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SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(A) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)*
NETSOL INTERNATIONAL, INC.
(Name of Issuer)
COMMON STOCK, $.001 par value
(Title of Class of Securities)
64115A105
(CUSIP Number)
JOHN C. KIRKLAND, ESQ.
Greenberg Traurig, LLP
2450 Colorado Avenue, Suite 400E
Santa Monica, California 90404
(310) 586-7700
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 31, 2001
(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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d 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 Rule 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).
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SCHEDULE 13D
CUSIP NO. 64115 A 105
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NetSol Shareholders Group, LLC
----------------------------------------------------------------------
I.R.S. Identification No. --
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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(3) SEC USE ONLY
----------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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(7) SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
-----------------------------------------------------
(10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
----------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
----------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
----------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
OO
----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 64115 A 105
(1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Master Fund, L.P.
----------------------------------------------------------------------
I.R.S. Indentification No. - 98-0198093
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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(7) SOLE VOTING POWER
NUMBER OF 2,175,200
SHARES -----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
2,175,200
-----------------------------------------------------
(10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,175,200
----------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[ ]
----------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4
18.5%
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(14) TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 64115 A 105
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Blue Water Partners II, L.P.
----------------------------------------------------------------------
I.R.S. Identification No. --
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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(3) SEC USE ONLY
----------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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(7) SOLE VOTING POWER
NUMBER OF 277,400
SHARES -----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
277,400
-----------------------------------------------------
(10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
277,400
----------------------------------------------------------------------
(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
----------------------------------------------------------------------
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
----------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 64115 A 105
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PSM International Limited
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I.R.S. Identification No. - n/a
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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(3) SEC USE ONLY
----------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
(6) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Isle of Man
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(7) SOLE VOTING POWER
NUMBER OF 100,000
SHARES -----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
100,000
-----------------------------------------------------
(10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
----------------------------------------------------------------------
(13) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
----------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8
.9%
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(14) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 64115 A 105
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Dr. Henry Vogel
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I.R.S. Identification No. n/a
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
OO
----------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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(7) SOLE VOTING POWER
NUMBER OF 463,240
SHARES -----------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
463,240
-----------------------------------------------------
(10) SHARED DISPOSITIVE POWER
0
-----------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
463,240
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10
4.0%
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(14) TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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ITEM 1 SECURITY AND ISSUER
The Schedule 13D filed with the U.S. Securities and Exchange Commission (the
"SEC") on April 26, 2001, by Blue Water Master Fund, L.P., a limited partnership
formed in Curacao, Netherland Antilles, relating to the common shares, $.001 par
value (the "Shares") of NetSol International, Inc., a Nevada Corporation (the
"Issuer") as amended on April 27, May 14, May 17, 2001 and June 4, 2001, is
hereby amended to furnish and restate the information set forth herein. The
address of the principal executive offices of the Issuer is 24025 Park Sorrento,
Suite 220, Calabasas, CA 91302.
ITEM 4 PURPOSE OF TRANSACTION
On June 7, 2001, the NetSol Shareholders Group, LLC (the "Group") filed
a definitive proxy statement to solicit stockholders to: (a) amend the Bylaws of
the Issuer, to increase the maximum number of directors from nine (9) to fifteen
(15), and to change the number of authorized Directors of the Issuer from eight
(8) to fifteen (15) directors; and (b) to elect seven (7) new directors to fill
the vacancies on the Board. The Group nominated Jonathan D. Iseson, Gregory J.
Martin, Peter R. Sollenne, Timothy J. Moynagh, Eddy Raymond Maria Verresen,
Shelly Singhal and Donald L. Danks to fill the vacancies on the Board.
All of the Group's nominees have withdrawn their names from
consideration as directors of the Issuer. The Group currently does not have any
plans to solicit the stockholders in order to gain control of the Board.
The Group has decided that it will no longer act as a group, as such term is
used under Section 13(d) of the Securities and Exchange Act of 1934, as amended,
for the purpose of acquiring, holding or disposing of the securities of the
Issuer.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
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(c) The following table sets forth all transactions with respect to
Shares effected by any of the Registrants during the past sixty (60) days or
since the most recent filing of Schedule 13D. All such transactions were
effected in the open market, and exclude commissions paid.
SHAREHOLDERS NO. OF SHARES PURCHASE NO. OF SHARES SOLD DATE OF TRANSACTION
------------ ---------------------- ------------------ -------------------
Group 1000 May 29, 2001
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SIGNATURES
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: July 31, 2001
BLUE WATER MASTER FUND, L.P.
By: Blue Water Partners, L.L.C.
Its: General Partner
By: JDI Management Corp.
Its: Principal
/s/ JONATHAN D. ISESON
----------------------------------
By: Jonathan D. Iseson
Its Principal
BLUE WATER PARTNERS II, L.P.
By: Blue Water Partners, L.L.C.
Its: General Partner
By: JDI Management Corp.
Its: Principal
/s/ JONATHAN D. ISESON
----------------------------------
By: Jonathan D. Iseson
Its Principal
PSM INTERNATIONAL LIMITED
By:
/s/ GRAEME GLEW
----------------------------------
Name: Graeme Glew
Its: Managing Director
/s/ DR. HENRY VOGEL
----------------------------------
Dr. Henry Vogel
NETSOL SHAREHOLDERS GROUP, LLC
By: Blue Water Master Fund, L.P.
Its: Manager
By: Blue Water Partners, LLC
Its: General Partner
/s/ JONATHAN D. ISESON
----------------------------------
By: Jonathan D. Iseson
Its: Principal