-----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, I+8Nvlt+VD+SZUQPbsy/mtoIPHOtODKQKkir+Ssic3KFcnUoBV5fELCsKDw4F9hW P+krt8YtqDZ18CfYEfybJA== 0000950138-06-000858.txt : 20061117 0000950138-06-000858.hdr.sgml : 20061117 20061117121232 ACCESSION NUMBER: 0000950138-06-000858 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20061117 DATE AS OF CHANGE: 20061117 GROUP MEMBERS: BARRY M. KITT SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Veri-Tek International, Corp. CENTRAL INDEX KEY: 0001302028 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 421628978 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-80569 FILM NUMBER: 061225642 BUSINESS ADDRESS: STREET 1: 50120 PONTIAC TRAIL CITY: WIXOM STATE: MI ZIP: 48393 BUSINESS PHONE: 248-560-1000 MAIL ADDRESS: STREET 1: 50120 PONTIAC TRAIL CITY: WIXOM STATE: MI ZIP: 48393 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE FUND L P CENTRAL INDEX KEY: 0000915861 IRS NUMBER: 752512784 STATE OF INCORPORATION: TX FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 12900 PRESTON RD STE 420 CITY: DALLAS STATE: TX ZIP: 75230 SC 13G 1 nov_13g-veritek.htm PINNACLE FUND\NOV 13G-VERITEK

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN THE STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)

(Amendment No. ___)*

Veri-Tek International, Corp.

(Name of Issuer)

Common Stock, no par value per share

(Title of Class of Securities)

92342X101

(CUSIP Number)

 

November 15, 2006

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

o

Rule 13d-1(b)

 

x

Rule 13d-1(c)

 

o

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).

 

SCHEDULE 13G

CUSIP NO. 92342X101

Page 2 of 6

 

 

 

 

 

1

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

The Pinnacle Fund, L.P., a Texas limited partnership

75-2512784

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

(a)

o

 

 

(b)

x

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Texas

NUMBER OF

 

SHARES

 

BENEFICIALLY

 

OWNED BY EACH

 

REPORTING

 

PERSON WITH

 

5

SOLE VOTING POWER

 

693,000 shares of Common Stock

 

6

SHARED VOTING POWER

 

0

 

7

SOLE DISPOSITIVE POWER

 

693,000 shares of Common Stock

 

8

SHARED DISPOSITIVE POWER


0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

693,000 shares of Common Stock

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                                                                                       x

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

8.6% (See Item 4)

 

12

TYPE OF REPORTING PERSON

 

PN

SCHEDULE 13G

CUSIP NO. 92342X101

Page 3 of 6

 

 

 

 

 

1

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

Barry M. Kitt

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

(a)

o

 

 

(b)

x

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

NUMBER OF

 

SHARES

 

BENEFICIALLY

 

OWNED BY EACH

 

REPORTING

 

PERSON WITH

 

5

SOLE VOTING POWER

 

693,000 shares of Common Stock

 

6

SHARED VOTING POWER

 

0

 

7

SOLE DISPOSITIVE POWER

 

693,000 shares of Common Stock

 

8

SHARED DISPOSITIVE POWER


0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

693,000shares of Common Stock

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                                                                                             o

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

8.6% (See Item 4)

 

12

TYPE OF REPORTING PERSON

 

IN

 

SCHEDULE 13G

CUSIP NO. 92342X101

Page 4 of 6

 

 

Item 1(a).

Name of Issuer:

Veri-Tek International, Corp. (the "Issuer")

Item 1(b).

Address of Issuer’s Principal Executive Offices:

50120 Pontiac Trail

Wixom, MI 48393

 

Items 2(a),

(b) and (c).

Name of Persons Filing, Address of Principal Business Office and

Citizenship:

This Schedule 13G is being filed on behalf of The Pinnacle Fund, L.P. and Barry M. Kitt, as joint filers (collectively, the “Reporting Persons”).

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which the Reporting Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office of the Reporting Persons is 4965 Preston Park Blvd., Suite 240, Plano, TX 75093. For citizenship, see Item 4 of each cover page.

Item 2(d).

Title of Class of Securities:

Common Stock, no par value per share (the “Common Stock”)

Item 2(e).

CUSIP Number:

92342X101 

Item 3.

Not applicable

Item 4.

Ownership.

 

 

(a)

Amount beneficially owned:

 

693,000 shares of Common Stock*

 

 

(b)

Percent of class:

 

Based on 5,109,875 shares of Common Stock of the Issuer outstanding as of November 13, 2006, as indicated in the Issuer’s Form 10-Q for the period ended September 30, 2006, 2,750,000 shares of Common Stock of the Issuer issued in connection with the Issuer’s private placement (as set forth in the Issuer’s current report on Form 8-K, filed on November 6, 2006) and 198,000 shares of Common Stock issuable upon the exercise of warrants held by the Reporting Persons, the Reporting Persons hold approximately 8.6%* of the Common Stock of the Issuer.

SCHEDULE 13G

CUSIP NO. 92342X101

Page 5 of 6

 

 

 

 

(c)

Number of shares to which such person has:

   

 

(i)

Sole power to vote or direct the vote: 693,000 shares of Common Stock*

   

 

(ii)

Shared power to vote or direct the vote: 0

   

 

(iii)

Sole power to dispose or to direct the disposition of: 693,000 shares of Common Stock*

   

 

(iv)

Shared power to dispose of or direct the disposition of: 0

 

*This statement is filed on behalf of The Pinnacle Fund, L.P. (“Pinnacle”) and Barry M. Kitt. Pinnacle Advisers, L.P. (“Advisers”) is the general partner of Pinnacle. Pinnacle Fund Management, LLC (“Management”) is the general partner of Advisers. Mr. Kitt is the sole member of Management. As of November 17, 2006, Pinnacle was the beneficial owner of 693,000 shares of Common Stock. Of such 693,000 shares of Common Stock beneficially owned, 198,000 shares of Common Stock are issuable upon the exercise of warrants held by the Reporting Persons. Mr. Kitt may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Pinnacle. Mr. Kitt expressly disclaims beneficial ownership of all shares of Common Stock beneficially owned by Pinnacle.

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

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported By the Parent Holding Company.

Not applicable

Item 8.

Identification and Classification of Members of the Group.

Not applicable

Item 9.

Notice of Dissolution of a Group.

Not applicable

SCHEDULE 13G

CUSIP NO. 92342X101

Page 6 of 6

 

 

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.

SCHEDULE 13G

CUSIP NO. 92342X101

Page 7 of 6

 

 

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:

November 17, 2006

 

THE PINNACLE FUND, L.P.

 

By:

Pinnacle Advisers, L.P., its general partner

 

By:

Pinnacle Fund Management, LLC, its general partner

 

 

By:

/s/ Barry M. Kitt

Barry M. Kitt, its manager

 

 

/s/ Barry M. Kitt

Barry M. Kitt

SCHEDULE 13G

CUSIP NO. 92342X101

 

Exhibit 1

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to 693,000 shares of Common Stock of Veri-Tek International, Corp. and further agree that this Joint Filing Agreement shall be included as an exhibit to such joint filings.

The undersigned further agree that each party hereto is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; provided, however, that no party is responsible for the completeness or accuracy of the information concerning any other party making the filing, unless such party knows or has reason to believe that such information is inaccurate.

IN WITNESS WHEREOF, the parties have executed this Joint Filing Agreement on November 17, 2006.

THE PINNACLE FUND, L.P.

 

By:

Pinnacle Advisers, L.P., its general partner

 

By:

Pinnacle Fund Management, LLC, its general partner

 

 

By:

/s/ Barry M. Kitt

Barry M. Kitt, its manager

 

 

/s/ Barry M. Kitt

Barry M. Kitt

 

 

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