Amended Statement of Beneficial Ownership (sc 13d/a)
13 September 2017 - 10:22PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange
Act of 1934
(Amendment No. 6)
ANDREA ELECTRONICS
CORPORATION
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(Name of Issuer)
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Common Stock, par value $0.01
per share
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(Title of Class of
Securities)
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Douglas J. Andrea
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620 Johnson Avenue Suite 1-B,
Bohemia, New York 11716
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(Name, Address and Telephone Number of Person
Authorized
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to Receive Notices and
Communications)
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September 12,
2017
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(Date of Event which Requires Filing of this
Statement)
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If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject
of this Schedule 13D, and is filing this schedule because of §240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box.
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CUSIP No.
034393108
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SCHEDULE 13D
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1
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NAME OF REPORTING
PERSONS
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Douglas J.
Andrea
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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(b)
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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PF, OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO
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ITEMS 2(d) or 2(e)
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
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7
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SOLE VOTING
POWER
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344,700
(1)
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8
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SHARED VOTING
POWER
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16,314
(2)
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9
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SOLE DISPOSITIVE
POWER
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344,700
(1)
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10
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SHARED DISPOSITIVE
POWER
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16,314
(2)
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
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6,194,014
(3)
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12
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CHECK IF THE AGGREGATE
AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11);
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8.8% (4)
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14
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TYPE OF REPORTING PERSON
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IN
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(1)
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Does not include
5,833,000 shares subject to options.
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(2)
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Mr. Andrea may be
deemed to be the beneficial owner of 12,438 shares owned by Mr. Andreas
spouse and 3,876 shares owned by Mr. Andreas daughter.
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(3)
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Includes 5,833,000
shares subject to options.
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(4)
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Based on 64,914,935
shares of Company common stock outstanding on August 14, 2017, as reported
in the Form 10-Q for the quarter ended June 30, 2017, plus the 5,833,000
shares that may be acquired by Mr. Andrea within 60 days of September 12,
2017.
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Page 2 of 5
Item
3.
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Source and Amount of Funds or Other
Consideration
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The decrease in Mr. Andreas
beneficial ownership was due to the expiration of 3,000,000 options which
expired pursuant to their terms since the filing of the Schedule 13D/A on August
10, 2015. In addition, since the reporting persons Schedule 13D/A filing on
August 10, 2015, the following options have vested: (i) 500,000 options vested
that were granted on September 2, 2014 which vested in three annual installments
beginning on September 2, 2015; (ii) 333,000 options vested that were granted on
August 7, 2015 which vest in three annual installments beginning on August 7,
2016; and (iii) 1,400,000 options were granted on November 16, 2016 which vest
in three annual installments beginning on November 16, 2017.
Item
5.
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Interest in Securities of the
Issuer
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(a) Mr. Andrea beneficially
owns 6,194,014 common shares, including 5,833,000 shares that may be acquired by
Mr. Andrea within 60 days of September 12, 2017, representing 8.8% of the
64,914,935 issued and outstanding shares of the Companys common stock as of
August 14, 2017. Pursuant to Rule 13d-3, the 5,833,000 shares that may be
acquired by Mr. Andrea within 60 days of September 12, 2017 are also deemed to
be outstanding for purposes of computing the percentage of outstanding shares of
the Companys common stock owned by Mr. Andrea.
Item
6.
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Contracts, Arrangements, Understandings, and
Relationships with Respect to Securities of the Issuer
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Mr. Andrea currently has the
following stock options granted pursuant to the issuers stock option plans:
Date of
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Number of
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Exercise
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Option Plan
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Portion
Vested
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Expiration
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Option
Grant
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Shares
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Price
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(1)
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Date
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08/08/2008
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2,000,000
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$0.04
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2006
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Fully
Vested
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08/08/2018
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08/08/2008
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1,000,000
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$0.04
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2006
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Fully
Vested
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08/08/2018
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07/24/2009
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1,000,000
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$0.11
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2006
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Fully
Vested
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07/24/2019
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08/01/2010
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1,000,000
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$0.13
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2006
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Fully
Vested
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08/01/2020
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09/02/2014
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500,000
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$0.10
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2006
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Fully
Vested
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09/02/2024
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08/07/2015
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500,000
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$0.06
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2006
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333,000
(2)
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08/07/2025
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11/16/2016
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1,400,000
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$0.05
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2006
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0
(3)
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11/16/2026
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(1) Includes amount vested
within 60 days of September 12, 2017.
(2) The stock options vested 33.3% on August 7, 2016 and 33.3% on August
7, 2017; 33.4% will vest on August 7, 2018.
(3) The stock options vest 33.3% on November 16,
2017, 33.3% on November 16, 2018 and 33.4% on November 16, 2019.
Page 3 of 5
Item
7.
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Material to be Filed as
Exhibits
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(1)
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2006 Equity
Compensation Plan of the Registrant, incorporated herein by reference to
Appendix A of the Registrants Schedule 14A filed on October 17,
2006.
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(2)
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Form of Option
Agreement, incorporated herein by reference to Exhibit 4 of the Reporting
Persons Schedule 13D, filed June 5, 2009.
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(3)
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Amendment to 2006
Equity Compensation Plan, incorporated herein by reference to Exhibit 10.2
to the Registrants Form 10-K, File No. 001-04324, filed March 16,
2010.
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(4)
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Employment Agreement,
dated as of August 1, 2014 by between Andrea Electronics Corporation and
Douglas J. Andrea, incorporated herein by reference to Exhibit 10.1 to the
Registrants Form 8-K, File No. 001-04324, filed September 8,
2014.
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Page 4 of 5
SIGNATURE
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.
September 13,
2017
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By:
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/s/
Douglas J. Andrea
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Douglas J.
Andrea
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Page 5 of 5
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