-----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, Rz/M7+j2icvZ6XqqxGERqFcfSkVuAsZ/LDG8/zqNEas+3OMyTng6NVBPoL5eAV8T Idd7AmiYvdwLowmJCzAK6g== 0001144204-09-059391.txt : 20091116 0001144204-09-059391.hdr.sgml : 20091116 20091116103316 ACCESSION NUMBER: 0001144204-09-059391 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20091116 DATE AS OF CHANGE: 20091116 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: POLLY HARVEY J CENTRAL INDEX KEY: 0000928704 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 1301 EAST 9TH STREET STREET 2: SUITE 3300 CITY: CLEVELAND STATE: OH ZIP: 44114 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BHIT INC CENTRAL INDEX KEY: 0000764897 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 363361229 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59669 FILM NUMBER: 091184263 BUSINESS ADDRESS: STREET 1: 2255 GLADES ROAD STREET 2: SUITE 342-W CITY: BOCA RATON STATE: FL ZIP: 33431 BUSINESS PHONE: 2167375000 MAIL ADDRESS: STREET 1: 2255 GLADES ROAD STREET 2: SUITE 342-W CITY: BOCA RATON STATE: FL ZIP: 33431 FORMER COMPANY: FORMER CONFORMED NAME: BANYAN HOTEL INVESTMENT FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VMS HOTEL INVESTMENT FUND DATE OF NAME CHANGE: 19910623 FORMER COMPANY: FORMER CONFORMED NAME: VMS HOTEL INVESTMENT TRUST DATE OF NAME CHANGE: 19870827 SC 13D/A 1 v165720_sc13da.htm Unassociated Document
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT RULE 13d-2(a)
(Amendment No. 2)
 
B.H.I.T. Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

 
05550A 10 0
(CUSIP Number)

Christopher J. Hubbert
Kohrman Jackson & Krantz P.L.L. 1375 East 9thStreet, 20thFloor, Cleveland, OH 44114; 216-736-7215
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 10, 2009
 (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 Rule 13d-1(e), 13d-1(f) or 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 § 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 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)
 
Page 1 of 4
 
   
CUSIP No. 05550A 10 0 
Page 2 of 4
   
 
1
name of reporting person
i.r.s. identification no. of above person (entities only)
 
Harvey J. Polly
2
check the appropriate box if a member of a group*
(a) o
(see instructions)                                                                                                                     (b) o
3
sec use only
 
 
4
source of funds (see instructions)
 
 
5
check box if disclosure of legal proceedings is required pursuant
to items 2(d) or 2(e)[__]
 
6
citizenship or place of organization
 
United States of America
number of
shares
beneficially
owned by
each
reporting
person
with
 
7
sole voting power
 
986,250(1)
8
shared voting power
 
100,000(2)
9
sole dispositive power
 
986,250(1)
10
shared dispositive power
 
100,000(2)
11
aggregate amount beneficially owned by each reporting person
 
1,086,250(1)(2)
12
check if the aggregate amount in row (11) excludes certain
shares (see instructions)¨
13
percent of class represented by amount in row (11)
 
3.6%
14
type of reporting person (see instructions)
IN

(1) Includes 500,000 options to purchase shares that are currently exercisable.
(2) Includes 100,000 shares of common stock owned by Mr. Polly’s wife.

   
CUSIP No. 05550A 10 0 
Page 3 of 4
   
Introduction.

This Amendment No. 2 to Schedule 13D relates to shares of common stock, par value $0.01 per share (the “Common Stock”), of B.H.I.T. Inc., a Delaware corporation (the “Company”).

Item 5.                           Interest in Securities of the Issuer.

Items 5(a), 5(c) and 5(e) are amended and supplemented as follows:

(a)         Based solely on information provided by the Company, there are currently 29,671,385 shares of Common Stock outstanding.  Mr. Polly may be deemed to beneficially own 1,086,250 shares of Common Stock, including 500,000 options to purchase shares of Common Stock that are currently exercisable and 100,000 shares of Common Stock owned by his wife, or 3.6% of the Company’s outstanding Common Stock, assuming exercise of the options held by Mr. Polly.  Mr. Polly disclaims beneficial ownership of the shares of Common Stock owned by his wife.

(c)         On November 10, 2009, Mr. Polly sold 2.0 million shares of Common Stock in a private transaction at a price of $0.115 per share, or an aggregate purchase price of $230,000. Mr. Polly has not effected any other transactions in the Common Stock in the past 60 days.

(e)         On November 10, 2009, Mr. Polly ceased to be the owner of more than five percent of the Common Stock.

   
CUSIP No. 05550A 10 0 
Page 4 of 4
   

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.
     
       
Date:  November 16, 2009
 
 /s/ Harvey J. Polly  
    Harvey J. Polly  
       
       

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