SCHEDULE 13D
(Amendment No. 4)
Item 1. Security and Issuer.
This Amendment No. 4 amends and supplements the statement on Schedule 13D filed on April 6, 2010, as amended by Amendment No 1 filed on July 21, 2010, Amendment No 2 filed on September 28, 2010 and Amendment No 3 filed on December 2, 2010 (collectively, the “Schedule 13D”), relating to the common stock, par value $0.001 per share (the “Common Stock”), of Ruby Creek Resources, Inc., a Delaware corporation (the “Company” or the “Issuer”) and is filed with the Securities and Exchange Commission on behalf of David Bukzin and Booha Family Partners. Except as disclosed herein, there has been no change in the information previously reported in the Schedule 13D. Capitalized terms not defined herein shall have the meaning ascribed to them in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item No. 3 of Schedule 13D is supplemented and amended by inserting the following at the end thereof:
On March 23, 2011, Booha elected to exercise the November Warrant for an aggregate exercise price of $50,000. These funds were obtained from the working capital of Booha. Subsequent to the exercise of the November Warrant, Booha made a distribution to its partners of all of the Company’s securities owned by it. Accordingly, David Bukzin received 4,994,877 shares of Common Stock and warrants to purchase 1,690,000 shares of Common Stock from Booha. Mr. Bukzin subsequently made gifts of an aggregate 150,000 shares of Common Stock to various unrelated individuals and entities.
Item 4. Purpose of Transaction.
The Reporting Person acquired the securities referenced in Item 3 above solely for the purpose of investment.
This amendment is being filed to disclose that on March 23, 2011 Booha exercise the November Warrant in full into an aggregate of 1,000,000 shares of the Company’s Common Stock. In addition, on such date, Booha distributed all shares of Company Common Stock held by it to its partners, with 4,994,877 shares of Common Stock being transferred to Mr. Bukzin. On March 30, 2011, Booha distributed warrants to purchase 1,690,000 shares of Common Stock to Mr. Bukzin, with the result that Booha is no longer a beneficial owner of the Company’s securities. Lastly, Mr. Bukzin subsequently gifted an aggregate of 150,000 shares of Common Stock to unrelated parties.
The Reporting Person intends to review their investment in the Company from time to time. Subject to the limitations set forth herein and depending upon (i) the price and availability of the Common Stock, (ii) subsequent developments affecting the Company, (iii) the Company’s business and prospects, (iv) other investment and business opportunities available to the Reporting Person, (v) general stock market and economic conditions, (vi) tax considerations, and (vii) other factors deemed relevant, the Reporting Person may decide to convert and/or exercise all or a portion of the derivative securities set forth herein and/or increase or decrease the size of their investment in the Company and/or make a proposal with respect to a recapitalization of the Company or similar transaction.
Except as described in this Schedule 13D, none of the Reporting Person have any present plan or proposal which relates to, or could result in, any of the events referred to in paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D. However, the Reporting Person will continue to review the business of the Company and, depending upon one or more of the factors referred to above, may in the future propose that the Company take one or more of such actions.