sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 2)(1)
Metro One Telecommunications, Inc.
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
59163F 10 5
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(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 24, 2006
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(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
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(1) 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 disclosures provided in a prior cover page.
The information required on 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 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).
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CUSIP No. 59163F 10 5 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
EVEREST SPECIAL SITUATIONS FUND L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,705,710
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,705,710
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,705,710
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 59163F 10 5 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MAOZ EVEREST FUND MANAGEMENT LTD.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
ISRAEL
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,705,710
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,705,710
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,705,710
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 59163F 10 5 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ELCHANAN MAOZ
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
ISRAEL
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,705,710
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,705,710
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,705,710
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 59163F 10 5 13D Page 5 of 7 Pages
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The following constitutes Amendment No. 2 ("Amendment No. 2") to the
Schedule 13D filed by the undersigned. This Amendment No. 2 amends the Schedule
13D as specifically set forth.
Item 3 is hereby amended and restated in its entirety to read as
follows:
The aggregate purchase price, including commissions, of the 1,705,710
shares of the Issuer's Common Stock ("Shares") purchased by Everest and reported
in this Amendment No. 1 is $902,573 (including all brokers' commissions). The
Shares reported herein were purchased with Everest's working capital.
The third paragraph of Item 4 is hereby amended and restated in its
entirety to read as follows:
On April 24, 2006, Elchanan Maoz was elected as a director of the
Issuer. Other than his capacity as a director of the Issuer and except as set
forth herein or such as would occur upon completion of the actions discussed
above, the Reporting Persons currently have no plans, proposals or intentions
which would result in any actions described in clauses (a) through (j) in Item 4
of the General Instructions of Schedule 13D.
Item 5(a) is hereby amended and restated to read as follows:
(a) At the close of business on April 24, 2006, the Reporting Persons
may be deemed to beneficially own 1,705,710 Shares which constitutes
approximately 6.8% of the 24,933,490 outstanding shares of the Common Stock as
of April 25, 2006 (based upon the number of shares that were reported to be
outstanding in the Issuer's Definitive Proxy Statement on Schedule 14A filed
with Securities and Exchange Commission on May 1, 2006). MEFM, by virtue of its
status as the general partner of Everest, may be deemed to beneficially own the
Shares held by Everest. Elchanan Maoz by virtue of his status as a controlling
stockholder of MEFM, the general partner of Everest, may be deemed to
beneficially own the Shares held by Everest. MEFM and Elchanan Maoz disclaim
beneficial ownership of such Shares except to the extent of their pecuniary
interest therein.
Item 5(c) is hereby amended to add the following:
(c) TRANSACTIONS IN THE SHARES SIXTY DAYS PRIOR TO THE
REPORTING DATE. ALL TRANSACTIONS WERE DONE IN THE OPEN MARKET.
Everest Situations Fund L.P. Transactions
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No. of Shares Purchased
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Date Purchase / (Sold) Price ($) / (Sold)
---------------------- --------- --------
(2/23/06) 0.7638 (91,587)
(3/2/06) 0.6037 (20,000)
3/22/06 0.5226 45,652
3/24/06 0.5400 7,000
3/24/06 0.5400 5,750
3/24/06 0.5387 4,000
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CUSIP No. 59163F 10 5 13D Page 5 of 7 Pages
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3/24/06 0.5389 8,000
3/24/06 0.5398 3,000
3/27/06 0.5208 26,981
3/28/06 0.5295 50,000
3/28/06 0.5300 13,686
3/29/06 0.5442 50,000
3/29/06 0.5526 50,000
3/29/06 0.5500 14,637
3/30/06 0.5600 31,051
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CUSIP No. 59163F 10 5 13D Page 7 of 7 Pages
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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: May 16, 2006 EVEREST SPECIAL SITUATIONS FUND L.P.
By: Maoz Everest Fund Management Ltd.,
its General Partner
By: /s/ Elchanan Maoz
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Name: Elchanan Maoz
Title: Chairman and Chief Executive Officer
MAOZ EVEREST FUND MANAGEMENT LTD.
By: /s/ Elchanan Maoz
------------------------------------
Name: Elchanan Maoz
Title: Chairman and Chief Executive Officer
/s/ Elchanan Maoz
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ELCHANAN MAOZ