SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
CryptoLogic Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
228906103
(CUSIP Number)
Copy to:
Adam Abramson D. Grant Vingoe
Strategic Capital Partners, Inc. Dorsey & Whitney LLP
1303 Yonge Street, Suite 101 161 Bay Street, Suite 4310
Toronto, Ontario, Canada Toronto, Ontario, Canada
M4T 2Y9 M5J 2S1
(416) 867-9771 (416) 367-7370
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 2, 2003
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Secs. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. |_|
CUSIP No. 228906103
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
1340649 Ontario Limited
I.R.S. Identification No. -- Not Applicable
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 6,700
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
992,211*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
--------------------------------------------------------------------------------
* See Item 5
CUSIP No. 228906103
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Strategic Advisors Corp.
I.R.S. Identification No. -- Not Applicable
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
535,825
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 535,825
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
992,211*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IA
--------------------------------------------------------------------------------
* See Item 5
CUSIP No. 228906103
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Strategic Capital Partners Inc.
I.R.S. Identification No. -- Not Applicable
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
435,436
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 435,436
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
992,211*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
BD
--------------------------------------------------------------------------------
* See Item 5
CUSIP No. 228906103
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Randall Abramson
I.R.S. Identification No. -- Not Applicable
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario, Canada
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
14,250
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 6,700
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 14,250
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
992,211*
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%*
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
BD
--------------------------------------------------------------------------------
* See Item 5
Item 1. Security and Issuer
This Amendment 1 to Schedule 13D amends the Schedule 13D dated August 1,
2003. Capitalized terms used in this Amendment are defined in the Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) Since Abramson, Holdco, SAC and SCPI comprise a "group" within
the meaning of Section 13(d)(3) of the Exchange Act of 1934,
as amended, each Reporting Person is reporting beneficial
ownership in accordance with Exchange Act Rule 13d-5(a). As of
the close of business on September 9, 2003, each Reporting
Person's beneficial ownership of Common Stock was 992,211
shares. Of this amount, 14,250 shares of Common Stock are held
by Abramson directly (including 775 shares owned by Abramson's
spouse, Elissa Strom); 6,700 shares of Common Stock are held
by Holdco directly; 435,436 shares of Common Stock are owned
by advisory clients of SCPI and held in accounts managed by
SCPI and 535,825 shares of Common Stock are owned by advisory
clients of SAC and held in accounts managed by SAC.
(b) The responses of the Reporting Persons to Items 7 through 13
on the cover pages and the responses of the directors and
executive officers of the Reporting Persons set forth on
Schedule 1 are incorporated herein by reference. All responses
reflect the beneficial ownership as of the close of business
on September 9, 2003. Abramson exercises sole voting and
dispositive power over shares held directly by him and shared
voting and dispositive power over shares held by Holdco.
Holdco exercises shared voting and dispositive power over
shares held by it. SAC exercises sole voting and dispositive
power over shares held in discretionary investment accounts
managed by it. SCPI exercises sole voting and dispositive
power over shares held in discretionary investment accounts
managed by it. The Reporting Persons disclaim beneficial
ownership in Common Stock owned by the directors and officers
of the Reporting Persons listed on Schedule 1. Percentage
ownership responses are based on the outstanding number of
shares set forth in CryptoLogic Inc.'s annual report on Form
20-F for the year ended December 31, 2002.
(c) Except for the transaction to which this Amendment 1 to
Schedule 13D relates, no transactions with respect to the
Common Stock have been effected since the filing of the
Schedule 13D by the Reporting Persons or, to the best
knowledge of the Reporting Persons, any executive officer or
director of any Reporting Person. Set forth on Schedule 2
hereto is the following information with respect to each
transaction: (1) the date of the transaction, (2) the identity
of the Reporting Person that effected the transaction, (3)
whether the transaction was a purchase or sale of Common
Stock, (4) the amount of Common Stock involved, and (5) the
average price per share of Common Stock (reported in Canadian
dollars). In each
case, the transaction was executed on the facilities of the
Toronto Stock Exchange or the Nasdaq national market system.
Item 7. Material to be Filed as Exhibits
Exhibit 1 Joint Filing Agreement, dated August 1, 2003, by and between
Holdco, SAC, SCPI and Abramson. (previously filed)
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 September 10, 2003
1340649 Ontario Limited
/s/ Randall Abramson
----------------------------------------
Randall Abramson
Chief Executive Officer
Strategic Advisors Corp.
/s/ Randall Abramson
----------------------------------------
Randall Abramson
Chief Executive Officer
Strategic Capital Partners Inc.
/s/ Randall Abramson
----------------------------------------
Randall Abramson
Vice President
/s/ Randall Abramson
----------------------------------------
Randall Abramson
Schedule 1
INFORMATION FOR REPORTING PERSONS AND DIRECTORS AND EXECUTIVE
OFFICERS OF REPORTING PERSONS
The following tables set forth the name, business address and present
principal occupation of each director and executive officer of each of the
Reporting Persons. Each person listed has sole voting power or shared voting
power with respect to and beneficially owns shares of the common stock of
CryptoLogic Inc. as indicated in the table below. Except with respect to shares
held by Mr. Adam Abramson and Mr. Braun, the shares described below are not
included in the beneficial ownership of CryptoLogic Inc. common stock reported
by the Reporting Persons in this filing. Each officer or director listed below
disclaims beneficial ownership of all shares held by the Reporting Persons. Each
person listed below is a citizen of Canada and the principal occupation of such
person is his or her affiliation with the Reporting Person indicated below.
Name: Relationship to Reporting Person: Beneficial Ownership:
----- --------------------------------- ---------------------
Adam Lyle Abramson SAC: Director, Vice-President and Analyst 1,400(1)
SCPI: Director, Vice-President and Analyst
Herbert Abramson SAC: Chairman of the Board of Directors; 45,355(2)
Portfolio Manager
SCPI: Director, Portfolio Manager,
President and Chief Executive Officer
Martin Gerald Braun SAC: Director, President and Portfolio 1,800
Manager
Donald Hugh Carlisle SAC: Vice-President and Portfolio Manager 40,950(3)
William Richard Hermon Holdco: Director and Vice-President 3,020
SCPI: Portfolio Manager and Branch
Manager
William John Moore SAC: Vice-President and Portfolio Manager --
(1) Includes 775 shares held by Mr. Abramson's spouse, Bonnie Goldberg.
(2) Includes 17,825 shares held by Technifund Inc., a company controlled
by Mr. Abramson.
(3) Includes 600 shares held by Mr. Carlisle's spouse, Janice Carlisle;
12,500 shares held by the Donald Cook Carlisle Family Trust, of
which Mr. Carlisle is a beneficiary and trustee; and 4,300 shares
held by 1051937 Ontario Limited, a company controlled by Mr.
Carlisle.
The business address for Mr. Herbert Abramson is 1303 Yonge Street, Suite
101, Toronto, Ontario, Canada M4T 2Y9. The business address for Mr. Hermon is 17
York Street, Suite 202, Ottawa, Canada K1N 9J6. The business address for Mr.
Adam Abramson, Mr. Braun, Mr. Carlisle and Mr. Moore is 1311 Yonge Street,
Toronto, Ontario, Canada M4T 3B6.
Schedule 2
CryptoLogic Inc. Transaction History for 1346049 Ontario Limited, Randall
Abramson, and Strategic Advisors Corp. (SAC) and Strategic Capital Partners Inc.
(SCPI) on behalf of their respective managed accounts
Average
Number of Transaction
Transaction Date Reporting Person Buy/Sell Shares Price (C$)
---------------- ---------------- -------- ------ ----------
September 8, 2003 SAC/SCPI Sell 2,600 13.9590
September 2, 2003 SAC/SCPI Sell 19,200 14.2371
August 26, 2003 SAC/SCPI Sell 4,600 13.1494
August 22, 2003 SAC/SCPI Sell 15,000 13.4301
August 20, 2003 SAC/SCPI Sell 300 13.1500
August 19, 2003 SAC/SCPI Sell 15,000 13.2724
August 18, 2003 SAC/SCPI Sell 69,500 12.9744
August 6, 2003 SAC/SCPI Sell 1,000 9.4200
August 5, 2003 SAC/SCPI Sell 500 9.3900
August 1, 2003 SAC/SCPI Sell 250 9.2900
1