-----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, S3sqwEuLTBFK42VfSosEErdDxvlw6gZs4P9we2qVFMmPrfukJN2C2QAHADmTqLUi IN/1n0ubO0t0VAZaURaCYg== 0000910680-04-000002.txt : 20040102 0000910680-04-000002.hdr.sgml : 20040101 20040102142226 ACCESSION NUMBER: 0000910680-04-000002 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040102 GROUP MEMBERS: SDS CAPITAL PARTNERS, LLC GROUP MEMBERS: SDS MERCHANT FUND, L.P. GROUP MEMBERS: STEVEN DERBY FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SDS MERCHANT FUND LP CENTRAL INDEX KEY: 0001122699 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: ONE SOUND SHORE DR STREET 2: 2ND FLOOR CITY: GREENWICH STATE: CT ZIP: 06830 MAIL ADDRESS: STREET 1: ONE SOUND SHORE DR STREET 2: 2ND FLOOR CITY: GREENWICH STATE: CT ZIP: 06830 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: P COM INC CENTRAL INDEX KEY: 0000935493 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 770289371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-48050 FILM NUMBER: 04501000 BUSINESS ADDRESS: STREET 1: 3175 S WINCHESTER BLVD CITY: CAMPBELL STATE: CA ZIP: 95008 BUSINESS PHONE: 4088663666 MAIL ADDRESS: STREET 1: 3175 S WINCHESTER BLVD STREET 2: C/O P-COM INC CITY: CAMPBELL STATE: CA ZIP: 95008 SC 13G 1 sc13gpcom-12222003.txt DECEMBER 22, 2003 ----------------------------- OMB APPROVAL ----------------------------- OMB Number 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response ..... 11 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 P-COM, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.0001 par value per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 693262206 - ------------------------------------------------------------------------------- (CUSIP Number) December 22, 2003 - ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Statement 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 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. 693262206 SCHEDULE 13G Page 2 of 9 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SDS Merchant Fund, L.P. - -------------------------------------------------------------------------------- 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 NUMBER OF 19,420,000 SHARES ------------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH 0 REPORTING ------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 19,420,000 ------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,420,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.4% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT - -------------------------------------------------------------------------------- CUSIP No. 693262206 SCHEDULE 13G Page 3 of 9 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SDS Capital Partners, 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 NUMBER OF 0 SHARES ------------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH 19,420,000 REPORTING ------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 0 ------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 19,420,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,420,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.4% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT - -------------------------------------------------------------------------------- CUSIP No. 693262206 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 NUMBER OF 0 SHARES ------------------------------------------------------------- BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH 19,420,000 REPORTING ------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 0 ------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 19,420,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,420,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.4% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT - -------------------------------------------------------------------------------- CUSIP No. 693262206 SCHEDULE 13G Page 5 of 9 Pages - -------------------------------------------------------------------------------- Item 1(a). Name of Issuer: P-COM, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 3175 S. Winchester Boulevard Campbell, California 95008 Item 2(a). Name of Person Filing. Item 2(b). Address of Principal Business Office or, if None, Residence. Item 2(c). Citizenship. SDS Merchant Fund, L.P. (the "Reporting Person") c/o SDS Capital Partners, LLC 53 Forest Avenue, 2nd Floor Old Greenwich, CT 06870 Delaware limited partnership SDS Capital Partners, LLC (the "General Partner") 53 Forest Avenue, 2nd Floor Old Greenwich, CT 06870 Delaware limited liability company Mr. Steven Derby ("Mr. Derby") Sole Managing Member of the General Partner 53 Forest Avenue, 2nd Floor Old Greenwich, CT 06870 United States citizen Item 2(d). Title of Class of Securities: Common Stock, par value $0.0001 per share Item 2(e). CUSIP Number: 693262206 Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a: Not Applicable. - -------------------------------------------------------------------------------- CUSIP No. 693262206 SCHEDULE 13G Page 6 of 9 Pages - -------------------------------------------------------------------------------- Item 4. Ownership. As of December 22, 2003: 1. The Reporting Person. (a) Amount beneficially owned: 19,420,000 shares of Common Stock. (b) Percent of Class: 8.4% (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 19,420,000 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 19,420,000 (iv) shared power to dispose or direct the disposition of: 0 2. The General Partner - same as Mr. Derby, see below. 3. Mr. Derby. (a) Amount beneficially owned: 19,420,000 shares of Common Stock. (b) Percent of Class: 8.4% (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: 19,420,000 (iii) sole power to dispose or direct the disposition of: 0 (iv) shared power to dispose or direct the disposition of: 19,420,000 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. - -------------------------------------------------------------------------------- CUSIP No. 693262206 SCHEDULE 13G Page 7 of 9 Pages - -------------------------------------------------------------------------------- Item 8. Identification and Classification of Members of the Group. Not Applicable. Item 9. Notice of Dissolution of Group. Not Applicable. Item 10. Certification. By signing below, the Reporting Person certifies that, to the best of its 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. 693262206 SCHEDULE 13G Page 8 of 9 Pages - -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of the Reporting Person's knowledge and belief, the Reporting Person certifies that the information set forth in this statement is true, complete and correct. Dated: December 31, 2003 SDS MERCHANT FUND, L.P. By: SDS Capital Partners, LLC, its General Partner By: /s/ Drew E. Gillanders ------------------------------------ Name: Drew E. Gillanders Title: Partner SDS CAPITAL PARTNERS, LLC By: /s/ Drew E. Gillanders ------------------------------------ Name: Drew E. Gillanders Title: Partner ------------------------------------ Steven Derby* - ---------- * Signature to be provided via amendment - -------------------------------------------------------------------------------- CUSIP No. 693262206 SCHEDULE 13G Page 9 of 9 Pages - -------------------------------------------------------------------------------- EXHIBIT A JOINT FILING AGREEMENT This Agreement is filed as an exhibit to Schedule 13G being filed by SDS Merchant Fund, L.P., SDS Capital Partners, 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 the Schedule 13G to which this Agreement is attached is filed on behalf of the below-named companies, 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: December 31, 2003 SDS MERCHANT FUND, L.P. By: SDS Capital Partners, LLC, its General Partner By: /s/ Drew E. Gillanders ------------------------------------ Name: Drew E. Gillanders Title: Partner SDS CAPITAL PARTNERS, LLC By: /s/ Drew E. Gillanders ------------------------------------ Name: Drew E. Gillanders Title: Partner ------------------------------------ Steven Derby* - ---------- * Signature to be provided via amendment -----END PRIVACY-ENHANCED MESSAGE-----