SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
VISUAL EDGE SYSTEMS, INC.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
928430 10 7
(CUSIP Number)
April 4, 1998
(Date of Event Which Requires Filing of this 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 the 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, as amended (the "Exchange
Act"), or otherwise subject to the liabilities of that section of
the Exchange Act but shall be subject to all other provisions of
the Exchange Act (however, see the Notes).
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Infinity Investors Limited
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [ x ]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Nevis, West Indies
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 432,011
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 432,011
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned
by Each Reporting Person 432,011
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 5.4%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* CO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Infinity Emerging
Opportunities Limited
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [ x ]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Nevis, West Indies
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 95,473
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 95,473
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 95,473
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.2%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* CO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Glacier Capital Limited
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ] <1>
Member of a Group* (b) [ x ] <2>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Nevis, West Indies
- -----------------------------------------------------------------
Number of shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,903
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,903
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,903
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* CO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- ---------------------
<1> Glacier Capital Limited expressly affirms the
existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Glacier Group (as herein defined).
<2> Glacier Capital Limited disclaims membership in a
group consisting of members other than those in the Glacier Group
and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Lion Capital Partners, L.P.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ] <3>
Member of a Group* (b) [ x ] <4>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,903
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,903
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,903
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* PN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- ---------------------
<3> Lion Capital Partners, L.P. expressly affirms
the existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Glacier Group (as herein defined).
<4> Lion Capital Partners, L.P. disclaims membership
in a group consisting of members other than those in the Glacier
Group and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Mountain Capital Management, L.L.C.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ] <5>
Member of a Group* (b) [ x ] <6>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,903
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,903
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,903
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* OO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<5> Mountain Capital Management, L.L.C. expressly
affirms the existence of a "group" (as such term is used in Rule
13d-5 promulgated under the Security Exchange Act among the other
members of the Glacier Group (as herein defined).
<6> Mountain Capital Management, L.L.C. disclaims
membership in a group consisting of members other than those in
the Glacier Group and has included information concerning such
shares for informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Summit Capital Limited
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ] <7>
Member of a Group* (b) [ x ] <8>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* PN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<7> Summit Capital Limited expressly affirms the
existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<8> Summit Capital Limited disclaims membership in a
group consisting of members other than those in the Summit Group
and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Sandera Partners, L.P.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ] <9>
Member of a Group* (b) [ x ]<10>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* OO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<9> Sandera Partners, L.P. expressly affirms the
existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<10> Sandera Partners, L.P. disclaims membership in a
group consisting of members other than those in the Summit Group
and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Sandera Capital Management, L.P.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ]<11>
Member of a Group* (b) [ x ]<12>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* PN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<11> Sandera Capital Management, L.P. expressly affirms
the existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<12> Sandera Capital Management, L.P. disclaims
membership in a group consisting of members other than those in
the Summit Group and has included information concerning such
shares for informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Sandera Capital, L.L.C.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ]<13>
Member of a Group* (b) [ x ]<14>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* OO
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<13> Sandera Capital, L.L.C. expressly affirms the
existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<14> Sandera Capital, L.L.C. disclaims membership in a
group consisting of members other than those in the Summit Group
and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person John A. (Pete) Bricker, Jr.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ]<15>
Member of a Group* (b) [ x ]<16>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization U.S. citizenship
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<15> John A. (Pete) Bricker, Jr. expressly affirms the
existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<16> John A. (Pete) Bricker, Jr. disclaims membership
in a group consisting of members other than those in the Summit
Group and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
(1) Name of Reporting Person Hunt Financial Partners, L.P.
I.R.S. Identification
No. of Above Person N/A
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ x ]<17>
Member of a Group* (b) [ x ]<18>
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship or Place of Organization Texas
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 100,904
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 100,904
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 100,904
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check Box if the Aggregate Amount in [ x ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 1.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* PN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
- --------------------
<17> Hunt Financial Partners, L.P. expressly affirms
the existence of a "group" (as such term is used in Rule 13d-5
promulgated under the Security Exchange Act among the other
members of the Summit Group (as herein defined).
<18> Hunt Financial Partners, L.P. disclaims membership
in a group consisting of members other than those in the Summit
Group and has included information concerning such shares for
informational purposes only.
<PAGE>
CUSIP NO.928430 10 7 13G
Item 1(a) Name of Issuer:
Visual Edge Systems, Inc. (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
2424 North Federal Highway, Suite 100
Boca Raton, Florida 33431
Item 2(a) Name of Person Filing:
Pursuant to Rule 13d-1(k)(1) promulgated under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), this Statement on Schedule 13G is
filed jointly by Infinity Investors Limited
("Infinity"), Infinity Emerging Opportunities Limited
("Emerging"), Glacier Capital Limited ("Glacier"), Lion
Capital Partners, L.P. ("Lion"), Mountain Capital
Management, L.L.C. ("Mountain"), (Glacier, Lion and
Mountain, collectively, the "Glacier Group"), Summit
Capital Limited ("Summit"), Sandera Partners, L.P.
("Sandera"), Sandera Capital Management, L.P. ("SCM"),
Sandera Capital, L.L.C. ("Capital"), John A. (Pete)
Bricker, Jr. ("Bricker")and Hunt Financial Partners,
L.P. ("Hunt Financial") (Summit, Sandera, SCM, Capital,
Bricker and Hunt Financial collectively, the "Summit
Group"). Infinity, Emerging, the Glacier Group and the
Summit Group are collectively referred to herein as the
"Reporting Persons." The Reporting Persons have
included as Appendix A to this Statement an agreement
in writing that this Statement is filed on behalf of
each of them.
Item 2(b) Address of Principal Business Office or, if none,
Residence:
The address of the Principal Business Office of
Infinity, Emerging, Glacier and Summit is:
38 Hertford Street, London, England W1Y 7TG.
The address of the Principal Business Office of
Lion, Mountain and the remaining members of the Summit
Group is:
1601 Elm Street, Suite 4000, Dallas, Texas 75201.
<PAGE>
CUSIP NO.928430 10 7 13G
Item 2(c) Citizenship:
Infinity, Emerging, Glacier, and Summit are Nevis,
West Indies Corporations. Lion is a Texas limited
partnership. Mountain is a Texas limited liability
company. Sandera is a Texas limited partnership. SCM
is a Texas limited partnership. Capital is a Texas
limited liability company. Mr. Bricker is a U.S.
citizen, resident of the State of Texas. Hunt Financial
is a Texas limited partnership.
Item 2(d) Title of Class of Securities:
Common Stock, $0.01 par value per share (the
"Common Stock") of the Issuer.
Item 2(e) CUSIP Number:
928430 10 7
Item 3. This statement is filed pursuant to Rule 13d-1(c).
Item 4. Ownership:
Infinity
- --------
(a) Amount Beneficially Owned: 432,011.
(b) Percent of Class: 5.4%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote: 432,011
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 432,011
(iv) shared power to dispose or to direct the
disposition of: 0
432,011 shares of Common Stock reported hereby are
held directly by Infinity.
Emerging
- --------
(a) Amount Beneficially Owned: 95,473.
<PAGE>
CUSIP NO.928430 10 7 13G
(b) Percent of Class: 1.2%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote: 95,473
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 95,473
(iv) shared power to dispose or to direct the
disposition of: 0
95,473 shares of Common Stock reported hereby are
held directly by Emerging.
Glacier Group
- -------------
(a) Amount Beneficially Owned: 100,903.
(b) Percent of Class: 1.3%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote: 100,903
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 100,903
(iv) shared power to dispose or to direct the
disposition of: 0
100,903 shares of Common Stock reported hereby are
held directly by Glacier Group (the "Glacier
Securities").
Glacier has advised that it is 100% owned by its
sole shareholder, Lion, and that Lion is managed by its
sole general partner, Mountain Capital Management,
L.L.C. Accordingly, each of Lion and Mountain may be
deemed to indirectly beneficially own the Glacier
Securities and, together with Glacier constitute a
"group" under the provisions of Rule 13d-5(b)(1) under
the Exchange Act. Further, each member of the Glacier
Group may be deemed to share in the power to vote (or
to direct the vote) and dispose of (or to direct the
disposition of) the Glacier Securities.
<PAGE>
CUSIP NO.928430 10 7 13G
Mountain has advised that its Board of Managers
consists of Clark K. Hunt, Barrett N. Wissman, and
Randall Fojtasek.
Summit Group
- ------------
(a) Amount Beneficially Owned: 100,904.
(b) Percent of Class: 1.3%
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote: 100,904
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 100,904
(iv) shared power to dispose or to direct the
disposition of: 0
100,904 shares of Common Stock reported hereby are
held directly by Summit Group (the "Summit
Securities").
Summit has advised that it is 100% owned by its
sole shareholder, Sandera, and that Sandera is managed
by its sole general partner, SCM, and that SCM is
managed by its sole general partner, Capital, 75% of
the equity interests of which are held by Hunt
Financial. The remaining 25% of the equity interest in
Capital are held by Bricker. Accordingly, each of SCM,
Capital, Bricker and Hunt Financial may be deemed to
directly beneficially own the Summit Securities and,
together with Summit, constitute a "group" under the
provisions of Rule 13d-5(b)(1) under the Exchange Act.
Further, each member of the Summit Group may be deemed
to share in the power to vote (or direct the vote) and
dispose or (or direct the disposition of) the Summit
Securities.
Hunt Financial has advised that its general
partner is Hunt Financial Group, L.L.C., a Delaware
limited liability company, whose Board of Managers
consists of J. R. Holland, Jr., Clark K. Hunt and Lamar
Hunt, each individual residents of the State of Texas.
Capital has advised that its Board of Managers consists
of Clark K. Hunt, John A. (Pete) Bricker, Jr. and Mark
E. Schwarz, each individual residents of the State of
Texas.
<PAGE>
CUSIP NO.928430 10 7 13G
Item 5. Ownership of 5% or less of a Class:
Not Applicable.
Item 6. Ownership of More than 5% 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:
Not Applicable.
Item 8. Identification and Classification of Members of the
Group:
Not Applicable.
Item 9. Notice of Dissolution of Group:
Not Applicable.
<PAGE>
CUSIP NO.928430 10 7 13G
Item 10. Certifications:
By signing below, the undersigned certifies that, to the
best of their knowledge and belief, the securities referred to
above were acquired in the ordinary course of business and were
not acquired for the purpose of and do not have the effect of
changing or influencing the control of the Issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
Date: April 14, 1998
Infinity Investors Limited
By: /s/ JAMES A. LOUGHRAN
---------------------------------
Name: James A. Loughran
Title: Director
Infinity Emerging Opportunities Limited
By: /s/ JAMES A. LOUGHRAN
---------------------------------
Name: James A. Loughran
Title: Director
<PAGE>
CUSIP NO.928430 10 7 13G
Glacier Capital Limited
By: /s/ JAMES A. LOUGHRAN
---------------------------------
Name: James A. Loughran
Title: Director
Lion Capital Partners, L.P.
By: Mountain Capital Management, L.L.C.
Its general partner
By: /s/ CLARK K. HUNT
---------------------------------
Name: Clark K. Hunt
Title: President
Mountain Capital Management, L.L.C.
By: /s/ CLARK K. HUNT
---------------------------------
Name: Clark K. Hunt
Title: President
Summit Capital Limited
By: /s/ JAMES A. LOUGHRAN
---------------------------------
Name: James A. Loughran
Title: Director
<PAGE>
CUSIP NO.928430 10 7 13G
Sandera Partners, L.P.
By: Sandera Capital Management L.P.
Its general partner
By: Sandera Capital, L.L.C.,
Its general partner
By: /s/ JOHN A. (PETE) BRICKER, JR.
-----------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
Sandera Capital Management, L.P.
By: Sandera Capital, L.L.C.,
Its general partner
By: /s/ JOHN A. (PETE) BRICKER, JR.
---------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
/s/ JOHN A. (PETE) BRICKER, JR.
------------------------------------
John A. (Pete) Bricker
Sandera Capital, L.L.C.
By: /s/ JOHN A. (PETE) BRICKER, JR.
---------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
<PAGE>
CUSIP NO.928430 10 7 13G
Hunt Financial Partners, L.P.
By: Hunt Financial Group, L.L.C.
Its General Partner
By: /s/ CLARK K. HUNT
--------------------------------
Name: Clark K. Hunt
Title: President
Attention: Intentional misstatements or
omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001)
<PAGE>
Appendix A
----------
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities
Exchange Act of 1934, as amended, the persons named below agree
to the joint filing on behalf of each of them of a Statement on
Schedule 13G (including amendments thereto) with respect to the
Common Stock of Visual Edge Systems Inc.. This Joint Filing
Agreement shall be included as an exhibit to such filing. In
evidence thereof, each of the undersigned, being duly authorized
where appropriate, hereby executes this Joint Filing Agreement as
of the 13th day of April, 1998.
INFINITY INVESTORS LIMITED
By: /s/ JAMES A. LOUGHRAN
-------------------------------------
Name: James A. Loughran
Title: Director
INFINITY EMERGING OPPORTUNITIES LIMITED
By: /s/ JAMES A. LOUGHRAN
-------------------------------------
Name: James A. Loughran
Title: Director
GLACIER CAPITAL LIMITED
By: /s/ JAMES A. LOUGHRAN
-------------------------------------
Name: James A. Loughran
Title: Director
LION CAPITAL PARTNERS, L.P.
By: Mountain Capital Management, L.L.C.,
its General Partner
By: /s/ CLARK K. HUNT
--------------------------------
Name: Clark K. Hunt
Title: President
<PAGE>
MOUNTAIN CAPITAL MANAGEMENT, L.L.C.
By: /s/ CLARK K. HUNT
--------------------------------
Name: Clark K. Hunt
Title: President
SUMMIT CAPITAL LIMITED
By: /s/ JAMES A. LOUGHRAN
-------------------------------------
Name: James A. Loughran
Title: Director
SANDERA PARTNERS, L.P.
By: Sandera Capital Management, L.P.,
its General Partner
By: Sandera Capital, L.L.C.,
its General Partner
By: /s/ JOHN A. (PETE) BRICKER, JR.
-------------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
SANDERA CAPITAL MANAGEMENT, L.P.
By: Sandera Capital, L.L.C.,
its General Partner
By: /s/ JOHN A. (PETE) BRICKER, JR.
------------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
<PAGE>
SANDERA CAPITAL, L.L.C.
By: /s/ JOHN A. (PETE) BRICKER, JR.
----------------------------------
Name: John A. (Pete) Bricker, Jr.
Title: President
/s/ JOHN A. (PETE) BRICKER, JR.
--------------------------------------
John A. (Pete) Bricker, Jr.
HUNT FINANCIAL PARTNERS, L.P.
By: Hunt Financial Group, L.L.C.,
its General Partner
By: /s/ CLARK K. HUNT
-------------------------------
Name: Clark K. Hunt
Title: President
