UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Series A Senior Convertible Preferred Stock | 11/30/2004 | Â (2) | Common Stock | 833,000 (1) | $ 0.3 (1) | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Cerrito Partners 1000 LOUISIANA, SUITE1500 HOUSTON, TX 77002 |
 |  X |  |  |
/s/ Steven A. Webster, Managing Partner of Cerrito Partners | 01/14/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Refers to shares of Series A Senior Convertible Preferred Stock acquired by the Reporting Person pursuant to the terms of a certain Securities Purchase Agreement dated as of November 30, 2004 among the issuer, the Reporting Person, Steven A. Webster, the managing partner of the Reporting Person, and the other persons signatory thereto (the "Securities Purchase Agreement"). The initial conversion price per share is $.30 (subject to adjustment); each share of Series A Preferred Stock is immediately convertible into 1,000 shares of common stock of the issuer (subject to adjustment upon the occurrence of certain events), at the option of the holder. |
(2) | Not applicable. |
 Remarks: Although the percentage of shares owned of record by the Reporting Person is only approximately 4.2%, if the Reporting Person and the other Blackhawk Shareholders (as hereinafter defined) are deemed to constitute a "group" within the meaning of Rule 13d-5(b)(1) under the Exchange Act, whether (i) because they may have acted in concert in connection with the acquisition of securities pursuant to the Securities Purchase Agreement and/or a prior securities purchase agreement and/or (ii) because the shares acquired by the Reporting Person may be subject to the terms and conditions of that certain Shareholders Agreement dated as of May 2, 2003 (the "Shareholders Agreement") among Steven A. Webster ("Webster"), the managing partner of the Reporting Person, and certain affiliated persons and/or entities of Webster, on the one hand (collectively, the "Blackhawk Shareholders"), Valentis SB, L.P., on the other  hand, and the issuer, then the Reporting Person might be deemed to be a 10% Owner for Section 16 purposes. The Reporting Person disclaims beneficial ownership of the securities of the issuer (including shares of Common Stock) beneficially owned by the other parties to the Securities Purchase Agreement and/or the Shareholders Agreement. |