- Statement of Ownership (SC 13G)
03 2월 2010 - 8:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ICOP Digital, Inc.
(Name of Issuer)
Common Stock, no par value per share
(Title of Class of Securities)
44930M203
(CUSIP Number)
January 29, 2010
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
a.
o
Rule 13d-1(b)
b.
þ
Rule 13d-1(c)
c.
o
Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting persons 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 (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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1.
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NAMES OF REPORTING PERSONS.
I.R.S. Identification Nos. of above persons (entities only)
Iroquois Capital Management LLC
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
o
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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5.
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6.
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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1,750,000 (see Item 4)
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EACH
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7.
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8.
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SHARED DISPOSITIVE POWER
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1,750,000 (see Item 4)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,750,000 (see Item 4)
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10.
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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o
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.0% (see Item 4)
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12.
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO
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Page 2 of 7
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1
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NAMES OF REPORTING PERSONS.
I.R.S. Identification Nos. of above persons (entities only)
Joshua Silverman
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States of America
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5
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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1,750,000 (see Item 4)
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EACH
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7
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8
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SHARED DISPOSITIVE POWER
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1,750,000 (see Item 4)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,750,000 (see Item 4)
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.0% (see Item 4)
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN; HC
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Page 3 of 7
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1
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NAMES OF REPORTING PERSONS.
I.R.S. Identification Nos. of above persons (entities only)
Richard Abbe
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a)
o
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(b)
o
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States of America
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5
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SOLE VOTING POWER
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NUMBER OF
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0
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SHARES
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6
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SHARED VOTING POWER
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BENEFICIALLY
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OWNED BY
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1,750,000 (see Item 4)
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EACH
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7
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SOLE DISPOSITIVE POWER
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REPORTING
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PERSON
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0
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WITH:
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8
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SHARED DISPOSITIVE POWER
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1,750,000 (see Item 4)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,750,000 (see Item 4)
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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7.0% (see Item 4)
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN; HC
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Page 4 of 7
(a) Name of Issuer
ICOP Digital, Inc. (the
Issuer
)
(b) Address of Issuers Principal Executive Offices
16801 W. 116
th
Street
Lenexa, Kansas 66219
(a) Name of Person Filing
(b) Address of Principal Business Office or, if none, Residence
(c) Citizenship
This Schedule 13G is being filed on behalf of
(i) Iroquois Capital Management LLC, a Delaware limited liability company (
Iroquois
),
(ii) Joshua Silverman, an individual who is a citizen of the United States of America (
Mr. Silverman
) and
(iii) Richard Abbe, an individual who is a citizen of the United States of America (
Mr. Abbe
, together with Iroquois
and Mr. Silverman, the
Reporting Persons
).
The Reporting Persons have entered into a
Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which the Reporting
Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities
Exchange Act of 1934, as amended.
The
principal business office of all of the Reporting Persons is 641 Lexington Avenue,
26
th
Floor, New York, New York 10022.
(d) Title of Class of Securities
Common stock, no par value per share, of the Issuer (the
Common Stock
)
(e) CUSIP Number
44930M203
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Item 3.
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If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
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Not applicable.
(a) and (b):
Immediately following the execution of the Securities Purchase Agreement with the
Issuer on January 29, 2010 (as disclosed in the Form 8-K filed by the Issuer with
the Securities and Exchange Commission on January 29, 2010),
each of the Reporting Persons
may be deemed to beneficially own 1,750,000 shares of Common Stock, and all such
shares of Common Stock in the aggregate represent beneficial ownership of
approximately 7.0% of the Common Stock, based on (1) 23,217,142 shares of Common
Stock issued and outstanding on January 25, 2010, plus (2) 1,750,000 shares of
Common Stock to be issued at the closing of such offering to Iroquois Master Fund
Ltd. (
Iroquois Master Fund
). The foregoing excludes (I) 1,750,000 shares
of Common Stock issuable upon exercise of the Series 1 Warrant to be issued at the
closing of such offering to Iroquois Master Fund because the Series 1 Warrant is not
exercisable until the six month and one day anniversary of the issuance date thereof
(and the Series 1 Warrant also contains a blocker provision under which the holder
thereof does not have the right to exercise the Series 1 Warrant to the extent (but
only to the extent) that such exercise would result in beneficial ownership by the
holder thereof, together with its affiliates, of more than 4.9% of the Common Stock)
and (II) 616,290 shares of Common Stock issuable upon exercise of the
Series 2 Warrant to be issued at the closing of such offering to Iroquois Master
Fund because the Series 2 Warrant contains a blocker provision under which the
holder thereof does not have the right to exercise the Series 2 Warrant to the
extent (but only to the extent) that such exercise would result in beneficial
ownership by the holder thereof, together with its affiliates, of more than 4.9% of
the Common Stock. Without such blocker provisions (and assuming the Series 1 Warrant
is currently
Page 5 of 7
exercisable),
each of the Reporting Persons may be deemed to beneficially own 4,116,290
shares of Common Stock.
(c) Number of shares as to which the person has:
(i) Sole
power to vote or to direct the vote: 0.
(ii) Shared power to vote or to direct the vote: 1,750,000.
(iii) Sole
power to dispose or to direct the disposition of: 0.
(iv) Shared power to dispose or to direct the disposition of: 1,750,000.
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Item 5.
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Ownership of Five Percent or Less of a Class
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Not applicable.
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person.
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Not applicable.
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Item 7.
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
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Not applicable.
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Item 8.
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Identification and Classification of Members of the Group
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Not applicable.
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Item 9.
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Notice of Dissolution of Group
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Not applicable.
By signing below I certify that, to the best of my knowledge and belief, the securities
referred to above were not acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction having that purpose or effect.
Page 6 of 7
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.
Date:
February 2, 2010
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IROQUOIS CAPITAL MANAGEMENT LLC
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By:
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/s/ Joshua Silverman
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Joshua Silverman, Authorized Signatory
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/s/
Joshua Silverman
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Joshua Silverman
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/s/
Richard Abbe
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Richard Abbe
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Page 7 of 7
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