Elite Pharmaceuticals Inc /DE/ - Amended Statement of Ownership (SC 13G/A)
12 February 2008 - 7:14AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
ELITE PHARMACEUTICALS, INC.
(Name of Issuer)
COMMON STOCK, $0.01 VALUE PAR SHARE
(Title of Class of Securities)
28659T200
(CUSIP Number)
DECEMBER 31, 2007
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
*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).
PERSONS WHO ARE TO 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 1745 (12-02)
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CUSIP No. 28659T200 13G/A Page 2 of 8 Pages
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
MARK FAIN
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2.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b) |X|
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3. SEC USE ONLY
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4.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 5.
SHARES SOLE VOTING POWER 201,333
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------------------- ----- --------------------------------------------- ----------------------------------------------
BENEFICIALLY 6.
OWNED BY SHARED VOTING POWER 892,831
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EACH 7.
REPORTING SOLE DISPOSITIVE POWER 201,333
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------------------- ----- --------------------------------------------- ----------------------------------------------
PERSON WITH: 8.
SHARED DISPOSTIVE POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
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9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,094,164
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10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.9%
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12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
--------- ---------------------------------------------------------------------------- -------------------------------
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CUSIP No. 28659T200 13G/A Page 3 of 8 Pages
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13.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
CHAD COMITEAU
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14.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b) |X|
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15. SEC USE ONLY
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16.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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------------------- ----- --------------------------------------------- ----------------------------------------------
NUMBER OF 17.
SHARES SOLE VOTING POWER 221,265
------------------- ----- --------------------------------------------- ----------------------------------------------
------------------- ----- --------------------------------------------- ----------------------------------------------
BENEFICIALLY 18.
OWNED BY SHARED VOTING POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
------------------- ----- --------------------------------------------- ----------------------------------------------
EACH 19.
REPORTING SOLE DISPOSITIVE POWER 221,265
------------------- ----- --------------------------------------------- ----------------------------------------------
------------------- ----- --------------------------------------------- ----------------------------------------------
PERSON WITH: 20.
SHARED DISPOSTIVE POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
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21.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,114,096
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22.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (21) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
--------- ------------------------------------------------------------------------------------------------------------
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23.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (21) 5.0%
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24.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
--------- ---------------------------------------------------------------------------- -------------------------------
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CUSIP No. 28659T200 13G/A Page 4 of 8 Pages
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ITEM 1.
(a) Name of Issuer: ELITE PHARMACEUTICALS, INC.
(b) Address of Issuer's Principal Executive Offices: 165 LUDLOW AVENUE, NORTHVALE, NJ 07647
ITEM 2.
(a) Name of Person Filing: THIS STATEMENT IS FILED BY MARK FAIN AND
CHAD COMITEAU.
(b) Address of Principal Business Office or, if none, Residence:
THE ADDRESS OF THE PRINCIPAL BUSINESS OFFICE OF EACH OF THE
REPORTING PERSONS IS
237 PARK AVENUE, SUITE 900, NEW YORK, NY 10017
(c) Citizenship: US
(d) Title of Class of Securities: COMMON STOCK, PAR VALUE $0.01 PER
SHARE
(e) CUSIP Number: 28659T200
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940
(15 U.S.C 80a-8).
(e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance
Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14)
of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
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CUSIP No. 28659T200 13G/A Page 5 of 8 Pages
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ITEM 4. OWNERSHIP.
A. Mark Fain
As of December 31, 2007, Mark Fain
beneficially owned 1,094,164 shares of Common
Stock of Elite Pharmaceuticals, Inc., which
amount includes (i) 168,000 shares
beneficially owned by Mr. Fain over which he
has sole voting power and sole dispositive
power; (ii) 33,333 convertible shares
beneficially owned by Mr. Fain over which he
has sole voting power and sole dispositive
power; (iii) 33,000 shares beneficially owned
by Stratford Management Money Purchase
(a) Amount beneficially owned: Pension Plan over which Mr. Fain has shared
voting power and shared dispositive power;
(iv) 709,831 shares beneficially owed by
Stratford Partners, L.P. of which Mr. Fain is
a Managing Member, and over which Mr. Fain
has shared voting power and shared
dispositive power; and (v) 150,000
convertible shares beneficially owed by
Stratford Partners, L.P. over which Mr. Fain
has shared voting power and shared
dispositive power.
Approximately 4.9% beneficially owned by Mr.
Fain. Calculation of percentage of beneficial
(b) Percent of class: ownership is based on 22,228,000 shares of
Issuer's Common Stock outstanding as of
November 14, 2007 as reported by the Issuer
in its Form 10-K filed on November 14, 2007.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 219,712
(ii) Shared power to vote or to direct the vote: 892,831
(iii) Sole power to dispose or to direct the disposition 219,712
of:
(iv) Shared power to dispose or to direct the disposition 892,831
of:
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CUSIP No. 28659T200 13G/A Page 6 of 8 Pages
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B. Chad Comiteau
As of December 31, 2007, Chad Comiteau
beneficially owned 1,114,096 shares of Common
Stock of Elite Pharmaceuticals, Inc., which
amount includes (i) 188,600 shares
beneficially owned by Mr. Comiteau over which
he has sole voting power and sole dispositive
power; (ii) 32,665 convertible shares
beneficially owned by Mr. Comiteau over which
he has sole voting power and sole dispositive
power; (iii) 33,000 shares beneficially owned
by Stratford Management Money Purchase
(a) Amount beneficially owned: Pension Plan over which he has shared voting
power and shared dispositive power; (iv)
709,831 shares beneficially owed by Stratford
Partners, L.P. of which Mr. Comiteau is a
Managing Member, and over which Mr. Comiteau
has shared voting power and shared
dispositive power; and (v) 150,000
convertible shares beneficially owed by
Stratford Partners, L.P. over which Mr.
Comiteau has shared voting power and shared
dispositive power.
Approximately 5.0% beneficially owned by Mr.
Comiteau. Calculation of percentage of
beneficial ownership is based on 22,228,000
(b) Percent of class: shares of Issuer's Common Stock outstanding
as of November 14, 2007 as reported by the
Issuer in its Form 10-Q filed November 14,
2007.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 221,265
(ii) Shared power to vote or to direct the vote: 892,831
(iii) Sole power to dispose or to direct the disposition 221,265
of:
(iv) Shared power to dispose or to direct the disposition 892,831
of:
ITEM 5 Ownership of 5 Percent or Less of a Class. If this statement is
being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than 5
percent of the class of securities, check the following [X]. This is
applicable for both reporting persons.
ITEM 6-9 Not Applicable
Filing of this statement by Mssrs. Fain and Comiteau shall not be deemed an
admission that they beneficially own the securities reported herein as held in
customer accounts at Stratford Partners, L.P. Mssrs. Fain and Comiteau expressly
disclaim beneficial ownership of all securities held in such customer accounts.
No single client's interest as reported in the customer accounts at Stratford
Partners, L.P. exceeds 5% of the outstanding Common Stock of the Issuer.
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CUSIP No. 28659T200 13G/A Page 7 of 8 Pages
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ITEM 10. CERTIFICATION
The following certification shall be included if the statement
is filed pursuant to ss.240.13d-1(b):
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired and are held in the ordinary course of
business and were
(a) 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. [X]
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CUSIP No. 28659T200 13G/A Page 8 of 8 Pages
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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.
February 5, 2008
Date
/s/ Mark Fain
-------------
Signature
Mark Fain
Name/Title
February 5, 2008
Date
/s/ Chad Comiteau
-----------------
Signature
Chad Comiteau
Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. SEE ss.240.13d-7 for other
parties for whom copies are to be sent.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
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