-----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, LBKCPUzZeGj/4JgZqrNOZCQrmvGqGFXaRITS++FKuRnwi/S5PTwPEcVsylRFsZC2 Gof8PSvQMe5IcJPaTyVLAQ== 0000896017-05-000033.txt : 20050708 0000896017-05-000033.hdr.sgml : 20050708 20050701134028 ACCESSION NUMBER: 0000896017-05-000033 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050701 DATE AS OF CHANGE: 20050701 GROUP MEMBERS: ANDREW DAKOS GROUP MEMBERS: JAMES CHADWICK GROUP MEMBERS: NADEL AND GUSSMAN LLC GROUP MEMBERS: PACIFIC COAST INVESTMENT PARTNERS LLC GROUP MEMBERS: PACIFIC COAST INVESTMENT PARTNERS LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AIRNET SYSTEMS INC CENTRAL INDEX KEY: 0001011696 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 311458309 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-48747 FILM NUMBER: 05932106 BUSINESS ADDRESS: STREET 1: 3939 INTERNATIONAL GATEWAY CITY: COLUMBUS STATE: OH ZIP: 43219 BUSINESS PHONE: 6142379777 MAIL ADDRESS: STREET 1: 3939 INTERNATIONAL GATEWAY STREET 2: 3939 INTERNATIONAL GATEWAY CITY: COLUMBUS STATE: OH ZIP: 43219 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: OPPORTUNITY PARTNERS L P CENTRAL INDEX KEY: 0000896017 IRS NUMBER: 113132092 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 60 HERITAGE DRIVE CITY: PLESANTVILLE STATE: NY ZIP: 10570 BUSINESS PHONE: 9147475262 MAIL ADDRESS: STREET 1: 60 HERITAGE DRIVE CITY: PLEASANTVILLE STATE: NY ZIP: 10570 SC 13D/A 1 amdthird.txt SCHEDULE 13D DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT 6/17/2005 1. NAME OF REPORTING PERSON Phillip Goldstein, Andrew Dakos, Pacific Coast Investment Partners, LLC., Pacific Coast Investment Fund L.P., Nadel and Gussman Funds LLC.and James Chadwick. 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS NA 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION NA 7. SOLE VOTING POWER NA 8. SHARED VOTING POWER NA 9. SOLE DISPOSITIVE POWER NA 10. SHARED DISPOSITIVE POWER NA 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 1,554,000 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 15.37% 14. TYPE OF REPORTING PERSON NA ________________________________________________________________ 1. NAME OF REPORTING PERSON Phillip Goldstein 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA 7. SOLE VOTING POWER 336,900 8. SHARED VOTING POWER 25,000 9. SOLE DISPOSITIVE POWER 839,500 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 1,327,300 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 13.13% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ 1. NAME OF REPORTING PERSON Andrew Dakos 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA 7. SOLE VOTING POWER 191,900 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 191,900 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 191,900 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 1.9% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ 1. NAME OF REPORTING PERSON Pacific Coast Investment Partners, LLC 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION California 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 0 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 0 14. TYPE OF REPORTING PERSON OO ________________________________________________________________ 1. NAME OF REPORTING PERSON Pacific Coast Investment Fund, L.P 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION California 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 14. TYPE OF REPORTING PERSON PN ________________________________________________________________ 1. NAME OF REPORTING PERSON Nadel and Gussman Combined Funds LLC 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Oklahoma 7. SOLE VOTING POWER 34,800 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 34,800 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 ..34% 14. TYPE OF REPORTING PERSON OO ________________________________________________________________ 1. NAME OF REPORTING PERSON James Chadwick 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA 7. SOLE VOTING POWER 487,800 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 522,600 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 487,800 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 4.82% 14. TYPE OF REPORTING PERSON IA This statement constitutes amendment #1 to the Schedule 13d filed on April 13, 2005. Except as specifically set forth herein, the Schedule 13d remains unmodified. ITEM 4. PURPOSE OF TRANSACTION On June 17, 2005 client accounts controlled by Pacific Coast Investment Fund L.P.("PCI Fund") sold 487,800 shares to client accounts controlled by Mr. Goldstein and Mr. Dakos. Mr. James Chadwick retains the power to vote and to dispose those shares. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER a. As per the quarterly report filed on November 15, 2004 there were 10,109,833 shares outstanding as of November 4, 2004. The percentage set forth in this item (5a) was derived using such number. Mr. Phillip Goldstein is deemed to be the beneficial owner of 1,327,300 shares of ANS or 13.13% of the outstanding shares. Mr. Dakos is deemed to be the beneficial owner of 191,900 shares of ANS or 1.9%% of the outstanding shares. NGCF is deemed to be the beneficial owner of 34,800 shares of ANS or .34%. b. Power to dispose of securities resides solely with Mr. Phillip Goldstein for 839,500 shares. Power to vote securities resides solely with Mr. Phillip Goldstein for 336,900 shares and jointly for 25,000 shares. Power to dispose and vote securities resides solely with Mr. Dakos for 191,900 shares. NGCF has the sole power to vote the 34,800 Shares held by it while Mr. James Chadwick has the power to dispose of the shares. Mr. James Chadwick also has the power to vote and dispose of 487,800 shares beneficially owned by Mr. Phillip Goldstein, Mr. Dakos and clients. c. During the last sixty days the following shares of common stock were traded(unless previously reported): PCI Funds 4/18/2005 B 1900 @ 4.0353 4/19/2005 B 800 @ 3.9913 4/20/2005 B 300 @ 4.0567 4/29/2005 B 4200 @ 4.0119 6/17/2005 S 487,800 ANS @ 4.73 PHILLIP GOLDSTEIN 6/17/2005 B 487,800 ANS @ 4.73 Nadel and Gussman Combined Funds LLC 4/21/05 B 2,300 4.0039 4/22/05 B 600 4.0267 4/25/05 B 700 3.9943 4/26/05 B 400 4.06 4/27/05 B 500 4.1618 4/28/05 B 600 4.20 4/29/05 B 5,000 4.0119 5/24/05 B 500 4.62 5/31/05 B 900 4.9533 ITEM 7. MATERIAL TO BE FILED AS EXHIBITS NONE. 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: 7/1/05 By: /s/ Phillip Goldstein - ------------------------- Name: Phillip Goldstein By: /S/ Andrew Dakos - ---------------------- Name: Andrew Dakos PACIFIC COAST INVESTMENT PARTNERS, LLC By: /s/ James M. Chadwick - ------------------------------------- James M. Chadwick, Managing Member PACIFIC COAST INVESTMENT FUND, LP By: Pacific Coast Investment Partners, LLC, Its General Partner By: /s/ James M. Chadwick ------------------------------------- James M. Chadwick, Managing Member NADEL AND GUSSMAN COMBINED FUNDS LLC By: /s/ Stephen Heyman ------------------------------------- Stephen Heyman, Managing Member By: /s/ James M. Chadwick - ------------------------------------- James M. Chadwick, Managing Member -----END PRIVACY-ENHANCED MESSAGE-----