SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
SCHEDULE
13D
Under
the Securities Exchange Act of 1934
(Amendment
No. ____________)*
(Name
of
Issuer)
(Title
of
Class of Securities)
(CUSIP
Number)
Stephen
R. Boatwright, Esq.
Keller
Rohrback, PLC
3101
North Central Ave., Suite 900
Phoenix,
AZ 85012
(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
(Date
of
Event Which Requires Filing of This Statement)
If
the
filing person has previously filed a statement on Schedule 13G to report
the
acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule l3d-1(e), 13d-1(f) or 13d-1(g), check the following
box. o
Note.
Schedules filed in paper format shall include a signed original and five
copies
of the schedule, including all exhibits. See
Rule
13d-7 for other parties to whom copies are to be sent.
*
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
disclosures provided in a prior cover page.
The
information required on 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).
|
|
|
CUSIP
NO. 46489V104
|
13D
|
Page
2 of 4 Pages
|
1
|
NAMES
OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES
ONLY)
Donald
Segna
|
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A
GROUP
(a)
o
(See
Instructions) (b)
o
|
3
|
SEC
USE ONLY
|
4
|
SOURCE
OF FUNDS (See
Instructions)
SC
|
5
|
CHECK
IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT
TO ITEM 2(D) OR 2(E)
o
|
6
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY
EACH
REPORTING PERSON
WITH
|
7
|
SOLE
VOTING POWER
511,214
|
8
|
SHARED
VOTING POWER
None
|
9
|
SOLE
DISPOSITIVE POWER
511,214
|
10
|
SHARED
DISPOSITIVE POWER
None
|
11
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
511,214
|
12
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
o
CERTAIN
SHARES
|
13
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.72%
|
14
|
TYPE
OF REPORTING PERSON
IN
|
Item
1. Security and Issuer.
This
statement on Schedule 13D relates to the Common Stock, par value $0.001 per
share (the "Common Stock") of IsoRay, Inc., a Minnesota corporation (the
"Issuer"). The principal executive offices of the Issuer are located at 350
Hills Street, Suite 106, Richland, Washington 99354.
Item
2. Identity and Background.
This
statement on Schedule 13D is being filed by Donald Segna ("Mr. Segna").
Mr.
Segna is a resident of the United States. Mr. Segna's principal occupation
is
serving as Vice President of Strategic Planning and a Director of the Issuer's
subsidiary, IsoRay Medical, Inc. Mr. Segna's business address is 350 Hills
Street, Suite 106, Richland, Washington 99354.
Mr.
Segna
has not, during the last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), nor has Mr. Segna
been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction resulting in judgment, decree or final order enjoining future
violation of, or prohibiting or mandating activities subject to, federal
or
state securities laws or finding any violation with respect to such
laws.
Item
3. Source and Amount of Funds or Other Consideration.
On
July
28, 2005, the Issuer completed a merger which resulted in IsoRay Medical,
Inc.
becoming a wholly-owned subsidiary of the Issuer, and as part of the merger,
the
Issuer issued shares of its common stock and other securities to the security
holders of IsoRay Medical, Inc. As Mr. Segna was a beneficial owner of certain
shares of common stock in IsoRay Medical, Inc., upon the completion of the
merger Mr. Segna became the beneficial owner of 511,214 shares of Common
Stock
of the Issuer without the expenditure of any funds.
Item
4. Purpose of Transaction.
On
July
28, 2005, Mr. Segna was issued 511,214 shares of Common Stock of the Issuer
as
part of the Issuer's merger with IsoRay Medical, Inc. Mr. Segna acquired
these
shares of Common Stock for investment purposes.
Mr.
Segna
reserves the right to purchase additional shares of the Issuer's Common Stock
or
to dispose of such securities in the open market, in privately negotiated
transactions or in any other lawful manner in the future. Except as set forth
in
this Schedule 13D, Mr. Segna has made no proposals, and has entered into
no
agreements, which would be related to or would result in any of the events
or
matters described in parts (a) through (j) of Item 4 of Schedule 13D. However,
as part of his ongoing review of investment alternatives, Mr. Segna may consider
such matters in the future and, subject to applicable law, may formulate
a plan
with respect to such events or matters, or may hold discussions with or make
formal proposals to management or the Board of Directors of the Issuer, other
stockholders of the Issuer or other parties regarding such matters.
Page 4
of 4
Item
5. Interest in Securities of the Issuer.
(a) As
of the
date of the filing of this statement, Mr. Segna beneficially owns 511,214
shares
of Common Stock, representing approximately 5.72% of the shares of Common
Stock
reported to be outstanding in the Issuer's Current Report on Form 8-K/A filed
on
August 15, 2005.
(b) Mr. Segna
has the sole power to vote or to direct the vote and to dispose or direct
the
disposition of all shares of Common Stock beneficially owned by
him.
(c) Except
as
disclosed in this Schedule 13D, Mr. Segna has not effected any transaction
in
the Common Stock during the past 60 days.
(d) Not
applicable.
(e) Not
applicable.
Item
6. Contracts, Arrangements, Understandings or Relationships with Respect
to
Securities of the Issuer.
None
Item
7. Material To Be Filed As Exhibits.
None
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:
August 17, 2005
/s/
Donald Segna
Donald
Segna