-----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, L19TP1xgbDI3tl9wszThA2NnKebVq8QDZT4Yir/O3WULtBnqyiQK2VJd86yveqLF 0VyUNJB0fpSudDKKaKqZ3Q== 0000911420-07-000431.txt : 20070524 0000911420-07-000431.hdr.sgml : 20070524 20070524150414 ACCESSION NUMBER: 0000911420-07-000431 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070524 DATE AS OF CHANGE: 20070524 GROUP MEMBERS: COMMONWEALTH ASSOCIATES LIQUIDATION, LLC GROUP MEMBERS: COMMONWEALTH ASSOCIATES MANAGEMENT COMPANY, INC. GROUP MEMBERS: COMVEST GROUP HOLDINGS, LLC GROUP MEMBERS: COMVEST MANAGEMENT, LLC GROUP MEMBERS: COMVEST VENTURE PARTNERS, LP GROUP MEMBERS: MICHAEL S. FALK, INDIVIDUALLY FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: COMVEST VENTURE PARTNERS LP CENTRAL INDEX KEY: 0001163944 IRS NUMBER: 134124841 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 830 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OMNICOMM SYSTEMS INC CENTRAL INDEX KEY: 0001034592 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 113349762 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-62199 FILM NUMBER: 07876679 BUSINESS ADDRESS: STREET 1: 2555 DAVIE ROAD STREET 2: SUITE 110-B CITY: FORT LAUDERDALE STATE: FL ZIP: 33317 BUSINESS PHONE: 954-473-1254 MAIL ADDRESS: STREET 1: 2555 DAVIE ROAD STREET 2: SUITE 110-B CITY: DAVIE STATE: FL ZIP: 33317 FORMER COMPANY: FORMER CONFORMED NAME: CORAL DEVELOPMENT CORP DATE OF NAME CHANGE: 19970225 SC 13D/A 1 d238415139.txt STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Amendment No. 3) OMNICOMM SYSTEMS, INC. (Name of Issuer) Common Stock, par value $.001 (Title of Class of Securities) 68212 U 10 4 (CUSIP Number) Michael S. Falk Comvest Venture Partners, L.P. 830 Third Avenue New York, New York 10022 (212) 829-5839 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy to: Alan I. Annex, Esq. Greenberg Traurig, LLP 200 Park Avenue New York, New York 10166 March 19, 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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 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. (Page 1 of 12) CUSIP No. 68212 U 10 4 13D/A Page 2 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS ComVest Venture Partners, L.P. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 13-4124841 ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,177,747 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,177,747 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,177,747 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 3 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS ComVest Management, LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 06-1588650 ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* AF ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,177,747 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,177,747 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,177,747 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* OO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 4 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS ComVest Group Holdings, LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 01-0622406 ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* AF ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,177,747 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,177,747 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,177,747 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* OO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 5 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS Commonwealth Associates Liquidation, LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 82-0541574 ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* OO ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 369,905 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 369,905 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 369,905 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.7% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* OO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 6 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS Commonwealth Associates Management Company, Inc. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 13-3468747 ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* AF ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 369,905 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 369,905 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 369,905 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.7% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* CO ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 7 of 12 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS Michael S. Falk I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* AF ________________________________________________________________________________ 5 CHECK BOX 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 140,014 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 2,547,652 OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 140,014 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 2,547,652 ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,687,666 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.8% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 68212 U 10 4 13D/A Page 8 of 12 Pages This Amendment No. 3 ("Amendment No. 3") amends the Statement of Beneficial Ownership on Schedule 13D, originally filed with the Securities and Exchange Commission (the "Commission") on April 10, 2002, Amendment No. 1 thereto filed with the Commission on October 1, 2004 and Amendment No. 2 thereto filed with the Commission on September 6, 2006 (together, the "Schedule 13D"), by ComVest Venture Partners, ComVest Management, LLC, ComVest Group Holdings, LLC, Commonwealth Associates Liquidation, LLC, Commonwealth Associates Management Company. Inc and Michael S. Falk (collectively the "Reporting Persons"), with respect to the shares of common stock, par value $0.001 per shares (the "Common Stock"), of OmniComm Systems, Inc., a Delaware corporation with its principal executive offices located at 2101 W. Commercial Blvd., Suite 4000, Fort Lauderdale, Florida 33309. Unless specifically amended hereby, the disclosures set forth in the Schedule 13D shall remain unchanged. Item 5. Interest in Securities of the Issuer. The response to Item 5 is hereby amended and restated in its entirety as follows: (a) ComVest beneficially owns an aggregate of 2,177,747 shares of Common Stock, representing approximately 3.9% of the issued and outstanding shares of Common Stock of the Issuer. ComVest Management, as the general partner of ComVest, may be deemed to beneficially own the 2,177,747 shares of Common Stock, representing approximately 3.9% of the issued and outstanding shares of Common Stock of the Issuer, directly beneficially owned by ComVest. CGH, as the sole member of ComVest Management, may be deemed to beneficially own the 2,177,747 shares of Common Stock, representing approximately 3.9% of the issued and outstanding shares of Common Stock of the Issuer, directly beneficially owned by ComVest. CAL beneficially owns an aggregate of 369,905 shares of Common Stock, representing approximately 0.7% of the issued and outstanding shares of Common Stock of the Issuer. CAMC, as the managing member of CAL, may be deemed to beneficially own the 369,905 shares of Common Stock, representing approximately 0.7% of the issued and outstanding shares of Common Stock of the Issuer, directly beneficially owned by CAL. Falk may be deemed to be the beneficial owner of an aggregate of 2,687,666 shares of Common Stock, representing approximately 4.8% of the issued and outstanding shares of Common Stock of the Issuer consisting of: (a) 2,177,747 shares of Common Stock beneficially owned by ComVest; (b) 369,905 shares of Common Stock beneficially owned by CAL; and (c) 140,014 shares of Common Stock which he directly beneficially owns. In his capacity as controlling equity owner of CAMC, which is the managing member of CAL, the owner of all the interests in ComVest Management (the general partner of ComVest), Mr. Falk may be deemed to share indirect voting and dispositive power with respect to such entities' shares and may therefore be deemed to be the beneficial owner of such securities. (b) Number of shares as to which each such person has: (1) Sole power to vote or to direct the vote, and sole power to dispose or direct the disposition of: Name Number of Shares ---- ---------------- Michael Falk 140,014 CUSIP No. 68212 U 10 4 13D/A Page 9 of 12 Pages (2) Shared power to vote or to direct the vote, and shared power to dispose or direct the disposition of: (i) CAL, CAMC and Mr. Falk may be deemed to share such voting and disposition powers with respect to the 369,905 shares of Common Stock beneficially owned by CAL. (ii) ComVest, ComVest Management, CGH and Mr. Falk may be deemed to share such voting and disposition powers with respect to the 2,177,747 shares of Common Stock beneficially owned by ComVest. (c) Since the filing of Amendment No. 2 to the Schedule 13D on September 6, 2006, ComVest has engaged in the following transactions with respect to the Common Stock: (i) sold 9,000 shares of Common Stock on April 20, 2007 for $5,445 representing a per share price of $0.605; (ii) sold 9,000 shares of Common Stock on April 23, 2007 for $5,445 representing a per share price of $0.605; (iii) sold 18,000 shares of Common Stock on April 24, 2007 for $10,845 representing a per share price of $0.6025; and (iv) sold 12,195 shares of Common Stock on May 22, 2007 for $7,317 representing a per share price of $0.60. Since the filing of Amendment No. 2 to the Schedule 13D on September 6, 2006, CAL has engaged in the following transactions with respect to the Common Stock: (i) sold 1,400 shares of Common Stock on April 20, 2007 for $847 representing a per share price of $0.605; (ii) sold 1,400 shares of Common Stock on April 23, 2007 for $847 representing a per share price of $0.605; (iii) sold 2,800 shares of Common Stock on April 24, 2007 for $1,687 representing a per share price of $0.6025; and (iv) sold 1,897 shares of Common Stock on May 22, 2007 for $1,138.20 representing a per share price of $0.60. Since the filing of Amendment No. 2 to the Schedule 13D on September 6, 2006, Falk has engaged in the following transactions with respect to the Common Stock: (i) sold 600 shares of Common Stock on April 20, 2007 for $363 representing a per share price of $0.605; (ii) sold 600 shares of Common Stock on April 23, 2007 for $363 representing a per share price of $0.605; (iii) sold 1200 shares of Common Stock on April 24, 2007 for $723 representing a per share price of $0.6025; and (iv) sold 813 shares of Common Stock on May 22, 2007 for $487.80 representing a per share price of $0.60. (d) Not applicable. (e) As of March 19, 2007, the Reporting Persons ceased to be the beneficial owners of more than five percent of the Issuers Common Stock. Item 7. Material to be Filed as Exhibits. 1. Joint Filing Agreement, as required by Rule 13d-1 under the Securities exchange Act of 1934. CUSIP No. 68212 U 10 4 13D/A Page 10 of 12 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. Dated: May 24, 2007 Commonwealth Associates Liquidation, LLC By: Commonwealth Associates Management Company, Inc., its managing member By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer Commonwealth Associates Management Company, Inc. By: /s/ Cecilio M. Rodriguez ---------------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer ComVest Group Holdings, LLC By: /s/ Cecilio M. Rodriguez ---------------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer ComVest Venture Partners, LP By: ComVest Management, LLC, its general partner By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer CUSIP No. 68212 U 10 4 13D/A Page 11 of 12 Pages ComVest Management, LLC By: ComVest Group Holdings, LLC, its sole member By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer Michael S. Falk ---------------------------------------------------- Michael S. Falk, individually Exhibit 1 AMENDED JOINT FILING AGREEMENT The undersigned hereby consent to the joint filing by any of them of a Statement on Schedule 13D and any amendments thereto, whether heretofore or hereafter filed, relating to the securities of OmniComm Systems, Inc., and hereby affirm that this Schedule 13D is being filed on behalf of each of the undersigned. Dated: May 24, 2007 Commonwealth Associates Liquidation, LLC By: Commonwealth Associates Management Company, Inc., its managing member By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer Commonwealth Associates Management Company, Inc. By: /s/ Cecilio M. Rodriguez ---------------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer ComVest Group Holdings, LLC By: /s/ Cecilio M. Rodriguez ---------------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer ComVest Venture Partners, LP By: ComVest Management, LLC, its general partner By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer ComVest Management, LLC By: ComVest Group Holdings, LLC, its sole member By: /s/ Cecilio M. Rodriguez -------------------------------------------- Name: Cecilio M. Rodriguez Title: Chief Financial Officer Michael S. Falk ---------------------------------------------------- Michael S. Falk, individually -----END PRIVACY-ENHANCED MESSAGE-----