ARTS WAY MANUFACTURING CO INC

Major Shareholding Notification • Jul 6, 2009

SC 13G 1 v153972_13g.htm Unassociated Document Licensed to: Vintage Filings Document Created using EDGARizer 4.0.6.4 Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G*

(Rule 13d-102)

Information to be Included in Statement filed Pursuant to § 240.13d-1(b), (c)

and (d) and Amendments Thereto Filed Pursuant to § 240.13d-2

Under the Securities Exchange Act of 1934

(Amendment No. ____)

Art’s-Way Manufacturing Co., Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

043168103

(CUSIP Number)

June 19, 2008

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o 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 of the subject class of securities, and for any subsequent amendment contain 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).

CUSIP No. 043168103 13G Page 2 of 9

| 1. | Names
of Reporting Persons Joseph
R. Dancy | |
| --- | --- | --- |
| 2. | Check
the Appropriate Box if a Member of a Group (See
Instructions) | (a) ¨ |
| | **Joint
Filing | (b) ¨ |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization USA | |

| Number
of Shares Beneficially Owned
by Each Reporting Person
With | Sole
Voting Power 106,050 |
| --- | --- |
| 6. | Shared
Voting Power 164,100 |
| 7. | Sole
Dispositive Power 106,050 |
| 8. | Shared
Dispositive Power 164,100 |

| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person 270,150 |
| --- | --- |
| 10. | Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) x |
| | Reporting
person expressly disclaims beneficial ownership of 128,240 shares of the
270,150 aggregate amount reported in Row 9, except to the extent of his
pecuniary interests therein. |
| 11. | Percent
of Class Represented by Amount in Row (9) 6.8% |
| 12. | Type
of Reporting Person (See Instructions) IN |

2

CUSIP No. 043168103 13G Page 3 of 9

| 1. | Names
of Reporting Persons Victoria
A. Dancy | |
| --- | --- | --- |
| 2. | Check
the Appropriate Box if a Member of a Group (See
Instructions) | (a) ¨ |
| | **Joint
Filing | (b) ¨ |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization U.S.A. | |

| Number
of Shares Beneficially Owned
by Each Reporting Person
With | Sole
Voting Power 31,500 |
| --- | --- |
| 6. | Shared
Voting Power 238,650 |
| 7. | Sole
Dispositive Power 31,500 |
| 8. | Shared
Dispositive Power 238,650 |

| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person 270,150 |
| --- | --- |
| 10. | Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions) x |
| | Reporting
person expressly disclaims beneficial ownership of 203,790 shares of the
270,150 aggregate amount reported in Row 9, except to the extent of her
pecuniary interests therein. |
| 11. | Percent
of Class Represented by Amount in Row (9) 6.8% |
| 12. | Type
of Reporting Person (See Instructions) IN |

3

CUSIP No. 043168103 13G Page 4 of 9

| 1. | Names
of Reporting Persons LSGI
Technology Venture Fund L.P. 75-2825353 | |
| --- | --- | --- |
| 2. | Check
the Appropriate Box if a Member of a Group (See
Instructions) | (a) ¨ |
| | **Joint
Filing | (b) ¨ |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization Texas | |

| Number
of Shares Beneficially Owned
by Each Reporting Person
With | Sole
Voting Power 0 |
| --- | --- |
| 6. | Shared
Voting Power 131,600 |
| 7. | Sole
Dispositive Power 0 |
| 8. | Shared
Dispositive Power 131,600 |

| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person 131,600 |
| --- | --- |
| 10. | Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) ¨ |
| 11. | Percent
of Class Represented by Amount in Row (9) 3.3% |
| 12. | Type
of Reporting Person (See Instructions) PN |

4

CUSIP No. 043168103 13G Page 5 of 9

| 1. | Names
of Reporting Persons LSGI
Advisors Inc. 75-2805972 | |
| --- | --- | --- |
| 2. | Check
the Appropriate Box if a Member of a Group (See
Instructions) | (a) ¨ |
| | **Joint
Filing | (b) ¨ |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization Texas | |

| Number
of Shares Beneficially Owned
by Each Reporting Person
With | Sole
Voting Power 132,600
(1) |
| --- | --- |
| 6. | Shared
Voting Power 0 |
| 7. | Sole
Dispositive Power 132,600
(1) |
| 8. | Shared
Dispositive Power 0 |

| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person 132,600
(1) |
| --- | --- |
| 10. | Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) ¨ |
| 11. | Percent
of Class Represented by Amount in Row (9) 3.3% |
| 12. | Type
of Reporting Person (See Instructions) CO |

(1) Includes 131,600 shares owned by LSGI Technology Venture Fund L.P., a limited partnership of which LSGI Advisors Inc. is the general partner.

5

| Item
1. | (a) | Name
of Issuer Art’s-Way
Manufacturing Co., Inc. | |
| --- | --- | --- | --- |
| | (b) | Address
of Issuer’s Principal Executive Offices 5556
Highway 9, Armstrong, IA 50514-0288 | |
| Item
2. | | | |
| | (a) | Name
of Person Filing (i)
Joseph R. Dancy, an individual, with respect to the common stock directly
owned by him individually, as custodian for his two minor children under
the Uniform Transfer to Minors Act and by the Joseph R. Dancy IRA; with
respect to the common stock directly owned by Mr. Dancy’s spouse, Victoria
A. Dancy; with respect to common stock directly owned by LSGI Advisors
Inc., a Texas corporation of which Mr. Dancy is the sole owner and officer
(“LSGI Advisors”); and with respect to common stock directly owned
by LSGI Technology Venture Fund, L.P., a Texas limited
partnership of which LSGI Advisors Inc. is the general partner and of
which Mr. Dancy, Victoria A. Dancy, the Joseph R. Dancy Irrevocable Trust
(for the benefit of Joseph R. Dancy), the Victoria A. Dancy Irrevocable
Trust (for the benefit of Victoria A. Dancy), Mr. and Mrs. Dancy’s two
minor children, and LSGI Advisors are limited partners (“LSGI
Fund”). (ii)
Victoria A. Dancy, an individual, with respect to common stock directly
owned by her individually and by the Victoria A. Dancy IRA; with respect
to common stock directly owned by Mrs. Dancy’s spouse, Joseph R. Dancy,
individually, by the Joseph R. Dancy IRA and as custodian for Mr. and Mrs.
Dancy’s two minor children under the Uniform Transfer to Minors Act; with
respect to common stock directly owned by LSGI Advisors; and with respect
to common stock directly owned by LSGI Fund. (iii)
LSGI Fund, with respect to the common stock owned directly by
it. (iv)
LSGI Advisors with respect to the common stock owned directly by it and
with respect to common stock directly owned by the Fund. | |
| | (b) | Address
of Principal Business Office or, if none, Residence The
address of Joseph R. Dancy, Victoria A. Dancy, LSGI Technology Fund, L.P.
and LSGI Advisors, Inc. is: 1007
Beaver Creek Duncanville,
Texas 75137 | |
| | (c) | Citizenship See
Cover Pages, Item 4 | |
| | (d) | Title
of Class of Securities Common
Stock, $0.01 par value | |
| | (e) | CUSIP
Number See
Cover Pages | |
| Item
3. | If
this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c),
check whether the person filing is a: | | |
| | (a) | o | Broker
or dealer registered under section 15 of the Act (15 U.S.C.
78o). |
| | (b) | o | Bank
as defined in section 3(a)(6) of the Act (15 U.S.C.
78c). |
| | (c) | o | Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c). |
| | (d) | o | Investment
company registered under section 8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8). |
| | (e) | o | An
investment adviser in accordance with
§240.13d-1(b)(1)(ii)(E); |
| | (f) | o | An
employee benefit plan or endowment fund in accordance with
§240.13d-1(b)(1)(ii)(F); |
| | (g) | o | A
parent holding company or control person in accordance with
§240.13d-1(b)(1)(ii)(G); |
| | (h) | o | A
savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813); |
| | (i) | o | 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); |
| | (j) | o | Group,
in accordance with
§240.13d-1(b)(1)(ii)(J). |

6

| Item
4. | Ownership | | |
| --- | --- | --- | --- |
| Provide
the following information regarding the aggregate number and percentage of
the class of securities of the issuer identified in Item
1. | | | |
| | (a) | Amount
beneficially owned: See
Cover Pages, Items 5 through 11 | |
| | (b) | Percent
of class: See
Cover Pages, Items 5 through 11 | |
| | (c) | Number
of shares as to which the person has: See
Cover Pages, Items 5 through 11 | |
| | | (i) | Sole
power to vote or to direct the vote See
Cover Pages, Items 5 through 11 |
| | | (ii) | Shared
power to vote or to direct the vote See
Cover Pages, Items 5 through 11 |
| | | (iii) | Sole
power to dispose or to direct the disposition
of See
Cover Pages, Items 5 through 11 |
| | | (iv) | Shared
power to dispose or to direct the disposition
of See
Cover Pages, Items 5 through 11 |
| 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 o . | | | |
| 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 | | |
| | Not
Applicable | | |
| Item
9. | Notice
of Dissolution of Group | | |
| | Not
applicable | | |

| Item
10. |
| --- |
| Not
applicable |

7

Exhibits

Joint Filing Agreement, dated July 6, 2009, between the Reporting Persons.

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: July
6, 2009 | | |
| --- | --- | --- |
| Joseph
R. Dancy | | |
| /s/
Joseph R. Dancy | | |
| Signature | | |
| Victoria
A. Dancy | | |
| /s/
Victoria A. Dancy | | |
| Signature | | |
| LSGI
TECHNOLOGY VENTURE FUND, L.P. | | |
| BY: | LSGI
Advisors Inc., its General Partner | |
| | BY: | /s/
Joseph R. Dancy |
| | | Joseph
R. Dancy, President |
| LSGI
ADVISORS INC. | | |
| | BY: | /s/
Joseph R. Dancy |
| | | Joseph
R. Dancy,
President |

8

Agreement to Make Joint Filing Statement

The undersigned hereby agree to file a joint Schedule 13G with respect to the interests of the undersigned in Art’s-Way Manufacturing Co., Inc. and that the Schedule 13G to which this Agreement is attached has been filed on behalf of each of the undersigned.

Dated: July 6, 2009

| Joseph
R. Dancy | | |
| --- | --- | --- |
| /s/
Joseph R. Dancy | | |
| Victoria
A. Dancy | | |
| /s/
Victoria A. Dancy | | |
| LSGI
TECHNOLOGY VENTURE FUND L.P. | | |
| BY: | LSGI
Advisors, Inc., its General Partner | |
| | By: | /s/ Joseph R. Dancy |
| | | Joseph
R. Dancy, Sole Shareholder |
| LSGI
ADVISORS, INC. | | |
| By: | /s/ Joseph R. Dancy | |
| | Joseph
R. Dancy, Sole
Shareholder | |

9