CUSIP NO.
532403201
|
Page
2 of 6
|
|
1.
|
NAMES
OF REPORTING PERSONS.
Bryan Ezralow
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b)
☐
|
|
3.
|
SEC
USE ONLY
|
|
|
|
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
USA
|
|
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH REPORTING
PERSON WITH
|
|
|
5.
|
SOLE
VOTING POWER
|
1,312,957
|
|
6.
|
SHARED
VOTING POWER
|
2,654,023
|
|
7.
|
SOLE
DISPOSITIVE POWER
|
1,312,957
|
|
8.
|
SHARED
DISPOSITIVE POWER
|
2,654,023
|
|
|
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
3,966,980
|
|
|
|
|
|
|
|
|
|
|
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN
SHARES
|
☐
|
|
|
|
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.32%
|
|
12.
|
TYPE
OF REPORTING PERSON
IN
|
|
|
|
CUSIP NO.
532403201
|
Page
3 of 6
|
Item
1(a). Name of Issuer.
Lilis
Energy, Inc. (the “Issuer”).
Item
1(b). Address of Issuer’s Principal Executive Offices.
300
East Sonterra, Blvd. Suite 1220
San Antonio, TX 78258
Item
2(a). Name of Person Filing.
The
name of the person filing is:
Bryan
Ezralow
Item
2(b). Address of Principal Business Office, or, if None, Residence.
23622
Calabasas Road, Suite 200
Calabasas,
CA 91302
Item
2(c). Citizenship.
United
States.
Item
2(d). Title of Class of Securities.
The
title of the class of securities to which this statement relates is the common stock of the Issuer, $0.0001 par value per share
(the “Common Stock”).
Item
2(e). CUSIP No.
532403201
|
Item
3.
|
If
This Statement is Filed Pursuant to Rule 13d-1(b) or 13d-2(b), Check Whether the Person
Filing is a:
|
Not
Applicable.
The
percentages used herein and in the rest of this Schedule 13G are calculated based upon a total of 91,736,516 shares of Common
Stock issued and outstanding as of November 6, 2019, as reported in the Issuer’s Form 10-Q for the quarterly period ended
September 30, 2019, filed with the Securities and Exchange Commission on November 7, 2019.
(a) Amount
beneficially owned: 3,966,980.
Bryan
Ezralow may be deemed to beneficially own 3,966,980 shares of the Issuer’s Common Stock, as more fully set forth herein.
CUSIP NO.
532403201
|
Page
4 of 6
|
Collectively,
the shares of Common Stock reported herein in which Bryan Ezralow has shared voting and dispositive power over such shares is
an aggregate of 2,654,023 shares. Such shares are held directly by (a) the Ezralow Family Trust u/t/d 12/9/1980 (the “Family
Trust”) in the amount of 116,833 shares, where Bryan Ezralow as a co-trustee of the Family Trust shares voting and dispositive
power over such shares, and thus, may be deemed to beneficially own such shares; (b) the Ezralow Marital Trust u/t/d 1/12/2002
(the “Marital Trust”) in the amount of 124,298 shares, where Bryan Ezralow as a co-trustee of the Marital Trust
shares voting and dispositive power over such shares, and thus, may be deemed to beneficially own such shares; (c) Elevado Investment
Company, LLC, a Delaware limited liability company (“Elevado Investment”), in the amount of 496,318 shares,
where Bryan Ezralow as a co-trustee and manager, respectively, of the two trusts and limited liability company that comprise the
managing members of Elevado Investment, shares voting and dispositive power over such shares, and thus, may be deemed to beneficially
own such shares; (d) EMSE LLC (“EMSE”), a Delaware limited liability company, in the amount of 725,545 shares,
where Bryan Ezralow, as a manager of EMSE, shares voting and dispositive power over such shares, and thus, may be deemed to beneficially
own such shares; (e) EZ Colony Partners, LLC, a Delaware limited liability company (“EZ Colony”), in the amount
of 1,076,026 shares, where Bryan Ezralow as the sole trustee of one of the trusts that is a manager of EZ Colony, shares voting
and dispositive power over such shares, and thus, may be deemed to beneficially own such shares; and (f) EZ MM&B Holdings,
LLC, a Delaware limited liability company (“EZ MM&B”), in the amount of 115,003 shares, where Bryan Ezralow
as the sole trustee of one of the trusts that is a manager of EZ MM&B, and as a co-trustee and manager, respectively, of the
two trusts and limited liability company that comprise the managing members of one of the other managers of EZ MM&B, shares
voting and dispositive power over such shares, and thus, may be deemed to beneficially own such shares.
Collectively,
the shares of Common Stock reported herein in which Bryan Ezralow has sole voting and dispositive power over such shares are 1,312,957
shares. Such shares are held directly by (a) the Bryan Ezralow 1994 Trust u/t/d/ 12/22/1994, Bryan Ezralow, Trustee (the “Bryan
Trust”) in the amount of 1,152,750 shares, where Bryan Ezralow as sole trustee of the Bryan Trust has sole voting and
dispositive power over such shares, and thus, may be deemed to beneficially own such shares; and (b) the Marc Ezralow Irrevocable
Trust u/t/d 6/1/2004 (the “Irrevocable Trust”) in the amount of 160,207 shares, where Bryan Ezralow as sole
trustee of the Irrevocable Trust has sole voting and dispositive power over such shares, and thus, may be deemed to beneficially
own such shares.
The
sum of the shares of Common Stock over which Bryan Ezralow shares voting and dispositive power (2,654,023 shares) and the shares
of Common Stock over which Bryan Ezralow has sole voting and dispositive power (1,312,957 shares) is 3,966,980. Based on the total
of 91,736,516 shares of Common Stock of the Issuer issued and outstanding as of November 6, 2019, as reported in the Issuer’s
Form 10-Q for the quarterly period ended September 30, 2019, filed with the Securities and Exchange Commission on November 7,
2019, Bryan Ezralow may be deemed to beneficially own an aggregate of 4.32% of the Issuer’s Common Stock. Neither the fact
of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Person that he has formed a group
with any of the other entities or individuals referenced herein.
|
(b)
|
Percent
of class: 4.32%.
|
|
(c)
|
Number
of shares as to which such person has:
|
|
(i)
|
Sole
power to vote or direct the vote: 1,312,957.
|
|
(ii)
|
Shared
power to vote or direct the vote: 2,654,023.
|
|
(iii)
|
Sole
power to dispose or direct the disposition: 1,312,957.
|
|
(iv)
|
Shared
power to dispose or direct the disposition: 2,654,023.
|
|
Item
5.
|
Ownership
of Five Percent or Less of a Class.
|
If
this Schedule 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 five percent of the class of securities, check the following ☒.
|
Item
6.
|
Ownership
of More than Five Percent on Behalf of Another Person.
|
Not
Applicable.
CUSIP NO.
532403201
|
Page
5 of 6
|
|
Item
7.
|
Identification
and Classification of the Subsidiary Which Acquired the Security Being Reported on by
the Parent Holding Company or Control Person.
|
Not
Applicable.
|
Item
8.
|
Identification
and Classification of Members of the Group.
|
Not
Applicable.
|
Item
9.
|
Notice
of Dissolution of Group.
|
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.
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.
Dated: November
29, 2019
|
/s/
Bryan Ezralow
|
|
Bryan
Ezralow
|