The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned (“Amendment No. 1”). This Amendment No. 1 amends the Schedule 13D as specifically set forth herein.
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended to add the following:
On September 1, 2016, the Issuer issued 299,250 Shares to Srinidhi “Dev” Devanur in connection with the completion of the Issuer’s acquisition of Ameri Consulting Service Private Limited (“Ameri India”) on July 1, 2016, pursuant to the terms of a Stock Purchase Agreement dated May 26, 2015, for aggregate consideration consisting of (i) $1.00 and (ii) the consideration furnished by the Issuer to Srinidhi “Dev” Devanur and Giri Devanur and their affiliates pursuant to that certain Agreement of Merger and Plan of Reorganization, dated as of May 26, 2015 (the “Merger Agreement”), as disclosed in the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 26, 2015.
Item 5. | Interest in Securities of the Issuer. |
Items 5(a)-(c) are hereby amended and restated as follows:
The aggregate percentage of Shares reported owned by each person named herein is based upon 13,885,972 Shares, which represents (1) the 13,586,722 Shares outstanding as of August 12, 2016, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on August 12, 2016 plus (2) the 299,250 Shares issued to Mr. Devanur upon the closing of the Merger.
| (a) | As of the close of business on September 6, 2016, Mr. Devanur beneficially owned 6,276,375 Shares. |
Percentage: Approximately 45.2%
| (b) | 1. Sole power to vote or direct vote: 6,276,375 |
| 2. Shared power to vote or direct vote: 0 |
| 3. Sole power to dispose or direct the disposition: 6,276,375 |
| 4. Shared power to dispose or direct the disposition: 0 |
| (c) | Mr. Devanur acquired 299,250 Shares in connection with the completion of the Issuer’s acquisition of Ameri India as further described in Item 3 above. |
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: September 6, 2016
| /s/ Srinidhi Devanur |
| SRINIDHI DEVANUR |