13G Filing: DG Capital Management and Aware Inc (AWRE)

 

Item 3.	If This Statement is filed pursuant to §§.240.13d-1(b) or 240.13d-2(b), or (c), check whether the person filing is a:
	N/A
Item 4.	Ownership.
	Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

	(a)	Amount beneficially owned*:
		DG Capital Management, LLC: 1,120,425
		Dov Gertzulin – 1,120,425
	(b)	Percent of class:
		DG Capital Management, LLC: 5.04%
		Dov Gertzulin: 5.04%
	(c)	Number of shares as to which the person has:

 

	(i)	Sole power to vote or to direct the vote
		DG Capital Management, LLC: 0
		Dov Gertzulin: 0
	(ii)	Shared power to vote or to direct the vote
		DG Capital Management, LLC: 1,120,425
		Dov Gertzulin: 1,120,425
	(iii)	Sole power to dispose or to direct the disposition of
		DG Capital Management, LLC: 0
		Dov Gertzulin: 0
	(iv)	Shared power to dispose or to direct the disposition of
		DG Capital Management, LLC: 1,120,425
		Dov Gertzulin: 1,120,425

 

*Shares
reported herein are held by private investment funds and separately managed accounts (the “DG Entities”) for which
DG Capital Management, LLC serves as the investment manager. Dov Gertzulin serves as the managing member of DG Capital Management,
LLC. By virtue of these relationships, the Reporting Persons may be deemed to have shared voting and dispositive power with respect
to the Shares owned directly by the DG Entities. This report shall not be deemed an admission that the Reporting Persons are beneficial
owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Each of the Reporting Persons disclaims beneficial ownership of the Shares reported herein except to the extent of the Reporting
Person’s pecuniary interest therein.

 

The percentages
herein are calculated based upon a statement in the Issuer’s Annual Report on Form 10-K for the quarter ended December 31,
2016 that there were 22,431,324 shares of Common Stock issued and outstanding as of February 3, 2017, and subsequent Form 8-K
dated March 9, 2017 indicating the Issuer’s purchase of 210,000 shares of the Issuer’s Common Stock, resulting in
22,221,324 shares of Common Stock issued and outstanding as of March 9, 2017.