Amended Statement of Ownership (sc 13g/a)
February 23 2022 - 4:00PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Staffing
360 Solutions, Inc.
(Name of Issuer)
Common Stock,
$0.00001 par value
(Title of Class of Securities)
095428108
(CUSIP Number)
December
31, 2021
(Date of event which requires filing of this
statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule 13G is filed:
| o |
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Rule 13d-1(b) |
| x |
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Rule 13d-1(c) |
| o |
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Rule 13d-1(d) |
(Page 1 of 10 Pages)
*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 the disclosures provided in a prior cover page.
The information required in 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. 095428108
| 1 |
NAMES OF REPORTING PERSONS
Iroquois Capital Management L.L.C. |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
(a) o
(b) o |
| 3 |
SEC USE ONLY |
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH |
5 |
SOLE VOTING POWER
|
| 6 |
SHARED VOTING POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 7 |
SOLE DISPOSITIVE POWER
|
| 8 |
SHARED DISPOSITIVE POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
109,511 shares of Common Stock issuable upon exercise
of Warrants
|
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
o |
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% |
| 12 |
TYPE OF REPORTING PERSON
OO |
| |
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CUSIP No. 095428108
| 1 |
NAMES OF REPORTING PERSONS
Richard Abbe |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
(a) o
(b) o |
| 3 |
SEC USE ONLY |
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH |
5 |
SOLE VOTING POWER
46,934 shares of Common Stock
issuable upon exercise of Warrants |
| 6 |
SHARED VOTING POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 7 |
SOLE DISPOSITIVE POWER
46,934 shares of Common Stock
issuable upon exercise of Warrants |
| 8 |
SHARED DISPOSITIVE POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
156,445 shares of Common Stock issuable upon exercise
of Warrants
|
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
o |
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.9% |
| 12 |
TYPE OF REPORTING PERSON
IN; HC |
| |
|
|
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|
CUSIP No. 095428108
| 1 |
NAMES OF REPORTING PERSONS
Kimberly Page |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
(a) o
(b) o |
| 3 |
SEC USE ONLY |
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH |
5 |
SOLE VOTING POWER
|
| 6 |
SHARED VOTING POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 7 |
SOLE DISPOSITIVE POWER
|
| 8 |
SHARED DISPOSITIVE POWER
109,511 shares of Common Stock issuable upon exercise
of Warrants |
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
109,511 shares of Common Stock issuable upon exercise
of Warrants
|
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
o |
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% |
| 12 |
TYPE OF REPORTING PERSON
IN |
| |
|
|
|
|
CUSIP No. 095428108
This Amendment No. 1 (this “Amendment”) amends the statement
on Schedule 13G filed on January 4, 2021 (the “Original Schedule 13G”) with respect to the Common Stock, $0.00001 par
value (the “Common Stock”) of Staffing 360 Solutions, Inc. (the “Company”). Capitalized terms used herein
and not otherwise defined in this Amendment have the meanings set forth in the Original Schedule 13G. This Amendment amends and
restates each of Item 4 and Item 5 in its entirety as set forth below.
Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified in Item 1.
The information as of the date of the event which requires filing
of this statement required by Items 4(a) – (c) is set forth in Rows 5 – 11 of the cover page for each Reporting Person
hereto and is incorporated herein by reference for each such Reporting Person. The percentage set forth in Row 11 of the cover
page for each Reporting Person is based on 17,249,150 shares of Common Stock outstanding as reported in the Issuer’s Quarterly
Report on Form 10-Q for the quarter ended October 2, 2021 filed with the U.S. Securities and Exchange Commission on November 16,
2021, and assumes the exercise of the Company’s reported warrants (the “Reported Warrants”) subject to the Blocker
(as defined below).
Pursuant to the terms of the Reported Warrants, the Reporting Persons
cannot exercise the Reported Warrants to the extent the Reporting Persons would beneficially own, after any such exercise, more
than 4.99% of the outstanding shares of Common Stock (the “Blocker”), and the percentage set forth in Row 11 of the
cover page for each Reporting Person gives effect to the Blocker.
As of the date of the event which
requires filing of this statement, Iroquois Master Fund Ltd. (“Iroquois Master Fund”) held Reported Warrants to purchase
109,511 shares of Common Stock (subject to the Blocker) and Iroquois Capital Investment Group LLC (“ICIG”) held Reported
Warrants to purchase 46,934 shares of Common Stock (subject to the Blocker).
Mr. Abbe shares authority and responsibility for the investments
made on behalf of Iroquois Master Fund with Ms. Kimberly Page, each of whom is a director of the Iroquois Master Fund. As such,
Mr. Abbe and Ms. Page may each be deemed to be the beneficial owner of all shares of Common Stock underlying the Reported Warrants
(each subject to the Blocker) held by Iroquois Master Fund. Iroquois Capital is the investment advisor for Iroquois Master Fund
and Mr. Abbe is the President of Iroquois Capital. Mr. Abbe has the sole authority and responsibility for the investments made
on behalf of ICIG. As such, Mr. Abbe may be deemed to be the beneficial owner of all shares of Common Stock underlying the Reported
Warrants (each subject to the Blocker) held by Iroquois Master Fund and ICIG. The foregoing should not be construed in and of itself
as an admission by any Reporting Person as to beneficial ownership of shares of Common Stock owned by another Reporting Person.
Each of the Reporting Persons hereby disclaims any beneficial ownership of any such shares of Common Stock except to the extent
of their pecuniary interest therein.
| Item 5. |
Ownership of Five Percent or Less of a Class |
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check
the following: x
By signing below each of the undersigned certifies that, to the
best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
CUSIP No. 095428108
SIGNATURES
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: February 22, 2022
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IROQUOIS CAPITAL MANAGEMENT L.L.C. |
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By: |
/s/ |
Richard Abbe |
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Richard Abbe, President |
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/s/ Richard Abbe |
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Richard Abbe |
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/s/ Kimberly Page |
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Kimberly Page |
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