SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)(1)
INFINITE GROUP, INC.
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(Name of Issuer)
Common Stock, $.001 Par Value
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(Title of Class of Securities)
456910
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(CUSIP Number)
Todd J. Emmerman, Esq., c/o Rosenman & Colin LLP, 575 Madison Avenue,
New York, New York 10022
(212) 940-8873
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 19, 1999
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box |_|.
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
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(1) 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 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>
CUSIP No. 456910 SCHEDULE 13D Page 2 of 6 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Clearwater Fund IV, LLC
Employer I.D. #[ ]
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 456910 SCHEDULE 13D Page 3 of 6 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Clearwater Offshore Fund Ltd.
Employer I.D. #[ ]
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No. 1 is being filed by Clearwater Fund IV, LLC ("Clearwater
LLC") and Clearwater Offshore Fund Ltd. ("Clearwater Ltd."; and, collectively
with Clearwater LLC, the "Reporting Persons") pursuant to Rule 13-d(2)
promulgated under the Securities Exchange Act of 1934 (the "Exchange Act") and
amends the Schedule 13D previously filed by the Reporting Persons as of March
13, 1998. Terms not otherwise defined herein shall have the meaning ascribed to
them in the Schedule 13D.
Item 1. Identity and Background
Item 1 is hereby amended and restated to read as follows:
This statement reltaes to the shares of Common Stock, $0.001 par value per
share (the "Common Stock") of Infinite Group, Inc (formerly Infinite
Machines Corp.) (the "Company"), a corporation organized under the laws of
the state of Delaware. The principal offices of the Company are located at
2364 Post Road, Warwick, Rhode Island, 02836.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as follows:
(a)-(e)
The Reporting Persons no longer beneficially own any shares of the
Company's Common Stock. On February 23, 1999 (i) Clearwater LLC exchanged
2,493,277 shares of the Company's Common Stock for 554,062 shares of
common stock of Spectra Sciences Corp. ("Spectra"), a privately held
company, and (ii) Clearwater Offshore exchanged 257,100 shares of the
Company's Common Stock for 57,133 shares of Spectra common stock.
Item 7. Material to be filed as Exhibits.
Item 7 is hereby restated as follows:
1. Agreement, dated March 13, 1998 among the Reporting Persons relating
to filing of a joint acquisition statement pursuant to Rule
13d-1(f)(1).
Page 4 of 6
<PAGE>
SIGNATURE
After reasonable inquiry, and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: September 22, 1999
CLEARWATER OFFSHORE FUND LTD.
By: Manning Consultant Ltd., a director
By: Falkirk S.A., as attorney-in-fact
/s/ Lindsey Cancino
---------------------------------------------
By: Lindsey Cancino
Title: Director
CLEARWATER FUND IV, LLC
/s/ Hans Frederic Heye
---------------------------------------------
By: Hans Frederic Heye
Title: Managing Member
Page 5 of 6
EXHIBIT 1
The undersigned hereby agree, pursuant to Rule 13d-1(f)(1) to file a joint
statement on Schedule 13D and amendments thereto pertaining to their beneficial
ownership of shares of Common Stock of Infinite Machines Corp.
This Agreement may be terminated for any reason by any party hereto
immediately upon the personal delivery or facsimile transmission of notice to
that effect to the other parties hereto.
This agreement may be executed in counterparts and all so executed shall
constitute the agreement.
Date: March 13, 1998
CLEARWATER FUND IV, LLC
/s/ Hans Frederic Heye
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By: Hans Frederic Heye
Title: Managing Member
CLEARWATER OFFSHORE FUND LTD.
By: MANNING CONSULTANT LTD., a director
By: FALKIRK S.A., as attorney-in-fact
/s/ Carol Goodwin
-------------------------------------------------
By: Carol Goodwin
Title: Director
