SEC Info - Grin Eugene, et al. - ‘3’ for 9/13/07 re: 180 Connect Inc.

<?xml version="1.0" encoding="windows-1252"?>

<issuerName> 180 Connect Inc. </issuerName>

</issuer>

<rptOwnerName> LAURUS MASTER FUND LTD </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> C/O LAURUS CAPITAL MANAGEMENT, LLC </rptOwnerStreet1>

<rptOwnerStreet2> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet2>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> LAURUS CAPITAL MANAGEMENT LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> Valens U.S. SPV I, LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> Valens Capital Management, LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> GRIN DAVID </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> C/O LAURUS CAPITAL MANAGEMENT, LLC </rptOwnerStreet1>

<rptOwnerStreet2> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet2>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> GRIN EUGENE </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> C/O LAURUS CAPITAL MANAGEMENT, LLC </rptOwnerStreet1>

<rptOwnerStreet2> 335 MADISON AVENUE, 10TH FLOOR </rptOwnerStreet2>

</reportingOwnerAddress>

<otherText> Disclaimed Group </otherText>

</reportingOwnerRelationship>

</reportingOwner>

<value> Common Stock </value>

</securityTitle>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

</ownershipNature>

</nonDerivativeHolding>

</nonDerivativeTable>

<value> Common Stock Warrants (right to buy) </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

</ownershipNature>

</derivativeHolding>

<value> Common Stock Warrants (right to buy) </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> By Valens U.S. SPV I, LLC </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Common Stock Warrants (right to buy) </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

</ownershipNature>

</derivativeHolding>

</derivativeTable>

<footnote id="F1"> As of September 13, 2007, Laurus Master Fund, Ltd., a Cayman Islands corporation (the "Fund"), and Valens U.S. SPV I, LLC, a Delaware limited liability company ("Valens U.S." and together with the Fund, the "Investors"), held (i) a warrant (the "July Warrant") to acquire 600,000 shares of the common stock, par value $0.0001 per share (the "Shares"), of 180 Connect Inc., a Delaware corporation (the "Company"), at an exercise price of $4.35 per Share, subject to certain adjustments, (ii) a warrant (the "August Warrant") to acquire 250,000 Shares, at an exercise price of $4.01 per Share, subject to certain adjustments, and (iii) 2,908,407 Shares. The July Warrant contains an issuance limitation prohibiting the Investors from exercising or converting those securities to the extent that such exercise would result in beneficial ownership by the Investors of more than 9.99% of the Shares then issued and outstanding (the "Issuance Limitation"). </footnote>

<footnote id="F2"> The Fund is managed by Laurus Capital Management, LLC, a Delaware limited liability company ("LCM"). Valens U.S. is managed by Valens Capital Management, LLC, a Delaware limited liability company ("VCM"). Eugene Grin and David Grin, through other entities, are the controlling principals of LCM and VCM, and share sole voting and investment power over all securities of the Company held by the Investors. Thus, for the purposes of Reg. Section 240.13d-3, Valens U.S., LCM, VCM, Eugene Grin and David Grin may be deemed to be beneficial owners of more than 10% of the Shares. The Fund disclaims beneficial ownership of the securities reported herein held by Valens U.S., except to the extent of such person's pecuniary interest in Valens U.S., if any. Valens U.S. disclaims beneficial ownership of the securities reported herein held by the Fund, except to the extent of such person's pecuniary interest in the Fund, if any. </footnote>

<footnote id="F3"> Each of LCM, VCM, Eugene Grin and David Grin disclaims beneficial ownership of the securities reported herein except to the extent of such person's pecuniary interest in the Investors, if any. The filing of this statement by any reporting person shall not be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any equity securities covered by this statement. </footnote>

</footnotes>

<signatureName> By: /s/ Eugene Grin, Director of Laurus Master Fund, Ltd. </signatureName>

</ownerSignature>

<signatureName> By: /s/ David Grin, Principal of Laurus Capital Management, LLC </signatureName>

</ownerSignature>

<signatureName> By: /s/ David Grin, Authorized Signatory of Valens U.S. SPV I, LLC </signatureName>

</ownerSignature>

<signatureName> By: /s/ Eugene Grin, Authorized Signatory of Valens U.S. SPV I, LLC </signatureName>

</ownerSignature>

<signatureName> By: /s/ David Grin, Principal of Valens Capital Management, LLC </signatureName>

</ownerSignature>

<signatureName> By: /s/ Eugene Grin, Principal of Valens Capital Management, LLC </signatureName>

</ownerSignature>

<signatureName> By: /s/ David Grin </signatureName>

</ownerSignature>

<signatureName> By: /s/ Eugene Grin </signatureName>

</ownerSignature>

</ownershipDocument>

Grin Eugene, et al. – ‘3’ for 9/13/07 re: 180 Connect Inc.

On: Monday, 9/24/07, at 3:14pm ET · For: 9/13/07 · As: 10% Owner and Other · Accession #: 1005477-7-5040 · File #: 1-33670

Previous ‘3’: ‘3’ on 2/2/06 for 12/12/05 · Next: ‘3/A’ on 10/5/07 for 9/13/07 · Latest: ‘3’ on 7/29/13 for 7/18/13

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Grin Eugene, et al. – ‘3’ for 9/13/07 re: 180 Connect Inc.

On: Monday, 9/24/07, at 3:14pm ET · For: 9/13/07 · As: 10% Owner and Other · Accession #: 1005477-7-5040 · File #: 1-33670

Previous ‘3’: ‘3’ on 2/2/06 for 12/12/05 · Next: ‘3/A’ on 10/5/07 for 9/13/07 · Latest: ‘3’ on 7/29/13 for 7/18/13

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents