UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
(Name of Issuer)
Shengtai Pharameceutical, Inc.
f/k/a West Coast Car Company
(Title of Class of Securities)
Common
(CUSIP Number)
952165108
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Ashley Austin
Pope Asset Management, LLC
5100 Poplar Avenue Suite 805
Memphis TN 38137
901-763-4001
(Date of Event which Requires Filing of this Statement) 12/31/2007
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
Section 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 Section 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).
CUSIP No 952165108
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Pope Asset Management, LLC 62-1871308
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 if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Tennessee USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 3975000
8.
Shared Voting Power 3975000
9.
Sole Dispositive Power 3975000
10.
Shared Dispositive Power 3975000
11.
Aggregate Amount Beneficially Owned by Each Reporting Person 3975000
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 20.96
14.
Type of Reporting Person (See Instructions)
IA
|
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Pope Investments LLC 260281944
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 if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Delaware, USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 3975000
8.
Shared Voting Power 3975000
9.
Sole Dispositive Power 3975000
10.
Shared Dispositive Power 3975000
11.
Aggregate Amount Beneficially Owned by Each Reporting Person 3975000
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 20.96
14.
Type of Reporting Person (See Instructions)
00
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
William P. Wells 46242492
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 if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Tennessee USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 3975000
8.
Shared Voting Power 3975000
9.
Sole Dispositive Power 3975000
10.
Shared Dispositive Power 3975000
11.
Aggregate Amount Beneficially Owned by Each Reporting Person 3975000
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 20.96
14.
Type of Reporting Person (See Instructions)
IN
Item
1.
Security and Issuer
Common shares of Shengtai Pharmaceuticals Inc.,
f/k/a West Coast Car Company whose principal address is
45 Old Millstone Drive, Unit 6, East Windsor, New Jersey 08520.
Item
2.
Identity and Background
(a)
This Amendment No. 1 is filed by and on behalf of:
(i) Pope Asset Management, LLC, a Tennessee Limited liability company,
(ii) Pope Investments, LLC, a Delaware limited liability company
("Pope Investments") and (iii) William P. Wells ("Mr. Wells").
This statement amends the Schedule 13D initially
filed on behalf of Pope Asset on June 11, 2007. Pope Asset is a registered
investment adviser and serves as an investment adviser and/or manager for
Pope Investments and has sole voting control and investment
and disposition power and discretion with respect to all securities held
by Pope Investments. The securities of the issuer reported
in this statement were purchased by Pope Asset, in its capacity as
sole manager of Pope Investments,
for the account of and in the name of Pope Investments.
Pope Asset may be deemed to beneficially own shares owned and/or
held by and for the account of and/or benefit of various persons
including Pope Investments. Mr. Wells is the sole manager of Pope Asset.
Mr. Wells may be deemed to own shares owned and/or held by and/or
for the account of and/or benefit of Pope Investments.
Pope Asset, Pope Investments and Mr. Wells each declares that
neither the filing of this statement
nor anything herein shall be construed as an admission that such
reporting person is, for the purposes of Section 13(d) or 13(g)
of the Act or any other purpose, the beneficial owner of any securities
covered by this statement. Each of Pope Asset,
Pope Investments and Mr. Wells may be deemed to be a member
of a group with respect to the issuer or securities of the
issuer for the purposes of Section 13(d) or 13(g)
of the Act or any other purpose,
the beneficial owner of any securities covered
by this statement. Each of Pope Asset, Pope Investments
and Mr. Wells may be deemed to be a member of a group with respect
to the issuer or securities of the issuer for the purposes of
Section 13(d) or 13(g) of the Act.
Each of Pope Asset, Pope Investments and Mr. Wells declares that
neither the filing of this statement nor anything herein shall be
construed as an admission that such person is, for the purposes of
Section 13(d) or 13(g) of the Act or any other purpose, (i) acting
(or has agreed or is agreeing to act together with any other person)
as a partnership, limited partnership, syndicate, or other group for
the purpose of acquiring, holding, or disposing of securities of the
issuer or otherwise with respect to the issuer or any securities of
the issuer, or (ii) a member of any group with respect to the issuer
or any securities of the issuer. Pope Investments, Pope Asset and
Mr. Wells have entered into a Joint Filing Agreement, a copy of
which is filed with this statement as Exhibit 99.1,
pursuant to which they have agreed to file this Schedule
13D jointly in accordance with the provisions
of Rule 13d-1(k) of the Act.
(b)
5100 Poplar Avenue, Suite 805, Memphis, TN 38137
(c)
See Item 2a above.
(d)
not applicable
(e)
not applicable
(f)
Citizenship.
(i) Pope Asset Management - Tennessee
(ii) Pope Investments - Delaware
(iii) Mr. Wells - Tennessee
Item
3.
Source and Amount of Funds or Other Consideration
The source of funds invested in West Coast Car Company
as reported in the 13D filed by Pope Asset on June 11, 2007,
were funds from Pope Investments, LLC and the Halter
Pope USX China Fund. The amount of funds invested in this transaction
or series of transactions totaled $5,300,000 from Pope Investments and
$400,000 from the Halter/Pope USX China Fund.
No additional purchases have been made.
As of August 1, 2007, Halter/Pope USX China Fund
is no longer held by or affiliated
with Pope Asset Management, Pope Investments and/or Mr. Wells.
No part of the purchase price paid by Pope Investments wtih respect to the
transaction noted above is represented by funds or other consideration
borrowed or otherwise obtained for the purpose of acquiring, holding,
trading or voting the securities.
Item
4.
Purpose of Transaction
The purpose of the acquisition of securities of the issuer
was and remains to be for investment purposes only.
Describe any plans or proposals which the
reporting persons may have which relate to or would result in:
(a) The Reporting Persons do not have any further plans
to acquire additional securities of the Issuer.
(b) Not Applicable.
(c) Not Applicable
(d) Not Applicable.
(e) Not Applicable.
(f) Not Applicable.
(g) Not Applicable.
(h) Not Applicable.
(i) Not Applicable.
(j) Not Applicable.
Item
5.
Interest in Securities of the Issuer
(a) As of the date hereof, Pope Investments
beneficially owns (i) 2,650,000 shares of the issuer's
common stock and (ii) warrants which may be exercised
for a total of 1,325,000 shares of the issuers common
stock. Therefore, Pope Investments may be deemed
to beneficially own 3,975,000 shares of the issuer's
common stock which represents approximately 20.96%
of the issuer's outstanding common stock (assuming the full
exercise of the warrants). The calculation of the foregoing
percentage is on the basis of 18,962,500 shares of the issuer's
common stock outstanding as reflected in the issuer's
Form 10-Q filed on November 14, 2007.
This statement amends the previously filed 13D by reducing
the number of shares held by Pope Asset Management.
In the June 11, 2007 13D filed by Pope Asset Management,
Pope Asset Management disclosed it held
4,275,000 of the issuer's common stock. 300,000 of the shares
reflected in said filing were shares held by Halter/Pope USX China Fund.
As of August 1, 2007, the Halter/Pope USX China Fund ceased
to be managed by or affiliated with Pope Asset Management,
Pope Investments and/or Mr. Wells.
(b) Pope Investments LLC may be deemed to hold shared power
to vote and to dispose of the 3,975,000 shares of common stock
described in (a) above. Pope Asset and Mr. Wells may be deemed to hold
shared power to vote and dispose of the 3,975,000
shares of the issuer's common stock described in (a) above. The
foregoing should not be construed in and of itself as an admission by Pope
Asset and Mr. Wells as to the beneficial ownership of the
securities of the issuer held by Pope Investments.
(c) Not Applicable.
(d) No person other than the Reporting Persons is known to have the right
to receive, or the power to direct the receipt of, dividends from, or
proceeds from the sale of, the shares of issuer's
common stock reported in this statement.
(e) Not Applicable.
Pope Asset and Mr Wells do not directly own any shares
of the issuer's Common Stock. Mr. Wells is the Manager
of Pope ASset. Pope Asset may be deemed to beneficially
own shares owned and/or held by and for the account of and/or benefit
of various persons, including Pope Investments.
Mr. Wells may be deemed to own shares owned and/or held by
and/or for the account of and/or benefit
of Pope Investments. Each of the reporting persons
declares that neither the filing of this statement
nor anything herein shall be construed as an admission
that such reporting person is, for the purposes of Section
13(d) or 13(g) of the Act or any other purpose, the beneficial
owner of any securities covered by this statement.
Item
6.
Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
None.
Item
7.
Material to Be Filed as Exhibits
Exhibit "A": Joint Filing
Agreement dated as of February 13, 2008, by and among Pope Investments,
Pope Asset and Mr. Wells.
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.
02/13/08 Date
Pope Investments, LLC
By: Pope Asset Management, LLC, Manager
Signature
William P. Wells/President Name/Title
Exhibit 99.1
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned
that the Schedule 13D filed with the Securities and Exchange
Commission on or about the date hereof with respect to the
beneficial ownership by the undersigned of the Common Stock,
$.001 par value, of Shengtai Pharmaceuticals,
is being filed, and all amendments thereto will be filed, on
behalf of each of the persons and entities
named below in a accordance with Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended.
This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
Dated: Feburary 13, 2008.
Pope Investments , LLC
By: Pope Asset Management, LLC, Manager
Signature
William P. Wells/President Name/Title
By: Pope Asset Management, LLC, Manager
Signature
William P. Wells/President Name/Title
Attention: Intentional misstatements or omissions of fact
constitute Federal criminal violations (See 18 U.S.C. 1001)
Shengtai Pharmaceutical (GM) (USOTC:SGTI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Shengtai Pharmaceutical (GM) (USOTC:SGTI)
Historical Stock Chart
From Jul 2023 to Jul 2024
