SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13G
Tag-It Pacific, Inc.
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(Name of Issuer)
Common Stock, $.001 Par Value Per Share
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(Title of Class of Securities)
873774103
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(CUSIP Number of Class of Securities)
June 27, 2007
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(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)
CUSIP No. 873774103 Page 2 of 9 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Bluefin Capital, LLC (26-0464450)
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X] Reporting person is affiliated with other persons.
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 3,600,000 Shares
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 3,600,000 Shares
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,600,000 Shares
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3% of Common Stock
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
CUSIP No. 873774103 Page 3 of 9 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ComVest Capital LLC (51-0567257)
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X] Reporting person is affiliated with other persons.
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 3,600,000 Shares
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 3,600,000 Shares
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,600,000 Shares
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3% of Common Stock
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
CUSIP No. 873774103 Page 4 of 9 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ComVest Capital Management LLC (51-0567244)
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X] Reporting person is affiliated with other persons.
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 3,600,000 Shares
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 3,600,000 Shares
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,600,000 Shares
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3% of Common Stock
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
CUSIP No. 873774103 Page 5 of 9 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ComVest Group Holdings, LLC (01-0622406)
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X] Reporting person is affiliated with other persons.
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 3,600,000 Shares
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 3,600,000 Shares
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,600,000 Shares
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3% of Common Stock
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
CUSIP No. 873774103 Page 6 of 9 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Michael S. Falk
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X] Reporting person is affiliated with other persons.
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 3,600,000 Shares
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 3,600,000 Shares
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,600,000 Shares
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3% of Common Stock
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
Page 7 of 9 Pages
ITEM 1(a). Name of Issuer:
Tag-It Pacific, Inc.
ITEM 1(b). Address of Issuer's Principal Executive Offices:
21900 Burbank Blvd., Suite 270, Woodland Hills, CA 91367
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ITEM 2(a). Names of Persons Filing:
Bluefin Capital, LLC ("Bluefin")
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ComVest Capital LLC ("ComVest")
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ComVest Capital Management LLC ("Management")
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ComVest Group Holdings, LLC ("CGH")
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Michael S. Falk
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ITEM 2(b). Address of Principal Business Office or, if None, Residence:
One North Clematis Street, Suite 300, West Palm Beach, Florida 33401
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ITEM 2(c). Citizenship:
Bluefin, Management, ComVest and CGH are Delaware Limited Liability
Companies.
Michael S. Falk is a U.S. citizen.
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ITEM 2(d). Title of Class of Securities:
Common Stock, $.001 Par Value Per Share
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ITEM 2(e). CUSIP Number: 873774103
ITEM 3. If this Statement is filed pursuant to Rules 13d-1(b) or
13d-2(b) or (c), check whether the person filing is:
The reporting persons are a group for purposes of the filing of this
statement.
ITEM 4. Ownership:
(a) Amount beneficially owned by all reporting persons: 3,600,000 Shares
Page 8 of 9 Pages
(b) Percent of class: 16.3% of Common Stock
(c) Number of shares as to which the reporting persons have:
(i) sole power to vote or to direct the vote: 0 Shares
(ii) shared power to vote or to direct the vote: 3,600,000 Shares
(iii) sole power to dispose or to direct the disposition: 0 Shares
(iv) shared power to dispose or to direct the disposition:
3,600,000 Shares
ITEM 5. Ownership of five percent or less of a class.
If this statement is being filed to reflect the fact that as of the
date hereof the reporting person has ceased to be the 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.
Not applicable.
ITEM 7. Identification and classification of the subsidiary which acquired the
security being reported on by the parent holding company.
Not applicable.
ITEM 8. Identification and classification of members of the group.
The reporting persons are a group for purposes of filing this
Statement. See Exhibit 1 attached hereto.
ITEM 9. Notice of dissolution of group.
Not applicable.
ITEM 10. Certifications.
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 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.
Dated: July 10, 2007
Bluefin Capital, LLC
By: ComVest Capital LLC,
its managing member
By: /s/ Cecilio M. Rodriguez
---------------------------------
Cecilio M. Rodriguez
ComVest Capital LLC
By: ComVest Capital Management LLC,
its managing member
By: /s/ Cecilio M. Rodriguez
-----------------------------
Cecilio M. Rodriguez
ComVest Capital Management LLC
By: /s/ Cecilio M. Rodriguez
---------------------------------
Cecilio M. Rodriguez
ComVest Group Holdings LLC
By: /s/ Cecilio M. Rodriguez
---------------------------------
Cecilio M. Rodriguez
/s/ Michael S. Falk
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Michael S. Falk, individually