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>>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)
INFORMATION TP BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
|
SPANISH BROADCASTING SYSTEMS, INC.
|
|
(Name of Issuer)
|
|
Class A Class A Common Stock, Par Value $0.0001 per share
|
|
(Title of Class of Securities)
|
|
846425833
|
|
(CUSIP Number)
|
|
Bluestone Financial LTD
|
|
Vanterpool Plaza, 2nd Floor, Wickhams Cay I, Road Town,
|
|
Tortola, British Virgin Islands
|
|
Name, Address and Telephone Number of Person
|
|
Authorized to Receive Notices and Communications)
|
|
March 12, 2021
|
|
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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) 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. 846425833
|
SCHEDULE 13D
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
BLUESTONE FINANCIAL LTD .
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☒
|
||
|
(b)
|
☐
|
||||
|
|
|
||||
|
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|
|||
|
|
|
||||
|
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
|
WC
|
|
|
|||
|
|
|
||||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
BRITISH VIRGIN ISLANDS (BVI)
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
|
724,626 Shares
|
|
|
|||
|
|
|
||||
|
8
|
SHARED VOTING POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
724,626 Shares
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
724,626 Shares
|
|
|
|||
|
|
|
||||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
|
17.08%
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
FI
|
|
|
|||
|
|
|
||||
United States
Securities and Exchange Commission
Schedule 13D
| Item 1. |
Security and Issuer
|
This statement relates to the Class A Class A Common Stock, with $.0001 par value per share (the “Class A Class A Common Stock”issued by Spanish Broadcasting Systems, Inc. (the “Company” whose principal executive
offices are located at 7007 NW 77th Street, Miami, Florida 33166. Tel. (305) 441-6901
| Item 2. |
Identity and Background
|
|
a)
|
Bluestone Financial LTD (“Bluestone Reporting Person”)
|
|
b)
|
The purpose of the business of the Bluestone Reporting person is Financial Investing. The Bluestone Reporting Person is a Limited Company incorporated under the laws of Bristish virgin Islands. David
Tomasello is the Managing Director of the Bluestone Reporting Person.
|
|
c)
|
The address(es) of the Bluestone Reporting Person is: Vanterpool Plaza, 2ndFloor, Wickhams Cay I, Road Town, Tortola, British Virgin Islands.
|
|
d)
|
None
|
|
e)
|
None
|
|
f)
|
Organized in BVI
|
| Item 3. |
Source and Amount of Funds or Other Consideration
|
The Reporting Person used working capital to make all acquisitions of Class A Common Stock currently owned.
| Item 4. |
Interest in Securities of the Issuer
|
| a) |
As indicated in the Form 10Q, filed by the Company with the Securities and Exchange Commission As of June 24, 2020, there were 4,241,991 shares of Class A common stock, par value $0.0001 per share.
|
| b) |
As of the date of this Schedule D: The Bluestone Reporting Person owns 724,626 shares of Class A Common Stock which is approximately 17.08% of the total shares of the Company’s Class A Common Stock calculated in
accordance with Rule d-3 promulgated under the Securities Act of 1934
|
| Item 5. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
|
As indicated in Item 4 (b), The Bluestone Reporting Person owns 724,626 shares of Class A Common Stock and has granted David Tomasello, Managing Director of Bluestone , the sole power to vote or direct the vote of
724,626 shares of the Company’s Class A Common Stock.
There are no contracts, arrangements, understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect to any securities of the Issuer, other than
those disclosed in the present filing.
| Item 6. |
Material to Be Filed as Exhibits.
|
None
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: March 12, 2021
|
|
|
s/ David Tomasello
|
|
|
David Tomasello, as Managing Director of Bluestone Financial LTD
|