-----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, Uo0Idx4kkxDBlk0B8b+3T59dYGi2OKOdDHLB/6ppP/fI+gOw/cEgYAhtYW5NYeph yIri33jOa2ZV+EDsJxteUg== 0001169232-05-000944.txt : 20050214 0001169232-05-000944.hdr.sgml : 20050214 20050214170046 ACCESSION NUMBER: 0001169232-05-000944 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050214 DATE AS OF CHANGE: 20050214 GROUP MEMBERS: MR. STEVEN DERBY GROUP MEMBERS: SDS MANAGEMENT, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SPECTRX INC CENTRAL INDEX KEY: 0000924515 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 582029543 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-51261 FILM NUMBER: 05611853 BUSINESS ADDRESS: STREET 1: 4955 AVALON RIDGE PKWY STREET 2: SUITE 300 CITY: NORCROSS STATE: GA ZIP: 30071 BUSINESS PHONE: 7702428723 MAIL ADDRESS: STREET 1: 4955 AVALON RIDGE PKWY STREET 2: SUITE 300 CITY: NORCROSS STATE: GA ZIP: 30071 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 d62391_sc13g-a.txt SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* SpectRx, Inc. (Name of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securities) 847635109 (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) *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). CUSIP No. 847635109 SCHEDULE 13G Page 2 of 9 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SDS Capital Group SPC, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 823,340 ----------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 823,340 WITH ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 823,340 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- CUSIP No. 847635109 SCHEDULE 13G Page 3 of 9 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SDS Management, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 ----------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 823,340 OWNED BY ----------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 823,340 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 823,340 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- CUSIP No. 847635109 SCHEDULE 13G Page 4 of 9 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Mr. Steven Derby - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 ----------------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 823,340 OWNED BY ----------------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 823,340 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 823,340 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.0% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- CUSIP No. 847635109 SCHEDULE 13G Page 5 of 9 Pages Item 1(a). Name of Issuer: SpectRx, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 4955 Avalon Ridge Pkwy., Suite 300 Norcross, Georgia 30071 Item 2(a). Name of Person Filing. Item 2(b). Address of Principal Business Office or, if None, Residence. Item 2(c). Citizenship. SDS Capital Group SPC, Ltd. (the "Reporting Person") Ogier & Boxalls Queensgate House 113 South Church Street P.O. Box 1234GT Grand Cayman Cayman Islands 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 ("Mr. Derby") Sole Managing Member of the Investment Manager 53 Forest Avenue, 2nd Floor Old Greenwich, CT 06870 United States citizen Item 2(d). Title of Class of Securities: Common Stock, par value $0.001 per share Item 2(e). CUSIP Number: 847635109 Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not Applicable CUSIP No. 847635109 SCHEDULE 13G Page 6 of 9 Pages Item 4. Ownership. The following is information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1 as of December 31, 2004: 1. The Reporting Person. (a) Amount beneficially owned: 823,340 shares of Common Stock (2) (b) Percent of Class: 7.0% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 823,340 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 823,340 (iv) shared power to dispose or direct the disposition of: 0 (2) Includes 166,670 shares issuable upon the conversion of Series A Convertible Preferred Stock and 166,670 shares issuable upon the exercise of warrants issued in connection with a financing which closed on March 26, 2004. 2. The Investment Manager - same as Mr. Derby, see below. 3. Mr. Derby. (a) Amount beneficially owned: 823,340 shares of Common Stock (b) Percent of Class:7.0% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 0 (ii) shared power to vote or direct the vote: 823,340 (iii) sole power to dispose or direct the disposition of: 0 (iv) shared power to dispose or direct the disposition of: 823,340 CUSIP No. 847635109 SCHEDULE 13G Page 7 of 9 Pages Item 5. Ownership of Five Percent or Less of a Class. Not Applicable 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. 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. Certification pursuant to ss.240.13d-1(c): 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. CUSIP No. 847635109 SCHEDULE 13G Page 8 of 9 Pages 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: February 14, 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 CUSIP No. 847635109 SCHEDULE 13G Page 9 of 9 Pages EXHIBIT A JOINT FILING AGREEMENT This Agreement is filed as an exhibit to this Amendment No. 1 to Schedule 13G being filed by SDS Capital Group SPC, Ltd., SDS Management, LLC and Mr. Steven Derby in compliance with Rule 13d-1(k) of the Securities and Exchange Commission, which requires an agreement in writing indicating that this Schedule 13G to which this Agreement is attached is filed on behalf of the below-named companies and individuals, that they are each responsible for the timely filing of the Schedule 13G and any amendments thereto and for the completeness and accuracy of the information concerning such persons contained therein. Dated: February 14, 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 -----END PRIVACY-ENHANCED MESSAGE-----