SEC Form SC 13G/A filed by SRAX Inc. (Amendment)

2/14/24 2:56:29 PM ET

$SRAX

Advertising

Consumer Discretionary

Get the next $SRAX alert in real time by email

SC 13G/A 1 sc13ga313108srax_02142024.htm AMENDMENT NO. 3 TO THE SCHEDULE 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

(Amendment No. 3)¹

SRAX, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.001 per share

(Title of Class of Securities)

78472M106

(CUSIP Number)

December 31, 2023

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐

Rule 13d-1(b)

☒

Rule 13d-1(c)

☐

Rule 13d-1(d)

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 (“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. 78472M106


	1	NAME OF REPORTING PERSON

			Percy Rockdale LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☐

	3	SEC USE ONLY


	4	CITIZENSHIP OR PLACE OF ORGANIZATION

			Michigan
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					0
PERSON WITH			7	SOLE DISPOSITIVE POWER

					0
			8	SHARED DISPOSITIVE POWER

					0
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

			0
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐


	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

			0%
	12	TYPE OF REPORTING PERSON

			OO

CUSIP No. 78472M106


	1	NAME OF REPORTING PERSON

			Continental General Insurance Company
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☐

	3	SEC USE ONLY


	4	CITIZENSHIP OR PLACE OF ORGANIZATION

			Texas
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					2,274,816
PERSON WITH			7	SOLE DISPOSITIVE POWER

					0
			8	SHARED DISPOSITIVE POWER

					2,274,816
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

			2,274,816
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐


	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

			7.7%
	12	TYPE OF REPORTING PERSON

			CO

CUSIP No. 78472M106


	1	NAME OF REPORTING PERSON

			Continental Insurance Group, Ltd.
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☐

	3	SEC USE ONLY


	4	CITIZENSHIP OR PLACE OF ORGANIZATION

			Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					2,274,816
PERSON WITH			7	SOLE DISPOSITIVE POWER

					0
			8	SHARED DISPOSITIVE POWER

					2,274,816
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

			2,274,816
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐


	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

			7.7%
	12	TYPE OF REPORTING PERSON

			CO

CUSIP No. 78472M106


	1	NAME OF REPORTING PERSON

			Continental General Holdings LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☐

	3	SEC USE ONLY


	4	CITIZENSHIP OR PLACE OF ORGANIZATION

			Michigan
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					2,274,816
PERSON WITH			7	SOLE DISPOSITIVE POWER

					0
			8	SHARED DISPOSITIVE POWER

					2,274,816
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

			2,274,816
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐


	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

			7.7%
	12	TYPE OF REPORTING PERSON

			OO

CUSIP No. 78472M106


	1	NAME OF REPORTING PERSON

			Michael Gorzynski
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☐

	3	SEC USE ONLY


	4	CITIZENSHIP OR PLACE OF ORGANIZATION

			United States
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					2,274,816
PERSON WITH			7	SOLE DISPOSITIVE POWER

					0
			8	SHARED DISPOSITIVE POWER

					2,274,816
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

			2,274,816
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐


	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

			7.7%
	12	TYPE OF REPORTING PERSON

			IN

CUSIP No. 78472M106

Item 1(a).

Name of Issuer:

SRAX, Inc., a Delaware corporation (the “Issuer”).

Item 1(b).

Address of Issuer’s Principal Executive Offices:

1014 S. Westlake Blvd.

Suite 14-29

Westlake Village, CA 91361

Item 2(a).

Name of Person Filing

The names of the persons filing this statement on Schedule 13G (collectively, the “Reporting Persons”) are:

Percy Rockdale LLC (“Percy Rockdale”),

Continental General Insurance Company (“CGIC”),

Continental Insurance Group, Ltd. (“CIG”),

Continental General Holdings LLC (“CGH”), and

Michael Gorzynski (“Mr. Gorzynski”).

Item 2(b).

Address of Principal Business Office or, if None, Residence

The address of the principal office for Percy Rockdale and Mr. Gorzynski is 595 Madison Avenue, 30^th Floor, New York, NY 10022. The principal business address for each of CGIC, CIG and CGH is 11001 Lakeline Blvd., Ste. 120, Austin, TX 78717.

Item 2(c).

Citizenship

Each of Percy Rockdale and CGH is a Michigan limited liability company. CIG is a Delaware corporation. CGIC is a Texas domiciled life and health insurance company. Mr. Gorzynski is a citizen of the United States and Poland.

Item 2(d).

Title of Class of Securities:

Class A Common Stock, par value $0.001 per share (the “Common Stock”).

Item 2(e).

CUSIP Number:

78472M106

CUSIP No. 78472M106

Item 3.

If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

	/x/	Not applicable.

(a)	/ /	Broker or dealer registered under Section 15 of the Exchange Act.

(b)	/ /	Bank as defined in Section 3(a)(6) of the Exchange Act.

(c)	/ /	Insurance company as defined in Section 3(a)(19) of the Exchange Act.

(d)	/ /	Investment company registered under Section 8 of the Investment Company Act.

(e)	/ /	An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).

(f)	/ /	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).

(g)	/ /	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).

(h)	/ /	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.

(i)	/ /	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act.

(j)	/ /	A non-U.S. institution, in accordance with Rule 13d-1(b)(1)(ii)(J).

(k)	/ /	Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ____

Item 4.

Ownership

(a)

Amount beneficially owned:

As of December 31, 2023:

(i)

Percy Rockdale beneficially owned 0 shares of Common Stock.

(ii)

CGIC beneficially owned 2,274,816 shares of Common Stock.

(iii)

As the sole owner of CGIC, CIG may be deemed to beneficially own the 2,274,816 shares of Common Stock held by CGIC.

(iv)

As the sole owner of CIG, CGH may be deemed to beneficially own the 2,274,816 shares of Common Stock held by CGIC.

(v)

As Manager of CGH, Mr. Gorzynski may be deemed to beneficially own the 2,274,816 shares of Common Stock beneficially owned by CGIC.

CUSIP No. 78472M106

(b)

Percent of class:

The aggregate percentage of Common Stock reported owned by each person named herein is based upon 29,438,762 shares of Common Stock outstanding as of October 20, 2023, which is the total number of shares of Common Stock outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 31, 2023.

As of December 31, 2023:

(i)

Percy Rockdale may be deemed to own 0% of the outstanding shares of Common Stock;

(ii)

CGIC may be deemed to own approximately 7.7% of the outstanding shares of Common Stock;

(iii)

CIG may be deemed to beneficially own approximately 7.7% of the outstanding shares of Common Stock;

(iv)

CGH may be deemed to beneficially own approximately 7.7% of the outstanding shares of Common Stock; and

(v)

Mr. Gorzynski may be deemed to beneficially own approximately 7.7% of the outstanding shares of Common Stock;

(c)

Number of shares as to which such person has:

(i)

Sole power to vote or to direct the vote

See Cover Pages Items 5-9.

(ii)

Shared power to vote or to direct the vote

See Cover Pages Items 5-9.

(iii)

Sole power to dispose or to direct the disposition of

See Cover Pages Items 5-9.

(iv)

Shared power to dispose or to direct the disposition of

See Cover Pages Items 5-9.

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 Report Persons have ceased to be the beneficial owners of more than 5 percent of the class of securities, check the following box [ ].

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not Applicable.

CUSIP No. 78472M106

Item 7.

Identification and Classification of the Subsidiary That Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable.

Item 8.

Identification and Classification of Members of the Group.

See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on October 8, 2021.

Item 9.

Notice of Dissolution of Group.

Not Applicable.

Item 10.

Certifications.

By signing below each of the undersigned certifies that, to the best of its 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. 78472M106

SIGNATURE

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: February 14, 2024

Percy Rockdale LLC

By:	/s/ Michael Gorzynski
	Name:	Michael Gorzynski
	Title:	Sole Manager

Continental General Insurance Company

By:	/s/ Michael Gorzynski
	Name:	Michael Gorzynski
	Title:	Executive Chairman

Continental Insurance Group, Ltd.

By:	/s/ Michael Gorzynski
	Name:	Michael Gorzynski
	Title:	Chairman & President

Continental General Holdings LLC

By:	/s/ Michael Gorzynski
	Name:	Michael Gorzynski
	Title:	Manager


/s/ Michael Gorzynski
Michael Gorzynski

Get the next $SRAX alert in real time by email

SEC Form SC 13G/A filed by SRAX Inc. (Amendment)

Chat with this insight

Recent Analyst Ratings for $SRAX

$SRAX Press Releases

Fastest customizable press release news feed in the world

SRAX Signs Agreement to Merge with DNA Holdings

SRAX SELECTS XDEFI AS WEB3 WALLET PARTNER, ENABLING SECURE ACCESS TO DIGITAL ASSETS FOR ACTIVE EQUITY INVESTORS

SRAX SHAREHOLDER LETTER

$SRAX FDA approvals

Live FDA approvals issued by the Food and Drug Administration and FDA breaking news

June 7, 2024 - FDA Roundup: June 7, 2024

March 22, 2024 - FDA Roundup: March 22, 2024

November 9, 2023 - FDA Approves First Treatment for Patients with Rare Inherited Blood Clotting Disorder

$SRAX Financials

Live finance-specific insights

SRAX Reassures Investors of Business Health Amid Delisting Notice

Freedom Holding Acquires LD Micro From SRAX, Inc.

SRAX Acquires DNA Holdings Assets

$SRAX Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Miglino Christopher bought $750 worth of SRAX Common Stock (15,000 units at $0.05), increasing direct ownership by 2% to 902,575 units (SEC Form 4)

SEC Form 4 filed by Urban Alan Louis

SEC Form 3 filed by new insider Urban Alan Louis

$SRAX Large Ownership Changes

This live feed shows all institutional transactions in real time.