13G Filing: Act Capital Management, LP and Crossroads Systems Inc (CRDS)

Item 4.

Ownership

ACT Capital Management, LLLP is the beneficial owner of 1,987 shares of common stock of the Issuer.  In addition, ACT holds 708,235 convertible preferred units . Each unit consists of one share of 5.0% convertible preferred stock and warrants to purchase shares of common stock equal to one-half of the number of shares of convertible preferred purchase. The 708,235 units are convertible into common on a 1:20 basis.  The convertible preferred stock and associated warrants are subject to a 9.99% blocking provision.  Amir L. Ecker and Carol G. Frankenfield are the General Partners of ACT Capital Management, LLLP.  Investment decisions made on behalf of ACT Capital Management, LLLP are made primarily by its General Partners.

(a)

Amount beneficially owned:

(1)                                 59,053

(2)                                 59,053 ( Mr. Ecker may be deemed a beneficial owner of the shares held by ACT Capital Management, LLLP solely because he is a General Partner of that partnership.)

(3)                                 59,053 (Ms. Frankenfield may be deemed a beneficial owner of the shares held by ACT Capital Management, LLLP solely because she is a General Partner of that partnership.)

(b)

Percent of class:

(1)                                 4.8%

(2)                                 4.8%

(3)                                 4.8%

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote

(1)                                 1,987

(2)                                 20,987

(3)                                 0

(ii)

Shared power to vote or to direct the vote

(1)                                 0

(2)                                 12,412

(3)                                 9,412

(iii)

Sole power to dispose or to direct the disposition of

(1)                                 1,987

(2)                                 0

(3)                                 0

(iv)

Shared power to dispose or to direct the disposition of

(1)                                 59,053

(2)                                 59,053

(3)                                 59,053

The percentages set forth in this Schedule 13G are based upon the total number of shares of the Issuers common stock outstanding of  1,225,472 shares based on information provided by the Issuer.

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   x.

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 or Control Person

Item 8.

Identification and Classification of Members of the Group

Item 9.

Notice of Dissolution of Group