0001144204-13-065645.txt : 20131205 0001144204-13-065645.hdr.sgml : 20131205 20131204180021 ACCESSION NUMBER: 0001144204-13-065645 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20131205 DATE AS OF CHANGE: 20131204 GROUP MEMBERS: BRENDAN T. O'NEIL GROUP MEMBERS: IRONRIDGE GLOBAL PARTNERS, LLC GROUP MEMBERS: JOHN C. KIRKLAND GROUP MEMBERS: KEITH COULSTON GROUP MEMBERS: RICHARD H. KREGER SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Green Automotive Co CENTRAL INDEX KEY: 0001497632 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 223680581 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-85732 FILM NUMBER: 131258282 BUSINESS ADDRESS: STREET 1: 23 CORPORATE PLACE STREET 2: SUITE 150 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 877-449-8842 MAIL ADDRESS: STREET 1: 23 CORPORATE PLACE STREET 2: SUITE 150 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 FORMER COMPANY: FORMER CONFORMED NAME: Matter of Time I Co. DATE OF NAME CHANGE: 20100728 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Ironridge Global IV, Ltd. CENTRAL INDEX KEY: 0001512103 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: HARBOUR HOUSE, WATERFRONT DRIVE STREET 2: P.O. BOX 972 CITY: ROAD TOWN, TORTOLA STATE: D8 ZIP: VG1110 BUSINESS PHONE: 284 949 4770 MAIL ADDRESS: STREET 1: HARBOUR HOUSE, WATERFRONT DRIVE STREET 2: P.O. BOX 972 CITY: ROAD TOWN, TORTOLA STATE: D8 ZIP: VG1110 SC 13G 1 v362152_sc13g.htm FORM SC 13G

 

United states

Securities and exchange commission

WashinGton, d.c. 20549

 

Schedule 13G

Under the securities exchange act of 1934

 

GREEN AUTOMOTIVE COMPANY

(Name of Issuer)

 

Common Stock

(Title of Class of Securities)

 

39260A100

(CUSIP Number)

 

December 4, 2013

(Date of Event which requires filing of this Statement)

 

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

 

qRule 13d-1(b)
þRule 13d-1(c)
qRule 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 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).

 

 
 

 

1. NAME OF REPORTING PERSON      
         
  Ironridge Global IV, Ltd.      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      
      (a) ¨
      (b) ¨
3. SEC USE ONLY      
         
4. CITIZENSHIP OR PLACE OF ORGANIZATION      
         
  British Virgin Islands      
         
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0      
         
7. SOLE DISPOSITIVE POWER      
         
  2,109,640* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  2,109,640* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0.5%* (See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  OO      

  

* Subject to adjustment. (See Item 4)

 

 
 

  

1. NAME OF REPORTING PERSON      
         
  Ironridge Global Partners, LLC      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
  27-4741201      
         
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0* (See Item 4)      
         
7. SOLE DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  0* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0* (See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  HC      

  

*Excludes shares owned by Ironridge Global IV, Ltd. (See Item 4)

 

 
 

 

1. NAME OF REPORTING PERSON      
         
  John C. Kirkland      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0* (See Item 4)      
         
7. SOLE DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  0* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0%*(See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  IN      

 

* Excludes shares owned by Ironridge Global IV, Ltd. (See Item 4)

 

 
 

 

1. NAME OF REPORTING PERSON      
         
  Brendan T. O’Neil      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0* (See Item 4)      
         
7. SOLE DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  0* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0%* (See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  IN      

  

* Excludes shares owned by Ironridge Global IV, Ltd. (See Item 4)

 

 
 

 

1. NAME OF REPORTING PERSON      
         
  Richard H. Kreger      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0* (See Item 4)      
         
7. SOLE DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  0* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0%* (See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  IN      

 

* Excludes shares owned by Ironridge Global IV, Ltd. (See Item 4)

 

 
 

 

1. NAME OF REPORTING PERSON      
         
  Keith Coulston      
         
  IRS IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)      
         
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
         
5. SOLE VOTING POWER      
         
  0* (See Item 4)        
         
6. SHARED VOTING POWER      
         
  0* (See Item 4)      
         
7. SOLE DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
8. SHARED DISPOSITIVE POWER      
         
  0* (See Item 4)      
         
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON      
         
  0* (See Item 4)      
         
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES: ¨      
         
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:      
         
  0%* (See Item 4)      
         
12. TYPE OF REPORTING PERSON      
         
  IN      

 

* Excludes shares owned by Ironridge Global IV, Ltd. (See Item 4)

 

 
 

 

ITEM 1 (a) Name of Issuer:
     
    Green Automotive Company
     
  (b) Address of Issuer’s Principal Executive Offices:
     
    23 Corporate Place, Suite 150
    Newport Beach, California  92660
     
ITEM 2 (a) Name of Person Filing:
     
    This statement is filed by Ironridge Global IV, Ltd. (“IV”) with respect to shares of common stock beneficially owned by IV, and by Ironridge Global Partners, LLC (“IGP”) and IGP’s managing members John C. Kirkland, Brendan T. O’Neil, Richard H. Kreger and Keith Coulston with respect to the shares that may be obtained by IV.  
     
  (b) Address of Principal Business Office, or, if None, Residence:
     
    The address of the principal business office of IV is:  
     
    Harbour House, 2nd Floor
    Waterfront Drive
    Road Town, Tortola, British Virgin Islands  VG1110
     
    The address of the principal business office of IGP and Messrs. O’Neil and Coulston is:  
     
    One Montgomery Tower
    1 Montgomery Street, Suite 2575
    San Francisco, California  94104-4505
     
    The address of the principal business office of Mr. Kirkland is:
     
    Palisades Village Center
    881 Alma Real Drive, Suite 305
    Los Angeles, California  90272-3731
     
    The address of the principal business office of Mr. Kreger is:  
     
    Chrysler Building
    405 Lexington Avenue, 26th Floor
    New York, New York  10174-2699
     
  (c) Citizenship:
     
    IV is a British Virgin Islands business company.
    IGP is a Delaware limited liability company.
    Messrs. Kirkland, O’Neil, Kreger and Coulston are United States citizens.
     
  (d) Title of Class of Securities:
     
    Common Stock
     
  (e) CUSIP Number:
     
    39260A100

 

 
 

 

ITEM 3: If this Statement if Filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:

  

  q a. Broker or dealer registered under Section 15 of the Exchange Act.
  q b. Bank as defined in Section 3(a)(6) of the Exchange Act.
  q c. Insurance company as defined in Section 3(a)(19) of the Exchange Act.
  q d. Investment company registered under Section 8 of the Investment
      Company Act.
  q e. An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
  q f. An employee benefit plan or endowment fund in accordance with
      Rule 13d-1(b)(1)(ii)(F)
  q g. A parent holding company or control person in accordance with Rule
      13d-1(b)(1)(ii)(G)
  q h. A savings association as defined in Section 3(b) of the Federal Deposit
      Insurance Act
  q i. A church plan that is excluded from the definition of an investment
      company under Section 3(c)(14) of the Investment Company Act
  q j. Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

 

ITEM 4: Ownership
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

  

  (a) Amount beneficially owned:  See item 9 of cover pages.
   
  (b) Percent of class:  See item 11 of cover pages.
   
  (c) Number of shares as to which such person has:
   
    (i) Sole power to vote or to direct the vote:
   
    (ii) Shared power to vote or to direct the vote:
   
    (iii) Sole power to dispose or to direct the disposition of:
   
    (iv) Shared power to dispose or to direct the disposition of:

 

See items 5-8 of cover pages.

 

On December 4, 2013, IV and the issuer settled $545,409 in accounts payable of the issuer, in exchange for shares of common stock of the issuer following a Section 3(a)(10) fairness hearing. The payables were owned by IV, which previously agreed to purchase them from vendors of the issuer in exchange for cash payment of the full amount owed.

 

Pursuant to an order approving stipulation for settlement of claims between IV and the issuer, IV is entitled to receive that number of shares with an aggregate value equal to the claim amount plus a 7% third party agent fee and reasonable attorney fees, divided by 80% of the following: the closing price of the issuer’s common stock on the date prior to entry of the order, not to exceed the arithmetic average of the volume weighted average prices of any five trading days during a period equal to that number of consecutive trading days following the date of initial receipt of shares required for the aggregate trading volume to exceed $6 million, less $0.02 per share, as reported by the Bloomberg Professional service of Bloomberg LP.

 

IV is prohibited from receiving any shares of common stock that would cause it to be deemed to beneficially own more than 9.99% of the issuer’s total outstanding shares at any one time. IV received an initial issuance of 7,700,000 common shares, and may be required to return or be entitled to receive shares, based on the calculation summarized in the prior paragraph. Based on the $0.383 per share closing price on the day before the settlement, IV would be entitled to 2,109,640 shares. For purposes of calculating the percent of class, the reporting persons have assumed that there were 396,132,391 shares of common stock outstanding immediately prior to the issuance of shares to IV, such that 2,109,640 shares issued to IV would represent approximately 0.5% of the outstanding common stock after such issuance.

 

 
 

 

In connection with the transaction, IV agreed not to hold any short position in the issuer’s common stock, and not to engage in or effect, directly or indirectly, any short sale until at least 180 days after the end of the calculation period.

 

IV is not a registered broker-dealer or an affiliate of a registered broker-dealer. Voting and dispositive power with respect to shares of common stock owned by IV is exercised by David Sims, Director. However, for so long as IV holds any shares, it is prohibited from, among other actions: (1) voting any shares of issuer common stock owned or controlled by them, exercising any dissenter’s rights, executing or soliciting any proxies or seeking to advise or influence any person with respect to any voting securities of the issuer; (2) engaging or participating in any actions or plans that relate to or would result in, among other things, (a) acquiring additional securities of the issuer, alone or together with any other person, which would result in them collectively beneficially owning or controlling, or being deemed to beneficially own or control, more than 9.99% of the total outstanding common stock or other voting securities of the issuer, (b) an extraordinary corporate transaction such as a merger, reorganization or liquidation, (c) a sale or transfer of a material amount of assets, (d) changes in the present board of directors or management of the issuer, (e) material changes in the capitalization or dividend policy of the issuer, (f) any other material change in the issuer’s business or corporate structure, (g) actions which may impede the acquisition of control of the issuer by any person or entity, (h) causing a class of securities of the issuer to be delisted, (i) causing a class of equity securities of the issuer to become eligible for termination of registration; or (3) any actions similar to the foregoing.

 

Each of IGP and Messrs. Kirkland, O’Neil, Kreger and Coulston disclaims beneficial ownership or control of any of the securities covered by this statement. IGP and Messrs. Kirkland, O’Neil, Kreger and Coulston directly own no shares of the issuer. However, by reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, IGP or Messrs. Kirkland, O’Neil, Kreger and Coulston may be deemed to beneficially own or control the shares owned by IV. Messrs. Kirkland, O’Neil and Kreger are each managing directors, members and 30% beneficial owners of IGP. Mr. Coulston is a director, member and 10% beneficial owner of IGP. IGP is a stockholder and beneficial owner of IV.

  

ITEM 5:Ownership of Five Percent or Less 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 beneficial owner of more than five percent of the class of securities check the following box: q

 

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.

 

See Exhibit 1.

 

ITEM 8:Identification and Classification of Members of the Group.

 

Not Applicable.

 

 
 

 

ITEM 9:Notice of Dissolution of Group.

 

Not Applicable.

 

ITEM 10:Certifications.

 

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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 such purpose or effect.

   

SIGNATURES

 

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: December 4, 2013 IRONRIDGE GLOBAL IV, LTD.
   
  By:  /s/ David Sims
  Name: David Sims
  Its: Director

  

  IRONRIDGE GLOBAL PARTNERS, LLC
   
  By:  /s/ John Kirkland
  Name: John Kirkland
  Its: Managing Director

 

  /s/ John C. Kirkland
  John C. Kirkland

 

  /s/ Brendan T. O’Neil
  Brendan T. O’Neil

 

  /s/ Richard H. Kreger
  Richard H. Kreger

 

  /s/ Keith Coulston
  Keith Coulston

 

 
 

 

EXHIBIT INDEX TO SCHEDULE 13G

 

EXHIBIT 1

 

Exhibit Stating Identity of Relevant Subsidiary per Item 7 of Schedule 13G.

 

EXHIBIT 2

 

Joint Filing Agreement among Ironridge Global IV, Ltd., Ironridge Global Partners, LLC, John C. Kirkland, Brendan T. O’Neil, Richard H. Kreger and Keith Coulston.

 

 
 

  

Exhibit 1

 

Ironridge Global IV, Ltd. is a subsidiary of Ironridge Global Partners, LLC.

 

 
 

  

Exhibit 2

 

 

JOINT FILING AGREEMENT

 

This Joint Filing Agreement, entered into and effective as of the date first set forth below, is made by and among Ironridge Global IV, Ltd., a British Virgin Islands business company, Ironridge Global Partners, LLC, a Delaware limited liability company, John C. Kirkland, Brendan T. O’Neil, Richard H. Kreger and Keith Coulston pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

 

 Each of the filers hereby acknowledges and agrees that the foregoing statement on Schedule 13G is filed on behalf of each of the filers and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the filers without the necessity of filing additional joint filing agreements. Each filer acknowledges that such filer shall be responsible for the timely filing of such amendments and for the completeness and accuracy of the information concerning such filer contained therein, but shall not be responsible for the completeness and accuracy of the information concerning any of the other filers, except to the extent that such filer knows or has reason to believe that such information is inaccurate.

 

This Joint Filing Agreement may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument.

 

This Joint Filing Agreement may be terminated by any of the filers upon written notice to the other filers.

 

Dated: December 4, 2013 IRONRIDGE GLOBAL IV, LTD.
   
  By:  /s/ David Sims
  Name: David Sims
  Its: Director

  

  IRONRIDGE GLOBAL PARTNERS, LLC
   
  By:  /s/ John Kirkland
  Name: John Kirkland
  Its: Managing Director

 

  /s/ John C. Kirkland
  John C. Kirkland

 

  /s/ Brendan T. O’Neil
  Brendan T. O’Neil

 

  /s/ Richard H. Kreger
  Richard H. Kreger

 

  /s/ Keith Coulston
  Keith Coulston