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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(B), (C) AND (D) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13(D)-2(B)
MIM Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
533044108
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(CUSIP Number)
December 31, 2004
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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)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
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).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE
NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL
NUMBER.
SEC 1745 (12-02)
CUSIP NO. 171164106 13G Page 2 of 14 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
The Pabrai Investment Fund II, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Illinois
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Number of 5. Sole Voting Power
Shares 0
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Beneficially 6. Shared Voting Power
Owned by 625,403
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Each 7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------
Person With: 8. Shared Dispositive Power
625,403
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
625,403
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
2.8%
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12. Type of Reporting Person (See Instructions)
PN
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CUSIP NO. 553044108 13G Page 3 of 13 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
The Pabrai Investment Fund 3, Ltd.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
British Virgin Islands
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Number of 5. Sole Voting Power
Shares 0
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Beneficially 6. Shared Voting Power
Owned by 441,000
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Each 7. Sole Dispositive Power
Reporting 0
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Person With: 8. Shared Dispositive Power
441,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
441,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
2.0%
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12. Type of Reporting Person (See Instructions)
CO
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CUSIP NO. 553044108 13G Page 4 of 13 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
The Pabrai Investment Fund IV, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
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Beneficially 6. Shared Voting Power
Owned by 907,000
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Each 7. Sole Dispositive Power
Reporting 0
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Person With: 8. Shared Dispositive Power
907,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
907,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
4.0%
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12. Type of Reporting Person (See Instructions)
PN
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CUSIP NO. 553044108 13G Page 5 of 13 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Dalal Street, Inc.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Illinois
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Number of 5. Sole Voting Power
Shares 0
-----------------------------------------------------
Beneficially 6. Shared Voting Power
Owned by 1,973,403
-----------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------
Person With: 8. Shared Dispositive Power
1,973,403
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,973,403
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
8.8%
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12. Type of Reporting Person (See Instructions)
CO
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CUSIP NO. 553044108 13G Page 6 of 13 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Mohnish Pabrai
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States
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Number of 5. Sole Voting Power
Shares 0
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Beneficially 6. Shared Voting Power
Owned by 1,994,692
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Each 7. Sole Dispositive Power
Reporting 0
-----------------------------------------------------
Person With: 8. Shared Dispositive Power
1,994,692
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,994,692*
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
8.9%
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12. Type of Reporting Person (See Instructions)
IN
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* Includes (a) 21,200 shares of common stock held by Mr. Pabrai and his wife,
Ms. Kapoor, as joint tenants with rights of survivorship and (b) 89 shares
of common stock held by Ms. Kapoor, over which Mr. Pabrai shares voting and
dispositive power.
CUSIP NO. 553044108 13G Page 7 of 13 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Harina Kapoor
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States
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Number of 5. Sole Voting Power
Shares 0
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Beneficially 6. Shared Voting Power
Owned by 21,289
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Each 7. Sole Dispositive Power
Reporting 0
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Person With: 8. Shared Dispositive Power
21,289
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
21,289*
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
**
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12. Type of Reporting Person (See Instructions)
IN
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* Includes 21,200 shares of common stock held by Ms. Kapoor and her husband,
Mr. Pabrai, as joint tenants with rights of survivorship.
** Less than one-tenth of one percent.
CUSIP NO. 553044108 13G Page 8 of 13 Pages
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ITEM 1. (A) NAME OF ISSUER. MIM Corporation
ITEM 1. (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
100 Clearbrook Road
Elmsford, NY 10523
ITEM 2. (A) NAME OF PERSON FILING.
This Schedule 13G is filed on behalf of The Pabrai Investment Fund II,
L.P. ("PIF2"), an Illinois limited partnership, Pabrai Investment Fund 3, Ltd.,
a British Virgin Islands corporation ("PIF3"), The Pabrai Investment Fund IV,
L.P., a Delaware limited partnership ("PIF4"), Dalal Street, Inc., an Illinois
corporation ("Dalal"), which is general partner of PIF2 and PIF4 and sole
investment manager of PIF3, Mohnish Pabrai, sole shareholder and chief executive
officer of Dalal and a shareholder and president of PIF3, and Harina Kapoor,
individual and wife of Mr. Pabrai (collectively, the "Reporting Persons"),
pursuant to a Joint Reporting Agreement dated February 14, 2004, filed by the
Reporting Persons as Exhibit A to this Schedule 13G.
ITEM 2. (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE.
17 Spectrum Point Drive
Suite 503
Lake Forest, CA 92630
ITEM 2. (C) CITIZENSHIP.
PIF2 is an Illinois limited partnership. PIF4 is a Delaware limited
partnership. PIF3 is a British Virgin Islands corporation. Dalal is an Illinois
corporation. Mohnish Pabrai is a United States citizen. Harina Kapoor is a
United States citizen.
ITEM 2. (D) TITLE OF CLASS OF SECURITIES. Common Stock, par value $.001
per share.
ITEM 2. (E) CUSIP NUMBER. 553044108
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), 13D-2(B)
OR (C), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
ITEM 4. OWNERSHIP.
(a) and (b).
This Schedule 13G shall not be construed as an admission that any
Reporting Person is, either for purposes of Section 13(d) or 13(g) of the
Exchange Act of 1934, as amended (the "Act") or for other purposes, is the
beneficial owner of any securities
CUSIP NO. 553044108 13G Page 9 of 13 Pages
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covered by this statement. By virtue of the relationships between and among (i)
Dalal in its capacity as the general partner and investment manager of PIF2,
PIF4 and PIF3, respectively and (ii) Mohnish Pabrai, in his capacity as sole
shareholder and chief executive officer of Dalal and president of PIF3, each of
the Reporting Persons may be deemed to be the beneficial owner of all or a
portion of the shares of Common Stock held by the other Reporting Persons.
Because of the relationships described in Item 2(a), the Reporting Persons may
be deemed to constitute a "group" within the meaning of Rule 13d-5 under the
Act, and as such, each member of the group would be deemed to beneficially own,
in the aggregate, all the shares of Common Stock held by members of the group.
The Reporting Persons disclaim membership in a group and disclaim beneficial
ownership of any of the shares of Common Stock except as follows.
Common Stock Beneficially
Reporting Person Owned % of Class (++)
---------------- ----- ---------------
The Pabrai Investment Fund II, L.P. 625,403 2.8%
Pabrai Investment Fund 3, Ltd. 441,000 2.0%
Pabrai Investment Fund IV, L.P. 907,000 4.0%
Dalal Street, Inc 0 0.0%
Mohnish Pabrai 21,289** **
Harina Kapoor 21,289** **
++ All percentages in this table are based on the 22,457,829 shares of Common
Stock of MIM Corporation issued and outstanding as of November 3, 2004, as
reported in the Form 10-Q for the quarterly period ended September, 2004 filed
by MIM Corporation with the Securities and Exchange Commission on November 8,
2004.
* Includes 21,200 shares of common stock held by Ms. Kapoor and her husband,
Mr. Pabrai, as joint tenants with rights of survivorship.
** Less than one-tenth of one percent.
(c)
Dalal Street, Inc. and Mohnish Pabrai, in his capacity as chief
executive officer of Dalal Street, Inc., have the shared power to vote or to
direct the vote and the shared power to dispose or to direct the disposition of
the shares of Common Stock set forth opposite the name of each of PIF2, PIF4 and
PIF3 in the table above. Dalal Street, Inc. and Mohnish Pabrai disclaim
beneficial ownership of any such shares of Common Stock except to the extent of
their pecuniary interest therein, if any. Mohnish Pabrai and Harina Kapoor share
the power to vote or to direct the vote and the power to dispose or to direct
the disposition of 21,289 shares of Common Stock set forth opposite their names
in the
CUSIP NO. 553044108 13G Page 10 of 13 Pages
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table above. Harina Kapoor disclaims beneficial ownership of any such shares of
Common Stock except to the extent of their pecuniary interest therein, if any.
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: [ ]
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 OR CONTROL PERSON.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
This Schedule 13G is being filed jointly pursuant to Rule 13d-1(k). As
a result of the relationships among the Reporting Persons described herein, some
or all of the Reporting Persons may be deemed to comprise a "group" within the
meaning of Section 13 of the Act and the Rules promulgated thereunder. However,
the Reporting Persons deny such group status.
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
with or as a participant in any transaction having that purpose or effect.
CUSIP NO. 553044108 13G Page 11 of 13 Pages
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SIGNATURES
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: February 14, 2004
THE PABRAI INVESTMENT FUND II, L.P.
By: Dalal Street, Inc., Its General Partner
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, Chief Executive Officer
PABRAI INVESTMENT FUND 3, LTD.
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, President
THE PABRAI INVESTMENT FUND IV, L.P.
By: Dalal Street, Inc., Its General Partner
By: /s/ Mohnish Pabrai
---------------------------------------------
Mohnish Pabrai, Chief Executive Officer
DALAL STREET, INC.
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, Chief Executive Officer
/s/ Harina Kapoor
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Harina Kapoor
/s/ Mohnish Pabrai
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Mohnish Pabrai
CUSIP NO. 553044108 13G Page 12 of 13 Pages
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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EXHIBIT A JOINT REPORTING AGREEMENT
CUSIP NO. 553044108 13G Page 13 of 13 Pages
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EXHIBIT A
JOINT REPORTING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed on or about this date with respect to the beneficial ownership of the
undersigned of shares of Common Stock of MIM Corporation is being filed on
behalf of each of the parties named below.
Dated: February 14, 2004
THE PABRAI INVESTMENT FUND II, L.P.
By: Dalal Street, Inc., Its General Partner
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, Chief Executive Officer
PABRAI INVESTMENT FUND 3, LTD.
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, President
THE PABRAI INVESTMENT FUND IV, L.P.
By: Dalal Street, Inc., Its General Partner
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, Chief Executive Officer
DALAL STREET, INC.
By: /s/ Mohnish Pabrai
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Mohnish Pabrai, Chief Executive Officer
/s/ Harina Kapoor
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Harina Kapoor
/s/ Mohnish Pabrai
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Mohnish Pabrai