<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Intelect Communications, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
458144-10-2
------------------------------
(CUSIP Number)
December 31, 1999
- --------------------------------------------------------------------------------
Date of Event Which Requires Filing of the 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
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).
Page 1 of 31 Pages
<PAGE>
SCHEDULE 13G
- ----------------------- ---------------------
CUSIP NO. 458144-10-2 PAGE 2 OF 31 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citadel Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2. (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3.
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4.
Delaware limited liability company
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5.
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6.
300,000 Warrants (exercisable into 300,000 shares
OWNED BY of Common Stock)(1)(2)
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7.
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8. 1,748,927 shares of Common Stock
300,000 Warrants (exercisable into 300,000 shares
of Common Stock)(2)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9.
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10.
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11. 3.4% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12.
PN;HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
---------------------- ------------------
CUSIP NO. 458144-10-2 13G Page 3 of 31 Pages
---------------------- ------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citadel Investment Group, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Illinois limited liability company
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
300,000 Warrants (exercisable into 300,000 shares of
Common Stock)/(1)(2)/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,748,927 shares of Common Stock
300,000 Warrants (exercisable into 300,000 shares of
Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
3.4% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
OO; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of
their shares of Common Stock (but not the shares issuable upon exercise
of the Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
--------------------- ------------------
CUSIP NO. 458144-10-2 13G Page 4 of 31 Pages
--------------------- ------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GLB Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware limited partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
300,000 Warrants (exercisable into 300,000 shares of
Common Stock)/(1)(2)/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,748,927 shares of Common Stock
300,000 Warrants (exercisable into 300,000 shares of
Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
3.4% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of
their shares of Common Stock (but not the shares issuable upon exercise
of the Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
===============================================================================
----------------------- ------------------
CUSIP NO. 458144-10-2 13G PAGE 5 of 31 Pages
----------------------- ------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kenneth Griffin
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
U.S. citizen
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
300,000 Warrants (exercisable into 300,000 shares of
OWNED BY Common Stock)/(1)(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 1,748,927 shares of Common Stock
300,000 Warrants (exercisable into 300,000 shares of
Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
3.4% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
CUSIP NO. 458144-10-2 13G Page 6 of 31 Pages
----------- ------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wellington Partners Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Illinois limited partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
103,000 Warrants (exercisable into 103,000 shares of
OWNED BY Common Stock)/(1)(2)/
EACH -----------------------------------------------------------
SOLE DISPOSITIVE POWER
REPORTING 7
PERSON 0
-----------------------------------------------------------
WITH SHARED DISPOSITIVE POWER
8
559,531 shares of Common Stock
103,000 Warrants (exercisable into 103,000 shares of
Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
--------------------- ------------------
CUSIP NO. 458144-10-2 13G Page 7 of 31 Pages
--------------------- ------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WNPH, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware limited liability company
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
68,800 Warrants (exercisable into 68,800 shares of
Common Stock)/(2)/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
68,800 Warrants (exercisable into 68,800 shares of
Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
OO; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 8 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WHC, L.L.C.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware limited liability company
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
68,800 Warrants (exercisable into 68,800 shares
OWNED BY of Common Stock)/(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
68,800 Warrants (exercisable into 68,800 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 OO; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(2)/ See Item 4, Endnote 2.
<PAGE>
SCHEDULE 13G
- ----------------------- ---------------------
CUSIP NO.458144-10-2 PAGE 9 OF 31 Pages
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NP Partners
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda general partnership
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 68,000 Warrants (exercisable into 68,800 shares of
Common Stock)(2)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 68,800 Warrants (exercisable into 68,800 shares of
Common Stock)(2)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 0.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999,
plus the shares of Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 10 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wingate Capital Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
34,200 Warrants (exercisable into 34,200 shares
OWNED BY of Common Stock)/(1)(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
559,531 shares of Common Stock
34,200 Warrants (exercisable into 34,200 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.0% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 11 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kensington Global Strategies Fund, Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
189,200 Warrants (exercisable into 189,200 shares
OWNED BY of Common Stock)/(1)(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,070,116 shares of Common Stock
189,200 Warrants (exercisable into 189,200 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
2.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 12 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fisher Capital Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
66,400 Warrants (exercisable into 66,400 shares
OWNED BY of Common Stock)/(1)(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,070,116 shares of Common Stock
66,400 Warrants (exercisable into 66,400 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
1.9% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 13 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Olympus Securities, Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Bermuda company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
122,800 Warrants (exercisable into 122,800 shares
OWNED BY of Common Stock)/(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
122,800 Warrants (exercisable into 122,800 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.2% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 14 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Orchard Investment Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware limited partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0/(1)/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
20,291 shares of Common Stock/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 15 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Midway Capital Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0/(1)/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
20,291 shares of Common Stock/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 16 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CCG Capital Fund L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware limited partnership
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 6 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN; HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 17 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CCG Capital Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
==============================================================================
CUSIP NO. 458144-10-2 13G PAGE 18 of 31 PAGES
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CCG Investment Fund Ltd.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands company
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 0
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
7,800 Warrants (exercisable into 7,800 shares
OWNED BY of Common Stock)/(1)(2)/
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 0
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
98,989 shares of Common Stock/(2)/
7,800 Warrants (exercisable into 7,800 shares
of Common Stock)/(2)/
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 See Row 8 above.
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.2% as of the date of the filing of this statement. Based on 60,936,573
shares of Common Stock issued and outstanding as of October 31, 1999, plus
the shares of Common Stock issuable upon exercise of the Warrants referred
to in Row 6 above.
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12 CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ See Item 4, Endnote 2.
<PAGE>
- ------------------------ -------------------
CUSIP NO. 458144-10-2 13G Page 19 of 31 Pages
- ------------------------ -------------------
SCHEDULE 13G
------------
Item 1(a) Name of Issuer:
Intelect Communications, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
1100 Executive Drive
Richardson, Texas 75081
Item 2(a) Name of Person Filing
Item 2(b) Address of Principal Business Office or, if none, Residence
Item 2(c) Citizenship
Citadel Limited Partnership
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Illinois limited partnership
Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited liability company
GLB Partners, L.P.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited partnership
Kenneth Griffin
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
U.S. citizen
Wellington Partners Limited Partnership
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Illinois limited partnership
WNPH, L.L.C.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited liability company
<PAGE>
- --------------------- -------------------
CUSIP NO. 458144-10-2 13G Page 20 of 31 Pages
- --------------------- -------------------
WCH, L.L.C.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited liability company
NP Partners
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Bermuda general partnership
Wingate Capital Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Cayman Islands company
Kensington Global Strategies Fund, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Bermuda company
Fisher Capital Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Cayman Islands company
Olympus Securities, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Bermuda company
Orchard Investment Partners, L.P.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited partnership
Midway Capital Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Cayman Islands company
<PAGE>
--------------------- -------------------
CUSIP NO. 458144-10-2 13G Page 21 of 31 Pages
--------------------- -------------------
CCG Capital Fund L.P.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Delaware limited partnership
CCG Capital Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Cayman Islands company
CCG Investment Fund Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9/th/ Floor
Chicago, Illinois 60606
Cayman Islands company
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
458144-10-2
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b) or (c), check whether the person filing is a:
(a) [__] Broker or dealer registered under Section 15 of the
Exchange Act;
(b) [__] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [__] Insurance company as defined in Section 3(a)(19) of the
Exchange Act;
(d) [__] Investment company registered under Section 8 of the
Investment Company Act;
(e) [__] An investment adviser in accordance with Rule 13d-
1(b)(1)(ii)(E);
(f) [__] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [__] A parent holding company or control person in
accordance with Rule 13d-1(b)(ii)(G);
(h) [__] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [__] A church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act;
(j) [__] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box. [X]
<PAGE>
--------------------- -------------------
CUSIP NO. 458144-10-2 13G Page 22 of 31 Pages
--------------------- -------------------
Item 4 Ownership:
CITADEL LIMITED PARTNERSHIP
CITADEL INVESTMENT GROUP, L.L.C.
GLB PARTNERS, L.P.
KENNETH GRIFFIN
(a) Amount beneficially owned:
1,748,927 shares of Common Stock /(1)/
300,000 Warrants (exercisable into 300,000 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
3.4%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
300,000 Warrants (exercisable into 300,000 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
WELLINGTON PARTNERS LIMITED PARTNERSHIP
(a) Amount beneficially owned:
559,531 shares of Common Stock/(1)/
103,000 Warrants (exercisable into 103,000 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
1.1%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
103,000 Warrants (exercisable into 103,000 shares of Common
Stock)/(1)(2)/
<PAGE>
CUSIP NO. 458144-10-2 13G Page 23 of 31 Pages
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
WNPH, L.L.C.
WCH, L.L.C.
NP PARTNERS
(a) Amount Beneficially Owned:
68,800 Warrants (exercisable into 68,800 shares of Common
Stock)/(2)/
(b) Percent of Class:
0.1%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
68,800 Warrants (exercisable into 68,800 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
WINGATE CAPITAL LTD.
(a) Amount Beneficially Owned:
559,531 shares of Common Stock/(1)/
34,200 Warrants (exercisable into 34,200 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
1.0%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
<PAGE>
CUSIP NO. 458144-10-2 13G Page 24 of 31 Pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
68,800 Warrants (exercisable into 68,800 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
KENSINGTON GLOBAL STRATEGIES FUND, LTD.
(a) Amount Beneficially Owned:
1,070,116 shares of Common Stock/(1)/
189,200 Warrants (exercisable into 189,200 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
2.1%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
189,200 Warrants (exercisable into 189,200 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
FISHER CAPITAL LTD.
(a) Amount Beneficially Owned:
1,070,116 shares of Common Stock/(1)/
66,400 Warrants (exercisable into 66,400 shares of Common
Stock)/(1)(2)/
<PAGE>
CUSIP NO. 458144-10-2 13G Page 25 of 31 Pages
(b) Percent of Class:
1.9%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
66,400 Warrants (exercisable into 66,400 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
OLYMPUS SECURITIES LTD.
(a) Amount Beneficially Owned:
122,800 Warrants (exercisable into 122,800 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
0.2%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in
Item (a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
See Item (a) above.
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
<PAGE>
CUSIP NO. 458144-10-2 13G Page 26 of 31 Pages
ORCHARD INVESTMENT PARTNERS, L.P.
MIDWAY CAPITAL LTD.
(a) Amount Beneficially Owned:
20,291 shares of Common Stock/(1)/
(b) Percent of Class:
0.1%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
0/(1)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
CCG CAPITAL FUND L.P.
CCG CAPITAL LTD.
(a) Amount Beneficially Owned:
0
(b) Percent of Class:
0.0%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
0
(iii) sole power to dispose or to direct the disposition of:
0
<PAGE>
- --------------------- -------------------
CUSIP NO. 458144-10-2 13G Page 27 of 31 Pages
- --------------------- -------------------
(iv) shared power to dispose or to direct the disposition of:
0
CCG INVESTMENT FUND LTD.
(a) Amount Beneficially Owned:
98,989 shares of Common Stock/(1)/
7,800 Warrants (exercisable into 7,800 shares of Common
Stock)/(1)(2)/
(b) Percent of Class:
0.2%. Based on 60,936,573 shares of Common Stock issued and
outstanding as of October 31, 1999, plus the shares of Common
Stock issuable upon exercise of the Warrants referred to in Item
(a) above.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0
(ii) shared power to vote or to direct the vote:
7,800 Warrants (exercisable into 7,800 shares of Common
Stock)/(1)(2)/
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition of:
See Item (a) above.
/(1)/ Pursuant to a Settlement Agreement dated June 27, 1999, the holders have
granted to the Issuer or its designee an irrevocable proxy to vote all of their
shares of Common Stock (but not the shares issuable upon exercise of the
Warrants).
/(2)/ None of the holders has the right to exercise Warrants for a number of
shares of Common Stock (i) in excess of the number of shares that, upon giving
effect to such exercise would cause the aggregate number of shares of Common
Stock beneficially owned (as defined in the applicable instruments) by the
holder and its affiliates to exceed 5% of the outstanding shares of Common Stock
following the exercise, or (ii) to the extent that, after giving effect to such
exercise, such holder would have acquired beneficial ownership (as defined in
the applicable instruments) of a number of shares of Common Stock during the 60-
day period ending on and including the date such exercise was implemented (the
"60-Day Period") which, when added to the number of shares of Common Stock
beneficially owned at the beginning of the 60-Day Period, is in excess of 10% of
the shares of Common Stock outstanding immediately after giving effect to such
exercise. This Schedule shall not be construed as an admission that any of the
Reporting Persons is a "beneficial owner" of the Common Stock underlying such
Warrants within the meaning of Rule 13d-3 promulgated under the Securities
Exchange Act of 1933, as amended, as of the date of filing of this
Schedule 13-G.
<PAGE>
- ------------------------ -------------------
CUSIP NO. 458144-10-2 13G Page 28 of 31 Pages
- ------------------------ -------------------
Item 5 Ownership of Five 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 five percent of the class of
securities, check the following [x].
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable.
Item 7 Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on by the Parent Holding Company:
See Item 2 above.
Item 8 Identification and Classification of Members of the Group:
Not Applicable.
Item 9 Notice of Dissolution of Group:
Not Applicable.
Item 10 Certification:
By signing below the undersigned certifies that, to the best of
its knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing or influencing
the control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
<PAGE>
- --------------------- -------------------
CUSIP NO. 458144-10-2 13G Page 29 of 31 Pages
- --------------------- -------------------
SIGNATURE
---------
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: February 11th, 2000 /s/ Kenneth Griffin
--------------------------
Kenneth Griffin
CITADEL INVESTMENT GROUP, L.L.C. GLB PARTNERS, L.P.
By: /s/ Kenneth Griffin By: Citadel Investment Group, L.L.C.,
-------------------------- its general partner
Kenneth Griffin, President
By: /s/ Kenneth Griffin
--------------------------
Kenneth Griffin, President
CITADEL LIMITED PARTNERSHIP WELLINGTON PARTNERS LIMITED
PARTNERSHIP
By: GLB Partners, L.P.,
its general partner By: Citadel Limited Partnership,
its general partner
By: Citadel Investment Group, L.L.C.,
its general partner By: GLB Partners, L.P.,
its general partner
By: /s/ Kenneth Griffin
-------------------------- By: Citadel Investment Group, L.L.C.,
Kenneth Griffin, President its general partner
By: /s/ Kenneth Griffin
--------------------------
Kenneth Griffin, President
WNPH, L.L.C. WCH, L.L.C.
By: Wellington Partners Limited By: Citadel Limited Partnership,
Partnership, its sole member its sole member
By: Citadel Limited Partnership, By: GLB Partners, L.P.,
its general partner its general partner
By: GLB Partners, L.P., By: Citadel Investment Group, L.L.C.,
its general partner its general partner
By: Citadel Investment Group, L.L.C., By: /s/ Kenneth Griffin
its general partner --------------------------
Kenneth Griffin, President
By: /s/ Kenneth Griffin
--------------------------
Kenneth Griffin, President
<PAGE>
CUSIP NO. 458144-10-2 13G Page 30 of 31 Pages
NP PARTNERS WINGATE CAPITAL LTD.
By: WCH, L.L.C., By: Citadel Limited Partnership,
its general partner its trading manager
By: Citadel Limited Partnership, By: GLB Partners, L.P.,
its sole member its general partner
By: GLB Partners, L.P., By: Citadel Investment Group, L.L.C.,
its general partner its general partner
By: Citadel Investment Group, L.L.C., By: /s/ Kenneth Griffin
its general partner ---------------------------------
Kenneth Griffin, President
By: /s/ Kenneth Griffin
--------------------------------
Kenneth Griffin, President
KENSINGTON GLOBAL STRATEGIES FISHER CAPITAL LTD.
FUND, LTD.
By: Citadel Limited Partnership,
By: Citadel Limited Partnership, its trading manager
its trading manager
By: GLB Partners, L.P.,
By: GLB Partners, L.P., its general partner
its general partner
By: Citadel Investment Group, L.L.C.,
By: Citadel Investment Group, L.L.C., its general partner
its general partner
By: /s/ Kenneth Griffin
By: /s/ Kenneth Griffin ----------------------------------
---------------------------------- Kenneth Griffin, President
Kenneth Griffin, President
OLYMPUS SECURITIES, LTD. ORCHARD INVESTMENT PARTNERS,
L.P.
By: Citadel Limited Partnership,
its trading manager By: Citadel Limited Partnership,
its general partner
By: GLB Partners, L.P.,
its general partner By: GLB Partners, L.P.,
its general partner
By: Citadel Investment Group, L.L.C.,
its general partner By: Citadel Investment Group, L.L.C.,
its general partner
By: /s/ Kenneth Griffin
------------------------------ By: /s/ Kenneth Griffin
Kenneth Griffin, President --------------------------------
Kenneth Griffin, President
<PAGE>
- ------------------------ -------------------
CUSIP NO. 458144-10-2 13G Page 31 of 31 Pages
- ------------------------ -------------------
MIDWAY CAPITAL LTD. CCG CAPITAL FUND L.P.
By: Citadel Limited Partnership, By: Citadel Limited Partnership,
its trading manager its general partner
By: GLB Partners, L.P., By: GLB Partners, L.P.,
its general partner its general partner
By: Citadel Investment Group, L.L.C., By: Citadel Investment Group, L.L.C.,
its general partner its general partner
By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin
--------------------------------- --------------------------------
Kenneth Griffin, President Kenneth Griffin, President
CCG CAPITAL LTD. CCG INVESTMENT FUND LTD.
By: Citadel Limited Partnership, By: Citadel Limited Partnership,
its trading manager its trading manager
By: GLB Partners, L.P., By: GLB Partners, L.P.,
its general partner its general partner
By: Citadel Investment Group, L.L.C., By: Citadel Investment Group, L.L.C.,
its general partner its general partner
By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin
--------------------------------- ----------------------------------
Kenneth Griffin, President Kenneth Griffin, President
