Amended Statement of Beneficial Ownership (sc 13d/a)
December 23 2022 - 1:01PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
(Rule
13d-101)
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO
§ 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§
240.13d-2(a)
(Amendment
No. 1)1
Schmitt
Industries, Inc.
(Name
of Issuer)
Common
Stock, no par value
(Title
of Class of Securities)
806870200
(CUSIP
Number)
DAVID
E. LAZAR
Villa 1, 14-43rd Street
Jumeirah 2
Dubai, United Arab Emirates
(646) 768-8417
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
December
21, 2022
(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 ☐.
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.
| 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 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).
1 |
NAME OF REPORTING PERSONS
DAVID E. LAZAR |
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ☐
(b) ☐ |
3 |
SEC USE ONLY
|
4 |
SOURCE OF FUNDS
OO, PF |
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐
|
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Portugal, Israel |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER
- 0 - |
8 |
SHARED VOTING POWER
- 0 - |
9 |
SOLE DISPOSITIVE POWER
- 0 - |
10 |
SHARED DISPOSITIVE POWER
- 0 - |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 - |
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES ☐ |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% |
14 |
TYPE OF REPORTING PERSON
IN |
The
following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned (“Amendment No. 1”). This Amendment No.
1 amends the Schedule 13D as specifically set forth herein.
| Item
2. | Identity
and Background. |
Item
2 is hereby amended and restated to read as follows:
| (a) | This
statement is filed by David E. Lazar (the “Reporting Person”) with respect to the Shares he directly beneficially
owns. |
| (b) | The
principal business address of Mr. Lazar is Villa 1, 14-43rd Street, Jumeirah 2, Dubai, United Arab Emirates. |
| (c) | Mr.
Lazar is a private investor. |
| (d) | The
Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors). |
| (e) | The
Reporting Person has not, during the last five years, been 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.
Lazar is a citizen of Portugal and Israel. |
| Item
5. | Interest
in Securities of the Issuer. |
Items
5(a) – (c) and (e) are hereby amended and restated to read as follows:
The
aggregate percentage of Shares reported owned by each person named herein is based upon 3,872,134 Shares outstanding, which is the total
number of Shares outstanding as of October 11, 2022, as reported in the Issuer’s Registration Statement on Form S-1 filed with
the Securities and Exchange Commission on October 13, 2022.
| (a) | As
of the close of business on December 22, 2022, Mr. Lazar does not beneficially own any Shares. |
Percentage:
0%
| (b) | 1.
Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 0 |
| (c) | On
April 1, 2022, the Shares directly beneficially owned by Activist Investing LLC and Custodian
Ventures LLC were transferred to Mr. Lazar’s individual account. As a result, Activist
Investing LLC and Custodian Ventures LLC no longer beneficially own any Shares and will cease
to be Reporting Persons effective as of the filing of this Amendment No. 1 to the Schedule
13D. The transactions in the Shares by the remaining Reporting Person during the past sixty
days are set forth in Schedule A and are incorporated herein by reference. |
The
filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities
Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of
the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
| (e) | As
of December 21, 2022, the Reporting Person ceased to beneficially own 5% of the Shares. |
SIGNATURES
After
reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement
is true, complete and correct.
Dated:
December 23, 2022
|
/s/
David E. Lazar |
|
DAVID
E. LAZAR |
SCHEDULE
A
Transaction
in the Shares During the Past Sixty Days
Nature of Transaction |
|
Common Stock
Sold |
|
|
Price Per
Share($) |
|
|
Date of
Sale |
|
|
|
|
|
|
|
|
|
|
|
DAVID E. LAZAR |
|
|
|
Sale of Common Stock |
|
|
159,900 |
|
|
|
0.32501 |
|
|
|
12/21/2022 |
|
Sale of Common Stock |
|
|
51,000 |
|
|
|
0.27962 |
|
|
|
12/21/2022 |
|
Sale of Common Stock |
|
|
148,259 |
|
|
|
0.25303 |
|
|
|
12/22/2022 |
|
| 1 | Represents
a weighted average price. These Shares were sold in multiple transactions at prices ranging from $0.2900 to $0.3852, inclusive. The Reporting
Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon
request, full information regarding the number of Shares sold at each separate price within the range set forth in this footnote. |
| 2 | Represents
a weighted average price. These Shares were sold in multiple transactions at prices ranging from $0.2704 to $0.3089, inclusive. The Reporting
Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon
request, full information regarding the number of Shares sold at each separate price within the range set forth in this footnote. |
| 3 | Represents
a weighted average price. These Shares were sold in multiple transactions at prices ranging from $0.2162 to $0.3045, inclusive. The Reporting
Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon
request, full information regarding the number of Shares sold at each separate price within the range set forth in this footnote. |
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