UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

 

 

Multimedia Platforms, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

62547U103

(CUSIP Number)

Todd M. Enright

White Winston Select Asset Funds, LLC

265 Franklin St., Suite 1702

Boston, MA 02110

801-938-7540

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 29, 2016

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-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 §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

* 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 (“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).

 

 

 


13D

 

CUSIP No. 62547U103   Page 2 of 9 Pages

 

  1.   

NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

White Winston Select Asset Funds, LLC

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)   ¨         (b)   ¨

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS (see instructions)

 

    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

 

    Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

 

     7.    

SOLE VOTING POWER

 

    0

     8.   

SHARED VOTING POWER

 

    0

     9.   

SOLE DISPOSITIVE POWER

 

    0

   10.   

SHARED DISPOSITIVE POWER

 

    7,666,666

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    7,666,666 (1)

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)   ¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    10.4%

14.  

TYPE OF REPORTING PERSON (see instructions)

 

    OO

 

(1) Includes (i) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.01 per share (ii) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.03 per share and (iii) a warrant currently exercisable for up to 2,666,666 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.30 per share.


13D

 

CUSIP No. 62547U103   Page 3 of 9 Pages

 

  1.   

NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Todd M. Enright

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)   ¨         (b)   ¨

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS (see instructions)

 

    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

 

    New Hampshire

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

 

     7.    

SOLE VOTING POWER

 

    0

     8.   

SHARED VOTING POWER

 

    0

     9.   

SOLE DISPOSITIVE POWER

 

    0

   10.   

SHARED DISPOSITIVE POWER

 

    7,666,666

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    7,666,666 (1)

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)   ¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    10.4%

14.  

TYPE OF REPORTING PERSON (see instructions)

 

    IN

 

(1) Includes (i) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.01 per share (ii) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.03 per share and (iii) a warrant currently exercisable for up to 2,666,666 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.30 per share.


13D

 

CUSIP No. 62547U103   Page 4 of 9 Pages

 

  1.   

NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Mark Blundell

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)   ¨         (b)   ¨

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS (see instructions)

 

    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

 

    Utah

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

 

     7.    

SOLE VOTING POWER

 

    0

     8.   

SHARED VOTING POWER

 

    0

     9.   

SOLE DISPOSITIVE POWER

 

    0

   10.   

SHARED DISPOSITIVE POWER

 

    7,666,666

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    7,666,666 (1)

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)   ¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    10.4%

14.  

TYPE OF REPORTING PERSON (see instructions)

 

    IN

 

(1) Includes (i) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.01 per share (ii) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.03 per share and (iii) a warrant currently exercisable for up to 2,666,666 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.30 per share.


13D

 

CUSIP No. 62547U103   Page 5 of 9 Pages

 

  1.   

NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Donald Feagan

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)   ¨         (b)   ¨

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS (see instructions)

 

    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

 

    Utah

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

 

     7.    

SOLE VOTING POWER

 

    0

     8.   

SHARED VOTING POWER

 

    0

     9.   

SOLE DISPOSITIVE POWER

 

    0

   10.   

SHARED DISPOSITIVE POWER

 

    7,666,666

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    7,666,666 (1)

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)   ¨

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    10.4%

14.  

TYPE OF REPORTING PERSON (see instructions)

 

    IN

 

(1) Includes (i) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.01 per share (ii) a warrant currently exercisable for up to 2,500,000 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.03 per share and (iii) a warrant currently exercisable for up to 2,666,666 shares of the Issuer’s Common Stock, par value $0.001 per share, at an exercise price of $0.30 per share.


13D

 

CUSIP No. 62547U103       Page 6 of 9 Pages

 

Item 1. Security and Issuer.

This statement relates to three warrants (the “Warrants”) to purchase shares of the Common Stock (the “Shares”) issued by Multimedia Platforms, Inc. (the “Issuer”). One Warrant is currently exercisable for up to 2,500,000 Shares at a price of $0.01 per share (the “Fixed Warrant”), another Warrant is currently exercisable for up to 2,500,000 Shares at a price of $0.03 per share (the “Pro Rata Warrant”), and the third Warrant is currently exercisable for up to 2,666,666 Shares at a price of $0.30 per Share (the “Adjustable Warrant”). The address of the principal executive offices of the Issuer is 2000 E. Oakland Blvd., Suite 106 & 107, Fort Lauderdale, Florida 33306.

 

Item 2. Identity and Background.

The persons filing this statement (together, the “Reporting Persons”) are White Winston Select Asset Funds, LLC, a limited liability company organized under the laws of the state of Delaware (the “Fund”), and Todd M. Enright, Mark Blundell and Donald Feagan, the managers of the Fund (the “Partners”). The address of the principal business and of the principal office of the Reporting Persons is 265 Franklin Street, Suite 1702, Boston, MA 02110.

The Reporting Persons are primarily engaged in the business of investing in securities. The Partners are members and the sole managers of the Fund.

None of the Reporting Persons, nor any manager or executive officer of the Reporting Persons has, during the past five years, (a) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, Federal or State securities laws or a finding of any violation with respect to such laws.

 

Item 3. Source or Amount of Funds or Other Consideration.

The Warrants were acquired from the Issuer as partial consideration under the Master Credit Facility Agreement, dated as of July 29, 2016, among the Fund, the Issuer and certain subsidiaries of the Issuer (the “Loan Agreement”), pursuant to which the Fund extended a line of credit to the Issuer in the face amount of up to $1,750,000.00. The aggregate exercise price to purchase the Shares underlying the Warrants, if exercised by the Fund on the date of this statement, would be approximately $900,000.00. The funds to purchase the Shares will come from the Fund’s working capital.

 

Item 4. Purpose of Transaction.

The Fund acquired the Warrants in the belief that the Shares were undervalued. The Reporting Persons have been in discussions with members of the Issuer’s management and Board of Directors since May 2016 regarding a possible investment in the Issuer and ways to enhance shareholder value. The Fund currently has no right to representation on the Issuer’s Board of Directors.

The Reporting Persons may, from time to time and at any time: (i) acquire additional Shares and/or other equity, debt, notes, instruments or other securities, if any, of the Issuer or its affiliates in the open market or otherwise; (ii) dispose of any or all of their Warrants or Shares acquired upon exercise of the Warrants in the open market or otherwise; or (iii) engage in any hedging or similar transaction with respect to the Warrants or Shares acquired upon exercise of the Warrants.

 

Item 5. Interest in Securities of the Issuer.

The Reporting Persons may be deemed to beneficially own, in the aggregate 2,666,666 Shares underlying the Warrants (the “Purchased Shares”), representing approximately 10.4% of the Issuer’s outstanding capital stock based upon the 65,888,923 shares of the Issuer’s Common Stock stated to be outstanding as of May 16, 2016, in the Issuer’s Form 10-Q filing with the Securities and Exchange Commission on May 17, 2016.

Each of the Warrants is exercisable until July 29, 2021 (the “Expiration Date”). The Fixed Warrant and the Pro Rata Warrant each contain a provision for cashless exercise. All three Warrants grant the Fund the right to require the Issuer to register the Purchased Shares with the Securities and Exchange Commission if the Issuer is registering other shares of Common Stock or if it is eligible to register shares of Common Stock on Form S-3, in each case subject to certain conditions and exceptions. The number of Shares for which the Pro Rata Warrant is exercisable is pro rated based on the aggregate amount advanced pursuant to the Loan Agreement. The number of Shares for which the Adjustable Warrant may be exercised is equal to $800,000.00 divided by the purchase price per share then in effect. The purchase price for the Adjustable Warrant is equal to the lesser of (a) $0.30 per share or (b) eighty-five percent (85%) of the lowest per-share price at which shares of the Issuer’s capital stock are issued, or are issuable upon exercise or conversion of any derivative securities issued, in any financing after July 29, 2016, in which gross proceeds to the Issuer are not less than $1,000,000.00.


13D

 

CUSIP No. 62547U103       Page 7 of 9 Pages

 

The Partners, by virtue of their relationship to the Fund, may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) the Purchased Shares. The Partners disclaim beneficial ownership of the Purchased Shares for all other purposes.

The Fund has sole voting power and sole dispositive power with regard to the Purchased Shares (including Shares underlying the Warrants). The Partners have shared voting power and shared dispositive power with regard to the Purchased Shares.

Other than the purchase of the Warrants, no Reporting Person has undertaken any transaction with respect to Shares during the past sixty (60) days.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Except as otherwise described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any person with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

 

Item 7. Material to Be Filed as Exhibits.

Exhibit A - Joint Filing Agreement


13D

 

CUSIP No. 62547U103       Page 8 of 9 Pages

 

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.

 

WHITE WINSTON SELECT ASSET FUNDS, LLC
 

By: /s/    Todd M. Enright        

Todd M. Enright

  Partner
 

August 8, 2016

Todd M. Enright
 

/s/    Todd M. Enright        

 

August 8, 2016

Mark Blundell
 

/s/    Mark Blundell        

 

August 8, 2016

Donald Feagan
 

/s/    Donald Feagan        

 

August 8, 2016