UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
I-Link Incorporated (formerly Medcross, Inc.)
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(Name of Issuer)
Common Stock,$.007 par value
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(Title of Class of Securities)
449927-10-2
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(CUSIP Number)
Ralph W. Hardy, Jr.
Winter Harbor, L.L.C.
11400 Skipwith Lane
Potomac, MD 20854
(301) 983-2425
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 10, 1997
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement of Schedule 13G to report
the acquisition which is the subject of the Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
(Continued on following page(s))
<PAGE>
CUSIP No. 449927-10-2 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Winter Harbor, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER 15,200,000
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 15,200,000
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,200,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.4%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 449927-10-2 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Media, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER 15,200,000
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 15,200,000
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.4%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 449927-10-2 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Media Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER 15,200,000
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 15,200,000
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.4%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 449927-10-2 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard E. Marriott
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER 15,200,000
SHARES
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 15,200,000
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.4%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Schedule 13D
Item 1. Security and Issuer
This statement relates to the common stock underlying Series A Warrants,
Series B Warrants, Series C Warrants (collectively, the "Warrants") and Series M
Convertible Preferred Stock (the "Preferred Stock") of I-Link Incorporated
(formerly Medcross, Inc.), a Florida corporation (the "Issuer"). The Issuer's
principal executive offices are located at 13751 S. Wadsworth Park Drive, Suite
200, Draper, Utah 84020.
Item 2. Identity and Background
Winter Harbor, L.L.C., a limited liability company organized under the laws
of Delaware ("Winter Harbor"), was organized for the purpose of acquiring and
holding shares of the Issuer. Winter Harbor's principal executive offices are
located c/o First Media L.P., 11400 Skipwith Lane, Potomac, Maryland 20854.
Winter Harbor is a single member limited liability company, whose single
member is First Media L.P. First Media L.P.'s sole general partner is First
Media Corporation. Richard E. Marriott, who is a citizen of the United States
and who disclaims beneficial ownership of the shares described herein, is the
controlling shareholder and a director of First Media Corporation. Winter
Harbor, First Media, L.P., and First Media Corporation are collectively referred
to herein as the "Reporting Persons".
None of the Reporting Persons nor any of their executive officers and
directors has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) during the last five years.
None of the Reporting Persons nor any of their executive officers and
directors during the last five years, has been a party to a civil proceeding of
a judicial or administrative body of competent jurisdiction and as a result of
which such person was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration
Winter Harbor received a capital contribution from First Media L.P. for the
purchase of the Preferred Stock pursuant to the Securities Purchase Agreement
dated as of September 30, 1997, between the Issuer and Winter Harbor (the
"Purchase Agreement"). Amounts loaned to the Issuer were also funded by capital
contributions from First Media L.P. to Winter Harbor.
Item 4. Purpose of Transaction
Pursuant to a Purchase Agreement dated as of September 30, 1997, Winter
Harbor invested an aggregate of $12,100,000 in the Preferred Stock. Winter
Harbor purchased approximately 2,545 shares of Preferred Stock (convertible into
2,545,000 shares of common stock) for an aggregate cash consideration of
approximately $7,000,000 (equivalent to $2.75 per share of common stock). The
Purchase Agreement also provided for the purchase of approximately 1,855
additional shares of Preferred Stock (convertible into 1,855,000 shares of
common stock); such additional shares of Preferred Stock were paid for by Winter
Harbor exchanging $5,000,000 of outstanding principal balance under loans to the
Issuer plus approximately $100,000 accrued interest. After closing on the cash
investment and exchanging principal and interest due, Winter Harbor's total
equity investment in the Issuer is $12,100,000. As additional consideration for
its equity financing commitments, Winter Harbor was issued the Warrants to
acquire (a) 2,500,000 shares of common stock at an exercise price of $2.75 per
share (the "Series A Warrants"), (b) 2,500,000 shares of common stock at an
exercise price of $4.00 per share (the "Series B Warrants") and (c) 5,000,000
shares of common stock at an exercise price of $4.69 (the "Series C Warrants").
The respective exercise prices for the Warrants are subject to adjustment. The
Series A Warrants are exercisable at any time for thirty months from the date of
issuance, and the Series B Warrants and Series C Warrants are exercisable at any
time for sixty months from the date of issuance. All of the Warrants have demand
registration rights and anti-dilution rights and contain cashless exercise
provisions.
The Preferred Stock and Warrants were acquired by Winter Harbor for
investment purposes. The Reporting Persons have no present plans, agreements,
understandings or other arrangements to sell assign or otherwise dispose of all
or any part of the Preferred Stock or Warrants owned of record, or any shares of
the common stock underlying the Preferred Stock and the Warrants, except as
described herein.
<PAGE>
Item 5. Interest in Securities of the Issuer
(a) According to the Issuer's Form 10-Q for the quarter ended September 30,
1997, there were 14,370,916 shares of its common stock outstanding as of
November 7, 1997. If all of the Preferred Stock and Warrants were converted or
exercised, as the case may be, into shares of common stock, Winter Harbor
would hold approximately 51.4% of the Issuer's common stock.
(b) Richard E. Marriott, as the controlling shareholder of First Media
Corporation, which is the sole general partner of First Media L.P., which in
turn is the single member of Winter Harbor, controls the power to vote or
dispose of the Preferred Stock, the Warrants and the underlying common stock.
(c) The transactions under the Purchase Agreement and described in Item 4
above were consummated on October 10, 1997.
(d) No person has the right to receive or the power to direct the receipt
of dividends from or the proceeds from the sale of, any of the shares of Common
Stock owned of record by Winter Harbor.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
On October 10, 1997, the Issuer, Winter Harbor and certain holders of the
Issuer's securities entered into a Shareholders Agreement (the "Shareholders
Agreement"). The Shareholders Agreement provides that Winter Harbor has the
right to appoint two members of the Issuer's Board of Directors so long as
Winter Harbor holds shares of Preferred Stock. In addition, the Shareholders
Agreement gives Winter Harbor the right to vote its shares of Preferred Stock on
an "as converted" basis with the holders of the Issuer's common stock on matters
submitted to a vote of Issuer's common stockholders, and it provides that the
Issuer cannot take certain corporate actions without the approval of Winter
Harbor. The Shareholders Agreement also grants Winter Harbor "tag-along"
registration rights, preemptive rights with respect to certain issuances of new
securities by the Issuer, and certain repurchase rights in the event of a change
in control of the Issuer.
Item 7. Material to be Filed as Exhibits
4(u) Securities Purchase Agreement by and between the Issuer and Winter Harbor,
L.L.C., dated as of September 30, 1997 (the "Purchase Agreement").
(Incorporated by reference to form 8-K dated September 30, 1997 file no.
0-17973 as filed with the Securities and Exchange Commission.)
4(v) Registration Rights Agreement by and between the Issuer and Winter Harbor,
L.L.C., which constitutes Exhibit C to the Purchase Agreement.
(Incorporated by reference to form 8-K dated September 30, 1997 file no.
0-17973 as filed with the Securities and Exchange Commission.)
4(w) Shareholders Agreement by and among the Issuer, Winter Harbor, L.L.C. and
certain holders of the Issuer's securities, which constitutes Exhibit D to
the Purchase Agreement. (Incorporated by reference to form 8-K dated
September 30, 1997 file no. 0-17973 as filed with the Securities and
Exchange Commission.)
4(x) Form of Warrant Agreement by and between Issuer and Winter Harbor, L.L.C.,
which constitutes Exhibit F to the Purchase Agreement. (Incorporated by
reference to form 8-K dated September 30, 1997 file no. 0-17973 as filed
with the Securities and Exchange Commission.)
99 Joint Filing Agreement
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: April 13, 1998
WINTER HARBOR, L.L.C.
By: First Media, L.P., its Manager/ Member
By: First Media Corporation,
its sole General Partner
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
FIRST MEDIA, L.P.
By: First Media Corporation,
its sole General Partner
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
FIRST MEDIA CORPORATION
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
EXHIBIT 99
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13D dated April
13, 1998 with respect to the Common Stock of I-Link Inc. is, and any amendments
thereto signed by each of the undersigned shall be, filed on behalf of each of
us pursuant to and in accordance with the provisions of Rule 13d-1(f) under the
Securities Exchange Act of 1934.
Dated: April 13, 1998
WINTER HARBOR, L.L.C.
By: First Media, L.P., its Manager/ Member
By: First Media Corporation,
its sole General Partner
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
FIRST MEDIA, L.P.
By: First Media Corporation,
its sole General Partner
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
FIRST MEDIA CORPORATION
/s/ Ralph W. Hardy, Jr.
-----------------------------------
Signature
Ralph W. Hardy, Jr. / Secretary
-----------------------------------
Name/Title
/s/ Richard E. Marriott
-------------------------------
Richard E. Marriott
