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"
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- Peter Lynch
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
Under
the Securities Exchange Act of 1934
(Amendment
No. 1)*
EClips
Media Technologies, Inc.
(Name
of Issuer)
Common
Stock
(Title
of Class of Securities)
277885J101
(CUSIP
Number)
110
Greene Street, Suite 403, New York, NY 10012
(Name,
Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December
7, 2010
(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.
(Continued
on following pages)
(Page 1
of 3 Pages)
———————
* 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).
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CUSIP
No. 277885J101
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13D
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Page
2 of 3 Pages
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1
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NAME
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Eric
Simon
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
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o | ||
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(b)
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o | ||
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3
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SEC
USE ONLY
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4
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SOURCE
OF FUNDS
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5
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
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| o | |||
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
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NUMBER OF
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7
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SOLE
VOTING POWER
0
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SHARES
BENEFICIALLY
OWNED BY
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8
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SHARED
VOTING POWER
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EACH
REPORTING
PERSON
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9
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SOLE
DISPOSITIVE POWER
0
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WITH
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10
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SHARED
DISPOSITIVE POWER
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
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| o | |||
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14
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TYPE
OF REPORTING PERSON
IN
-
Individual
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CUSIP
No. 277885J101
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13D
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Page 3
of 3 Pages
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This
Amendment No.1 to Schedule 13D amends and supplements the Schedule 13D filed
with the Securities and Exchange Commission on July 1, 2010 (the “Original
Schedule 13D”) by Eric Simon (the “Reporting Person”).
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Item
4.
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Purpose
of Transaction
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Item 4 is
hereby amended and supplemented as follows:
On
December 7, 2010, the Reporting Person retired all of his shares of common stock
pursuant to a Spinoff Agreement(the “Agreement”) between the Issuer, Mr. Simon
and Brand Interaction Group, LLC (“BIG”). Under the Agreement these
shares are being retired to the Issuer in exchange for (i) 100% of the issued
and outstanding capital stock of SD Acquisition Corp., which owned and operated
the Superdaft business, (ii) the cancellation of the asset purchase agreement
and employment agreement entered into between the Issuer, Mr. Simon and BIG in
June 2010 and (iii) certain payments to be made by BIG to some of the Issuer’s
noteholders. As a result of the transactions, the Reporting Person
does not own any shares of common stock.
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Item
5.
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Interest
in Securities of the Issuer.
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Item 5 is
hereby amended and supplemented as follows:
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As
of December 7, 2010, as a result of the transactions described in Item 4
above, Reporting Person does not own any shares of the Issuer’s Common
Stock and Reporting Person ceased to be the beneficial owner of more than
5% of the Issuer’s Common Stock. Other than the transactions described in
Item 4 above, Reporting Person has not effectuated any other transactions
involving the securities in the last 60
days.
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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.
Date:
December 20, 2010
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/s/
Eric Simon
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Eric
Simon
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