SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN THE STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. 3)*
North American Scientific, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
65715D209
(CUSIP Number)
January 18, 2008
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
*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 (“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).
SCHEDULE 13G
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CUSIP NO. 65715D209
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2 of 6
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1
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NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Michael A. Roth and Brian J. Stark, as joint filers pursuant to Rule 13d-1(k)
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
x
(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
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
13,365,234 shares of Common Stock (See Item 4)
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
13,365,234 shares of Common Stock (See Item 4)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,365,234 shares of Common Stock (See Item 4)
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
x
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1
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.4% (See Item 4)
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12
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TYPE OF REPORTING PERSON
IN
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SCHEDULE 13G
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CUSIP NO. 65715D209
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3 of 6
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Item 1(a).
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Name of Issuer:
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North American Scientific, Inc. (the “Issuer”).
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Item 1(b).
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Address of Issuer’s Principal Executive Offices:
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20200 Sunburst Street
Chatsworth, CA 91311
Items 2(a),
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(b) and (c).
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Name of Persons Filing
,
Address of Principal Business Office and
Citizenship:
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This Amendment No. 3 to Schedule 13G is being filed on behalf of Michael A. Roth and Brian J. Stark, as joint filers (collectively, the “Reporting Persons”).
The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Amendment No. 3 to Schedule 13G as Exhibit 1, pursuant to which the Reporting Persons have agreed to file this Amendment No. 3 to Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”).
The principal business office of the Reporting Persons is 3600 South Lake Drive, St. Francis, WI 53235. The Reporting Persons are citizens of the United States of America.
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Item 2(d).
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Title of Class of Securities:
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Common Stock, par value $0.01 per share (the “Common Stock”)
65715D209
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(a)
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Amount beneficially owned
:
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13,365,234 shares of Common Stock (See Item 4)
Based on 92,609,492 shares of Common Stock outstanding as indicated on Issuer’s Schedule 14A filed on December 31, 2007 and 508,130 shares of Common Stock issuable upon the exercise of warrants held by the Reporting Persons, the Reporting Persons hold approximately 14.4%* of the issued and outstanding Common Stock of the Issuer.
SCHEDULE 13G
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CUSIP NO. 65715D209
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4 of 6
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(c)
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Number of shares to which such person has:
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(i)
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Sole power to vote or direct the vote: 0
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(ii)
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Shared power to vote or direct the vote: 13,365,234 shares of Common Stock*
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(iii)
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Sole power to dispose or to direct the disposition of: 0
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(iv)
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Shared power to dispose of or direct the disposition of: 13,365,234 shares of Common Stock*
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*The Reporting Persons beneficially own an aggregate of 13,365,234 shares of Common Stock. The foregoing amount of Common Stock and percentage ownership represent the combined indirect holdings of Michael A. Roth and Brian J. Stark. The shares of Common Stock reported in this Amendment No. 3. to Schedule 13G does not include 1,280,409 shares of Common Stock issuable upon the
exercise of warrants held by the Reporting Persons. Such warrants held by the Reporting Persons are subject to conversion caps that preclude the holder thereof from utilizing its exercise rights to the extent that it would beneficially own (determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) in excess of 4.99% and 9.99% of the Common Stock, giving effect to such exercise.
All of the foregoing represents an aggregate of 13,365,234 shares of Common Stock held directly by SF Capital Partners Ltd. (“SF Capital”). The Reporting Persons direct the management of Stark Offshore Management LLC (“Stark Offshore”), which acts as the investment manager and has sole power to direct the management of SF Capital. As the Managing Members of
Stark Offshore, the Reporting Persons possess voting and dispositive power over all of the foregoing shares. Therefore, for the purposes of Rule 13d-3 under the Exchange Act, the Reporting Persons may be deemed to be the beneficial owners of, but hereby disclaim such beneficial ownership of, the foregoing shares.
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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 By the Parent Holding Company.
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Not applicable
SCHEDULE 13G
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CUSIP NO. 65715D209
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5 of 6
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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 a 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.
SCHEDULE 13G
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CUSIP NO. 65715D209
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6 of 6
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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.
/s/ Michael A. Roth
Michael A. Roth
/s/ Brian J. Stark
Brian J. Stark