CUSIP No. 419596-20-0 | 13D | Page 2 of 5 Pages |
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1
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NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Gene E. Burleson
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) o
(b) x |
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS PF
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) o
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING PERSON WITH:
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7
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SOLE VOTING POWER
1,028,535*
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8
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SHARED VOTING POWER
0
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9
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SOLE DISPOSITIVE POWER
1,028,535*
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10
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SHARED DISPOSITIVE POWER
0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,028,535*
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES o
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%**
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14
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TYPE OF REPORTING PERSON
IN
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Item 1.
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Security and Issuer
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Item 2.
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Identity and Background.
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(a)
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The name of the person filing this Schedule 13D is Gene E. Burleson.
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(b)
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The business address of Mr. Burleson is 8500 Wilshire Boulevard, Suite 105, Beverly Hills, California 90211.
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(c)
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Mr. Burleson’s principal occupation is as a director of the Company and SunLink Health Systems, Inc., an owner and operator of acute care hospitals. The principal business address of SunLink Health Systems, Inc. is 900 Circle 75 Parkway, Suite 1120, Atlanta, Georgia 30339.
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(d)
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and (e): During the past five years, Mr. Burleson has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) nor has he been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which resulted in his being 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 violation with respect to such laws.
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(f)
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Mr. Burleson is a citizen of the United States of America.
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Item 3.
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Source and Amount of Funds or Other Consideration.
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Item 4.
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Purpose of Transaction.
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(a)
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Mr. Burleson has no present plans or proposals that relate to or would result in the acquisition or disposition of shares of the Company’s Common Stock.
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(b)
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Mr. Burleson has no present plans or proposals that relate to or would result in an extraordinary corporate transaction involving the Company.
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(c)
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Mr. Burleson has no present plans or proposals that relate to or would result in a sale or transfer of a material amount of the Company’s or any of its subsidiaries’ assets.
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(d)
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Mr. Burleson has no present plans or proposals that relate to or would result in any changes in composition of the Company’s present board of directors or management.
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(e)
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Mr. Burleson has no present plans or proposals that relate to or would result in any changes in the Company’s present capitalization or dividend policy.
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(f)
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Mr. Burleson has no present plans or proposals that relate to or would result in any other material change in the Company’s business or corporate structure.
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(g)
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Mr. Burleson has no present plans or proposals that relate to or would result in changes in the Company’s charter, bylaws or other governing instruments which may impede the acquisition of control of the Company by any person.
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(h)
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Mr. Burleson has no present plans or proposals that relate to or would result in causing any of the Company’s securities to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association.
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(i)
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Mr. Burleson has no present plans or proposals that relate to or would result in a class of securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended.
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(j)
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Mr. Burleson has no present plans or proposals that relate to or would result in any action similar to any of those enumerated above.
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Item 5.
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Interest in Securities of the Issuer.
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(a)
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Mr. Burleson beneficially owns an aggregate 1,028,535 shares or 6.6% of the Common Stock of the Company. For further information, see the cover pages hereto which are hereby incorporated by reference. All percentages of outstanding Common Stock are calculated based on information included in the Form 10-Q filed by the Company for the period ended March 31, 2012, which reported that 15,333,909 shares of Common Stock were outstanding as of April 30, 2012.
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(b)
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Mr. Burleson holds sole voting and dispositive power with respect to all 1,028,535 shares held by him.
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(c)
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On May 31, 2012, Mr. Burleson acquired (i) $100,000 in secured senior convertible promissory notes, which are convertible into 166,666 shares of the Company’s Common Stock at a conversion price of $0.60 per share, and (ii) warrants to purchase 125,000 shares of the Company’s Common Stock with an exercise price of $0.75 per share, all pursuant to a private placement conducted by the Company.
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(d)
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Not applicable.
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(e)
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Not applicable.
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Item 6.
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Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
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Item 7.
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Material to be Filed as Exhibits.
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June 8, 2012 | GENE E. BURLESON | ||
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By:
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/s/ Gene E. Burleson | |
Gene E. Burleson |