.02%* (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 shares of Common Stock* (ii) shared power to vote or to direct the vote: 840,000 shares of Common Stock* (iii) sole power to dispose or to direct the disposition of: 0 shares of Common Stock* (iv) shared power to dispose or to direct the disposition of: 840,000 shares of Common Stock* 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 - -------------------------------------------------------------------------------- * Based on 16,722,347 shares of the common stock, par value $0.001 outstanding (the "Shares") of Vertical Health Solutions, Inc., a Florida corporation (the "Company"), as disclosed in the Company's Quarterly Report on Form 10QSB for the quarterly period ended September 30, 2007. As of December 31, 2007, Promethean Industries, Inc. ("Promethean") owns 840,000 Shares. Promethean is a wholly owned subsidiary of Laurus Master Fund, Ltd. (the "Fund"). The Fund is managed by Laurus Capital Management, LLC. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and share sole voting and investment power over the securities owned by Promethean reported in this Schedule 13G, as amended. Item 7. Identification and Classification of Subsidiary Which Acquired the Securities: 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 and belief, I certify that the information set forth in this statement is true, complete and correct. February 14, 2008 ----------------- Date LAURUS MASTER FUND, LTD. /s/ David Grin -------------- David Grin Director APPENDIX A A. Name: Promethean Industries, Inc., a Delaware corporation Business Address: 335 Madison Avenue, 10th Floor, New York, New York 10017 Place of Organization: Delaware A. Name: Laurus Capital Management, LLC, a Delaware limited liability company Business Address: 335 Madison Avenue, 10th Floor, New York, New York 10017 Place of Organization: Delaware B. Name: David Grin Business Address: 335 Madison Avenue, 10th Floor, New York, New York 10017 Principal Occupation: Director of Laurus Master Fund, Ltd. Principal of Laurus Capital Management, LLC Citizenship: Israel C. Name: Eugene Grin Business Address: 335 Madison Avenue, 10th Floor, New York, New York 10017 Principal Occupation: Director of Laurus Master Fund, Ltd. Principal of Laurus Capital Management, LLC Citizenship: United States
Each of Promethean Industries, Inc., Laurus Capital Management, LLC, Eugene Grin and David Grin hereby agrees, by their execution below, that the Schedule 13G, as amended, to which this Appendix A is attached is filed on behalf of each of them, respectively. Promethean Industries, Inc. By: Laurus Capital Management, LLC Individually and as investment manager By: /s/ David Grin ---------------------- David Grin Principal February 14, 2008 /s/ David Grin -------------------------------------- David Grin, on his individual behalf February 14, 2008 /s/ Eugene Grin -------------------------------------- Eugene Grin, on his individual behalf February 14, 2008 -----END PRIVACY-ENHANCED MESSAGE-----