|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN 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 |
|
| |||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Series A Senior Convertible Preferred Stock | $ 0.3 (2) | 11/30/2004 | P | 184 (2) | 11/30/2004 | (3) | Common Stock | 184,000 (2) | $ 300 | 184 (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
ONeill Thomas H Jr 50 FOUNTAIN PLAZA, SUITE 1220 BUFFALO, NY 14202 |
X |
/s/ THOMAS H. O'NEILL, JR. | 01/14/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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 Common Stock owned by Somerset Capital Partners ("SCP"), a general partnership in which the Reporting Person is one of three general partners and owner of one-third of the partnership interests; does not include shares for which SCP may be deemed to share beneficial ownership by virtue of SCP being a party to the Shareholders Agreement (as defined below). Since SCP is a party to the Shareholders Agreement and the Reporting Person is one of three partners of SCP, the Reporting Person joined in the group Schedule 13D filing of the Blackhawk Shareholders (as defined below). The Reporting Person disclaims beneficial ownership of the shares of Common Stock (i) beneficially owned by all of the parties to the Shareholders Agreement other than SCP and (ii) owned by SCP that are in excess of his pecuniary interest therein. |
(2) | 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, the other two partners of SCP 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. |
(3) | Not applicable. |
Remarks: Although the percentage of shares owned of record by the Reporting Person and SCP in the aggregate is only approximately 2.7%, if the Reporting Person, SCP 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) by virtue of that certain ShareholdersAgreement dated as of May 2, 2003 (the "Shareholders Agreement") among SCP and certain affiliated persons and/or entities, on the one hand (collectively, the "Blackhawk Shareholders"), Valentis SB, L.P., on the other hand, and the issuer, or (ii) 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, then the Reporting Person might be deemed to be a10% 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, other than SCP. |