<PAGE> 1
SCHEDULE 13D
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
Electric City Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.0001 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
284868 10 6
- --------------------------------------------------------------------------------
(CUSIP Number)
NCVC, L.L.C
c/o Nightingale Conant Corporation
7300 North Lehigh Avenue
Niles, Illinois 60714
Attention: Victor L. Conant
(847) 647-0306
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 13, 2000
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
*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.
The information required on 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).
(Continued on following pages)
(Page 1 of 10 Pages)
<PAGE> 2
CUSIP NO. 284868 10 6 13D PAGE 2 OF 10 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
NCVC, L.L.C
(FEIN Number)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
10,974,998
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
10,974,998
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,974,998
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.06%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO-Limited Liability Company
- --------------------------------------------------------------------------------
<PAGE> 3
CUSIP NO. 284868 10 6 13D PAGE 3 OF 10 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Victor L. Conant
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
-0-
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
10,974,998(1)
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
-0-
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,974,998(1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,974,998(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.06%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE> 4
CUSIP NO. 284868 10 6 13D PAGE 4 OF 10 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Kevin P. McEneely
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
-0-
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
10,974,998(1)
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
-0-
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,974,998(1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,974,998
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.06%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE> 5
CUSIP NO. 284868 10 6 13D PAGE 5 OF 10 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
DYDX Consulting LLC
(FEIN Number)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
-0-
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
10,974,998(1)
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
-0-
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,974,998(1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,974,998(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.06%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO-Limited Liability Company
- --------------------------------------------------------------------------------
(1) Solely in his capacity as a Member of NCVC, L.L.C.
<PAGE> 6
CUSIP NO. 284868 10 6 13D PAGE 6 OF 10 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Nikolas Konstant
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
-0-
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
10,974,998(1)
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
-0-
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,974,998(1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,974,998(1)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.06%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
(1) Solely in his capacity as Managing Member of DYDX Consulting, L.L.C, a
Member of NCVC, L.L.C.
<PAGE> 7
Item 1. Security and Issuer.
The title of the class of the equity securities to which this
Statement relates is the Common Stock, par value $.0001 per share (the "Common
Stock"), of Electric City Corporation (the "Company"). The address of the
principal executive offices of the Company is 1280 Landmeier Road, Elk Grove
Village, Illinois 60007.
Item 2. Identity and Background.
(a) The record holder of the shares of Common Stock to which this
Statement relates in NCVC, L.L.C., a Delaware limited liability company
("NCVC"). Membership interests in NCVC are held by DYDX Consulting LLC, a
Delaware limited liability company ("DYDX"), Victor L. Conant ("Mr.
Conant"), Mr. Conant's spouse and trusts for the benefit of Mr. Conant's
children, Kevin P. McEneely ("Mr. McEneely"), Mr. McEneely's adult
children, Pam Aronson and Earl Nightingale, Jr. Nikolas Konstant ("Mr.
Konstant") is the sole member and manager of DYDX. NCVC, DYDX, Mr. Conant,
Mr. McEneely and Mr. Konstant are referred to in this statement
collectively as the "Reporting Persons."
(b) The business address of each of the Reporting Persons is 7300
North Lehigh Avenue, Niles, Illinois 60714.
(c) The principal business of NCVC is investment. The principal
business of DYDX is investment and business and financial advisory and
consulting. Mr. Conant is a principal stockholder, director and executive
officer of Nightingale Conant Corporation, a producer and distributor of
audio and video tapes. Mr. McEneely is a shareholder and a director of
Nightingale Conant Corporation and is the former Executive Vice President,
Chief Operating Officer and Secretary of that company. The principal
business address of Nightingale Conant Corporation is 7300 North Lehigh
Avenue, Niles, Illinois 60714. Both Mr. Conant and Mr. McEneely are
directors of the Company. Mr. Konstant is a private investor and provides
business and financial advisory and consulting services.
(d) During the last five years, none of the Reporting Persons has
been convicted in a criminal proceeding (excluding traffic violations and
similar misdemeanors).
(e) During the last five years, none of the Reporting Persons was
a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is
subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, the federal or
state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The Common Stock to which this Statement relates was acquired by
NCVC from the Company using the proceeds of a $1.5 million capital
contribution to NCVC by Mr. Conant, Mr. Conant's spouse and trusts for the
benefit of Mr. Conant's children, Mr. McEneely, Mr. McEneely's adult
children, Pam Aronson and Earl Nightingale, Jr. The source of the capital
contribution made by such persons was personal funds.
Item 4. Purpose of Transaction.
The Reporting Persons hold the Common Stock to which this
Statement relates for purposes of investment. None of the Reporting Persons
presently has any plan or proposal which relates to or would result in any
transaction of the types described in Item 4 (a) through (j) of Schedule 13D.
(Page 7 of 10 Pages)
<PAGE> 8
Item 5. Interest in Securities of the Issuer.
(a) and (b) The following table sets forth the aggregate number
and percentage of the Common Stock which may, pursuant to Rule 13d-3 under the
Securities Exchange Act of 1934, as amended (the "Securities Act"), be deemed to
be beneficially owned by each Reporting Person. Under the terms of the Amended
and Restated Operating Agreement of NCVC dated as of January 1, 1998, as further
amended as of April 1, 1999 (the "Operating Agreement"), each of Mr. Conant, Mr.
McEneely, DYDX and Mr. Konstant may, under certain circumstances, may have the
right to exercise shared power to vote or to direct the voting of, and shared
power to dispose or to direct the disposition of, the Common Stock to which this
Statement relates.
<TABLE>
<CAPTION>
Percentage Beneficial
Reporting Person Shares Beneficially Owned(1) Ownership(1)(6)
---------------- ---------------------------- ----------------------
<S> <C> <C>
NCVC, L.L.C. 10,974,998 42.06%
Victor L. Conant 10,974,998(2) 42.06%
Kevin P. McEneely 10,974,998(3) 42.06%
DYDX Consulting LLC 10,974,998(4) 42.06%
Nikolas Konstant 10,974,998(5) 42.06%
</TABLE>
---------------
(1) The indicated shares beneficially owned and
percentage beneficial ownership includes
2,000,000 shares of Common Stock issuable upon
the exercise of currently exercisable stock
options. The stock options are exercisable at a
price of $1.10 per share and expire on June 24,
2008.
(2) Solely in his capacity as a Manager of NCVC.
Excludes an aggregate of 470,740 shares of Common
Stock held in trust for Carson Conant and Chappel
Conant, Mr. Conant's adult children, as to which
Mr. Conant disclaims beneficial ownership.
(3) Solely in his capacity as a Manager of NCVC.
Excludes an aggregate of 448,856 shares held by
Patrick McEneely and Ryan McEneely, Mr.
McEneely's adult children, as to which Mr.
McEneely disclaims beneficial ownership.
(4) Solely in its capacity as a Member of NCVC.
(5) Solely in his capacity as the Managing Member of
DYDX.
(6) Based on 26,091,500 shares of Common Stock
outstanding as of October 31, 1999 as reported in
the Company's Form 10-QSB.
(c) Mr. Konstant has sold 150,000 shares of Common Stock
through brokered open market transactions as follows:
Date Number of Shares Sold Price per share
---- --------------------- ---------------
2/11/00 50,000 $9.0000
2/14/00 2,000 $8.6250
2/14/00 2,000 $8.3750
2/16/00 8,000 $8.8340
(Page 8 of 10 Pages)
<PAGE> 9
2/17/00 5,000 $8.4375
2/18/00 3,000 $8.1875
2/22/00 12,000 $8.1406
2/23/00 8,000 $8.0313
2/24/00 14,000 $7.5614
2/25/00 8,000 $7.3984
2/28/00 7,000 $7.7857
2/29/00 21,000 $8.3899
3/01/00 10,000 $7.8750
(d) The following table sets forth the persons known to have
the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the
Common Stock held of record by NCVC.
Person Percentage Interest(1)
------ -------------------
DYDX Consulting LLC 50%
Victor L. Conant 9.4084%
Marilee Conant 9.4084%
Carson Conant Trust 2.4973%
Chappell Conant Trust 2.4973%
Kevin P. McEneely 19.0492%
Patrick McEneely 2.3812%
Ryan McEneely 2.3812%
Pam Aronson 1.1885%
Earl Nightingale, Jr. 1.1885%
------------
(1) Based on the indicated person's percentage Class B
Membership Interest in NCVC.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Under the terms of the Operating Agreement, Mr. Conant and Mr.
McEneely serve as the Managers of NCVC and have the right to exercise shared
power to vote or to direct the voting of, and shared power to dispose or to
direct the disposition of, the Common Stock to which this Statement relates.
DYDX has the right under the Operating Agreement to require that NCVC distribute
to it its allocable share, based on its percentage membership interest in NCVC,
of the shares of Common Stock held by NCVC. DYDX is entitled to exercise this
right at any time without the approval of the Managers or other Members of NCVC.
Item 7. Material to Be Filed as Exhibits.
Not Applicable.
(Page 9 of 10 Pages)
<PAGE> 10
SIGNATURES
After reasonable inquiry and to the best of his or its knowledge
and belief, each Reporting Persons certifies that the information set forth in
this Statement is true, complete and correct.
March __, 2000 NCVC, L.L.C.
By
---------------------------------
Victor L. Conant
Manager
March __, 2000 -----------------------------------
Victor L. Conant
/s/ Kevin P. McEneely
March 6, 2000 -----------------------------------
Kevin P. McEneely
March __, 2000 DYDX Consulting LLC
By
---------------------------------
Nikolas Konstant
Managing Member
March __, 2000 -----------------------------------
Nikolas Konstant
<PAGE> 11
SIGNATURES
After reasonable inquiry and to the best of his or its knowledge
and belief, each Reporting Persons certifies that the information set forth in
this Statement is true, complete and correct.
March 3, 2000 NCVC, L.L.C.
By /s/ Victor L. Conant
---------------------------------
Victor L. Conant
Manager
/s/ Victor L. Conant
March 3, 2000 -----------------------------------
Victor L. Conant
March __, 2000 -----------------------------------
Kevin P. McEneely
March 9, 2000 DYDX Consulting LLC
By /s/ Nikolas Konstant
---------------------------------
Nikolas Konstant
Managing Member
/s/ Nikolas Konstant
March 9, 2000 -----------------------------------
Nikolas Konstant
