<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. 3)*
AMBI INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock (upon conversion of Series E and F Preferred Stock
and upon conversion of specified Warrants)
- --------------------------------------------------------------------------------
(Title of Class of Securities)
00163N 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 25 Pages
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- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 2 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 50,195 Shares of Common Stock
EACH 476 Shares of Series E Preferred Stock (convertible
REPORTING into 380,800 shares of Common Stock)(1)
PERSON 343 Shares of Series F Preferred Stock (convertible
WITH into 274,400 Shares of Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of
warrant rights for 192,842 shares)
----- -----------------------------------------------------
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 2.9% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN; HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 2 of 25 Pages
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- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 3 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 50,195 Shares of Common Stock
EACH 476 Shares of Series E Preferred Stock (convertible
REPORTING into 380,800 shares of Common Stock)(1)
PERSON 343 Shares of Series F Preferred Stock (convertible
WITH into 274,400 Shares of Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of
warrant rights for 192,842 shares)
----- -----------------------------------------------------
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 2.9% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN; HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 3 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 4 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 50,195 Shares of Common Stock
EACH 476 Shares of Series E Preferred Stock (convertible
REPORTING into 380,800 shares of Common Stock)(1)
PERSON 343 Shares of Series F Preferred Stock (convertible
WITH into 274,400 Shares of Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of
warrant rights for 192,842 shares)
----- -----------------------------------------------------
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 2.9% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO; HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 4 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 5 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 50,195 Shares of Common Stock
EACH 476 Shares of Series E Preferred Stock (convertible
REPORTING into 380,800 shares of Common Stock)(1)
PERSON 343 Shares of Series F Preferred Stock (convertible
WITH into 274,400 Shares of Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of
warrant rights for 192,842 shares)
----- -----------------------------------------------------
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 2.9% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 5 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 6 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 9,623 Shares of Common Stock
EACH 341 Shares of Series E Preferred Stock (convertible
REPORTING into 272,800 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN;HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 6 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 7 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 9,623 Shares of Common Stock
EACH 341 Shares of Series E Preferred Stock (convertible
REPORTING into 272,800 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO;HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 7 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 8 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name WHC, 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 9,623 Shares of Common Stock
EACH 341 Shares of Series E Preferred Stock (convertible
REPORTING into 272,800 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO;HC
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 8 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 9 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name NP Partners (f/k/a Nelson 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 9,623 Shares of Common Stock
EACH 341 Shares of Series E Preferred Stock (convertible
REPORTING into 272,800 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 9 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 10 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 40,572 Shares of Common Stock
EACH 135 Shares of Series E Preferred Stock (convertible
REPORTING into 108,000 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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 1.2% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
CO
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 10 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 11 of 25 Pages
- ------------------------------ --------------------------
- -------- -----------------------------------------------------------------------
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 Corporation
- -------- ----------- ----- -----------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 0
SHARES ----- -----------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 40,572 Shares of Common Stock
EACH 135 Shares of Series E Preferred Stock (convertible
REPORTING into 108,000 Shares of Common Stock)(1)
PERSON 171.5 Shares of Series F Preferred Stock
WITH (convertible into 137,200 Shares of Common
Stock)(1)
96,421 Shares of Common Stock (upon exercise of
warrant rights to 96,421 Shares)
----- -----------------------------------------------------
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 1.2% as of the date of filing of this statement. (Based on
30,518,215 Shares of Common Stock issued and outstanding as of
November 10, 1999, plus the Common Stock issuable upon the conversion
of the preferred stock and exercise of the warrants referred to in
Row 6 above.)
- -------- -----------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
CO
- -------- -----------------------------------------------------------------------
- --------------------
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
Page 11 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 12 of 25 Pages
- ------------------------------ --------------------------
SCHEDULE 13G
------------
Item 1(a) Name of Issuer: AMBI Inc.
1(b) Address of Issuer's Principal Executive Offices:
4 Manhattanville Road
Purchase, New York 10577
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 12 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 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 corporation
Page 13 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 14 of 25 Pages
- ------------------------------ --------------------------
2(d) Title of Class of Securities:
Common Stock, par value $.005 per share (including
common stock receivable upon conversion of Series E
and Series F Preferred Stock and upon exercise of
warrants)
2(e) CUSIP Number: 00163N-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 14 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 15 of 25 Pages
- ------------------------------ --------------------------
Item 4 Ownership:
CITADEL LIMITED PARTNERSHIP
(a) Amount beneficially owned:
50,195 Shares of Common Stock
476 Shares of Series E Preferred Stock (convertible into 380,800 shares of
Common Stock)(1)
343 Shares of Series F Preferred Stock (convertible into 274,400 Shares of
Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 2.9% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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:
50,195 Shares of Common Stock
476 Shares of Series E Preferred Stock (convertible into 380,800 shares of
Common Stock)(1)
343 Shares of Series F Preferred Stock (convertible into 274,400 Shares of
Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
Page 15 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 16 of 25 Pages
- ------------------------------ --------------------------
(b) Percent of Class:
Up to 2.9% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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:
50,195 Shares of Common Stock
476 Shares of Series E Preferred Stock (convertible into 380,800 shares of
Common Stock)(1)
343 Shares of Series F Preferred Stock (convertible into 274,400 Shares of
Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 2.9% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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 16 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 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:
50,195 Shares of Common Stock
476 Shares of Series E Preferred Stock (convertible into 380,800 shares of
Common Stock)(1)
343 Shares of Series F Preferred Stock (convertible into 274,400 Shares of
Common Stock)(1)
192,842 Shares of Common Stock (upon exercise of warrant rights for 192,842
shares)
(b) Percent of Class:
Up to 2.9% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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 17 of 25 Pages
<PAGE>
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CUSIP No. 00163N-10-2 13G Page 18 of 25 Pages
- ------------------------------ --------------------------
WELLINGTON PARTNERS LIMITED PARTNERSHIP
(a) Amount beneficially owned:
9,623 Shares of Common Stock
341 Shares of Series E Preferred Stock (convertible into 272,800 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into 137,200 Shares of
Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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:
9,623 Shares of Common Stock
341 Shares of Series E Preferred Stock (convertible into 272,800 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into 137,200 Shares of
Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
Page 18 of 25 Pages
<PAGE>
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CUSIP No. 00163N-10-2 13G Page 19 of 25 Pages
- ------------------------------ --------------------------
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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.
WCH, L.L.C.
(a) Amount beneficially owned:
9,623 Shares of Common Stock
341 Shares of Series E Preferred Stock (convertible into 272,800 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into 137,200 Shares of
Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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 19 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 20 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.
NP PARTNERS
(a) Amount beneficially owned:
9,623 Shares of Common Stock
341 Shares of Series E Preferred Stock (convertible into 272,800 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into 137,200 Shares of
Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 1.7% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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 20 of 25 Pages
<PAGE>
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CUSIP No. 00163N-10-2 13G Page 21 of 25 Pages
- ------------------------------ --------------------------
KENSINGTON GLOBAL STRATEGIES FUND, LTD.
(a) Amount beneficially owned:
40,572 Shares of Common Stock
135 Shares of Series E Preferred Stock (convertible into 108,000 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into up to 137,200 Shares
of Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
(b) Percent of Class:
Up to 1.2% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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:
40,572 Shares of Common Stock
135 Shares of Series E Preferred Stock (convertible into 108,000 Shares of
Common Stock)(1)
171.5 Shares of Series F Preferred Stock (convertible into up to 137,200 Shares
of Common Stock)(1)
96,421 Shares of Common Stock (upon exercise of warrant rights to 96,421 Shares)
Page 21 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 22 of 25 Pages
- ------------------------------ --------------------------
(b) Percent of Class:
Up to 1.2% as of the date of filing of this statement. (Based on 30,518,215
Shares of Common Stock issued and outstanding as of November 10, 1999, plus the
Common Stock issuable upon the conversion of the preferred stock and 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.
(1) Series E & Series F Preferred Stock accrue dividends at a rate of 10% per
annum, payable quarterly in cash or common stock, at the discretion of the
Issuer. Such shares are not reported as beneficially owned herein.
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.
Page 22 of 25 Pages
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CUSIP No. 00163N-10-2 13G Page 23 of 25 Pages
- ------------------------------ --------------------------
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.
Page 23 of 25 Pages
<PAGE>
- ------------------------------ --------------------------
CUSIP No. 00163N-10-2 13G Page 24 of 25 Pages
- ------------------------------ --------------------------
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 11/th/ 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. WELLINGTON PARTNERS LIMITED
PARTNERSHIP
By: Citadel Investment Group, L.L.C.,
its General Partner By: Citadel Limited Partnership,
its General Partner
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
WNPH, L.L.C. NP PARTNERS
By: Wellington Partners Limited By: WCH, L.L.C.,
Partnership, its General Partner
its Sole Member
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
Page 24 of 25 Pages
<PAGE>
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CUSIP No. 00163N-10-2 13G Page 25 of 25 Pages
- ------------------------------ --------------------------
WCH, L.L.C. KENSINGTON GLOBAL STRATEGIES
FUND, LTD.
By: Citadel Limited Partnership,
its Sole Member By: Citadel Limited Partnership,
its Trading Manager
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
--------------------------------
Kenneth Griffin, President 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
Page 25 of 25 Pages
