SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b), (c) AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
SPACEDEV, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
846241107
(CUSIP Number)
Not Applicable
(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)
|X| Rule 13d-1 (c)
|_| Rule 13d-1 (d)
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).
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1 NAME OF REPORTING PERSON: Laurus Master Fund, Ltd.
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0337673
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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NUMBER OF
SHARES 5 SOLE VOTING POWER: 2,032,520 shares of Common Stock
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING ---------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER: 2,032,520 shares of Common Stock
----------------------
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8 SHARES DISPOSITIVE POWER
None
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,032,520 shares of Common Stock
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.11%
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12 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSON: Laurus Capital Management, LLC
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-4150669
-------------------------------------------------
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER: 2,032,520 shares of Common Stock
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING ---------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER: 2,032,520 shares of Common Stock
----------------------
--------------------------------------------------------------------------------
8 SHARES DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,032,520 shares of Common Stock
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.11%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
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1 NAME OF REPORTING PERSON: David Grin
------------------------
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
------------------------------------------------------ (b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Israel
--------------------------------------------------------------------------------
NUMBER OF
SHARES 5 SOLE VOTING POWER: 2,032,520 shares of Common Stock
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING ---------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER: 2,032,520 shares of Common Stock
----------------------
--------------------------------------------------------------------------------
8 SHARES DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,032,520 shares of Common Stock
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.11%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
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1 NAME OF REPORTING PERSON: Eugene Grin
------------------------
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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
SHARES 5 SOLE VOTING POWER: 2,032,520 shares of Common Stock
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH None
REPORTING ---------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER: 2,032,520 shares of Common Stock
----------------------
--------------------------------------------------------------------------------
8 SHARES DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,032,520 shares of Common Stock
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.11%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
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Item 1(a). Name of Issuer: SpaceDev, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
13855 Stowe Dr.
Poway, CA 92064
Item 2(a). Name of Person Filing: Laurus Master Fund, Ltd.
This Schedule 13G is also filed on behalf of Laurus Capital
Management, LLC, a Delaware limited liability company, Eugene
Grin and David Grin. Laurus Capital Management, LLC manages
Laurus Master Fund, Ltd. Eugene Grin and David Grin are the
principals of Laurus Capital Management, LLC. Information
related to each of Laurus Capital Management, LLC, Eugene Grin
and David Grin is set forth on Appendix A hereto.
Item 2(b). Address of Principal Business Office or if none, Residence: c/o
Laurus Capital Management, LLC, 825 Third Avenue, 14th Floor, New
York, NY 10022
Item 2(c). Citizenship: Cayman Islands
Item 2(d). Title of Class of Securities: Common Stock ("Common Stock")
Item 2(e). CUSIP Number: 846241107
Item 3. Not Applicable
Item 4. Ownership:
(a) Amount Beneficially Owned: 2,032,520 shares of Common Stock
(b) Percent of Class: 9.11%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 2,032,520 shares of
Common Stock
(ii) shared power to vote or to direct the vote: None (iii) sole
power to dispose or to direct the disposition of: 2,032,520
shares of Common Stock
(iv) shared power to dispose or to direct the disposition of: None
Item 5. Ownership of Five Percent or Less of a Class: Not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not applicable
Item 7. Identification and Classification of Subsidiary Which Acquired
the Securities: Not applicable
Item 8. Identification and Classification of Members of the Group:
Not applicable
Item 9. Notice of Dissolution of Group: Not applicable
Item 10. Certification:
By signing below, I certify 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.
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.
April 21, 2005
--------------
Date
/s/ Eugene Grin
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Eugene Grin
Director
APPENDIX A
A. Name: Laurus Capital Management, LLC,
a Delaware limited liability company
825 Third Avenue, 14th Floor
New York, New York 10022
Place of Organization: Delaware
B. Name: Eugene Grin
Business Address: 825 Third Avenue, 14th Floor
New York, New York 10022
Principal Director of Laurus Master Fund, Ltd.
Occupation: Principal of Laurus Capital Management, LLC
Citizenship: United States
C. Name: David Grin
Business Address: 825 Third Avenue, 14th Floor
New York, New York 10022
Principal Director of Laurus Master Fund, Ltd.
Occupation: Principal of Laurus Capital Management, LLC
Citizenship: Israel
Each of Laurus Capital Management, LLC, Eugene Grin and David Grin hereby agree,
by their execution below, that the Schedule 13G to which this Appendix A is
attached is filed on behalf of each of them, respectively.
Laurus Capital Management, LLC
/s/ Eugene Grin
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Eugene Grin,
on behalf of Laurus Capital Management, LLC Member
November 2, 2005
/s/ Eugene Grin
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Eugene Grin,
on his individual behalf
November 2, 2005
/s/ David Grin
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David Grin,
on his individual behalf
November 2, 2005