Amended 13G filed 2/14/2007 for SDS Management
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1)
Remote Dymanics Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
75962A105
(CUSIP Number)
December 31, 2006
(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)
(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 the disclosures provided in a prior cover page.
The information required in 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).
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CUSIP No. 75962A105 13G Page 02 of 09 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SDS Capital Group SPC, 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
Cayman Islands
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 10,392,982
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 10,392,982
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,392,982
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.99% (1)
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
(1) Includes 36,694,793 shares issuable upon the exercise of Warrants; 3,609,677
shares issuable upon conversion of Series B Preferred Stock issued on September
02, 2005; 5,111,111 shares issuable upon conversion of Series A Convertible
notes and 16,406,250 shares issuable upon conversion of Series B Convertible
notes. The Reporting Person may not exercise the warrants issued to the extent
that such exercise would result in the Reporting Person beneficially owning in
excess of 9.9% of the Issuer's issued and outstanding shares of common stock.
The Reporting Person may not convert the Series B Convertible Preferred Stock
or exercise any of the warrants issued and dated September 2, 2005 to the
extent such conversion or exercise would result in the Reporting Person
beneficially owning in excess of 9.99% of the Issuer's issued and outstanding
shares of common stock.
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CUSIP No. 75962A105 13G Page 03 of 09 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SDS Management, LLC
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 10,392,982
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 10,392,982
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,392,982
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.99%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 75962A105 13G Page 04 of 09 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mr. Steven Derby
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 10,392,982
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 10,392,982
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,392,982
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.99%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 75962A105 13G Page 05 of 09 Pages
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Item 1(a). Name of Issuer:
Remote Dynamics Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
1155 Kas Drive, Suite 100
Richardson, Texas 75081
Item 2(a). Name of Person Filing:
SDS Capital Group SPC, Ltd. ("SDS Capital Group")
c/o Ogier Fiduciary Services (Cayman) Ltd.
113 South Church Street, PO Box 1234GT
George Town, Grand Cayman
Cayman Islands corporation
SDS Management, LLC (the "Investment Manager")
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
Delaware limited liability company
Mr. Steven Derby
Sole Managing Member of the Investment Manager
53 Forest Avenue, 2nd Floor
Old Greenwich, CT 06870
United States citizen
SDS Capital Group, the Investment Manager, and Mr. Derby are
collectively referred to herein as the Reporting Persons.
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CUSIP No. 75962A105 13G Page 06 of 09 Pages
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Item 2(b). Address of Principal Business Office, or if None, Residence:
See Item 2(a).
Item 2(c). Citizenship:
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value (the "Common Stock")
Item 2(e). CUSIP Number:
75962A105
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
Not Applicable
Item 4. Ownership.
1. SDS Capital Group
(a) Amount beneficially owned: 10,392,982
(b) Percent of class: 9.99% (2)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote : 10,392,982 shares
(ii) Shared power to vote or to direct the vote : 0 shares
(iii) Sole power to dispose or to direct the disposition of 10,392,982
shares,
(iv) Shared power to dispose or to direct the disposition of 0 shares
(2) Includes 36,694,793 shares issuable upon the exercise of
Warrants; 3,609,677 shares issuable upon conversion of Series B
Preferred Stock issued on September 02, 2005; 5,111,111 shares
issuable upon conversion of Series A Convertible notes and
16,406,250 shares issuable upon conversion of Series B
Convertible notes. The Reporting Person may not exercise the
warrants issued to the extent that such exercise would result in
the Reporting Person beneficially owning in excess of 9.9% of
the Issuer's issued and outstanding shares of common stock. The
Reporting Person may not convert the Series B Convertible
Preferred Stock or exercise any of the warrants issued and dated
September 2, 2005 to the extent such conversion or exercise
would result in the Reporting Person beneficially owning in
excess of 9.99% of the Issuer's issued and outstanding shares of
common stock.
2. The Investment Manager
(a) Amount beneficially owned: 10,392,982
(b) Percent of class: 9.99%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote : 0 shares
(ii) Shared power to vote or to direct the vote : 10,392,982 shares
(iii) Sole power to dispose or to direct the disposition of 0
shares,
(iv) Shared power to dispose or to direct the disposition of
10,392,982 shares
The shares reported herein by the Investment Manager are
beneficially owned as a result of the purchase of such shares by SDS
Capital Group. The Investment Manager may be deemed to have the sole
power to vote or to direct the vote and to dispose or to direct the
disposition of the shares beneficially owned by SDS Capital Group.
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CUSIP No. 75962A105 13G Page 07 of 09 Pages
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3. Mr. Derby
(a) Amount beneficially owned: 10,392,982
(b) Percent of class: 9.99%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote : 0 shares
(ii) Shared power to vote or to direct the vote : 10,392,982 shares
(iii) Sole power to dispose or to direct the disposition of 0
shares,
(iv) Shared power to dispose or to direct the disposition of
10,392,982 shares
The shares reported herein by the Investment Manager are
beneficially owned as a result of the purchase of such shares by SDS Capital
Group. Mr. Derby, in his capacity as the managing member of the Investment
Manager, may be deemed to share the power to vote or to direct the vote and to
dispose or to direct the disposition of the shares beneficially owned by SDS
Capital Group. Mr. Derby disclaims beneficial ownership of the shares reported
herein except to the extent of any pecuniary interest.
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 [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not appilcable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
Not applicable
Item 8. Identification and Classification of Members of the Group.
Not applicable
Item 9. Notice of Dissolution of Group.
Not applicable
Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired andare 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 purposes or effect.
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CUSIP No. 75962A105 13G Page 08 of 09 Pages
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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: February 14, 2007
SDS CAPITAL GROUP SPC, LTD.
By: SDS Management, LLC, its Investment Manager
By: /s/ Steven Derby
------------------------------------
Name: Steven Derby
Title: Director
SDS MANAGEMENT, LLC
By: /s/ Steven Derby
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Name: Steven Derby
Title: Managing Member
/s/ Steven Derby
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Steven Derby
