SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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)
VIRAGEN, INC.
(Name of Issuer)
COMMON STOCK PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
9276388106
(CUSIP Number)
THE ISOSCELES FUND LIMITED
c/o Citco Fund Services Ltd.
BAHAMAS FINANCIAL CENTER, 3rd FLOOR
SHIRLEY & CHARLOTTE STREETS
P.O. BOX CB 13136
NASSAU, BAHAMAS
Attention: Ruth Beneby
(242) 356-5928
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 6, 1999
(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 that 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. |_|
(Continued on following pages)
(Page 1 of 6 Pages)
[Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See
Rule 13d-7 for other parties to whom copies are to be sent.]
[1The 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.]
<PAGE>
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CUSIP No. 927638106 13D Page 2 of 6
- -------------------------------- -------------------------------
============ ===================================================================
1.
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY)
The Isosceles Fund Limited
N/A
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2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)|_|
(b)|_|
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3.
SEC USE ONLY
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4.
SOURCE OF FUNDS
WC
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
|_|
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Nassau, Bahamas
- ------------------------- ------- ==============================================
7.
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 4,606,838
OWNED BY
EACH
REPORTING
PERSON WITH
------- ==============================================
8.
SHARED VOTING POWER
N/A
------- ==============================================
9.
SOLE DISPOSITIVE POWER
4,606,838
------- ==============================================
10.
SHARED DISPOSITIVE POWER
N/A
============ ===================================================================
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,606,838
============ ===================================================================
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|-|
============ ===================================================================
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1
============ ===================================================================
14.
TYPE OF REPORTING PERSON
CO
============ ===================================================================
<PAGE>
SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
This Statement relates to Common Stock, of Viragen, Inc., a Delaware
corporation, (the "Issuer"). The Issuer's principal executive offices are
located at 865 S.W. 78th Avenue, Suite 100, Plantation, FL 33324.
ITEM 2. IDENTITY AND BACKGROUND.
Name: The Isosceles Fund Limited
Place of organization: Nassau, Bahamas
Principal business: Investment
Address of principal office: Bahamas Financial Center, 3rd Floor
Shirley & Charlotte Streets
P.O. Box 13136
Information required by items 2(d) and 2(e): During the last five
years, The Isosceles Fund Limited (i) has not been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors); and (ii) was not 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 further violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or
finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Working Capital
ITEM 4. PURPOSE OF TRANSACTION.
Investment and potential subsequent resale.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
6.1%
4,606,838 shares
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
N/A
<PAGE>
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 2, 1999
THE ISOSCELES FUND LIMITED
By: /s/ Andrew Dipkin
______________________________
Name: Andrew Dipkin
Title: Authorized Signatory of
Inter-Caribbean Service (Bahamas) Ltd.,
Director of The Isosceles Fund Limited
By: /s/ Carl O'Connell
___________________________
Name: Carl O'Connell
Title: Authorized Signatory of
Inter-Caribbean Service (Bahamas) Ltd.,
Director of The Isosceles Fund Limited
