0000950116-05-001320.txt : 20120622
0000950116-05-001320.hdr.sgml : 20120622
20050407200548
ACCESSION NUMBER: 0000950116-05-001320
CONFORMED SUBMISSION TYPE: SC 13G/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050408
DATE AS OF CHANGE: 20050407
GROUP MEMBERS: MR. STEVEN DERBY
GROUP MEMBERS: SDS CAPITAL GROUP SPC, LTD.(1)
GROUP MEMBERS: SDS MANAGEMENT, LLC
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: TELENETICS CORP
CENTRAL INDEX KEY: 0000810018
STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661]
IRS NUMBER: 330061894
STATE OF INCORPORATION: CA
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: SC 13G/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-39904
FILM NUMBER: 05740261
BUSINESS ADDRESS:
STREET 1: 39 PARKER
CITY: IRVINE
STATE: CA
ZIP: 92618
BUSINESS PHONE: 9494554000
MAIL ADDRESS:
STREET 1: 39 PARKER
CITY: IRVINE
STATE: CA
ZIP: 92618
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: SDS CAPITAL GROUP SPC LTD
CENTRAL INDEX KEY: 0001277663
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: SC 13G/A
BUSINESS ADDRESS:
STREET 1: RK CONSULTING (CAYMAN) LTD PO BOX 174865
STREET 2: CAYMAN CORPORATE CENTER 27 HOSPITAL RD
CITY: GRAND CAYMAN
STATE: E9
ZIP: 00000
MAIL ADDRESS:
STREET 1: C/O CAYMAN CORP P O BOX 174865
STREET 2: 27 HOSPITAL RD
CITY: GRAND CAYMAN
STATE: E9
ZIP: 00000
SC 13G/A
1
form-13ga.txt
SC 13G/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13D-1(B), (C) AND (D) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13D-2(B)
(Amendment No. 1)(1)
Telenetics Corporation
----------------------
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
87943P101
---------
(CUSIP Number)
December 31, 2004
---------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
(Page 1 of 9 Pages)
---------------
(1) 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, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section of the Exchange Act but shall be subject to all
other provisions of the Exchange Act (however, see the Notes).
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 2 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SDS Capital Group SPC, Ltd.
------------ ---------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
------------ ---------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------ ---------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
------------------------------- ----------- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,082,121
NUMBER OF ----------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH
REPORTING ----------- --------------------------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
6,082,121
----------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
------------ ---------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,082,121
------------ ---------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
------------ ---------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.0%
------------ ---------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
----------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 3 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SDS Management, LLC
------------ ---------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
------------ ---------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------ ---------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------- ----------- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,082,121
EACH
REPORTING ----------- --------------------------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
----------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
6,082,121
------------ ---------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,082,121
------------ ---------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
------------ ---------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.0%
------------ ---------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
----------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 4 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mr. Steven Derby
------------ ---------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
------------ ---------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------ ---------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
------------------------------- ----------- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----------- --------------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,082,121
EACH
REPORTING ----------- --------------------------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
----------- --------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
6,082,121
------------ ---------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,082,121
------------ ---------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
------------ ---------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.0%
------------ ---------------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
----------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 5 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
SCHEDULE 13-G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(c)
ITEM 1(A). NAME OF ISSUER:
Telenetics Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
39 Parker
Irvine, California 92618
ITEM 2(A). NAME OF PERSON FILING:
SDS Capital Group SPC, Ltd. ("SDS Capital Group")
c/o Ogier Fiduciary Services (Cayman) Ltd.
113 South Church Street, PO Box 1234GT
George Town, Grand Cayman
Cayman Islands corporation
SDS Management, LLC (the "Investment Manager")
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
Delaware limited liability company
Mr. Steven Derby
Sole Managing Member of the Investment Manager
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
United States citizen
SDS Capital Group, the Investment Manager, and Mr. Derby are
collectively referred to herein as the Reporting Persons.
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 6 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
See Item 2(a).
ITEM 2(C). CITIZENSHIP:
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, no par value (the "Common Stock")
ITEM 2(E). CUSIP NUMBER:
87943P101
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR
(C), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
ITEM 4. OWNERSHIP.
1. SDS Capital Group
(a) Amount beneficially owned: 6,082,121 shares
(b) Percent of class: 10.0%. (The percentage of Common Stock
reported as beneficially owned is based upon 60,667,022 shares outstanding as
reported by the Issuer in its Form 10Q-SB for the period ended September 30,
2004.)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 6,082,121
shares
(ii) Shared power to vote or to direct the vote: 0 shares
(iii) Sole power to dispose or to direct the disposition
of: 6,082,121 shares
(iv) Shared power to dispose or to direct the disposition
of: 0 shares.
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 7 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
2. The Investment Manager
(a) Amount beneficially owned: 6,082,121 shares
(b) Percent of class: 10.0%. (The percentage of Common Stock
reported as beneficially owned is based upon 60,667,022 shares outstanding as
reported by the Issuer in its Form 10Q-SB for the period ended September 30,
2004.)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0 shares
(ii) Shared power to vote or to direct the vote:
6,082,121 shares
(iii) Sole power to dispose or to direct the disposition
of: 0 shares
(iv) Shared power to dispose or to direct the disposition
of: 6,082,121 shares.
The shares reported herein by the Investment Manager are
beneficially owned as a result of the purchase of such shares by SDS Capital
Group. The Investment Manager may be deemed to have the sole power to vote or to
direct the vote and to dispose or to direct the disposition of the shares
beneficially owned by SDS Capital Group.
3. Mr. Derby
(a) Amount beneficially owned: 6,082,121 shares
(b) Percent of class: 10.0%. (The percentage of Common Stock
reported as beneficially owned is based upon 60,667,022 shares outstanding as
reported by the Issuer in its Form 10Q-SB for the period ended September 30,
2004.)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0 shares
(ii) Shared power to vote or to direct the vote:
6,082,121 shares
(iii) Sole power to dispose or to direct the disposition
of: 0 shares
(iv) Shared power to dispose or to direct the disposition
of: 6,082,121 shares
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 8 of 9 Pages
--------- ----------- --------
----------------------------------------------------------------------------------------------------------------------------
The shares reported herein by the Investment Manager are
beneficially owned as a result of the purchase of such shares by SDS Capital
Group. Mr. Derby, in his capacity as the managing member of the Investment
Manager, may be deemed to share the power to vote or to direct the vote and to
dispose or to direct the disposition of the shares beneficially owned by SDS
Capital Group. Mr. Derby disclaims beneficial ownership of the shares reported
herein except to the extent of any pecuniary interest.
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 [ ].
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 A 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 purposes or
effect.
----------------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87943P101 13G Page 9 of 9 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.
Dated: April 7, 2005
SDS CAPITAL GROUP SPC, LTD.
By: SDS Management, LLC, its Investment Manager
By: /s/ Steven Derby
------------------------------------
Name: Steven Derby
Title: Managing Member
SDS MANAGEMENT, LLC
By: /s/ Steven Derby
------------------------------------
Name: Steven Derby
Title: Managing Member
/s/ Steven Derby
----------------------------------------
Steven Derby
EXHIBIT 1
The undersigned acknowledge and agree that the foregoing statement
on Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
SDS CAPITAL GROUP SPC, LTD.
By: SDS Management, LLC, its Investment Manager
By: /s/ Steven Derby
------------------------------------
Name: Steven Derby
Title: Managing Member
SDS MANAGEMENT, LLC
By: /s/ Steven Derby
------------------------------------
Name: Steven Derby
Title: Managing Member
/s/ Steven Derby
----------------------------------------
Steven Derby
Dated: April 7, 2005