|
1
|
NAME OF REPORTING PERSONS
Perritt Capital Management, Inc.
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
Not Applicable
|
(a) ¨
(b) o
|
|||
|
3
|
SEC USE ONLY
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
|
||||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
|||
|
6
|
SHARED VOTING POWER
262,000 (1)
|
||||
|
7
|
SOLE DISPOSITIVE POWER
0
|
||||
|
8
|
SHARED DISPOSITIVE POWER
262,000 (1)
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
262,000
|
||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
|
o
|
|||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6% (2)
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
|
||||
|
|
(1)
|
Represents shares beneficially owned by Perritt Funds, Inc. (see Item 2(a)).
|
|
|
(2)
|
The percent ownership calculated is based upon an aggregate of 4,685,941 shares outstanding as of November 7, 2013.
|
|
1
|
NAME OF REPORTING PERSONS
Perritt Funds, Inc.
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
Not Applicable
|
(a) ¨
(b) o
|
|||
|
3
|
SEC USE ONLY
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
|
||||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
|||
|
6
|
SHARED VOTING POWER
262,000
|
||||
|
7
|
SOLE DISPOSITIVE POWER
0
|
||||
|
8
|
SHARED DISPOSITIVE POWER
262,000
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
262,000
|
||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
|
o
|
|||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6% (1)
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IV
|
||||
|
|
(1)
|
The percent ownership calculated is based upon an aggregate of 4,685,941 shares outstanding as of November 7, 2013.
|
|
Item 1(a).
|
Name of Issuer:
|
|
|
Smartpros Ltd.
|
|
Item 1(b).
|
Address of Issuer’s Principal Executive Offices:
|
|
|
12 Skyline Drive, Hawthorne, NY 10532
|
|
Item 2(a).
|
Name of Person Filing:
|
|
|
The persons filing this Schedule 13G are (i) Perritt Capital Management, Inc., an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, and (ii) Perritt Funds, Inc., an investment company registered under the Investment Company Act of 1940. Perritt Capital Management, Inc. is the investment adviser to Perritt Funds, Inc. and its sole series, Perritt Ultra MicroCap Fund. Attached as Exhibit 1 hereto, which is incorporated by reference herein, is an agreement between Perritt Capital Management, Inc. and Perritt Funds, Inc. that this Schedule 13G is filed on behalf of each of them.
|
|
Item 2(b).
|
Address of Principal Business Office or, if none, Residence:
|
|
|
300 South Wacker Drive, Suite 2880, Chicago, IL 60606
|
|
Item 2(c).
|
Citizenship:
|
|
|
Perritt Capital Management, Inc. is an Illinois corporation.
|
|
|
Perritt Funds, Inc. is a Maryland corporation.
|
|
Item 2(d).
|
Title of Class of Securities:
|
|
|
Common Stock
|
|
Item 2(e).
|
CUSIP Number:
|
|
|
83171G103
|
|
Item 3.
|
If this statement is filed pursuant to sections 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
|
|
|
T
|
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
|
|
|
T
|
An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E).
|
|
|
Item 4.
|
Ownership:
|
|
|
Perritt Capital Management, Inc.
|
|
|
(a)
|
Amount Beneficially Owned: 262,000
|
|
|
(b)
|
Percent of Class: 5.6%
|
|
|
(c)
|
Number of shares as to which such person has:
|
|
|
(i)
|
sole power to vote or to direct the vote: 0
|
|
|
(ii)
|
shared power to vote or to direct the vote: 262,000
|
|
|
(iii)
|
sole power to dispose or to direct the disposition of: 0
|
|
|
(iv)
|
shared power to dispose or to direct the disposition of: 262,000
|
|
|
Perritt Funds, Inc.
|
|
|
(a)
|
Amount Beneficially Owned: 262,000
|
|
|
(b)
|
Percent of Class: 5.6%
|
|
|
(c)
|
Number of shares as to which such person has:
|
|
|
(i)
|
sole power to vote or to direct the vote: 0
|
|
|
(ii)
|
shared power to vote or to direct the vote: 262,000
|
|
|
(iii)
|
sole power to dispose or to direct the disposition of: 0
|
|
|
(iv)
|
shared power to dispose or to direct the disposition of: 262,000
|
|
Item 5.
|
Ownership of Five Percent or Less of a Class:
|
|
|
N/A
|
|
Item 6.
|
Ownership of More than Five Percent on Behalf of Another Person:
|
|
|
N/A
|
|
Item 7.
|
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:
|
|
|
N/A
|
|
Item 8.
|
Identification and Classification of Members of the Group:
|
|
|
N/A
|
|
Item 9.
|
Notice of Dissolution of Group:
|
|
|
N/A
|
|
|
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.
|
|
|
Exhibits.
|
|
|
1.
|
Agreement to file Schedule 13G jointly.
|