UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

§ 240.13d-2(a)

 

(Amendment No.  )1

 

GEE Group Inc.

(Name of Issuer)

 

Common Stock, no par value

(Title of Class of Securities)

 

36165A102

(CUSIP Number)

 

DAVID SANDBERG

RED OAK PARTNERS, LLC

95 S. Federal Hwy, Suite 201

Boca Raton, FL 33432

(212) 614-8952

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

March 30, 2023

(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

 

 

_______________

1       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).

 

 

 1 
CUSIP No. 281479105

 


1

NAME OF REPORTING PERSONS

 

The Red Oak Fund, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

WC

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

 

- 0 -

8

SHARED VOTING POWER

 

6,057,244

9

SOLE DISPOSITIVE POWER

 

- 0 -

10

SHARED DISPOSITIVE POWER

 

6,057,244

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

6,057,244

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

5.3%

14

TYPE OF REPORTING PERSON

 

PN

 

 2 
CUSIP No. 281479105

 


1

NAME OF REPORTING PERSONS

 

The Red Oak Long Fund, L.P.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

WC

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

 

- 0 -

8

SHARED VOTING POWER

 

3,895,431

9

SOLE DISPOSITIVE POWER

 

- 0 -

10

SHARED DISPOSITIVE POWER

 

3,895,431

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,895,431

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.4%

14

TYPE OF REPORTING PERSON

 

PN

 

 3 
CUSIP No. 281479105

 


1

NAME OF REPORTING PERSONS

 

Red Oak Partners, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

FLORIDA

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

 

- 0 -

8

SHARED VOTING POWER

 

9,952,675

9

SOLE DISPOSITIVE POWER

 

- 0 -

10

SHARED DISPOSITIVE POWER

 

9,952,675

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

9,952,675

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.7%

14

TYPE OF REPORTING PERSON

 

OO

 

 4 
CUSIP No. 281479105

 


1

NAME OF REPORTING PERSONS

 

David Sandberg

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

USA

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

 

- 0 -

8

SHARED VOTING POWER

 

9,952,675

9

SOLE DISPOSITIVE POWER

 

- 0 -

10

SHARED DISPOSITIVE POWER

 

9,952,675

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

9,952,675

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.7%

14

TYPE OF REPORTING PERSON

 

IN

 

 5 
CUSIP No. 281479105

 

The following constitutes Amendment No. 2 to the Schedule 13G filed by the undersigned (“Amendment No. 2”). This Amendment No. 2 amends the Schedule 13G, as amended by amendment 1 as specifically set forth herein.

 

Item 1.Security and Issuer.

 

This statement on Schedule 13D (this “Statement”) relates to the common stock (“Common Stock”), of Gee Group Inc. (the “Issuer”), with its principal executive offices located at 7751 Belfort Parkway, Suite 150, Jacksonville, FL 32256.

 

Item 2.Identity and Background.

 

(a)-(c) and (f) The names of the persons filing this Statement (the “Reporting Persons”) are:

 

The Red Oak Fund, LP, a Delaware limited partnership (“Red Oak Fund”);

 

The Red Oak Long Fund, LP, a Delaware limited partnership (“Red Oak Long Fund”);

 

Red Oak Partners, LLC, a Florida limited liability company (“Red Oak Partners”); and

 

David Sandberg, a United States citizen.

 

This Statement is being filed by David Sandberg, the controlling member of Red Oak Partners, which manages each of Red Oak Fund and Red Oak Long Fund (each a “Fund” and, collectively, the “Funds”). The Funds are private investment vehicles formed for the purpose of investing and trading in a wide variety of securities and financial instruments. The Funds directly own the shares as reported in this Statement.  Each of the filers hereto disclaims beneficial ownership with respect to any shares other than shares owned directly by such filer.

 

The principal office or business address of the Funds, Red Oak Partners and David Sandberg is 95 S. Federal Hwy, Suite 201, Boca Raton, FL 33432.

 

(d)-(e) During the last five years, none of the Reporting Persons have been (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations 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.

 

The source of cash for securities purchased by the Funds was working capital and totaled $5,226,958.

 

 6 
CUSIP No. 281479105

 

Item 4.Purpose of Transaction.

 

The Shares acquired by the Reporting Persons have been acquired for the purpose of making an investment in the Issuer. The Reporting Persons intend to review its investment on a regular basis and, may at any time or from time to time determine, either alone or as part of a group, (a) to acquire additional securities of the Issuer, through open market purchases, privately negotiated transactions or otherwise, (b) to dispose of all or a portion of the securities owned of the Issuer in the open market, in privately negotiated transactions or otherwise, or (c) to take any other available course of action, which could involve one or more types of transactions or have one or more of the results described in this paragraph. Any such acquisition or disposition or other transaction would be made in compliance with all applicable laws and regulations. Notwithstanding anything contained herein, each of the Reporting Persons specifically reserves the right to change its intention with respect to any or all of such matters. In reaching any decision as to its course of action (as well as to the specific elements thereof), each of the Reporting Persons expects that it would take into consideration a variety of factors, including, but not limited to, the following: the Issuer’s business and prospects; other developments concerning the Issuer and its businesses generally; other business opportunities available to the Reporting Persons; changes in law and government regulations; general economic conditions; and money and stock market conditions, including the market price of the securities of the Issuer. In addition, in connection with their review of their investment, the Reporting Persons may from time to time seek to engage in communications with one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer regarding the Issuer.

 

Other than as set forth in this Schedule 13D, the Reporting Persons have no present plans or proposals which relate to or would result in any of the matters set forth in clauses (a) through (c) of Item 4 of Schedule 13D.

 

Item 5.Interest in Securities of the Issuer.

 

(a)       The aggregate percentage of the Issuer’s outstanding shares of Common Stock reported owned by each Reporting Person is based on 114,450,455 shares of common stock outstanding at February 13, 2023, as reported by the Issuer on its Form 10-Q, filed with the United States Securities and Exchange Commission on February 14, 2023. Each Reporting Person disclaims beneficial ownership with respect to any shares of Common Stock other than the shares owned directly and of record by such Reporting Person.

 

Red Oak Partners beneficially owns 9,952,675 shares of Common Stock, representing 8.7% of all the outstanding shares of Common Stock. The Funds are each controlled by Red Oak Partners. Therefore, Red Oak Partners may be deemed to beneficially own (i) the 6,057,244 shares of Common Stock held by the Red Oak Fund, and (ii) the 3,895,431 shares of Common Stock held by the Red Oak Long Fund.

 

Mr. Sandberg, as the managing member of Red Oak Partners may be deemed to beneficially own the 9,952,675 shares of Common Stock beneficially owned by Red Oak Partners through the Funds, representing 8.7% of all the outstanding shares of Common Stock.

 

Red Oak Fund may be deemed to beneficially own 6,057,244 shares of Common Stock, representing 5.3% of all the outstanding shares of Common Stock. Red Oak Long Fund may be deemed to beneficially own 3,895,431 shares of Common Stock, representing 3.4% of all the outstanding shares of Common Stock.

 

(b)       Each of Red Oak Partners and Mr. Sandberg may be deemed to have shared voting and dispositive power with respect to (i) the 6,057,244 shares of Common Stock held by the Red Oak Fund, and (ii) the 3,895,431 shares of Common Stock held by the Red Oak Long Fund. No Fund shares with any other Fund voting or dispositive power with respect to the shares such Fund beneficially owns.

 

 7 
CUSIP No. 281479105

 

(c)       Transactions by the Reporting Persons effected in Common Stock that have taken place in the last sixty days are as follows:

 

Date   Fund Name  Action  Quantity  Average Price
              
 2/3/2023   RED OAK LONG FUND, LP  Buy  13,400  0.510
               
 2/6/2023   RED OAK LONG FUND, LP  Buy  700  0.510
               
 2/13/2023   RED OAK LONG FUND, LP  Buy  200  0.510
               
 2/14/2023   RED OAK LONG FUND, LP  Buy  13,396  0.510
               
 2/15/2023   THE RED OAK FUND LP  Buy  81,277  0.461
               
 2/15/2023   RED OAK LONG FUND, LP  Buy  111,900  0.461
               
 2/16/2023   THE RED OAK FUND LP  Buy  110,770  0.444
               
 2/16/2023   RED OAK LONG FUND, LP  Buy  70,434  0.444
               
 2/17/2023   THE RED OAK FUND LP  Buy  366,780  0.440
               
 2/17/2023   RED OAK LONG FUND, LP  Buy  233,220  0.440
               
 2/21/2023   THE RED OAK FUND LP  Buy  80,891  0.438
               
 2/21/2023   RED OAK LONG FUND, LP  Buy  51,436  0.438
               
 2/22/2023   THE RED OAK FUND LP  Buy  69,400  0.422
               
 2/22/2023   RED OAK LONG FUND, LP  Buy  44,129  0.422
               
 2/23/2023   THE RED OAK FUND LP  Buy  32,014  0.412
               
 2/23/2023   RED OAK LONG FUND, LP  Buy  20,357  0.412
               
 2/24/2023   THE RED OAK FUND LP  Buy  27,493  0.404
               
 2/24/2023   RED OAK LONG FUND, LP  Buy  17,482  0.404
               
 2/27/2023   THE RED OAK FUND LP  Buy  45,821  0.403
               
 2/27/2023   RED OAK LONG FUND, LP  Buy  29,135  0.403
               
 2/28/2023   THE RED OAK FUND LP  Buy  42,220  0.407
               
 2/28/2023   RED OAK LONG FUND, LP  Buy  26,846  0.407
               
 3/1/2023   THE RED OAK FUND LP  Buy  12,471  0.419
               
 3/1/2023   RED OAK LONG FUND, LP  Buy  7,930  0.419
               
 3/2/2023   THE RED OAK FUND LP  Buy  13,143  0.415
               
 3/2/2023   RED OAK LONG FUND, LP  Buy  8,357  0.415
               
 3/3/2023   THE RED OAK FUND LP  Buy  15,102  0.422

 

 8 
CUSIP No. 281479105

 

 3/3/2023   RED OAK LONG FUND, LP  Buy  9,602  0.422
               
 3/6/2023   THE RED OAK FUND LP  Buy  113,885  0.420
               
 3/6/2023   RED OAK LONG FUND, LP  Buy  72,415  0.420
               
 3/7/2023   THE RED OAK FUND LP  Buy  1,773  0.420
               
 3/7/2023   RED OAK LONG FUND, LP  Buy  1,128  0.420
               
 3/8/2023   THE RED OAK FUND LP  Buy  102,019  0.411
               
 3/8/2023   RED OAK LONG FUND, LP  Buy  64,870  0.411
               
 3/9/2023   THE RED OAK FUND LP  Buy  25,115  0.408
               
 3/9/2023   RED OAK LONG FUND, LP  Buy  15,970  0.408
               
 3/10/2023   THE RED OAK FUND LP  Buy  15,306  0.390
               
 3/10/2023   RED OAK LONG FUND, LP  Buy  9,732  0.390
               
 3/13/2023   THE RED OAK FUND LP  Buy  82,955  0.376
               
 3/13/2023   RED OAK LONG FUND, LP  Buy  52,748  0.376
               
 3/14/2023   THE RED OAK FUND LP  Buy  40,038  0.376
               
 3/14/2023   RED OAK LONG FUND, LP  Buy  25,458  0.376
               
 3/15/2023   THE RED OAK FUND LP  Buy  5,803  0.375
               
 3/15/2023   RED OAK LONG FUND, LP  Buy  3,690  0.375
               
 3/16/2023   THE RED OAK FUND LP  Buy  917  0.375
               
 3/16/2023   RED OAK LONG FUND, LP  Buy  583  0.375
               
 3/17/2023   THE RED OAK FUND LP  Buy  178,506  0.373
               
 3/17/2023   RED OAK LONG FUND, LP  Buy  113,504  0.373
               
 3/20/2023   THE RED OAK FUND LP  Buy  183,043  0.363
               
 3/20/2023   RED OAK LONG FUND, LP  Buy  116,389  0.363
               
 3/21/2023   THE RED OAK FUND LP  Buy  65,318  0.370
               
 3/21/2023   RED OAK LONG FUND, LP  Buy  41,533  0.370
               
 3/22/2023   THE RED OAK FUND LP  Buy  61  0.370

 

 9 
CUSIP No. 281479105

 

 3/22/2023   RED OAK LONG FUND, LP  Buy  39  0.370
               
 3/23/2023   THE RED OAK FUND LP  Buy  65,959  0.370
               
 3/23/2023   RED OAK LONG FUND, LP  Buy  41,941  0.370
               
 3/29/2023   THE RED OAK FUND LP  Buy  1,613  0.375
               
 3/29/2023   RED OAK LONG FUND, LP  Buy  1,026  0.375

 

(d)       Not applicable.

 

(e)       Not applicable.

 

Item 6.Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

The relationships between Mr. Sandberg, Red Oak Partners and the Funds are described above under Item 2.

 

Item 7.Material to be Filed as Exhibits.

 

Not applicable.

 

 10 
CUSIP No. 281479105

 

SIGNATURES

 

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: March 30, 2023

 

 

  RED OAK PARTNERS, LLC
   
  By:

/s/ David Sandberg

    Name: David Sandberg
    Title: Managing Member

 

 

  THE RED OAK FUND, L.P.
   
  By: RED OAK PARTNERS, LLC, its general partner
     
  By:

/s/ David Sandberg

    Name: David Sandberg
    Title: Managing Member

 

 

  THE RED OAK LONG FUND, L.P.
   
  By: RED OAK PARTNERS, LLC, its general partner
     
  By:

/s/ David Sandberg

    Name: David Sandberg
    Title: Managing Member

 

 

  By:

/s/ David Sandberg

    DAVID SANDBERG

 

 

11