-----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, AIlpaxo8phqA9vdemFmCO8CBvxkx4DKW+sYyplrvQhzDzQKfwbXT/VaDrNZGYn0r wjfAcahx1yUEsiUFl3N9tw== 0001104659-07-074926.txt : 20071015 0001104659-07-074926.hdr.sgml : 20071015 20071015162836 ACCESSION NUMBER: 0001104659-07-074926 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071015 DATE AS OF CHANGE: 20071015 GROUP MEMBERS: ANDREA GOREN GROUP MEMBERS: PHOENIX VENTURE FUND LLC FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SASSOWER PHILIP S CENTRAL INDEX KEY: 0000908269 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: BUSINESS PHONE: 2127591909X30 MAIL ADDRESS: STREET 1: 135 EAST 57TH ST STREET 2: 12TH FL CITY: NEW YORK STATE: NY ZIP: 10022 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNICATION INTELLIGENCE CORP CENTRAL INDEX KEY: 0000727634 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 942790442 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-51123 FILM NUMBER: 071172210 BUSINESS ADDRESS: STREET 1: 275 SHORELINE DR STREET 2: STE 500 CITY: REDWOOD SHORES STATE: CA ZIP: 94065 BUSINESS PHONE: 6508027888 MAIL ADDRESS: STREET 1: 275 SHORELINE DR STREET 2: STE 500 CITY: REDWOOD SHORES STATE: CA ZIP: 94065 SC 13D 1 a07-26689_1sc13d.htm SC 13D

 

 

UNITED STATES

 

 

SECURITIES AND EXCHANGE
COMMISSION



 

Washington, D.C. 20549



 

SCHEDULE 13D




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

 

Communication Intelligence Corporation

(Name of Issuer)

 

Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

20338K106

(CUSIP Number)

 

Andrea Goren

 

David Warburg, Esq.

Phoenix Venture Fund LLC

 

Thelen Reid Brown Raysman

110 East 59th Street

 

& Steiner

Suite 1901

 

875 Third Avenue

New York, New York 10022

 

New York, New York 10022

(212) 759-1909

 

(212) 603-2214

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

September 14, 2007

(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 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).

 

 




 

CUSIP No. 20338K106

Page 2 of 10

 

 

1.

Names of Reporting Persons.
Phoenix Venture Fund LLC
I.R.S. Identification Nos. of above persons (entities only)

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 x

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
21,500,000

 

8.

Shared Voting Power
0

 

9.

Sole Dispositive Power
21,500,000

 

10.

Shared Dispositive Power
0

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
21,500,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
16.7%

 

 

14.

Type of Reporting Person (See Instructions)
OO

 




 

 

CUSIP No. 20338K106

Page 3 of 10

 

 

1.

Names of Reporting Persons.
Philip S. Sassower
I.R.S. Identification Nos. of above persons (entities only)
N/A

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 x

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
United States

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
700,000(1)

 

8.

Shared Voting Power
21,500,000(2)

 

9.

Sole Dispositive Power
700,000(1)

 

10.

Shared Dispositive Power
21,500,000(2)

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
22,200,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
17.2%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 


(1) Includes 700,000 shares of Common Stock owned by Mr. Sassower.

(2) Owned directly by Phoenix Venture Fund LLC (“Phoenix”).  Mr. Sassower is the co-manager of the managing member of Phoenix.  Mr. Sassower disclaims any beneficial ownership of the securities owned by Phoenix, except to the extent attributable to capital contributions made by him.




 

CUSIP No. 20338K106

Page 4 of 10

 

 

1.

Names of Reporting Persons.
Andrea Goren
I.R.S. Identification Nos. of above persons (entities only)
N/A

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 x

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
United States

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
10,000(3)

 

8.

Shared Voting Power
21,500,000(4)

 

9.

Sole Dispositive Power
10,000(3)

 

10.

Shared Dispositive Power
21,500,000(4)

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
21,510,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
16.7%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 


(3) Includes 10,000 shares of Common Stock owned by Mr. Goren.

(4) Owned directly by Phoenix Venture Fund LLC (“Phoenix”).  Mr. Goren is the co-manager of the managing member of Phoenix.  Mr. Goren disclaims any beneficial ownership of the securities owned by Phoenix, except to the extent attributable to capital contributions made by him.




CUSIP No. 20338K106

 

Page 5 of 10

 

ITEM 1.  SECURITY AND ISSUER

The class of equity securities to which this statement (this “Statement”) relates is the common stock, par value $0.01 per share (the “Common Stock”), of Communication Intelligence Corporation, a Delaware corporation (the “Issuer”).  The principal executive office of the Issuer is located at 275 Shoreline Drive, Suite 500, Redwood Shores, California 94065-1413.

ITEM 2.  IDENTITY AND BACKGROUND

This Statement is filed by Phoenix Venture Fund LLC, a Delaware limited liability company, (“Phoenix”), Philip S. Sassower, a U.S. citizen (“Mr. Sassower”) and Andrea Goren, a U.S. citizen (“Mr. Goren”).  The principal business of Phoenix is to invest in and advise small cap public companies that require financing and resource planning.  The principal office of Phoenix is located at 110 East 59th Street, Suite 1901, New York, New York 10022.  The address of Mr. Sassower is 110 East 59th Street, Suite 1901, New York, New York 10022.  The address of Mr. Goren is 110 East 59th Street, Suite 1901, New York, New York 10022.

During the five years prior to the date hereof, none of Phoenix, Mr. Sassower or Mr. Goren have (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of such proceeding such person 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 laws or finding any violation with respect to such laws.

ITEM 3.  SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

On September 14, 2007, Phoenix purchased 21,500,000 shares of Common Stock (the “Stock”) pursuant to a Securities Purchase and Registration Rights Agreement dated August 24, 2007, a copy of which is filed as an exhibit hereto, for an aggregate purchase price of $3,000,000.  Phoenix purchased the Stock with working capital.

Mr. Sassower and Mr. Goren are the co-managers of the managing member of Phoenix.  Both Mr. Sassower and Mr. Goren disclaim any beneficial ownership of the Stock.

ITEM 4.  PURPOSE OF TRANSACTION

The Stock of the Issuer to which this Statement relates was acquired by Phoenix as an investment resulting in the financing described in the Issuer’s Current Report on Form 8-K filed August 27, 2007 (the “Financing”).

Except as set forth in this Statement, Phoenix does not presently have any specific plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

Mr. Sassower and Mr. Goren are the co-managers of the managing member of Phoenix.  Both Mr. Sassower and Mr. Goren disclaim any beneficial ownership of the Stock, except to the extent attributable to capital contributions made by him.




 

 

CUSIP No. 20338K106

 

Page 6 of 10

 

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER

(a)           Phoenix, for the purpose of Rule 13d-3 promulgated under the Exchange Act, beneficially owns 21,500,000 shares of Common Stock representing approximately 16.7% of the outstanding shares of Common Stock.

Mr. Sassower, for the purposes of Rule 13d-3 promulgated under the Exchange Act, beneficially owns 22,200,000 shares of Common Stock representing approximately 17.2% of the outstanding shares of Common Stock.  Mr. Sassower is the co-manager of the managing member of Phoenix.  Mr. Sassower disclaims any beneficial ownership of the 21,500,000 shares of Common Stock held by Phoenix, except to the extent attributable to capital contributions made by him.

Mr. Goren, for the purposes of Rule 13d-3 promulgated under the Exchange Act, beneficially owns 21,510,000 shares of Common Stock representing approximately 16.7% of the outstanding shares of Common Stock.  Mr. Goren is the co-manager of the managing member of Phoenix.  Mr. Goren disclaims any beneficial ownership of the 21,500,000 shares of Common Stock held by Phoenix, except to the extent attributable to capital contributions made by him.

(b)           Phoenix has the sole power to vote and the sole power to dispose of 21,500,000 shares of Common Stock.

Mr. Sassower has the sole power to vote and the sole power to dispose of 700,000 shares of Common Stock and has the shared power to vote and the shared power to dispose of 21,500,000 shares of Common Stock.

Mr. Goren has the sole power to vote and the sole power to dispose of 10,000 shares of Common Stock and has the shared power to vote and the shared power to dispose of 21,500,000 shares of Common Stock.

(c)           Including the information with respect to the acquisition by Phoenix, as set forth in Items 3 and 4, which is hereby incorporated by reference, the following transactions were effected by Mr. Sassower between July 16, 2007 and September 14, 2007 in privately negotiated transactions:

Date

 

Number of Shares

 

Price Per Share

 

Aggregate Price

7/18/2007

 

  48,000

 

$0.1743

 

$  8,364.26

7/18/2007

 

  41,000

 

$0.1702

 

$  6,979.97

7/18/2007

 

  28,500

 

$0.1693

 

$  4,823.77

7/19/2007

 

125,000

 

$0.1691

 

$21,134.25

7/19/2007

 

    6,000

 

$0.1688

 

$  1,012.50

7/23/2007

 

  69,000

 

$0.1685

 

$11,625.50

TOTAL

 

317,500

 

 

 

$53,940.25

 

Including the information with respect to the acquisition by Phoenix, as set forth in Items 3 and 4, which is hereby incorporated by reference, the following transactions were effected by Mr. Goren between July 16, 2007 and September 14, 2007 in a privately negotiated transaction:

Date

 

Number of Shares

 

Price Per Share

 

Aggregate Price

7/16/2007

 

5,000

 

$0.18

 

$909.99

TOTAL

 

5,000

 

 

 

$909.99

 

(d)           Not applicable.




 

 

CUSIP No. 20338K106

 

Page 7 of 10

 

(e)           Not applicable.

ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

Phoenix is party to a Securities Purchase and Registration Rights Agreement with the Issuer dated as of August 24, 2007, pursuant to which the Issuer has agreed to register the Stock.

ITEM 7.  MATERIAL TO BE FILED AS EXHIBITS

Exhibit A — Securities Purchase and Registration Rights Agreement dated as of August 24, 2007, between the Issuer and Phoenix




 

CUSIP No. 20338K106

Page 8 of 10

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Schedule 13D is true, complete and correct.

Dated:   October 15, 2007

PHOENIX VENTURE FUND LLC

 

 

 

By:

SG Phoenix Ventures LLC, its Managing Member

 

 

 

 

 

By:

/s/ Andrea Goren

 

Name:

Andrea Goren

 

Title:

Managing Member

 

 




 

CUSIP No. 20338K106

Page 9 of 10

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Schedule 13D is true, complete and correct.

Dated:   October 15, 2007

 

 

/s/ Philip S. Sassower

 

Philip S. Sassower

 




 

CUSIP No. 20338K106

Page 10 of 10

 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Schedule 13D is true, complete and correct.

Dated:   October 15, 2007

 

 

/s/ Andrea Goren

 

Andrea Goren

 




 

EXHIBIT A

Securities Purchase and Registration Rights Agreement

 



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