UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Series B Convertible Non-Redeemable Preferred Shares | 11/24/2006 | Â (1) | Common Stock | 95,083 | $ (2) | I | By IDB Development (3) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 10,565 | $ 0.2 | I | By IDB Development (3) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 10,565 | $ 0.22 | I | By IDB Development (3) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 10,565 | $ 0.27 | I | By IDB Development (3) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 10,564 | $ 0.3 | I | By IDB Development (3) |
Series B Convertible Non-Redeemable Preferred Shares | 11/24/2006 | Â (1) | Common Stock | 14,588,269 | $ (2) | I | By Infinity Funds (4) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 1,620,919 | $ 0.2 | I | By Infinity Funds (4) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 1,620,919 | $ 0.22 | I | By Infinity Funds (4) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 1,620,919 | $ 0.27 | I | By Infinity Funds (4) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 1,620,918 | $ 0.3 | I | By Infinity Funds (4) |
Series B Convertible Non-Redeemable Preferred Shares | 11/24/2006 | Â (1) | Common Stock | 38,034 | $ (2) | I | By CIEH (5) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 4,226 | $ 0.2 | I | By CIEH (5) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 4,226 | $ 0.22 | I | By CIEH (5) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 4,226 | $ 0.27 | I | By CIEH (5) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 4,226 | $ 0.3 | I | By CIEH (5) |
Warrants | 11/24/2006 | 06/08/2009 | Common Stock | 157,516 | $ 0.4 | I | By DIC (6) |
Series B Convertible Non-Redeemable Preferred Shares | 11/24/2006 | Â (1) | Common Stock | 5,126,416 | $ (2) | I | By Clal Industries (7) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 569,603 | $ 0.2 | I | By Clal Industries (7) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 569,603 | $ 0.22 | I | By Clal Industries (7) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 569,603 | $ 0.27 | I | By Clal Industries (7) |
Warrants | 11/24/2006 | 08/17/2009 | Common Stock | 569,603 | $ 0.3 | I | By Clal Industries (7) |
Warrants | 11/24/2006 | 06/08/2009 | Common Stock | 119,963 | $ 0.4 | I | By Clal Industries (7) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
CLAL INDUSTRIES & INVESTMENTS LTD TRIANGULAR TOWER, 45TH FLOOR, 3 AZRIELI TEL AVIV, L3 67023 |
 |  X |  |  |
Israel Infinity Venture Capital (Corporate General Partner)Ltd. 3 AZRIELI CENTER (TRIANGLE TOWER)42ND FL TEL-AVIV, L3 67023 |
 |  X |  |  |
Infinity I Annex Fund (General Partner) Ltd. 3 AZRIELI CENTER (TRIANGLE TOWER) 42FL. TEL-AVIV, L3 67023 |
 |  X |  |  |
FBR Infinity II Venture Partners Ltd. 3 AZRIELI CENTER (TRIANGLE TOWER) 42FL. TEL-AVIV, L3 67023 |
 |  X |  |  |
IDB DEVELOPMENT CORP LTD TRIANGULAR TOWER, 44TH FLOOR, 3 TEL AVIV, L3 67023 |
 |  X |  |  |
IDB HOLDING CORP LTD TRIANGULAR TOWER, 44TH FLOOR, 3 AZRIELI TEL AVIV, L3 67023 |
 |  X |  |  |
Dankner Nochi 3 AZRIELI CENTER 44TH FLOOR TEL AVIV, L3 67023 |
 |  X |  |  |
Bergman Shelly 9 HAMISHMAR HA'EZRACHI STREET AFEKA TEL AVIV, L3 69697 |
 |  X |  |  |
Manor Ruth 26 HAGDEROT STREET SAVYON, L3 56526 |
 |  X |  |  |
Livnat Avraham TAAVURA JUNCTION RAMLE, L3 72102 |
 |  X |  |  |
/s/ Gil Milner, Clal Industries and Investments Ltd. | 12/04/2006 | |
**Signature of Reporting Person | Date | |
/s/ Gonen Bieber, Clal Industries and Investments Ltd. | 12/04/2006 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Not applicable |
(2) | Each of the Series B Convertible Non-Redeemable Preferred Shares par value $ 0.001 per share, is currently convertible into 1,000 shares of Common Stock par value $0.001 |
(3) | IDB Development Corporation Ltd. ("IDB Development") is a majority owned subsidiary of IDB Holding Corporation Ltd. ("IDB Holding"). The securities are held directly by IDB Development and its wholly owned subsidiary, Clalit Finance and Investments Ltd. |
(4) | . Israel Infinity Venture Capital (Corporate General Partner) Ltd. is the general partner of Israel Infinity Venture Capital Partners LP, which is the general partner of Israel Infinity Venture Capital Fund (Israel) LP, Israel Infinity Venture Capital Fund (Delaware) LP, Israel Infinity Venture Capital Fund (Cayman I) LP, and Israel Infinity Venture Capital Fund (Cayman II) LP (together, "Infinity I"), which hold the securities directly. Infinity I Annex Fund (General Partner) Ltd. is the general partner of Infinity I Annex Fund LP ( "Annex Fund"), which hold the securities directly. FBR Infinity II Venture Partners Ltd. is the general partner of FBR Infinity II Partners LP, which is the general partner of FBR Infinity II Ventures (Israel) LP, FBR Infinity II Ventures LP and FBR Infinity II Ventures (Erisa) LP (together, "Infinity II" and with Infinity I and Annex Fund, the "Infinity Funds"), which hold the securities directly. |
(5) | Clal Insurance Enterprises Holdings Ltd. ("CIEH") is a majority owned subsidiary of IDB Holding. The securities are held directly by CIEH and its wholly owned subsidiary. |
(6) | Discount Investment Corporation Ltd. ("DIC") is a majority owned indirect subsidiary of IDB Holding. The securities are held directly by DIC and its affiliates, Elron Electronic Industries Ltd., RDC Rafael Development Corporation Ltd. and ECI Telecom Ltd. |
(7) | Clal Industries and Investments Ltd. ("Clal Industries") is a majority owned indirect subsidiary of IDB Holding. The securities are held directly by Clal Industries, its wholly owned subsidiary, Clal Electronics Industries Ltd., and by Clal Venture Capital Fund L.P. whose general partner is Clal Venture Capital Fund Management Ltd., a majority owned subsidiary of Clal Industries. |
 Remarks: 1.  Each of the reporting person and the joint filers disclaims beneficial ownership of the reported securities except to the  extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that the reporting person  or any joint filer is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of  1934, as amended or for any other purpose. 2. Exhibit 2 contains a Confirming Statement by the reporting persons. Gil Milner and Gonen Bieber, authorized signatories of Clal Industries and Investments Ltd., for itself and on behalf of the  other Reporting Persons |