![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Emtec Inc (CE) | USOTC:ETEC | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
EMTEC, INC.
|
(Name of Issuer)
|
Common Stock, $0.01 Par Value
|
(Title of Class of Securities)
|
292468105
|
(CUSIP Number)
|
Dinesh R. Desai
c/o Emtec, Inc.
11 Diamond Road
Springfield, New Jersey 07081
(973) 376-4242
|
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
|
Copies to:
Stephen M. Leitzell, Esq.
Dechert LLP
Cira Centre
2929 Arch Street
Philadelphia, Pennsylvania 19104
(215) 994-2621
|
August 2, 2010
|
(Date of Event which Requires Filing of this Statement)
|
*
|
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 disclosures provided in a prior cover page.
|
CUSIP No. 292468105
|
|||
1
|
Name of Reporting Person
Dinesh R. Desai
|
||
2
|
Check the Appropriate Box if a Member of a Group
(a) (b)
|
||
3
|
SEC Use Only
|
||
4
|
Source of Funds
OO*
|
||
5
|
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
|
||
6
|
Citizenship or Place of Organization
United States
|
||
Number of Shares Beneficially Owned by Each Reporting Person with
|
7
|
Sole Voting Power
8,785,493**
|
|
8
|
Shared Voting Power
600,000**
|
||
9
|
Sole Dispositive Power
8,785,493**
|
||
10
|
Shared Dispositive Power
600,000**
|
||
11
|
Aggregate Amount Beneficially Owned by Each Reporting Person
9,385,493**
|
||
12
|
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
|
||
13
|
Percentage of Class Represented by Amount in Row (11)
53.8%**
|
||
14
|
Type of Reporting Person
IN
|
(a)
|
As of the date of Amendment No. 1 to this Schedule 13D, Mr. Desai may be deemed to be the beneficial owner of an aggregate of 9,385,493 shares of the Company’s Common Stock, which (i) represents approximately 53.8% of the Company’s outstanding Common Stock and (ii) consists of the following:
|
|
(1)
|
361,272 shares of the Company’s Common Stock (including 114,919 shares of restricted stock granted on November 3, 2006, which vest over a four-year period, 69,583 shares of restricted stock granted on November 26, 2008, which vested on November 26, 2009, and 46,040 shares of restricted stock granted on December 15, 2009, which vest on December 15, 2010), with respect to which Mr. Desai is the direct beneficial owner;
|
|
(2)
|
8,424,221 shares of the Company’s Common Stock (including 1,401,733 shares of the Company’s Common Stock issuable upon exercise of the Warrant), with respect to which Mr. Desai may be deemed to be the indirect beneficial owner through DARR Westwood LLC, of which Mr. Desai is the sole member; and
|
|
(3)
|
600,000 shares of the Company’s Common Stock, with respect to which Mr. Desai may be deemed to be the indirect beneficial owner through DARR Emtec LLC, of which DARR Westwood LLC is the managing member.
|
|
Although Mr. Desai may be deemed to be the indirect beneficial owner of the shares of the Company’s Common Stock held through DARR Westwood LLC and DARR Emtec LLC, he disclaims beneficial ownership over such shares except to the extent of his pecuniary interest therein.
|
(b)
|
(1)
|
Sole power to vote or direct vote: 8,785,493 (See Item 5(a) of this Schedule 13D, as amended.)
|
|
(2)
|
Shared power to vote or direct vote: 600,000
(See Item 5(a) of this Schedule 13D, as amended.)
|
|
(3)
|
Sole power to dispose or direct the disposition: 8,785,493 (See Item 5(a) of this Schedule 13D, as amended.)
|
|
(4)
|
Shared power to dispose or direct the disposition: 600,000
(See Item 5(a) of this Schedule 13D, as amended.)
|
(c)
|
Except as set forth in Item 4 of this Schedule 13D, as amended, which disclosure is incorporated herein by reference, Mr. Desai has not effected any transactions in the Company’s Common Stock during the 60 days immediately preceding the date of Amendment No. 1 to this Schedule 13D.
|
(d)
|
No person other than Mr. Desai is known to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of the Company’s Common Stock described in Item 5(b) above.
|
(e)
|
Not applicable.
|
Exhibit (2)
|
Letter Agreement dated August 2, 2010, between Emtec, Inc. and DARR Westwood LLC (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on August 6, 2010).
|
Exhibit (3)
|
Common Stock Purchase Warrant dated August 2, 2010, issued by Emtec, Inc. to DARR Westwood LLC (incorporated herein by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on August 6, 2010).
|
Dated: August 19, 2010 | ||
|
/s/ Dinesh R. Desai | |
Dinesh R. Desai |
1 Year Emtec (CE) Chart |
1 Month Emtec (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions