13G Filing: Vertex One Asset Management and Lilis Energy Inc. (LLEX)

Cusip No. 53240320113GPage 6 of 9 pages

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Item 3.

Not applicable

Item 4 Ownership.

The 7,029,243 shares of Common Stock reported as beneficially owned by Vertex One and John Thiessen are all shares held by persons in respect of which Vertex One acts as fund manager; Mr. Thiessen is the principal of Vertex One with discretionary control over the assets of such persons.  Vertex One is a corporation formed and operating under the laws of British Columbia, Canada.

The approximate percentages of shares of common stock reported as beneficially owned by the Reporting Persons are based upon 49,940,469 shares of Common Stock outstanding as of April 26, 2017 based on the Issuer’s Form S-1 filed with the Securities and Exchange Commission on April 27, 2017 (the “Registration Statement”).  This number assumes that no shares have been issued pursuant to the Registration Statement.  

Please see Items 5, 6, 7, 8, 9 and 11 for each cover sheet for each Reporting Person.

The Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Act.  Each Reporting Person disclaims the existence of a “group” and, except as set forth below, disclaims beneficial ownership of all shares of Common Stock or securities convertible into or exercisable for Common Stock other than any shares or other securities reported herein as being directly owned by it or him, as the case may be.  Each of the Reporting Persons states that it or he, as the case may be, is included in this filing solely for the purpose of presenting information with respect to the beneficial ownership of the shares of Common Stock and disclaims any knowledge, except as hereinafter expressly set forth, as to any statements made herein on behalf of any other Reporting Person. Each Reporting Person is signing this statement only as to information with respect to, or furnished by, such Reporting Person, and makes no representation as to information furnished by any other Reporting Person.

Item 5 Ownership of Five Percent or Less of a Class.

Not applicable

Item 6 Ownership of More than Five Percent on Behalf of Another Person.

Not applicable

Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

Not applicable

Item 8 Identification and Classification of Members of the Group.

Not applicable.