Statement of Ownership (sc 13g)
November 13 2017 - 6:07AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
SCHEDULE
13G
Under
the Securities Exchange Act of 1934
FREESEAS
INC.
(Name
of issuer)
Common
Stock, $0.001 value per share
(Title
of class of securities)
Y26496227
(CUSIP
number)
November
9, 2017
(Date
of Event Which Requires Filing of this Statement)
Check
the appropriate box to designate the rule pursuant to which this Schedule is filed:
*
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 in 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).
Persons
who respond to the collection of information contained in this form are not required to respond unless the form displays a currently
valid OMB control number.
SEC
1745 (1-06)
Page
1 of 5 pages
CUSIP
No. Y26496227
|
13G
|
Page
2 of 5 Pages
|
|
1.
|
Name
of Reporting Person
|
|
|
I.R.S.
Identification Nos. of above persons (entities only).
|
Jabro
Funding Corp.
EIN:
77-0650421
|
2.
|
Check
the Appropriate Box if a Member of a Group (See Instructions)
|
(a) ☐
(b)
☐
|
4.
|
Citizenship
or Place of Organization
|
New
York
Number of
|
5.
|
Sole Voting Power
|
Shares
|
|
113,574,098*
|
Beneficially
|
|
|
Owned by
|
6.
|
Shared Voting Power
|
Each
|
|
|
Reporting
|
|
|
Person
|
7.
|
Sole Dispositive Power
|
With:
|
|
113,574,098*
|
|
|
|
|
8.
|
Shared Dispositive Power
|
|
|
|
*Consists
of Common Stock that the reporting person has the right to acquire by way of conversion of a convertible note of the Issuer in
favor of the Reporting Person.
|
9.
|
Aggregate
Amount Beneficially Owned by Each Reporting Person
|
113,574,098*
*Consists
of Common Stock that the reporting person has the right to acquire by way of conversion of a convertible note of the Issuer in
favor of the Reporting Person.
|
10.
|
Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
|
|
11.
|
Percent
of Class Represented by Amount in Row (9)
|
9.99%
(based on the total of
1,136,877,859
outstanding shares of Common Stock)
|
12.
|
Type
of Reporting Person (See Instructions)
|
CO
CUSIP
No. Y26496227
|
13G
|
Page
3 of 5 Pages
|
Item 1
|
(a)
|
Name of Issuer:
|
|
|
FREESEAS INC., a Republic of the Marshall Islands
corporation
|
|
|
|
|
(b)
|
Address
Of Issuer’s Principal Executive Offices:
|
|
|
6
Loukianou Street, 10675 Athens, Greece
|
Item 2
|
(a)
|
Name of Person Filing:
|
|
|
Jabro Funding Corp.
|
|
|
|
|
(b)
|
Address of Principal Business Office, or,
if none, Residence:
|
|
|
1 Cedar Lane, Glen Cove, New York 11542
|
|
|
|
|
(c)
|
Citizenship:
|
|
|
New York
|
|
|
|
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(d)
|
Title of Class of Securities:
|
|
|
Common
Stock; $0.001 value per share
|
|
(e)
|
Cusip Number:
|
|
|
Y26496227
|
Item 3
|
If this statement is filed pursuant
to §240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
|
|
|
|
|
(a)
|
☐ Broker or dealer registered under section
15 of the Act (15 U.S.C. 78o).
|
|
(b)
|
☐ Bank as defined in section 3(a)(6) of
the Act (15 U.S.C. 78c).
|
|
(c)
|
☐ Insurance company as defined in
section 3(a)(19) of the Act (15 U.S.C. 78c).
|
|
(d)
|
☐ Investment company registered under
section 8 of the Investment Company Act (15 U.S.C. 80a-8).
|
|
(e)
|
☐ An investment adviser in accordance
with §240.13d-1(b)(1)(ii)(E).
|
|
(f)
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☐ An employee benefit plan or endowment
fund in accordance with §240.13d-1(b)(ii)(F).
|
|
(g)
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☐ A parent holding company or control
person in accordance with §240.13d-1(b)(1)(ii)(G).
|
|
(h)
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☐ A savings association as defined in
Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
|
|
(i)
|
☐ A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment
Company Act of 1940 (15 U.S.C. 80a-3);
|
|
(j)
|
☐ Group in accordance with §240.13d-1(b)(ii)(J).
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CUSIP
No. Y26496227
|
13G
|
Page
4 of 5 Pages
|
|
(a) Amount beneficially owned 113,574,098*
|
|
(b) Percent of class: 9.99%
|
|
(c) Number of shares as to which the person
has:
|
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(i) Sole power to vote or to direct the vote
|
|
(ii) Shared power to vote or to direct the vote
|
|
(iii) Sole power to dispose or to direct the
disposition of
|
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(iv) Shared power to dispose or to direct the
disposition of
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*Consists
of Common Stock that the reporting person has the right to acquire by way of conversion of a convertible note of the Issuer in
favor of the Reporting Person.
Item 5
|
Ownership of Five Percent or Less of a Class
|
If
this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check the following ☐ .
Item 6
|
Ownership of More Than Five Percent on Behalf
Of Another Person
|
Item 7
|
Identification and Classification of the
Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
|
Item 8
|
Identification and Classification of Members
of The Group
|
Item 9
|
Notice of Dissolution of Group
|
(a)
The following certification shall be included if the statement is filed pursuant to §240.13d-1(b):
By
signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held
in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect.
(b)
The following certification shall be included if the statement is filed pursuant to §240.13d-1(c):
By
signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
CUSIP No. Y26496227
|
13G
|
Page
5 of 5 Pages
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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.
|
November
9, 2017
|
|
Date
|
|
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/s/Lawrence
Rothberg
|
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Signature
|
|
|
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Lawrence
Rothberg, President
|
|
Name/Title
|
The
original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If
the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner
of the filing person, evidence of the representative’s authority to sign on behalf of such person shall be filed with the
statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated
by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.
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 for whom copies are to be sent.
Attention:
Intentional misstatements or omissions of fact constitute Federal criminal
violations (See 18 U.S.C. 1001)
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