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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
IRIDEX CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
462684101
------------------------------------------------------------------------
(CUSIP Number)
December 31, 2002
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] 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
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).
(Continued on following page(s))
Page 1 of 8 Pages
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CUSIP No. 462684101
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================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David W. Tice & Associates, LLC - 75-2476962
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(SEE INSTRUCTIONS) (b) [ ]
Not Applicable
- -------- ----------------------------------------------------------------------
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 -0-
-------- --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 422,541
-------- --------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
422,541 (1)
- -------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
- -------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%(1)
- -------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
================================================================================
(1) The percent ownership calculated is based upon an aggregate of 6,902,248
shares outstanding as of November 5, 2002.
Page 2 of 8 Pages
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CUSIP No. 462684101
- ---------------------------------------
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Prudent Bear Funds, Inc. - 39-1837741
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(SEE INSTRUCTIONS) (b) [ ]
Not Applicable
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 422,541
-------- --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
-------- --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-------- --------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
422,541 (1)
- -------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
- -------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%(1)
- -------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IV
================================================================================
(1) The percent ownership calculated is based upon an aggregate of 6,902,248
shares outstanding as of November 5, 2002.
Page 3 of 8 Pages
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CUSIP No. 462684101
- ---------------------------------------
Item 1(a). Name of Issuer:
Iridex Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
1212 Terra Bella Avenue
Mountain View, CA 94043-1824
Item 2(a). Name of Person Filing:
The persons filing this Schedule 13G are (i) David W. Tice &
Associates, LLC, an investment adviser registered under Section
203 of the Investment Advisers Act of 1940 and (ii) Prudent Bear
Funds, Inc., an investment company registered under the
Investment Company Act of 1940. Attached as Exhibit 1 hereto,
which is incorporated by reference herein, is an agreement
between David W. Tice & Associates, LLC and Prudent Bear 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:
8140 Walnut Hill Lane, Suite 300
Dallas, Texas 75231
(for both David W. Tice & Associates, LLC and Prudent Bear Funds,
Inc.)
Item 2(c). Citizenship:
David W. Tice & Associates, LLC is a Delaware limited liability
company.
Prudent Bear Funds, Inc. is a Maryland corporation.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
462684101
Page 4 of 8 Pages
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CUSIP No. 462684101
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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 a:
[ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
[ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
[ ] Insurance company as defined in section 3(a)(19) of the
Act (15 U.S.C. 78c).
[X] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
[X] An investment adviser in accordance with ss.
240.13d-1(b)(1)(ii)(E).
[ ] An employee benefit plan or endowment fund in accordance
with ss. 240.13d-1(b)(1)(ii)(F).
[ ] A parent holding company or control person in accordance
with ss. 240.13d-1(b)(1)(ii)(G).
[ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
[ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
[ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership
David W. Tice & Associates, LLC
(a) Amount Beneficially Owned: 422,541 *
(b) Percent of Class: 6.1%
(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: -0-
(iii) sole power to dispose or to direct the disposition of:
422,541
(iv) shared power to dispose or to direct the disposition
of: -0-
- --------------
* David W. Tice & Associates, LLC and Prudent Bear Funds, Inc. share
beneficial ownership over the same 422,541 shares.
Page 5 of 8 Pages
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CUSIP No. 462684101
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Prudent Bear Funds, Inc.
(a) Amount Beneficially Owned: 422,541 *
(b) Percent of Class: 6.1%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 422,541
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition of:
-0-
(iv) shared power to dispose or to direct the disposition
of: -0-
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.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
- --------------
* David W. Tice & Associates, LLC and Prudent Bear Funds, Inc. share
beneficial ownership over the same 422,541 shares.
Page 6 of 8 Pages
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CUSIP No. 462684101
- ---------------------------------------
Item 10. Certification.
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.
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.
Date: February 10, 2003
DAVID W. TICE & ASSOCIATES, LLC
By: /s/ David W. Tice
---------------------------------
David W. Tice, President
PRUDENT BEAR FUNDS, INC.
By: /s/ David W. Tice
---------------------------------
David W. Tice, President
Page 7 of 8 Pages
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CUSIP No. 462684101
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EXHIBIT 1
AGREEMENT dated as of February 10, 2003, by and among David W. Tice &
Associates, LLC, a Delaware limited liability company, and Prudent Bear Funds,
Inc., a Maryland corporation.
WHEREAS, in accordance with Rule 13d-1(k) of the Securities Exchange Act of
1934 (the "Act"), only one such statement need be filed whenever two or more
persons are required to file a statement pursuant to Section 13(d) of the Act
with respect to the same securities, provided that said persons agree in writing
that such statement is filed on behalf of each of them.
NOW, THEREFORE, in consideration of the premises and mutual agreements
herein contained, the parties hereto agree as follows:
Both David W. Tice & Associates, LLC and Prudent Bear Funds, Inc. hereby
agree, in accordance with Rule 13d-1(k) under the Act, to file one Statement on
Schedule 13G relating to their ownership of the Common Stock of Iridex
Corporation, and hereby further agree that said Statement shall be filed on
behalf of both David W. Tice & Associates, LLC and Prudent Bear Funds, Inc.
Nothing herein shall be deemed to be an admission that the parties hereto, or
any of them, are members of a "group" (within the meaning of Section 13(d) of
the Act and the rules promulgated thereunder) with respect to any securities of
Iridex Corporation.
IN WITNESS WHEREOF, the parties have executed this agreement as of the date
first written above.
DAVID W. TICE & ASSOCIATES, LLC
By: /s/ David W. Tice
---------------------------------
David W. Tice, President
PRUDENT BEAR FUNDS, INC.
By: /s/ David W. Tice
---------------------------------
David W. Tice, President
Page 8 of 8 Pages