0001144204-12-005378.txt : 20120202 0001144204-12-005378.hdr.sgml : 20120202 20120201182446 ACCESSION NUMBER: 0001144204-12-005378 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120202 DATE AS OF CHANGE: 20120201 GROUP MEMBERS: DAVID GRIN GROUP MEMBERS: EUGENE GRIN GROUP MEMBERS: PSOURCE STRUCTURED DEBT LTD GROUP MEMBERS: VALENS CAPITAL MANAGEMENT, LLC GROUP MEMBERS: VALENS OFFSHORE SPV I, LTD. GROUP MEMBERS: VALENS OFFSHORE SPV II, CORP. GROUP MEMBERS: VALENS U.S. SPV I, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CREATIVE VISTAS INC CENTRAL INDEX KEY: 0001113524 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 860464104 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59453 FILM NUMBER: 12563791 BUSINESS ADDRESS: STREET 1: 4909 EAST MCDOWELL ROAD CITY: PHOENIX STATE: AZ ZIP: 85008 BUSINESS PHONE: 6022250504 MAIL ADDRESS: STREET 1: 4909 EAST MCDOWELL ROAD CITY: PHOENIX STATE: AZ ZIP: 85008 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LAURUS CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001296341 IRS NUMBER: 134150669 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 825 THIRD AVENUE 14TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-541-5800X209 MAIL ADDRESS: STREET 1: 825 THIRD AVENUE 14TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 v300820_sc13ga.txt SCHEDULE 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b) (Amendment No. 4)* CREATIVE VISTAS, INC. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, no par value per share -------------------------------------------------------------------------------- (Title of Class of Securities) 225300201 -------------------------------------------------------------------------------- (CUSIP Number) December 31, 2011 -------------------------------------------------------------------------------- (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. 225300201 Page 2 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): Laurus Capital Management, LLC 13-4150669 -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Delaware -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 3 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): PSource Structured Debt Limited -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Guernsey -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 4 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): Valens U.S. SPV I, LLC 20-8903266 -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Delaware -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% ------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 5 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): Valens Offshore SPV I, Ltd. -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Cayman Islands ------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: o -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 6 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): Valens Offshore SPV II, Corp. 26-0811267 -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Delaware -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% ------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): CO ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- CUSIP No. 225300201 Page 7 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (entities only): Valens Capital Management, LLC 20-8903345 -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Cayman Islands ------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 8 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): David Grin -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States and Israel ------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 9 of 15 Pages -------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons(entities only): Eugene Grin -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) |_| (b) |X| -------------------------------------------------------------------------------- (3) SEC Use Only -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States ------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power: 0 -------------------------------------- (6) Shared Voting Power: 0 -------------------------------------- (7) Sole Dispositive Power: 0 -------------------------------------- (8) Shared Dispositive Power: 0 -------------------------------------- -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 0 -------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): |_| ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 0% -------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions): IN -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 10 of 15 Pages -------------------------------------------------------------------------------- Item 1(a). Name Of Issuer: Creative Vistas, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 4909 East McDowell Road, Phoenix, Arizona 85008 Item 2(a). Name of Person Filing: Laurus Capital Management, LLC. This Schedule 13G is also filed on behalf of PSource Structured Debt Limited, a closed-ended company incorporated with limited liability in Guernsey, Valens U.S. SPV I, LLC, a Delaware limited liability company, Valens Offshore SPV I, Ltd., a Cayman Islands limited company, Valens Offshore SPV II, Corp., a Delaware corporation, Valens Capital Management, LLC, a Delaware limited liability company, Eugene Grin and David Grin. Laurus Capital Management, LLC manages PSource Structured Debt Limited, subject to certain preapproval rights of the board of directors of PSource Structured Debt Limited. Valens Capital Management, LLC manages Valens U.S. SPV I, LLC, Valens Offshore SPV I, Ltd. and Valens Offshore SPV II, Corp. Eugene Grin and David Grin, through other entities, are the controlling principals of Laurus Capital Management, LLC and Valens Capital Management, LLC and share voting and investment power over the securities owned by PSource Structured Debt Limited, Valens U.S. SPV I, LLC, Valens Offshore SPV I, Ltd. and Valens Offshore SPV II, Corp. reported in this Schedule 13G, as amended. Information related to each of PSource Structured Debt Limited, Valens U.S. SPV I, LLC, Valens Offshore SPV I, Ltd., Valens Offshore SPV II, Corp., Valens 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: 875 Third Avenue, 3rd Floor, New York, NY 10022 Item 2(c). Citizenship: Delaware Item 2(d). Title of Class of Securities: Common Stock, no par value per share Item 2(e). CUSIP No.: 225300201 Item 3. Not Applicable. Item 4. Ownership -------------------------------------------------------------------------------- Page 11 of 15 Pages -------------------------------------------------------------------------------- (a) Amount Beneficially Owned: 0 (b) Percent of Class: 0% (c) Number of Shares as to which the person has: i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or L ess of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the owner of more than five percent of the class of securities, check the following: |X| 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. 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. -------------------------------------------------------------------------------- Page 12 of 15 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. January 31, 2012 ---------------- Date Laurus Capital Management, LLC By: /s/ Eugene Grin ----------------------------- Name: Eugene Grin Title: Principal Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) -------------------------------------------------------------------------------- Page 13 of 15 Pages -------------------------------------------------------------------------------- APPENDIX A A. Name: PSource Structured Debt Limited, a closed ended company incorporated with limited liability in Guernsey Address: c/o Laurus Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Place of Organization: Guernsey B. Name: Valens U.S. SPV I, LLC, a Delaware limited liability company Address: c/o Valens Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Place of Organization: Delaware C. Name: Valens Offshore SPV I Ltd., a Cayman Islands limited company Address: c/o Valens Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Place of Organization: Cayman Islands D. Name: Valens Offshore SPV II, Corp., a Delaware corporation Address: c/o Valens Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Place of Organization: Delaware E. Name: Valens Capital Management, LLC, a Delaware limitedliability company Address: 875 Third Avenue, 3rd Floor New York, New York 10022 -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 14 of 15 Pages -------------------------------------------------------------------------------- Place of Organization: Delaware F. Name: David Grin Business Address: c/o Laurus Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Principal Occupation: Principal of Laurus Capital Management, LLC Citizenship: United States and Israel G. Name: Eugene Grin Business Address: c/o Laurus Capital Management, LLC 875 Third Avenue, 3rd Floor New York, New York 10022 Principal Occupation: Principal of Laurus Capital Management, LLC Citizenship: United States -------------------------------------------------------------------------------- CUSIP No. 225300201 Page 14 of 15 Pages -------------------------------------------------------------------------------- Each of PSource Structured Debt Limited, Valens U.S. SPV I, LLC, Valens Offshore SPV I, Ltd., Valens Offshore SPV II, Corp., Valens Capital Management, LLC, David Grin and Eugene Grin hereby agree, by their execution below, that the Schedule 13G to which this Appendix A is attached is filed on behalf of each of them, respectively. PSource Structured Debt Limited By Laurus Capital Management, LLC, as investment manager /s/ Eugene Grin ----------------------------------------- Eugene Grin Authorized Signatory January 31, 2012 Valens U.S. SPV I, LLC Valens Offshore SPV I, Ltd., Valens Offshore SPV II, Corp. Valens Capital Management, LLC By: Valens Capital Management, LLC Individually and as investment manager /s/ Eugene Grin ----------------------------------------- Eugene Grin Authorized Signatory January 31, 2012 /s/ David Grin ----------------------------------------- David Grin, as an individual January 31, 2012 /s/ Eugene Grin ----------------------------------------- Eugene Grin, as an individual January 31, 2012