SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [X]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
COTELLIGENT, INC.
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(Name of Registrant as Specified In Its Charter)
SKIRITAI CAPITAL LLC
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] $125 per Exchange Act Rules O-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
Item 22(a)(2) of Schedule 14A.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and O-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule O-11:
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
O-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(4) Date Filed:
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IMPORTANT INFORMATION
SKIRITAI Capital LLC plans to file a proxy statement with the Securities and
Exchange Commission relating to a solicitation of proxies from the stockholders
of Cotelligent, Inc. ("Cotelligent") in connection with the 2002 Annual Meeting
of Stockholders of Cotelligent. SECURITY HOLDERS ARE ADVISED TO READ THAT PROXY
STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT
INFORMATION. The proxy statement, along with any other relevant documents, will
be available for free at www.sec.gov. You may also obtain a free copy of the
proxy statement, when it becomes available, by contacting SKIRITAI Capital LLC
at (415) 921-7896, or by sending an email to rsilvestri@SKIRITAI.com.
Information regarding the names, affiliation and interests of persons who may be
deemed to be participants in the solicitation of proxies of Cotelligent's
stockholders is set forth below.
INFORMATION REGARDING PARTICIPANTS
The following persons may be deemed to be participants in the solicitation of
proxies referred to above: (i) SKIRITAI Capital LLC; (ii) Russell Silvestri;
(iii) James Glockner; and (iv) Lyron Bentovim.
SKIRITAI Capital LLC, Russell Silvestri, and James Glockner have direct
beneficial ownership of shares of common stock of Cotelligent. Russell Silvestri
and Lyron Bentovim may be deemed to have indirect beneficial ownership of shares
of common stock of Cotelligent held by SKIRITAI Capital LLC by virtue of being
the Managing Partner and Managing Director, respectively, of SKIRITAI Capital
LLC. Quantified information relating to the security holdings of persons who may
be deemed to be participants in the solicitation of Cotelligent's stockholders
may be found in the Schedule 13D filed by SKIRITAI Capital LLC, Russell
Silvestri and James Glockner on May 20, 2002.
SKIRITAI Capital LLC
655 Montgomery Street
Suite 1438
San Francisco, California 94111
May 15, 2002
VIA MESSENGER AND OVERNIGHT COURIER
Cotelligent, Inc.
44 Montgomery Street, Suite 4050
San Francisco, California 94104
Attention: Secretary
RE: STOCKHOLDER NOTICE OF NOMINATION OF DIRECTOR
Dear Secretary:
The undersigned stockholders of Cotelligent, Inc., a Delaware
corporation (the "Company"), hereby notify the Company, pursuant to Section 4 of
Article I of the Company's Amended and Restated Bylaws (the "Bylaws"), as
follows:
At the Company's Annual Meeting of Stockholders to be held on June 11,
2002, the undersigned intend to nominate Russell Silvestri as a Class I director
to serve on the Company's Board of Directors for a three-year term to expire at
the Company's Annual Meeting of Stockholders to be held in 2005.
Pursuant to Section 4 of Article I of the Bylaws, the undersigned
hereby set forth the following:
(a) The name of the person to be nominated as a director is
Russell Silvestri.
(b) As of the record date for the Annual Meeting (the "Record
Date"), Russell Silvestri was the beneficial owner of an
aggregate of 582,000 shares of common stock, par value $.01
per share, of the Company ("Common Stock") entitled to vote at
the Annual Meeting. As evidenced by the enclosed broker's
statement, as of the Record Date, such shares of Common Stock
were held by Russell Silvestri and his direct investment
account through a "street name" holder of record. As of the
date hereof, Russell Silvestri is the beneficial owner of an
aggregate of 656,000 shares of Common Stock. As evidenced by
the enclosed broker's statement, as of the date hereof, such
shares of Common Stock are held through a "street name" holder
of record by Russell Silvestri's direct investment
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account and SKIRITAI Capital LLC, a Delaware limited liability
company of which Russell Silvestri is the Managing Partner.
(c) As of the record date for the Annual Meeting (the "Record
Date"), SKIRITAI Capital LLC was the beneficial owner of no
shares of Common Stock entitled to vote at the Annual Meeting.
As of the date hereof, SKIRITAI Capital LLC is the beneficial
owner of an aggregate of 626,000 shares of Common Stock. As
evidenced by the enclosed broker's statement, as of the date
hereof, such shares of Common Stock are held by SKIRITAI
Capital LLC through a "street name" holder of record.
(d) The information regarding Russell Silvestri that is required
to be included in a proxy statement, by the rules and
regulations of the Securities and Exchange Commission, for
nominees for election as directors is set forth in Annex A
hereto.
(e) Russell Silvestri's signed consent to serve as a director of
the Company if elected is attached hereto as Annex B.
(f) The names and addresses of the stockholders intending to make
the above-described nomination are as follows:
Russell Silvestri
c/o SKIRITAI Capital LLC
655 Montgomery Street
Suite 1438
San Francisco, California 94111
SKIRITAI Capital LLC
655 Montgomery Street
Suite 1438
San Francisco, California 94111
(g) Russell Silvestri and SKIRITAI Capital LLC intend to appear in
person at the Annual Meeting to nominate Russell Silvestri to
serve as a Class I director for the term specified above.
We believe that this notice complies in all respects with applicable
provisions of the Bylaws and applicable law. If the Company believes this notice
is incomplete or otherwise deficient in any respect, we request that the Company
contact us immediately so that we may promptly address any alleged deficiencies.
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Please acknowledge receipt of this letter by signing and dating the
enclosed copy of this letter and returning the same to the undersigned in the
enclosed envelope.
Very truly yours,
Russell Silvestri
/s/ Russell Silvestri
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SKIRITAI Capital LLC
/s/ Lyron Bentovim
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Lyron Bentovim
Managing Director
RECEIPT ACKNOWLEDGED ON MAY ____, 2002
COTELLIGENT, INC.
By:
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Name:
Title:
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ANNEX A
Russell Silvestri
Mr. Silvestri, age 40, has served as Managing Partner of SKIRITAI Capital LLC
since April of 2002. From October of 2000 to March of 2001, he was Managing
Director of Focus Capital LLC. From October of 1999 to October of 2000 he
competed as an athlete in the Olympics. From February of 1989 to October of 1999
he served as a Managing Director of Robertson Stephens.
Mr. Silvestri holds a Bachelor of Science in Business from the University of
Southern California.
Beneficial Ownership of Russell Silvestri as of May 15, 2002:
======= ============================== ================== ================================== =============================
TITLE OF CLASS NAME OF AMOUNT AND NATURE OF PERCENT OF CLASS
BENEFICIAL OWNER BENEFICIAL OWNERSHIP
------- ------------------------------ ------------------ ---------------------------------- -----------------------------
Common Stock of Cotelligent, Russell Silvestri 656,000 shares(1) 4.4(2)
Inc., $0.01 Par Value
("Common Stock")
======= ============================== ================== ================================== =============================
(1) 626,000 shares of Common Stock are held by SKIRITAI Capital LLC. Mr.
Silvestri is the Managing Partner of SKIRITAI Capital LLC. As Managing
Partner, Mr. Silvestri has shared voting and dispositive power over
such shares. Mr. Silvestri holds the remaining 30,000 shares of Common
Stock through an IRA and shares dispositive and voting power over such
shares with his spouse.
(2) Based on 14,900,981 shares of Common Stock outstanding as of April 24,
2002 as disclosed by Cotelligent, Inc. in its latest Proxy Statement.
Beneficial Ownership of Associates as of May 15, 2002:
Mr. Silvestri, SKIRITAI Capital LLC , and James Glockner are members of a group.
As of May 15, 2002, Mr. Glockner is the beneficial owner of 122,000 shares of
Common Stock which represent .8 percent of the 14,900,981 shares of Common Stock
outstanding as of April 24, 2002 (as disclosed by Cotelligent, Inc. in its
latest Proxy Statement).
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ANNEX B
CONSENT TO SERVE AS A DIRECTOR OF COTELLIGENT, INC.
The undersigned, Russell Silvestri, hereby consents and agrees to be nominated
as a director of Cotelligent, Inc., a Delaware corporation (the "Company"), and
hereby further consents and agrees to serve as a director of the Company if
elected.
/s/ Russell Silvestri
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Russell Silvestri
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BANC OF AMERICA SECURITIES LLC
WORKING APPRAISAL BY ASSET CLASS
Russ Silvestri IRA 04/24/02
DATE TAX SHARES/ BROKER UNIT CURRENT PCT TOTAL MARKET UNREALIZED PCT OF
OPENED TERM FACE COST PRICE G/L COST VALUE GAIN/LOSS ASSETS
CGZT COTELLIGENT GROUP INC.
02/14/02 ST 15,000.00 MONT 0.40000 0.50000 25.00 6,000.00 7,500.00 1,500.00 1.20
02/19/02 ST 5,000.00 MONT 0.35000 0.50000 42.86 1,750.00 2,500.00 750.00 0.40
03/28/02 ST 10,000.00 MONT 0.48000 0.50000 4.17 4,800.00 5,000.00 200.00 0.80
--------- ------- ------- ----- --------- --------- -------- ----
30,000.00 0.41833 0.50000 19.52 12,550.00 15,000.00 2,450.00 2.41
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BANC OF AMERICA SECURITIES LLC
WORKING APPRAISAL BY ASSET CLASS
Russ Silvestri 04/24/02
DATE TAX SHARES/ BROKER UNIT CURRENT PCT TOTAL MARKET UNREALIZED PCT OF
OPENED TERM FACE COST PRICE G/L COST VALUE GAIN/LOSS ASSETS
CGZT COTELLIGENT GROUP INC.
01/03/02 ST 15,000.00 MONT 0.33003 0.50000 51.50 4,950.50 7,500.00 2,549.50 0.44
01/18/02 ST 15,000.00 MONT 0.40333 0.50000 23.97 6,050.00 7,500.00 1,450.00 0.44
01/22/02 ST 10,000.00 MONT 0.35500 0.50000 40.85 3,550.00 5,000.00 1,450.00 0.30
01/24/02 ST 65,000.00 MONT 0.40850 0.50000 22.40 26,552.50 32,500.00 5,947.50 1.92
01/25/02 ST 20,000.00 MONT 0.34000 0.50000 47.06 6,800.00 10,000.00 3,200.00 0.59
01/28/02 ST 50,000.00 MONT 0.34200 0.50000 46.20 17,100.00 25,000.00 7,900.00 1.48
01/29/02 ST 5,000.00 MONT 0.33000 0.50000 53.52 1,650.00 2,500.00 850.00 0.15
01/31/02 ST 20,000.00 MONT 0.33000 0.50000 51.52 6,600.00 10,000.00 3,400.00 0.59
02/07/02 ST 5,000.00 MONT 0.32000 0.50000 56.25 1,600.00 2,500.00 900.00 0.15
02/08/02 ST 25,000.00 MONT 0.31000 0.50000 61.29 7,750.00 12,500.00 4,750.00 0.74
02/28/02 ST 5,000.00 CANT 0.40300 0.50000 24.07 2,015.00 2,500.00 485.00 0.15
03/22/02 ST 125,000.00 MONT 0.49800 0.50000 0.40 62,250.00 62,500.00 250.00 3.69
03/26/02 ST 25,000.00 HRZG 0.40060 0.50000 24.81 10,015.00 12,500.00 2,485.00 0.74
03/27/02 ST 77,000.00 HRZG 0.41239 0.50000 21.24 31,754.40 38,500.00 6,745.60 2.27
03/28/02 ST 90,000.00 HERZ 0.42687 0.50000 17.13 38,418.00 45,000.00 6,582.00 2.66
---------- ------- ------- ----- ---------- ---------- --------- -----
552,000.00 0.41133 0.50000 21.56 227,055.40 276,000.00 48,944.60 16.31
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BANC OF AMERICA SECURITIES LLC
WORKING APPRAISAL BY ASSET CLASS
Skiritai Capital LLC 05/15/02
DATE TAX SHARES/ BROKER UNIT CURRENT PCT TOTAL MARKET UNREALIZED PCT OF
OPENED TERM FACE COST PRICE G/L COST VALUE GAIN/LOSS ASSETS
CGZT COTELLIGENT GROUP INC.
01/03/02 ST 15,000.00 STUP 0.33003 0.52000 57.56 4,950.50 7,800.00 2,849.50 0.59
01/18/02 ST 15,000.00 STUP 0.40333 0.52000 28.93 6,050.00 7,800.00 1,750.00 0.59
01/22/02 ST 10,000.00 STUP 0.35500 0.52000 46.48 3,550.00 5,200.00 1,650.00 0.40
01/24/02 ST 65,000.00 STUP 0.40850 0.52000 27.29 26,552.50 33,800.00 7,247.50 2.57
01/25/02 ST 20,000.00 STUP 0.34000 0.52000 52.94 6,800.00 10,400.00 3,600.00 0.79
01/28/02 ST 50,000.00 STUP 0.34200 0.52000 52.05 17,100.00 26,000.00 8,900.00 1.98
01/29/02 ST 5,000.00 STUP 0.33000 0.52000 57.58 1,650.00 2,600.00 950.00 0.20
01/31/02 ST 20,000.00 STUP 0.33000 0.52000 57.58 6,600.00 10,400.00 3,800.00 0.79
02/07/02 ST 5,000.00 STUP 0.32000 0.52000 62.50 1,600.00 2,600.00 1,000.00 0.20
02/08/02 ST 25,000.00 STUP 0.31000 0.52000 67.74 7,750.00 13,000.00 5,250.00 0.99
02/28/02 ST 5,000.00 STUP 0.40300 0.52000 29.03 2,015.00 2,600.00 585.00 0.20
03/22/02 ST 125,000.00 STUP 0.49800 0.52000 4.42 62,250.00 65,000.00 2,750.00 4.95
03/26/02 ST 25,000.00 STUP 0.40060 0.52000 29.81 10,015.00 13,000.00 2,985.00 0.99
03/27/02 ST 77,000.00 STUP 0.41239 0.52000 26.09 31,754.40 40,040.00 8,285.60 3.05
03/28/02 ST 90,000.00 STUP 0.42687 0.52000 21.82 38,418.00 46,800.00 8,382.00 3.56
04/30/02 ST 3,000.00 STUP 0.51000 0.52000 1.96 1,530.00 1,560.00 30.00 0.12
05/02/02 ST 10,000.00 STUP 0.45150 0.52000 15.17 4,515.00 5,200.00 685.00 0.40
05/03/02 ST 16,000.00 STUP 0.45094 0.52000 15.32 7,215.00 8,320.00 1,105.00 0.63
05/08/02 ST 5,000.00 STUP 0.42300 0.52000 22.93 2,115.00 2,600.00 485.00 0.20
05/10/02 ST 15,000.00 MLCO 0.44430 0.52000 17.04 6,664.50 7,800.00 1,135.50 0.59
05/13/02 ST 25,000.00 MLCO 0.51060 0.52000 1.84 12,765.00 13,000.00 235.00 0.99
---------- ------- ------- ----- ---------- ---------- --------- -----
626,000.00 0.41831 0.52000 24.31 261,859.90 325,520.00 63,660.10 24.77
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BANC OF AMERICA SECURITIES LLC
WORKING APPRAISAL BY ASSET CLASS
Russ Silvestri IRA 05/15/02
DATE TAX SHARES/ BROKER UNIT CURRENT PCT TOTAL MARKET UNREALIZED PCT OF
OPENED TERM FACE COST PRICE G/L COST VALUE GAIN/LOSS ASSETS
CGZT COTELLIGENT GROUP INC.
02/14/02 ST 15,000.00 MONT 0.40000 0.52000 30.00 6,000.00 7,800.00 1,800.00 1.30
02/19/02 ST 5,000.00 MONT 0.35000 0.52000 48.57 1,750.00 2,600.00 850.00 0.43
03/28/02 ST 10,000.00 MONT 0.48000 0.52000 8.33 4,800.00 5,200.00 400.00 0.86
--------- ------- ------- ----- --------- --------- -------- ----
30,000.00 0.41833 0.52000 24.30 12,550.00 15,600.00 3,050.00 2.59
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