SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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. 4)
Telenetics Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
87943P408
(CUSIP Number)
December 31, 2007
(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. 87943P408 13G/A Page 02 of 09 Pages
________________________________________________________________________________
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 6,388,969 (1)
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 6,388,969
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,388,969 (1)
________________________________________________________________________________
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
________________________________________________________________________________
(1) Includes 4,408,996 shares of common stock and 3,286,619 shares of common
stock issuable upon the exercise of warrants. The Reporting Person may not
exercise the warrants to the extent such exercise would result in the Reporting
Person beneficially owning in excess of 9.999% of the Issuer's issued and
outstanding shares of common stock.
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CUSIP No. 87943P408 13G/A 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) [X]
(b) [_]
________________________________________________________________________________
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 6,388,969
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 6,388,969
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,388,969
________________________________________________________________________________
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. 87943P408 13G/A 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) [X]
(b) [_]
________________________________________________________________________________
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 6,388,969
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 6,388,969
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,388,969
________________________________________________________________________________
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. 87943P408 13G/A Page 05 of 09 Pages
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Item 1(a). Name of Issuer:
Telenetics Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
39 Parker
Irvine, CA 92618
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.
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, no par value (the "Common Stock")
Item 2(e). CUSIP Number:
87943P408
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
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CUSIP No. 87943P408 13G/A Page 06 of 09 Pages
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Item 4. Ownership.
1. SDS Capital Group
(a) Amount beneficially owned: 6,388,969
(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 : 6,388,969 shares
(ii) Shared power to vote or to direct the vote : 0 shares
(iii) Sole power to dispose or to direct the disposition of 6,388,969
shares,
(iv) Shared power to dispose or to direct the disposition of 0 shares
(2) Includes 4,408,996 shares of common stock and 3,286,619 shares of
common stock issuable upon the exercise of warrants. The Reporting
Person may not exercise the warrants to the extent such exercise
would result in the Reporting Person beneficially owning in excess
of 9.999% of the Issuer's issued and outstanding shares of common
stock.
2. The Investment Manager - same as Mr. Derby, see below.
3. Mr. Derby
(a) Amount beneficially owned: 6,388,969
(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 : 6,388,969 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
6,388,969 shares
________________________________________________________________________________
CUSIP No. 87943P408 13G/A Page 07 of 09 Pages
________________________________________________________________________________
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable
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. 87943P408 13G/A 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, 2008
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
------------------------------------
Name: Steven Derby
Title: Managing Member
/s/ Steven Derby
----------------------------------------
Steven Derby
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EXHIBIT 1
The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
Dated: February 14, 2008
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
------------------------------------
Name: Steven Derby
Title: Managing Member
/s/ Steven Derby
----------------------------------------
Steven Derby
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5731488
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