<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. 1)*
IMAGING TECHNOLOGIES CORP.
-------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $0.05
------------------------------------------------------------------
(Title of Class of Securities)
45244U104
--------------------------------------
(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 25 pages
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 2 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Citadel Limited Partnership
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois Limited Partnership
U.S.A.
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,530,000 Warrants (exercisable
EACH into 1,530,000 Shares of
REPORTING Common Stock)(1)
PERSON -----------------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
------------------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- -----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 3.0% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- -------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN; HC
- -------------------------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
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CUSIP NO. 45244U104 13G Page 3 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name GLB Partners, L.P.
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Partnership
U.S.A.
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,530,000 Warrants (exercisable
EACH into 1,530,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [_]
- ----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 3.0% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN; HC
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
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CUSIP NO. 45244U104 13G Page 4 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Citadel Investment Group, L.L.C.
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Liability Company
U.S.A.
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,530,000 Warrants (exercisable
EACH into 1,530,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [_]
- ----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 3.0% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO; HC
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
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CUSIP NO. 45244U104 13G Page 5 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Kenneth Griffin
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
U.S.A.
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,530,000 Warrants (exercisable
EACH into 1,530,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ---------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ---------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 3.0% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ---------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 6 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ---------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Wellington Partners Limited Partnership
- ---------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois Limited Partnership
U.S.A.
- ---------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ---------------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
---------------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ---------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ---------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ----------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ---------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN; HC
- ---------------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 7 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ---------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name WNPH, L.L.C.
- ---------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Liability Company
U.S.A.
- ---------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ---------------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ---------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ---------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO; HC
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 8 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ---------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name WCH, L.L.C.
- ---------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware Limited Liability Company
U.S.A.
- ---------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ---------------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ---------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO; HC
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 9 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name NP Partners
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda General Partnership
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- ----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 10 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Kensington Global Strategies Fund, Ltd.
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda Company
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [_]
- ----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
CO; HC
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 11 of 25 Pages
- ----------------------------- ----------------------------
<S> <C>
- ----------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name Olympus Securities, Ltd.
- ----------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
- ----------------------------------------------------------------
3. SEC USE ONLY
- ----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda Company
- ----------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 765,000 Warrants (exercisable
EACH into 765,000 Shares of Common
REPORTING Stock)(1)
PERSON ----------------------------------
WITH 7. SOLE DISPOSITIVE POWER
0
----------------------------------
8. SHARED DISPOSITIVE POWER
See Row 6 above.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
- ----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [_]
- ----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Up to 1.7% as of the date of filing of this statement. (Based on
49,221,823 Shares of Common Stock issued and outstanding as of November
10, 1999, plus the Common Stock issuable upon exercise of the Warrants
referred to in Row 6 above.)
- ----------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
CO
- ----------------------------------------------------------------
</TABLE>
(1) See Item 4, Endnote 1.
<PAGE>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 12 of 25 Pages
- ----------------------------- ----------------------------
SCHEDULE 13G
------------
Item 1(a) Name of Issuer: IMAGING TECHNOLOGIES CORP.
1(b) Address of Issuer's Principal Executive Offices:
11031 Via Frontera
Suite 100
San Diego, California 92127
Item 2(a) Name of Person Filing
Item 2(b) Address of Principal Business Office
Item 2(c) Citizenship
Citadel Limited Partnership
225 W. Washington
9th Floor
Chicago, Illinois 60606
Illinois Limited Partnership
GLB Partners, L.P.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Delaware Limited Partnership
Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Delaware Limited Liability Company
Kenneth Griffin
225 W. Washington
9th Floor
Chicago, Illinois 60606
U.S. Citizen
<PAGE>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 13 of 25 Pages
- ----------------------------- ----------------------------
Wellington Partners Limited Partnership
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Illinois limited partnership
WNPH, L.L.C.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Delaware limited liability company
WCH, L.L.C.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Delaware limited liability company
NP Partners
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Bermuda general partnership
Kensington Global Strategies Fund, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Bermuda company
Olympus Securities, Ltd.
c/o Citadel Investment Group, L.L.C.
225 W. Washington
9th Floor
Chicago, Illinois 60606
Bermuda company
<PAGE>
----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 14 of 25 Pages
----------------------------- ----------------------------
2(d) Title of Class of Securities:
Common Stock, par value $0.05 per share
2(e) CUSIP Number: 45244U104
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. 45244U104 13G Page 15 of 25 Pages
- ----------------------------- ----------------------------
Item 4 Ownership:
CITADEL LIMITED PARTNERSHIP
(a) Amount beneficially owned:
1,530,000 Warrants (exercisable into 1,530,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 3.0% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
GLB PARTNERS, L.P.
(a) Amount beneficially owned:
1,530,000 Warrants (exercisable into 1,530,000 Shares of Common Stock)(1)
(b) Percent of Class:
<PAGE>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 16 of 25 Pages
- ----------------------------- ----------------------------
Up to 3.0% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
CITADEL INVESTMENT GROUP, L.L.C.
(a) Amount beneficially owned:
1,530,000 Warrants (exercisable into 1,530,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 3.0% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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
<PAGE>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 17 of 25 Pages
- ----------------------------- ----------------------------
(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.
KENNETH GRIFFIN
(a) Amount beneficially owned:
1,530,000 Warrants (exercisable into 1,530,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 3.0% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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. 45244U104 13G Page 18 of 25 Pages
- ----------------------------- ----------------------------
WELLINGTON PARTNERS LIMITED PARTNERSHIP
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
WNPH, L.L.C.
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon exercise of the Warrants referred to in item (a)
above.)
<PAGE>
- ----------------------------- ----------------------------
CUSIP NO. 45244U104 13G Page 19 of 25 Pages
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(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.
WCH, L.L.C.
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
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CUSIP NO. 45244U104 13G Page 20 of 25 Pages
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(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.
NP PARTNERS
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
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CUSIP NO. 45244U104 13G Page 21 of 25 Pages
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KENSINGTON GLOBAL STRATEGIES FUND, LTD.
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
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.
OLYMPUS SECURITIES, LTD.
(a) Amount beneficially owned:
765,000 Warrants (exercisable into 765,000 Shares of Common Stock)(1)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 49,221,823
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon exercise of the Warrants referred to in item (a)
above.)
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CUSIP NO. 45244U104 13G Page 22 of 25 Pages
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(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.
(1) The securities reported herein include securities that the holders may
acquire in the future through (i) the exercise of certain warrants to purchase
shares of Common Stock at $.8750 per share (the "New Warrants") and (ii) the
exercise of certain warrants to purchase shares of Common Stock at various
exercise prices (the "Old Warrants").
None of the holders has the right to exercise Old Warrants for a number of
shares of Common Stock 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 Rule 13d-3, but excluding the Old
Warrants other than those with respect to which such determination is made) by
the holder and its affiliates to exceed 4.9% of the outstanding shares of Common
Stock following such exercise. Accordingly, no Reporting Person can be a
"beneficial owner" of the shares underlying the Old Warrants so long as the
Reporting Persons, together with their affiliates, beneficially own more than
4.9% of the securities of Issuer, and this Schedule shall not be construed as an
admission that such holders of the securities reported herein are "beneficial
owners" to such extent.
None of the holders has the right to exercise New 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 Rule 13d-3, but excluding New Warrants
other than those with respect to which such determination is made) by the holder
and its affiliates to exceed 10% of the outstanding shares of Common Stock
following such exercise, or (ii) to the extent that, after giving effect to such
exercise, such holder would have acquired beneficial ownership (as defined in
Rule 13d-3, but excluding New Warrants other than those with respect to which
such determination is made) 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,
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CUSIP NO. 45244U104 13G Page 23 of 25 Pages
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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. Accordingly,
no Reporting Person can be a "beneficial owner" of more than 10% of the
securities of Issuer as a result of the ownership of New Warrants to the extent
that the prohibitions in the foregoing sentence apply, and this Schedule shall
not be construed as an admission that such holders of the securities reported
herein are "beneficial owners" to such extent.
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 I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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CUSIP NO. 45244U104 13G Page 24 of 25 Pages
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After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated this 11th day of February, 2000 /s/ Kenneth Griffin
----------------------------------
Kenneth Griffin
CITADEL LIMITED PARTNERSHIP CITADEL INVESTMENT GROUP, L.L.C.
By: GLB Partners, L.P., By: /s/ Kenneth Griffin
its General Partner -------------------------------
Kenneth Griffin, President
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
----------------------------
Kenneth Griffin, President
GLB PARTNERS, L.P. NP PARTNERS
By: Citadel Investment Group, L.L.C., By: WCH, L.L.C.,
its General Partner its General Partner
By: Citadel Limited Partnership,
its Sole Member
By: /s/ Kenneth Griffin By: GLB Partners, L.P.,
------------------------- its General Partner
Kenneth Griffin, President
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
-------------------------
Kenneth Griffin, President
WELLINGTON PARTNERS LIMITED WCH, L.L.C.
PARTNERSHIP
By: Citadel Limited Partnership, By: Citadel Limited Partnership,
its General Partner its Sole Member
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
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CUSIP NO. 45244U104 13G Page 25 of 25 Pages
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WNPH, L.L.C.
By: Wellington Partners Limited Partnership,
its Sole Member
By: Citadel Limited Partnership,
its General Partner
By: GLB Partners, L.P.,
its General Partner
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
----------------------------------
Kenneth Griffin, President
OLYMPUS SECURITIES, LTD.
By: Citadel Limited Partnership,
its Trading Manager
By: GLB Partners, L.P.,
its General Partner
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
----------------------------------
Kenneth Griffin, President
KENSINGTON GLOBAL STRATEGIES FUND, LTD.
By: Citadel Limited Partnership,
its Trading Manager
By: GLB Partners, L.P.,
its General Partner
By: Citadel Investment Group, L.L.C.,
its General Partner
By: /s/ Kenneth Griffin
----------------------------------
Kenneth Griffin, President
