-----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, KdSLiVQfRfGETUJ1kzmVr38IZHjoTuqzrPB4UdJTzaZRXHF52YuLPHsgQzDHWFf4 RlepgW8AKq2qT0e1rXv4mw== 0001013762-05-001242.txt : 20050923 0001013762-05-001242.hdr.sgml : 20050923 20050923151722 ACCESSION NUMBER: 0001013762-05-001242 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050923 DATE AS OF CHANGE: 20050923 GROUP MEMBERS: FARWELL EQUITY PARTNERS, LLC GROUP MEMBERS: FOREST HOME INVESTORS I, LLC GROUP MEMBERS: IRREVOCABLE CHILDREN'S TRUST GROUP MEMBERS: IRREVOCABLE CHILDREN'S TRUST NO.2 GROUP MEMBERS: OHIO INVESTORS OF WISCONSIN GROUP MEMBERS: PHOENIX BUSINESS TRUST GROUP MEMBERS: PHOENIX INVESTORS LLC FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MARKS DAVID M CENTRAL INDEX KEY: 0001196126 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: BUSINESS PHONE: 4142832600 MAIL ADDRESS: STREET 1: 1818 NORTH FARWELL AVENUE CITY: MILWAUKEE STATE: WI ZIP: 53202 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VENTURES NATIONAL INC CENTRAL INDEX KEY: 0000770471 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 870433444 STATE OF INCORPORATION: UT FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78456 FILM NUMBER: 051100428 BUSINESS ADDRESS: STREET 1: 5525 SOUTH 900 EAST STREET 2: #110 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 BUSINESS PHONE: 8133281002 MAIL ADDRESS: STREET 1: 5525 SOUTH 900 EAST STREET 2: #110 CITY: SALT LAKE CITY STATE: UT ZIP: 84117 SC 13D/A 1 sept22200513d.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A (Amendment No. 4) Under the Securities Exchange Act of 1934 VENTURES-NATIONAL INCORPORATED (Name of Issuer) Common Stock, Par Value $0.001 Per Share (Title of Class of Securities) 888278 10 8 (CUSIP Number) David M. Marks c/o Phoenix Investors, LLC 1818 North Farwell Avenue Milwaukee, WI 53202 (414) 283-2600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copies to: Thomas Rose, Esq. Sichenzia Ross Friedman Ference LLP 1065 Avenue of the Americas, 21st Floor New York, New York 10018 Tel: (212) 930-9700 Fax: (212) 930-9725 August 12, 2005 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other parties to whom copies are to be sent. *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 disclosures provided in a prior cover page. The information required on 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
SCHEDULE 13D - --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 2 OF 16 PAGES - ---------- ---------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) David M. Marks - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ------------------------------------------------- -------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -84,718,935- (1) OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -84,718,935- (1) 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -84,718,935- (1) - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 83.54 % - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
_______________________ 1 Mr. Marks has sole voting and dispositive power over the shares of the Company held by Farwell Equity Partners, LLC, Irrevocable Children's Trust, Irrevocable Children's Trust 2, Phoenix Business Trust, Forest Home Partners I, LLC, Ohio Investors of Wisconsin, and Phoenix Investors LLC. SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 3 OF 16 PAGES - --------------------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Farwell Equity Partners, LLC - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ---------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -71,833,333- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -71,833-333- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -71,833,333- - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 70.89% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 4 OF 16 PAGES - --------------------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Irrevocable Children's Trust - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ---------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ----------------------------------------------------------------------------- ---------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -10,969,522- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -10,969-522- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -10,969,522- - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.83% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 5 OF 16 PAGES - --------------------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Irrevocable Children's Trust No.2 - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ---------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -72,232- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -72,232- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -72,232- - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.07% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 6 OF 16 PAGES - --------------------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Phoenix Business Trust - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ---------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -123,823- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -123,823- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -123,823- - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.12% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 7 OF 16 PAGES - ---------- ---------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Forest Home Investors I, LLC - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ------------------------------------------------- -------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -6,667- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -6,667- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0- - -------- ------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.01% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 8 OF 16 PAGES - --------------------------------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Ohio Investors of Wisconsin - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ------------------------------------------------- -------------------------------------------------------------- 3 SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin - ------------------------------- ---------- -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -1,190,779- OWNED BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER -1,190,779- 10 SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -1,190,779- - -------- ----------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.18% - -------- ------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
SCHEDULE 13D
- --------------------------------------------------------------------------------------------------------------------------- CUSIP NO. 888278 10 8 PAGE 9 OF 16 PAGES - ------------------------------------------------------------ -------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Phoenix Investors LLC - ---------- ---------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (SEE INSTRUCTIONS) (B) [ ] - ---------- ------------------------------------------------- -------------------------------------------------------------- 3. SEC USE ONLY - ---------- ---------------------------------------------------------------------------------------------------------------- 4. SOURCE OF FUNDS (SEE INSTRUCTIONS) OO - ---------- ---------------------------------------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS [ ] 2(D) OR 2(E) - ---------- ---------------------------------------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin - ------------------------------- ---------- -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY -347,579- OWNED BY EACH REPORTING PERSON WITH 8. SHARED VOTING POWER -0- 9. SOLE DISPOSITIVE POWER -347,579- 10. SHARED DISPOSITIVE POWER -0- - -------- ------------------------------------------------------------------------------------------------------------------ 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -347.579- - -------- ------------------------------------------------------------------------------------------------------------------ 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ] SHARES (SEE INSTRUCTIONS) - -------- ------------------------------------------------------------------------------------------------------------------ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.34% - -------- ------------------------------------------------------------------------------------------------------------------ 14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO
Page 10 0f 16 Pages This Amendment No. 4 to Schedule 13D modifies and supplements the Schedule 13D (this "Schedule 13D") initially filed with the Securities and Exchange Commission on October 4, 2002, as amended by Amendment No. 1, filed with the Securities and Exchange Commission on December 9, 2002; by Amendment No. 2, filed with the Securities Exchange Commission on May 7, 2003, and Amendment No. 3 filed with the Securities and Exchange Commission on September 15, 2003 jointly filed by David Marks ("Mr. Marks"), Irrevocable Children's Trust, a Wisconsin trust ("ICT"), Phoenix Business Trust, a Delaware business trust ("Phoenix Trust"), Forest Home Investors I, LLC, a Wisconsin limited liability company ("Forest Home"), and Irrevocable Children's Trust No. 2, a Wisconsin trust ("ICT2" and together with ICT, the "Trusts") (each a "Reporting Person" and collectively the "Reporting Persons"); and by . Except to the extent supplemented by the information contained in this Amendment No. 4, the Statement, as amended as provided herein, remains in full force and effect. Capitalized terms used herein without definition have the respective meanings ascribed to them in the Statement. ITEM 1. SECURITY AND ISSUER This Statement relates to the Common Stock, par value $.001 per share (the "Common Stock") of Ventures-National Incorporated., a corporation organized and existing under the laws of the State of Utah (the "Company"). The address of the principal executive office of the Company is 44358 Old Warm Springs Boulevard, Fremont, CA 94538. Item 2. Identity and Background (a, b, c and f) This Statement is jointly filed by (i) David M. Marks, a U.S. citizen ("Marks"); (ii) Farwell Equity Partners, LLC, a Delaware limited liability company ("Farwell"); (iii) Irrevocable Children's Trust, a Wisconsin trust ("ICT"); (iv) Irrevocable Children's Trust No.2, a Wisconsin trust ("ICT2"); (v) Phoenix Business Trust, a Delaware business trust ("Phoenix Trust"); (vi) Forest Home Investors I, LLC, a Wisconsin limited liability company ("Forest Home"); (vii) Ohio Investors of Wisconsin, LLC, a Wisconsin limited liability company ("Ohio Investors"); and (viii) Phoenix Investors LLC, a Wisconsin limited liability company ("Phoenix Investors") (hereinafter referred to individually as "Reporting Person" and collectively as the "Reporting Persons"). Mr. Marks serves as co-Trustee of ICT and as the sole Trustee of ICT2 (collectively, the "Trusts"). The Trusts currently have an ownership or investment interest in, investment ventures including commercial properties, private residences, natural resources, telecommunications, and technology companies, and other miscellaneous business and investment ventures. Phoenix Investors, Phoenix Trust, Forest Home and Ohio Investors are principally engaged in the business of real estate and investing. Farwell is principally engaged in the business of investing. Approximately ninety five percent of the membership units of Farwell are owned by Frank Crivello. Mr. Marks owns approximately five percent of the membership units of Farewell and is the Managing Member of Farwell. Mr. Marks has sole voting and dispositive power of the shares of Farwell, ICT, ICT2, Phoenix Trust, Forest Home, Ohio Investors and Phoenix Investors. Mr. Marks also has sole voting and dispositive power of 175,000 shares of common stock which are issued in his name, which includes 75,000 shares of common stock issuable to Mr. Marks upon exercise of currently exercisable options. The business address of the Reporting Persons is c/o Phoenix Investors, LLC, 1818 North Farwell Avenue, Milwaukee, WI 53202. (d and e) During the last five years, none of the Reporting Persons has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. On July 28, 2005, Farwell exercised its right to convert $700,000 of the amount it is owed by the Company under a Convertible Note, into 5,833,333 shares of the Company. The Convertible Note was assigned to Farwell by Frank Crivello. On July 28, 2005, Farwell entered into an Asset Purchase Agreement (the " Purchase Agreement") with Oblio Telecom, Inc. ("Oblio"), a wholly owned subsidiary of Farwell, Oblio Telecom L.L.P., a Texas limited liability partnership ("Oblio Texas"), and Sammy Jibrin and Radu Achiriloaie, the sole owners of Oblio Texas. The Purchase Agreement provided for the acquisition by Oblio of substantially all of Oblio Texas' assets, in total consideration of $30,500,000, consisting of $19,000,000 in cash, the issuance of 9,000,000 shares of Oblio's Series A Cumulative Convertible Preferred Stock, and the issuance of an 18-month promissory note in the principal amount of $2,500,000. In addition, the Company issued to Sammy Jibrin and Radu Achiriloaie, 375,000 shares of our common stock, par value $0.001. On the closing of the Purchase Agreement on August 12, 2005, the Company acquired all of the issued and outstanding shares of common stock of Oblio from Farwell Equity Partners in consideration of the issuance of 66,000,000 shares of our common stock. Page 11 of 16 Pages Item 4. Purpose of Transaction Depending on market conditions and other factors, the Reporting Persons may purchase additional shares of Common Stock in the open market or in private transactions. Subject to the availability of Common Stock at prices deemed favorable by the Reporting Persons, the Reporting Persons' liquidity, the financial condition and results of operations of the Company, and general economic and market conditions prevailing at the time, the Reporting Persons reserve the right to, and may in the future, purchase additional shares of Common Stock from time to time in the open market, through privately negotiated transactions, or otherwise. Except as set forth above, the Reporting Persons do not have a plan or proposal which relates to or would result in: (a) The acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) An extraordinary corporate transaction such as a merger, reorganization or liquidation involving the Company or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) Any change in the present Board of Directors or management of the Company, including any plans or proposals to change the number of or term of Directors or to fill any existing vacancies on the Board; (e) Any material change in the present capitalization or dividend policy of the Company; (f) Any other material change in the Company's business or corporate structure; (g) Changes in the Company's charter, by-laws, or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) Causing the Common Stock to cease to be authorized to be traded on the Nasdaq National Stock Market. (i) To have the Common Stock terminated from registration under the Securities Act of 1933; or (j) Any action similar to any of those enumerated above. ITEM 5. INTEREST IN THE SECURITIES OF THE COMPANY. (a) - ------------------------------------ ---------------------- -------------------- Amount Beneficially Percent of Class* Owned - ------------------------------------ ---------------------- -------------------- David M. Marks 175,000 * - ------------------------------------ ---------------------- -------------------- Farwell Equity Partners, LLC 71,833,333 70.89 - ------------------------------------ ---------------------- -------------------- Irrevocable Children's Trust 10,969,522 10.83% - ------------------------------------ ---------------------- -------------------- Irrevocable Children's Trust No.2 72,232 * - ------------------------------------ ---------------------- -------------------- Phoenix Business Trust 123,823 * - ------------------------------------ ---------------------- -------------------- Forest Home Investors I, LLC 6,667 *% - ------------------------------------ ---------------------- -------------------- Ohio Investors of Wisconsin 1,190,779 1.18% - ------------------------------------ ---------------------- -------------------- Phoenix Investors LLC 347,579 * - ------------------------------------ ---------------------- -------------------- * Less than 1%. o Based upon 101,332,638 shares of Common Stock of the Company issued and outstanding as of August 29, 2005. (b)
- ------------------------------------------- ------------------------------------------------------------------------- Number of shares as to which each Reporting Person has - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Sole power to vote Shared power to Sole power to Shared power or to direct the vote or direct dispose or to dispose vote the vote direct the or direct disposition the disposition - ------------------------------------------- -------------------- ------------------ ------------------ -------------- David M. Marks 175,000 0 175,000 0 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Farwell Equity Partners, LLC 0 71,833,333 0 71,833,333 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Irrevocable Children's Trust 0 10,969,522 0 10,969,522 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Irrevocable Children's Trust No.2 0 72,232 0 72,232 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Phoenix Business Trust 0 123,823 0 123,823 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Forest Home Investors I, LLC 0 6,667 0 6,667 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Ohio Investors of Wisconsin 0 1,190,779 0 1,190,779 - ------------------------------------------- -------------------- ------------------ ------------------ -------------- Phoenix Investors LLC 0 347,579 0 347,579 - ------------------------------------------- -------------------- ------------------ ------------------ --------------
Page 12 of 16 pages (c) Except as otherwise described herein, the Reporting Persons have not effected any transactions with respect to the Common Stock in the last sixty days. (d) Not applicable. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE COMPANY. Mr. Marks is a co-Trustee of ICT and the sole Trustee of ICT2. The Trusts control Forest Home and Phoenix Trust. ICT2 controls Phoenix Investors. ICT controls Ohio Investors. Mr. Marks has sole voting and dispository power over the shares of the Company beneficially owned, directly or indirectly, by ICT and ICT2. Mr. Marks is the sole Trustee of Phoenix Trust and has sole voting power over its shares. Approximately ninety five percent of the membership units of Farwell are owned by Frank Crivello. Mr. Marks owns approximately five percent of the membership units of Farwell and is the Managing Member of Farwell. Mr. Marks has sole voting and dispository power of the shares of Farwell. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. EXHIBIT INDEX 1. Joint Filing Agreement, dated September 30, 2002, among David Marks, Irrevocable Children's Trust, a Wisconsin trust, SVPC Partners, LLC, a Delaware limited liability company, Phoenix Business Trust, a Delaware business trust, Forest Home Investors I, LLC, a Wisconsin limited liability company and Ohio Investors of Wisconsin, LLC, a Wisconsin limited liability company. ** 2. Co-Trustee Agreement, dated as of August 8, 2002, between David M. Marks and Joseph A. Crivello. ** 3. Amendment No. 1 to the Joint Filing Agreement, dated May 6, 2003, among David Marks, Irrevocable Children's Trust, a Wisconsin trust, Phoenix Business Trust, a Delaware business trust, Forest Home Investors I, LLC, a Wisconsin limited liability company, Irrevocable Children's Trust No. 2, a Wisconsin trust and Phoenix Investors, LLC, a Wisconsin limited liability company. 4. Consulting Agreement dated as of July 24, 2003 among SBI Securities, Irrevocable Children's Trust and Ventures-National Incorporated.*** 5. Form of Consulting Agreement dated as of August 19, 2003 among Trilogy Capital, Irrevocable Children's Trust and Ventures National Incorporated.*** 6. Warrant dated July 24, 2003, issued to SBI-USA by Irrevocable Children's Trust.*** 7. Warrant dated July 29, 2003, issued to Andrew Glashow by Irrevocable Children's Trust.*** 8. Warrant dated July 29, 2003, issued to Robert Ciri by Irrevocable Children's Trust.*** 9. Amendment No.2 to the Joint Filing Agreement, dated September 12, 2003, among David Marks, Irrevocable Children's Trust, a Wisconsin trust, Phoenix Business Trust, a Delaware business trust, Forest Home Investors I, LLC, a Wisconsin limited liability company, Irrevocable Children's Trust No. 2, a Wisconsin trust. **** 10. Amendment No.3 to the Joint Filing Agreement, dated May 6, 2003, among David Marks, Irrevocable Children's Trust, a Wisconsin trust, Phoenix Business Trust, a Delaware business trust, Forest Home Investors I, LLC, a Wisconsin limited liability company, Irrevocable Children's Trust No. 2, a Wisconsin trust and Phoenix Investors, LLC, a Wisconsin limited liability company. Filed herewith. ** Previously filed and incorporated herein by reference to the Schedule 13D, filed October 4, 2002. *** Previously filed and incorporated herein by reference to the Registration on Form SB-2 filed August 20, 2003. **** Previously filed and incorporated herein by reference to the Schedule 13D/A filed on September 15, 2003. Page 13 of 16 Pages SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: September 16, 2005 /s/ David M. Marks ------------------ DAVID M. MARKS FARWELL EQUITY PARTNERS, LLC By: /s/ David M. Marks ---------------------- Name: David M. Marks Title: Managing Member IRREVOCABLE CHILDREN'S TRUST By: /s/ David M. Marks ---------------------- Name: David M. Marks Title: Trustee IRREVOCABLE CHILDREN'S TRUST No.2 By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee Page 14 of 16 Pages PHOENIX BUSINESS TRUST By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee FOREST HOME INVESTORS I, LLC By Irrevocable Children's Trust, Member By: /s/ David M. Marks ------------------------ Name: David M. Marks Title: Trustee OHIO INVESTORS OF WISCONSIN By Irrevocable Children's Trust, Member By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee PHOENIX INVESTORS, LLC By: /s/ David M. Marks ---------------------- Name: David M. Marks Title: Managing Member Page 15 of 16 Pages EXHIBIT 10 Amendment No. 3 to the Joint Filing Agreement The undersigned hereby agree to make joint filings of Form 13D with the U.S. Securities and Exchange Commission with respect to their beneficial ownership of the common stock, par value $0.001 per share, of Ventures-National Incorporated, d/b/a Titan General Holdings, including all amendments thereto. Date: September 16, 2005 /s/ David M. Marks ------------------ DAVID M. MARKS FARWELL EQUITY PARTNERS, LLC By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Managing Member IRREVOCABLE CHILDREN'S TRUST By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee Page 16 of 16 Pages IRREVOCABLE CHILDREN'S TRUST No.2 By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee PHOENIX BUSINESS TRUST By: /s/ David M. Marks ----------------------- Name: David M. Marks Title: Trustee FOREST HOME INVESTORS I, LLC By Irrevocable Children's Trust, Member By: /s/ David M. Marks ------------------------ Name: David M. Marks Title: Trustee OHIO INVESTORS OF WISCONSIN By Irrevocable Children's Trust, Member By: /s/ David M. Marks ------------------------ Name: David M. Marks Title: Trustee PHOENIX INVESTORS, LLC By: /s/ David M. Marks ------------------------ Name: David M. Marks Title: Managing Member -----END PRIVACY-ENHANCED MESSAGE-----