Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of
1934
(Amendment No. 3)*
|
FITLIFE BRANDS,
INC.
|
(Name of
Issuer)
|
Common Stock, Par Value $0.01 Per
Share
|
(Title of Class of
Securities)
|
33817P108
|
(CUSIP
Number)
|
Dayton
Judd
c/o Fitlife Brands, Inc. 5214 S. 136th Street Omaha, Nebraska 68137 402-333-5260 |
(Name, Address and
Telephone Number of Person Authorized to Receive Notices and
Communications)
|
January 3,
2019
(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [ x ]
Note: Schedules filed in paper format
shall include a signed original and five copies of the schedule,
including all exhibits. See §240.13d-7 for other parties to
whom copies are to be sent.
* 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 ("Act") 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).
|
CUSIP No. 33817P108
|
||||||
|
(1)
|
|
Names of Reporting
Persons/ I.R.S. Identification Nos. of Above Persons (Entities
Only)
Dayton Judd
|
||||
|
(2)
|
|
Check the
Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b)
|
||||
|
(3)
|
|
SEC Use
Only
|
||||
|
(4)
|
|
Source of Funds
(See Instructions)
OO
|
||||
|
(5)
|
|
Check if Disclosure
of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[ ]
|
||||
|
(6)
|
|
Citizenship or
Place of Organization
Delaware
|
||||
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
|
(7)
|
|
Sole Voting
Power
945,715 (1)
|
||
|
|
(8)
|
|
Shared Voting
Power
3,910,703 (2)
|
|||
|
|
(9)
|
|
Sole Dispositive
Power
945,715 (1)
|
|||
|
|
(10)
|
|
Shared Dispositive
Power
3,910,703 (2)
|
|||
|
(11)
|
|
Aggregate Amount
Beneficially Owned by Each Reporting Person
4,856,418
|
||||
|
(12)
|
|
Check if the
Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
|
||||
|
(13)
|
|
Percent of Class
Represented by Amount in Row (11)
37.9%
|
||||
|
(14)
|
|
Type of Reporting
Person (See Instructions)
IN
|
||||
(1) Includes (i) 710,715 shares of Common Stock, and (ii)
235,000 shares of Common Stock issuable upon the exercise of
certain stock options held by Mr. Judd individually.
(2) Includes (i) 38,600 shares of Common Stock held
indirectly by Mr. Judd through his IRA; (ii) 102,869 shares of
Common Stock held indirectly by Mr. Judd through his SEP IRA; (iii)
2,285,539 shares of Common Stock held by Sudbury Holdings, LLC;
(iv) 1,141,304 shares of Common Stock issuable upon the conversion
of 525 shares of the Company’s Series A Convertible Preferred
Stock held by Sudbury Holdings, LLC; and (v) 342,391 shares of
Common Stock issuable upon the exercise of certain warrants held by
Sudbury Holdings, LLC.
|
CUSIP No. 33817P108
|
||||||
|
(1)
|
|
Names of Reporting
Persons/
I.R.S. Identification Nos. of Above Persons (Entities
Only)
Sudbury Capital Fund LP
38-3873725
|
||||
|
(2)
|
|
Check the
Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b)
|
||||
|
(3)
|
|
SEC Use
Only
|
||||
|
(4)
|
|
Source of Funds
(See Instructions)
WC
|
||||
|
(5)
|
|
Check if Disclosure
of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[ ]
|
||||
|
(6)
|
|
Citizenship or
Place of Organization
Delaware
|
||||
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
|
(7)
|
|
Sole Voting
Power
0
|
||
|
|
(8)
|
|
Shared Voting
Power
3,769,234 (1)
|
|||
|
|
(9)
|
|
Sole Dispositive
Power
0
|
|||
|
|
(10)
|
|
Shared Dispositive
Power
3,769,234 (1)
|
|||
|
(11)
|
|
Aggregate Amount
Beneficially Owned by Each Reporting Person
3,769,234
|
||||
|
(12)
|
|
Check if the
Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
|
||||
|
(13)
|
|
Percent of Class
Represented by Amount in Row (11)
29.9%
|
||||
|
(14)
|
|
Type of Reporting
Person (See Instructions)
PN
|
||||
(1) Includes
(i) 2,285,539 shares of Common Stock held by Sudbury Holdings, LLC;
(ii) 1,141,304 shares of Common Stock issuable upon the conversion
of 525 shares of the Company’s Series A Convertible Preferred
Stock held by Sudbury Holdings, LLC; and (iii) 342,391 shares of
Common Stock issuable upon the exercise of certain warrants held by
Sudbury Holdings, LLC.
|
CUSIP No. 33817P108
|
||||||
|
(1)
|
|
Names of Reporting
Persons/ I.R.S. Identification Nos. of Above Persons (Entities
Only)
Sudbury Holdings, LLC
|
||||
|
(2)
|
|
Check the
Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b)
|
||||
|
(3)
|
|
SEC Use
Only
|
||||
|
(4)
|
|
Source of Funds
(See Instructions)
AF
|
||||
|
(5)
|
|
Check if Disclosure
of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[ ]
|
||||
|
(6)
|
|
Citizenship or
Place of Organization
Delaware
|
||||
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
|
(7)
|
|
Sole Voting
Power
0
|
||
|
|
(8)
|
|
Shared Voting
Power
3,769,234 (1)
|
|||
|
|
(9)
|
|
Sole Dispositive
Power
0
|
|||
|
|
(10)
|
|
Shared Dispositive
Power
3,769,234 (1)
|
|||
|
(11)
|
|
Aggregate Amount
Beneficially Owned by Each Reporting Person
3,769,234
|
||||
|
(12)
|
|
Check if the
Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
|
||||
|
(13)
|
|
Percent of Class
Represented by Amount in Row (11)
29.9%
|
||||
|
(14)
|
|
Type of Reporting
Person (See Instructions)
HC
|
||||
(1) Includes
(i) 2,285,539 shares of Common Stock held by Sudbury Holdings, LLC;
(ii) 1,141,304 shares of Common Stock issuable upon the conversion
of 525 shares of the Company’s Series A Convertible Preferred
Stock held by Sudbury Holdings, LLC; and (iii) 342,391 shares of
Common Stock issuable upon the exercise of certain warrants held by
Sudbury Holdings, LLC.
|
CUSIP No. 33817P108
|
||||||
|
(1)
|
|
Names of Reporting
Persons/ I.R.S. Identification Nos. of Above Persons (Entities
Only)
Sudbury Capital GP, LP
|
||||
|
(2)
|
|
Check the
Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b)
|
||||
|
(3)
|
|
SEC Use
Only
|
||||
|
(4)
|
|
Source of Funds
(See Instructions)
AF
|
||||
|
(5)
|
|
Check if Disclosure
of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[ ]
|
||||
|
(6)
|
|
Citizenship or
Place of Organization
Delaware
|
||||
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
|
(7)
|
|
Sole Voting
Power
0
|
||
|
|
(8)
|
|
Shared Voting
Power
3,769,234 (1)
|
|||
|
|
(9)
|
|
Sole Dispositive
Power
0
|
|||
|
|
(10)
|
|
Shared Dispositive
Power
3,769,234 (1)
|
|||
|
(11)
|
|
Aggregate Amount
Beneficially Owned by Each Reporting Person
3,769,234
|
||||
|
(12)
|
|
Check if the
Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
|
||||
|
(13)
|
|
Percent of Class
Represented by Amount in Row (11)
29.9%
|
||||
|
(14)
|
|
Type of Reporting
Person (See Instructions)
PN
|
||||
(1) Includes
(i) 2,285,539 shares of Common Stock held by Sudbury Holdings, LLC;
(ii) 1,141,304 shares of Common Stock issuable upon the conversion
of 525 shares of the Company’s Series A Convertible Preferred
Stock held by Sudbury Holdings, LLC; and (iii) 342,391 shares of
Common Stock issuable upon the exercise of certain warrants held by
Sudbury Holdings, LLC.
|
CUSIP No. 33817P108
|
||||||
|
(1)
|
|
Names of Reporting
Persons/ I.R.S. Identification Nos. of Above Persons (Entities
Only)
Sudbury Capital Management, LLC
|
||||
|
(2)
|
|
Check the
Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b)
|
||||
|
(3)
|
|
SEC Use
Only
|
||||
|
(4)
|
|
Source of Funds
(See Instructions)
AF
|
||||
|
(5)
|
|
Check if Disclosure
of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[ ]
|
||||
|
(6)
|
|
Citizenship or
Place of Organization
Delaware
|
||||
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
|
(7)
|
|
Sole Voting
Power
0
|
||
|
|
(8)
|
|
Shared Voting
Power
3,769,234 (1)
|
|||
|
|
(9)
|
|
Sole Dispositive
Power
0
|
|||
|
|
(10)
|
|
Shared Dispositive
Power
3,769,234 (1)
|
|||
|
(11)
|
|
Aggregate Amount
Beneficially Owned by Each Reporting Person
3,769,234
|
||||
|
(12)
|
|
Check if the
Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
|
||||
|
(13)
|
|
Percent of Class
Represented by Amount in Row (11)
29.9%
|
||||
|
(14)
|
|
Type of Reporting
Person (See Instructions)
IA
|
||||
(1) Includes
(i) 2,285,539 shares of Common Stock held by Sudbury Holdings, LLC;
(ii) 1,141,304 shares of Common Stock issuable upon the conversion
of 525 shares of the Company’s Series A Convertible Preferred
Stock held by Sudbury Holdings, LLC; and (iii) 342,391 shares of
Common Stock issuable upon the exercise of certain warrants held by
Sudbury Holdings, LLC.
Item
1. Security and Issuer
This Statement relates
to the Common Stock, par value $0.01 per share (the "Common
Stock"), of FitLife Brands Inc. (the "Company"). The aggregate
number of shares of Common Stock held by the Reporting Persons, as
set forth herein, includes 1,141,304 shares of Common Stock
issuable upon the conversion of 525 shares of the the Company's
Series A Convertible Preferred Stock, as well as 342,391 shares of
Common Stock issuable upon exercise of certain warrants held by the
Reporting Persons. The Company reports that its principal executive
offices are located at 5214 S. 136th Street, Omaha, NE
68137.
Item 2. Identity and
Background
(a)
This Statement is
filed by Dayton Judd; Sudbury Capital Fund, LP, a Delaware limited
partnership and pooled investment vehicle; Sudbury Holdings, LLC, a
Delaware limited liability company; Sudbury Capital Management,
LLC, a Delaware limited liability company and the Investment
Adviser; and Sudbury Capital GP, LP, a Delaware limited partnership
and the General Partner of the pooled investment vehicle.
Mr. Judd is the Managing Member of the Investment Advisor and Partner and Manager of the General Partner.
Each of the Fund, the General Partner, the Investment Advisor and Mr. Judd is referred to herein as a "Reporting Person" and collectively as the "Reporting Persons." The Reporting Persons are filing this Statement jointly. Neither the fact of this filing nor anything contained herein shall be deemed to be an admission by any of the Reporting Persons that they constitute a "group."
Mr. Judd is the Managing Member of the Investment Advisor and Partner and Manager of the General Partner.
Each of the Fund, the General Partner, the Investment Advisor and Mr. Judd is referred to herein as a "Reporting Person" and collectively as the "Reporting Persons." The Reporting Persons are filing this Statement jointly. Neither the fact of this filing nor anything contained herein shall be deemed to be an admission by any of the Reporting Persons that they constitute a "group."
(b)
The business address
of each of the Reporting Persons is 5214 S. 136th Street, Omaha,
Nebraska 68137.
(c)
The principal
business of the Fund is serving as a private investment fund. The
principal business of the General Partner is to provide investment
advisory and management services to private investment funds,
including the Fund. The General Partner has delegated the
management of the Fund's investment program to the Investment
Advisor. The principal business of the Investment Advisor is to
provide investment advisory services, including to the Fund. The
principal occupation of Mr. Judd is serving as investment manager
and advisor to the Fund.
(d)
None of the Reporting
Persons or any of their partners, managers, officers or other
controlling persons has, during the last five years, been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e)
None of the Reporting
Persons or any of their partners, managers, officers or other
controlling persons has, during the last five years, been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is
subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with
respect to such laws.
(f)
Mr. Judd is a U.S.
citizen.
Item
3. Source and Amount of Funds or Other Consideration
Other than for
those shares of Common Stock and shares of Common Stock issuable
upon the exercise of certain stock options held directly by Mr.
Judd and those shares held indirectly by Mr. Judd through his IRA
and SEP IRA, the source of funds used in purchasing the Company's
securities was working capital of the Fund. The total cost for
purchasing the securities held by the Reporting Persons, including
the shares of Series A Preferred and Warrants, as set forth below,
less broker fees and those costs incurred by Mr. Judd in connection
with the acquisition of those securities held individually by him,
reported in this Statement was approximately $2,754,765 in the
aggregate. Mr. Judd paid an additional $53,092 for those shares of
Common Stock he holds individually.
Item
4. Purpose of Transaction
The Reporting
Persons acquired the securities reported in this Statement for
investment purposes. The Reporting Persons may in the future
acquire additional shares of Common Stock or other Company
securities, or dispose of some or all of the shares of Common Stock
or other securities held by the Reporting Persons in open-market
transactions or privately negotiated transactions, on such terms
and at such times as the Reporting Persons may deem advisable;
subject to the provisions of the Company's Insider Trading and
Unauthorized Disclosure Policy and applicable securities law and
regulations.
In addition to acquiring the securities for investment purposes, Mr. Judd is a member of the Company's executive management team and Board of Directors, and currently serves as the Company's Chief Executive Officer and Chairman. That said, none of the Reporting Persons have any other present plan or proposal that would result in any of the actions described in paragraphs (a) through (c) and (e) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right in the future to formulate any such plans or proposals, and to take any actions with respect to their investments in the Company, including any or all of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D.
In addition to acquiring the securities for investment purposes, Mr. Judd is a member of the Company's executive management team and Board of Directors, and currently serves as the Company's Chief Executive Officer and Chairman. That said, none of the Reporting Persons have any other present plan or proposal that would result in any of the actions described in paragraphs (a) through (c) and (e) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right in the future to formulate any such plans or proposals, and to take any actions with respect to their investments in the Company, including any or all of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the
Issuer.
(a)
Other than Mr. Judd, who beneficially owns an
aggregate of 4,856,418 shares of Common Stock, representing
approximately 37.9% of the Company's shares of Common Stock, each
of the Reporting Persons beneficially own 3,769,234 shares of
Common Stock, which includes 1,141,304 shares of Common Stock
issuable upon the conversion of 525 shares of the Company's Series
A Convertible Preferred Stock and 342,391 shares of Common Stock
issuable upon the exercise of Warrants held by the Reporting
Persons, and which represents approximately 29.9% percent of the
Company's outstanding shares of Common Stock. The Fund directly
holds the number and percentage of shares disclosed as beneficially
owned by it in the applicable table set forth on the cover page to
this Statement. Other than the Fund and Mr. Judd, as
disclosed in the applicable tables set forth on the cover page of
this Statement, none of the other
Reporting Persons directly hold any of the shares disclosed in this
Statement.
Each percentage ownership of shares set forth in this Statement is based on the 11,084,545 shares of Common Stock reported by the Company as outstanding on November 14, 2018 in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission with respect to its quarter ended September 30, 2018. As applicable, the Reporting Persons have included the shares of Common Stock issuable upon conversion of the shares of Series A Convertible Preferred Stock and upon exercise of the Warrants and certain stock options, as required by Section 13d-3 of the Securities Exchange Act of 1934, as amended.
The General Partner, as general partner to the Fund, and the Investment Advisor, as the investment manager to the Fund, may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by the Fund in this Statement. As principal of the General Partner and the Investment Advisor, Mr. Judd may be deemed to be a beneficial owner of the shares of Common Stock disclosed as directly owned by the Fund in this Statement. Each of the General Partner, the Investment Advisor and Mr. Judd expressly disclaims beneficial ownership of the Fund's shares of Common Stock.
Each percentage ownership of shares set forth in this Statement is based on the 11,084,545 shares of Common Stock reported by the Company as outstanding on November 14, 2018 in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission with respect to its quarter ended September 30, 2018. As applicable, the Reporting Persons have included the shares of Common Stock issuable upon conversion of the shares of Series A Convertible Preferred Stock and upon exercise of the Warrants and certain stock options, as required by Section 13d-3 of the Securities Exchange Act of 1934, as amended.
The General Partner, as general partner to the Fund, and the Investment Advisor, as the investment manager to the Fund, may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by the Fund in this Statement. As principal of the General Partner and the Investment Advisor, Mr. Judd may be deemed to be a beneficial owner of the shares of Common Stock disclosed as directly owned by the Fund in this Statement. Each of the General Partner, the Investment Advisor and Mr. Judd expressly disclaims beneficial ownership of the Fund's shares of Common Stock.
(b)
The Fund beneficially
owns, and has the shared power to direct the voting and disposition
of, the shares of Common Stock disclosed as beneficially owned by
the Fund in the applicable table set forth on the cover page to
this Statement. The General Partner, as the general partner of the
Fund, has the shared power to direct the voting and disposition of
the shares of Common Stock held by the Fund. The Investment
Advisor, as the investment manager of the Fund, has the shared
power to direct the voting and disposition of the shares of Common
Stock held by the Fund. Mr. Judd, as principal of the General
Partner and the Investment Advisor, may also be deemed to have the
shared power to direct the voting and disposition of the shares of
Common Stock held by the Fund.
(c)
The transactions
effected by each of the Reporting Persons since the most recent
filing of the Reporting Persons' Schedule 13D/A are set forth in
Schedule A to this Statement.
(d)
Not
applicable.
(e)
Not
applicable.
Item
6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
The information set
forth in Items 2, 3 and 4 hereof is hereby incorporated herein by
reference. Other than as described in Items 2, 3, and 4 hereof,
there are no other contracts, arrangements, understanding or
relationships (legal or otherwise) with respect to any securities
of the issuer.
Item
7. Material to Be Filed as Exhibits
Not
applicable.
|
SIGNATURES
|
|
Date: January 17, 2019
|
By:
|
/s/
Dayton Judd
|
|
Date: January 17, 2019
|
Sudbury
Capital Fund, LP
|
||||
|
|
By:
|
/s/
Dayton Judd
|
|||
|
|
|
||||
|
|
Name: Dayton Judd
|
||||
|
|
Title: Member of the General Partner of the General Partner of
Sudbury Capital Fund, LP
|
||||
|
Date: January 17,
2019
|
Sudbury
Holdings, LLC
|
||||
|
|
By:
|
/s/
Dayton Judd
|
|||
|
|
|
||||
|
|
Name: Dayton Judd
|
||||
|
|
Title: Sole Member
|
||||
|
Date: January 17,
2019
|
Sudbury
Capital GP, LP
|
||||
|
|
By:
|
/s/
Dayton Judd
|
|||
|
|
|
||||
|
|
Name: Dayton Judd
|
||||
|
|
Title: Member of the General Partner of Sudbury Capital GP,
LP
|
||||
|
Date: January 17,
2019
|
Sudbury
Capital Management, LLC
|
||||
|
|
By:
|
/s/
Dayton Judd
|
|||
|
|
|
||||
|
|
Name: Dayton Judd
|
||||
|
|
Title: Managing Member
|
||||
Schedule
A
Transactions by
Sudbury Holdings, LLC in the
Common Stock of the Company during the past 60
days:
|
Transaction
Date
|
Number
of
Shares Purchased
|
Price
Per
Share
($)
|
Beneficial
Owner
|
|
|
|
|
|
|
December
13, 2018
|
2,500
|
0.41
|
Dayton
Judd
|
|
December
14, 2018
|
13,000
|
0.41
|
Dayton
Judd
|
|
December
17, 2018
|
5,000
|
0.40
|
Dayton
Judd
|
|
December
18, 2018
|
9,169
|
0.40
|
Dayton
Judd
|
|
December
18, 2018
|
18,000
|
0.40
|
Dayton
Judd
|
|
December
27, 2018
|
10,800
|
0.40
|
Dayton
Judd
|
|
December
27, 2018
|
16,100
|
0.37
|
Dayton
Judd
|
|
December
28, 2018
|
15,000
|
0.29
|
Dayton
Judd
|
|
December
31, 2018
|
7,500
|
0.36
|
Dayton
Judd
|
|
January
3, 2019
|
1,022,701
|
0.50
|
Dayton
Judd
|
|
January
4, 2019
|
88,298
|
0.40
|
Dayton
Judd
|