SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D/A
(AMENDMENT NO. 1)
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)(1)
ACCESS INTEGRATED TECHNOLOGIES INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE
$0.001
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(TITLE OF CLASS OF SECURITIES)
004329108
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(CUSIP NUMBER)
ADAM M. MIZEL, 460 PARK AVENUE, SUITE 2101, NEW YORK, NY 10022, (212) 937-6886
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICE AND COMMUNICATIONS)
AUGUST 13, 2008
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(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/A, 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 Rule 13d-7(b) for other
parties to whom copies are to be sent.
CUSIP No. 004329108 13D/A Page 2 of 6
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
AQUIFER CAPITAL GROUP, LLC
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2.
CHECK THE APPROPRIATE BOX IF A GROUP*
(a)
(b) |X|
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO (Funds from Investment Advisory Clients).
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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------------------- ----- ------------------------------------------------------
NUMBER OF 7.
SHARES SOLE VOTING POWER
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BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 1,862,026
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER
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PERSON WITH 10.
SHARED DISPOSITIVE POWER 1,862,026
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,862,026
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12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 6.95%
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14.
TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 004329108 13D/A Page 3 of 6
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ADAM M. MIZEL
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2.
CHECK THE APPROPRIATE BOX IF A GROUP*
(a)
(b) |X|
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 7.
SHARES SOLE VOTING POWER 0
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----- ------------------------------------------------------
BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 1,862,026
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER 0
----- ------------------------------------------------------
----- ------------------------------------------------------
PERSON WITH 10.
SHARED DISPOSITIVE POWER 1,862,026
----- ------------------------------------------------------
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,862,026
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 6.95%
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14.
TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 004329108 13D/A Page 4 of 6
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
Item 5 is amended as follows:
(a)-(b) The Reporting Persons may be deemed, for purposes of Rule 13d-3
under the Securities Exchange Act of 1934, as amended, to be the beneficial
owners of an aggregate of 1,862,026 shares of Common Stock as of August 13,
2008, which represent 6.95% of the Issuer's outstanding shares of Common Stock.
The percentage calculation was based on 26,797,817 shares outstanding
which is the total number of shares outstanding as of August 11, 2008 as
reported by the Issuer on the Form 10-Q as filed with the Securities and
Exchange Commission.
(c) Except as set forth below, there have been no transactions in the
shares of Common Stock by any of the Reporting Persons during the past sixty
days.
During the past sixty days, the Reporting Persons effected the
following sales of shares of shares of Common Stock in open market transactions:
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DATE SHARES PURCHASED PRICE
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6/16/08 100,000 2.24
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6/17/08 65,979 2.29
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6/18/08 190,000 2.31
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6/19/08 14,600 2.45
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6/20/08 158,800 2.29
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6/21/08 40,000 2.15
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6/22/08 120,000 2.10
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6/29/08 15,000 1.96
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6/30/08 15,310 2.06
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7/1/08 10,207 2.07
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7/2/08 6,600 1.97
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7/9/08 2,000 1.81
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7/10/08 700 1.81
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7/11/08 12,100 1.76
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7/14/08 11,000 1.75
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7/15/08 10,000 1.70
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7/17/2008 7,402 1.88
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7/18/2008 10,000 2.11
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7/21/2008 1,161 2.20
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7/23/2008 35,215 2.13
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7/25/2008 15,000 2.27
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CUSIP No. 004329108 13D/A Page 5 of 6
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7/28/2008 9,700 2.17
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7/29/2008 2,270 2.21
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7/30/2008 20,000 2.23
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7/31/2008 19,400 2.29
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8/1/2008 30,000 2.27
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8/6/2008 10,200 2.27
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8/7/2008 4,100 2.40
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8/8/2008 400 2.34
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8/11/2008 3,300 2.31
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8/12/2008 20,000 2.17
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8/13/2008 22,400 2.07
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CUSIP No. 004329108 13D/A Page 6 of 6
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.
August 15, 2008
Date
/s/ Aquifer Capital Group, LLC
Signature
Adam M. Mizel/Principal
Name/Title
August 15, 2008
Date
/s/ Adam M. Mizel
Signature
Adam M. Mizel
Name/Title
The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. SEE ss.240.13d-7 for
other parties for whom copies are to be sent.
(1) 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 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).