UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Quentra Networks, Inc. (formerly, Coyote Network Systems, Inc.)
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
22406P 108
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(CUSIP Number)
February 3, 2000
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(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 5
<PAGE>
CUSIP No. 22406P 108
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1. Names Of Reporting Persons
I.R.S. Identification Nos. of above persons
(entities only)
LEON G. COOPERMAN
S.S. No. ###-##-####
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2. Check Appropriate Box if a Member of a Group *
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
UNITED STATES
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(5) Sole Voting Power
708,299
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Number of (6) Shared Voting Power
Shares Bene- 344,333
ficially
Owned by ---------------------------------------------------------------
Each Report- (7) Sole Dispositive Power
ing Person 708,299
With:
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(8) Shared Dispositive Power
344,333
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9. Aggregate Amount Beneficially Owned by Each Reporting Person:
1,052,632
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares *
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11. Percent of Class Represented by Amount in Row (11):
7.4%
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12. Type of Reporting Person*
IN
* See Instructions Before Filling Out.
Page 2 of 5
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CUSIP No. 22406P 108
Item 1(a). Name of Issuer:
Quentra Networks, Inc. (the "Issuer").
Item 1(b). Address of the Issuer's Principal Executive Offices:
1640 South Sepulveda Boulevard
Suite 222
Los Angeles, CA 90025
Item 2(a). Name of Person Filing:
This statement is filed on behalf of Leon G. Cooperman ("Mr.
Cooperman").
Mr. Cooperman is the Managing Member of Omega Associates, L.L.C.
("Associates"), a limited liability company organized under the laws of the
State of Delaware. Associates is a private investment firm formed to invest
in and act as general partner of investment partnerships or similar investment
vehicles. Associates is the general partner of three limited partnerships
organized under the laws of Delaware known as Omega Capital Partners, L.P.
("Capital LP"), Omega Institutional Partners, L.P. ("Institutional LP"), and
Omega Capital Investors, L.P. ("Investors LP"). These entities are private
investment firms engaged in the purchased and sale of securities for
investment for their own accounts.
Mr. Cooperman is the President and majority stockholder of Omega
Advisors, Inc. ("Advisors"), a Delaware corporation, engaged in providing
investment management services and is deemed to control said entity. Advisors
serves as the investment manager to Omega Overseas Partners, Ltd.
("Overseas"), a Cayman Islands exempted company, with a business address at
British American Tower, Third Floor, Jennrett Street, Georgetown, Grand Cayman
Island, British West Indies. Mr. Cooperman has investment discretion over
portfolio investments of Overseas and is deemed to control such investments.
Advisors also serves as a discretionary investment advisor to a
limited number of institutional clients (the "Managed Accounts"). As to the
Shares owned by the Managed Accounts, there would be shared power to dispose
or to direct the disposition of such Shares because the owners of the Managed
Accounts may be deemed beneficial owners of such Shares pursuant to Rule 13d-3
under the Act as a result of their right to terminate the discretionary
account within a period of 60 days.
Mr. Cooperman is the ultimate controlling person of Associates,
Capital LP, Institutional LP, Investors LP and Advisors.
Item 2(b) Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of Mr.
Cooperman, Capital LP, Institutional LP, Investors LP, Overseas, and Advisors
is 88 Pine Street, Wall Street Plaza - 31st Floor, New York, New York 10005.
Item 2(c) Citizenship:
Mr. Cooperman is a United States citizen;
Page 3 of 5
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CUSIP No. 22406P 108
Item 2(d) Title of Class of Securities:
Common Stock, (the "Shares")
Item 2(e) CUSIP Number: 22406P 108
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c):
This Item 3 is not applicable.
Item 4. Ownership.
Item 4(a) (b) Amount Beneficially Owned and Percent of Class:
As of February 3, 2000, Mr. Cooperman may be deemed the beneficial
owner of 1,052,632 Shares which constitutes approximately 7.4% of the sum of
the total number of Shares outstanding plus the Shares (which, as Convertible
Shares, are included in the calculation of outstanding Shares pursuant to
Section 240.13d-3(d)(1)(i)(D)). The Company's Form 10-Q for the quarterly
period ended September 30, 1999 reflected 13,094,049 Shares outstanding as of
November 9, 1999.
This consists of 346,870 Shares owned by Capital LP; 15,303 Shares
owned by Institutional LP; 31,732 Shares owned by Investors LP; 314,394 Shares
owned by Overseas; and 344,333 Shares owned by the Managed Accounts.
Item 4(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote:
708,299
(ii) Shared power to vote or to direct the vote:
344,333
(iii) Sole power to dispose or to direct the disposition of:
708,299
(iv) Shared power to dispose or to direct the disposition of:
344,333
Item 5. Ownership of Five Percent or Less of a Class.
This Item 5 is not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
This Item 6 is not applicable.
Page 4 of 5
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CUSIP No. 22406P 108
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
This Item 7 is not applicable.
Item 8. Identification and Classification of Members of the Group.
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group.
This Item 9 is not applicable.
Item 10. Certification.
By signing below the undersigned certifies that, to the best of
his 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.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is
true, complete and correct.
DATED: September 11, 2000
/s/ Leon G. Cooperman
LEON G. COOPERMAN, individually,
as Managing Member of Omega
Associates, L.L.C. on behalf of
Omega Capital Partners, L.P.
Omega Institutional Partners, L.P., and
Omega Capital Investors, L.P., and
as President of Omega Advisors, Inc.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
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