sc13g

0001035704-08-000248.txt : 20080522 0001035704-08-000248.hdr.sgml : 20080522 20080522172554 ACCESSION NUMBER: 0001035704-08-000248 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080522 DATE AS OF CHANGE: 20080522 GROUP MEMBERS: LACUNA HEDGE GP LLLP GROUP MEMBERS: LACUNA LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MULTIBAND CORP CENTRAL INDEX KEY: 0000732412 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 411255001 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-36987 FILM NUMBER: 08855628 BUSINESS ADDRESS: STREET 1: 9449 SCIENCE CENTER DR CITY: NEW HOPE STATE: MN ZIP: 55428 BUSINESS PHONE: 6125043000 MAIL ADDRESS: STREET 1: 9449 SCIENCE CENTER DRIVE CITY: NEW HOPE STATE: MN ZIP: 55428 FORMER COMPANY: FORMER CONFORMED NAME: MULTIBAND INC DATE OF NAME CHANGE: 20040716 FORMER COMPANY: FORMER CONFORMED NAME: VICOM INC DATE OF NAME CHANGE: 20040709 FORMER COMPANY: FORMER CONFORMED NAME: MULTIBAND INC DATE OF NAME CHANGE: 20040707 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Lacuna Hedge Fund LLLP CENTRAL INDEX KEY: 0001379935 IRS NUMBER: 203982381 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1100 SPRUCE STREET, STE. 202 CITY: BOULDER STATE: CO ZIP: 80302 BUSINESS PHONE: 303-447-1700 MAIL ADDRESS: STREET 1: 1100 SPRUCE STREET, STE. 202 CITY: BOULDER STATE: CO ZIP: 80302 SC 13G 1 d57165sc13g.htm SCHEDULE 13G sc13g

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. )*

MULTIBAND CORPORATION

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

62544X100

(CUSIP Number)

RAWLEIGH RALLS
LACUNA, LLC
1100 SPRUCE STREET, SUITE 202
BOULDER, COLORADO 80302
TELEPHONE: (303) 447-1708

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

MAY 12, 2008

(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)

þ 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).


1	NAME OF REPORTING PERSONS Lacuna Hedge Fund LLLP


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) þ (1)

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware, United States of America

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			506,431 (2)

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH:		8	SHARED DISPOSITIVE POWER

			506,431 (2)

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	506,431 (2)

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.3% (3)

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	PN

(1) This Schedule 13G is filed by Lacuna Hedge Fund LLLP ( “ Lacuna Hedge ” ), Lacuna Hedge GP LLLP (“ Lacuna Hedge GP ” ), and Lacuna, LLC ( “ Lacuna LLC ”, together with Lacuna Hedge and Lacuna Hedge GP, the “ Lacuna Entities ”). The Lacuna Entities expressly disclaim status as a “ group ” for purposes of this Schedule 13G.

(2) These shares are held directly by Lacuna Hedge. Lacuna LLC serves as the sole general partner of Lacuna Hedge GP, which serves as the sole general partner of Lacuna Hedge. Neither Lacuna LLC nor Lacuna Hedge GP directly owns any securities of the Issuer. Lacuna LLC and Lacuna Hedge GP may be deemed to have shared power to vote or direct the vote of, and to dispose or direct the disposition of, the securities of the Issuer held by Lacuna Hedge but disclaim be neficial ownership except to their pecuniary interest therein.

(3) This percentage is calculated based upon 9,489,826 shares of the Issuer’s common stock outstanding as of March 31, 2008, as reported in the Issuer’s Form 10-Q for the period ended March 31, 2008, filed with the Securities and Exchange Commission on May 15, 2008.

Page 2 of 7


1	NAME OF REPORTING PERSONS Lacuna Hedge GP LLLP


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) þ (1)

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware, United States of America

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			506,431 (2)

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH:		8	SHARED DISPOSITIVE POWER

			506,431 (2)

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	506,431 (2)

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.3% (3)

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	PN

(1) This Schedule 13G is filed by Lacuna Hedge Fund LLLP ( “ Lacuna Hedge ” ), Lacuna Hedge GP LLLP ( “ Lacuna Hedge GP ”), and Lacuna, LLC ( “ Lacuna LLC ”, together with Lacuna Hedge and Lacuna Hedge GP, the “ Lacuna Entities ”). The Lacuna Entities expressly disclaim status as a “ group ” for purposes of this Schedule 13G.

Page 3 of 7


1	NAME OF REPORTING PERSONS Lacuna, LLC


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) þ (1)

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware, United States of America

		5	SOLE VOTING POWER

NUMBER OF			0

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			506,431 (2)

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0

WITH:		8	SHARED DISPOSITIVE POWER

			506,431 (2)

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	506,431 (2)

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	5.3% (3)

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

(1) This Schedule 13G is filed by Lacuna Hedge Fund LLLP (“Lacuna Hedge ”), Lacuna Hedge GP LLLP (“Lacuna Hedge GP ”), and Lacuna, LLC (“ Lacuna LLC ”, together with Lacuna Hedge, and Lacuna Hedge GP, the “ Lacuna Entities ”). The Lacuna Entities expressly disclaim status as a “group” for purposes of this Schedule 13G.

Page 4 of 7

Item 1(a) Name of Issuer

Multiband Corporation

Item 1(b) Address of Issuer’s Principal Executive Offices

9449 Science Center Drive
New Hope, Minnesota 55428

Item 2(a) Name of Person Filing

Lacuna Hedge Fund LLLP (“Lacuna Hedge”)
Lacuna Hedge GP LLLP (“Lacuna Hedge GP”)
Lacuna, LLC (“Lacuna LLC”)

Item 2(b) Address of Principal Business Office or, if none, Residence

c/o Lacuna, LLC
1100 Spruce Street, Suite 202
Boulder, Colorado 80302

Item 2(c) Citizenship

Lacuna Hedge and Lacuna Hedge GP are Delaware limited liability limited partnerships. Lacuna LLC is a Delaware limited liability company.

Item 2(d) Title of Class of Securities

Common Stock

Item 2(e) CUSIP Number

62544X100

Item 3 Not applicable.

Item 4 Ownership


	Shares		Sole		Shared		Sole		Shared
	Held		Voting		Voting		Dispositive		Dispositive		Beneficial		Percentage
Lacuna Entity	Directly		Power		Power (1)		Power		Power (1)		Ownership(1)		of Class (2)
Lacuna Hedge Fund LLLP		506,431		0		506,431		0		506,431		506,431		5.3	%

Lacuna Hedge GP LLLP		0		0		506,431		0		506,431		506,431		5.3	%

Lacuna, LLC		0		0		506,431		0		506,431		506,431		5.3	%


(1)		These shares are held directly by Lacuna Hedge. Lacuna LLC serves as the sole general partner of Lacuna Hedge GP, which serves as the sole general partner of Lacuna Hedge. Neither Lacuna LLC nor Lacuna Hedge GP directly owns any securities of the Issuer. Lacuna LLC and Lacuna Hedge GP may be deemed to have shared power to vote or direct the vote of, and to dispose or direct the disposition of, the securities of the Issuer held by Lacuna Hedge but disclaim beneficial ownership except to their pecuniary interest therein.

(2)		This percentage is calculated based upon 9,489,826 shares of the Issuer’s common stock outstanding as of March 31, 2008, as reported in the Issuer’s Form 10-Q for the period ended March 31, 2008, filed with the Securities and Exchange Commission on May 15, 2008.

Page 5 of 7

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 o.

Item 6 Ownership of More than Five Percent 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

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 6 of 7

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.

EXECUTED this 20^th day of May, 2008.


		LACUNA HEDGE FUND LLLP

		By: Lacuna Hedge GP LLLP, its general partner
		By: Lacuna, LLC, its general partner

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director

		LACUNA HEDGE GP LLLP

		By: Lacuna, LLC, its general partner

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director

		LACUNA, LLC

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director

Page 7 of 7

EXHIBIT INDEX


Exhibit No.

99.1		Agreement pursuant to 13d-1(k)(1) among Lacuna Hedge Fund LLLP, Lacuna Hedge GP LLLP, and Lacuna, LLC.

EX-99.1 2 d57165exv99w1.htm AGREEMENT PURSUANT TO 13D-1(K)(1) exv99w1

Exhibit 99.1

AGREEMENT

Pursuant to Rule 13d-1(k)(l) promulgated pursuant to the Securities Exchange Act of 1934, as amended, the undersigned agree that the attached Schedule 13G is being filed on behalf of each of the undersigned.

EXECUTED this 20^th day of May, 2008.


		LACUNA HEDGE FUND LLLP

		By: Lacuna Hedge GP LLLP, its general partner
		By: Lacuna, LLC, its general partner

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director

		LACUNA HEDGE GP LLLP

		By: Lacuna, LLC, its general partner

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director

		LACUNA, LLC

		By:		/s/ Richard O’Leary

				Richard O’Leary, Managing Director