================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Imaging Technologies Corp.
--------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.005 PAR VALUE
--------------------------------------------------------------------------------
(Title of Class of Securities)
45244U401
--------------------------------------------------------------------------------
(CUSIP Number)
*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).
(Continued on following page(s))
================================================================================
Page 1 of 4 Pages
----------------------------- ------------------------------
CUSIP No. 45244U401 13G/A Page 2 of 4 Pages
----------------------------- ------------------------------
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Balmore S.A.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
NUMBER OF 37,275,957 shares of Common Stock
SHARES --------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY None
EACH --------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON WITH 37,275,957 shares of Common Stock
--------------------------------------------------------
8. SHARED DISPOSITIVE POWER
None
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
37,275,957 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES |X|
The aggregate amount in Row 9 represents the maximum amount of shares
that Balmore S.A. can beneficially control under a contractually
stipulated 9.9% ownership restriction. The full conversion of
Balmore's Preferred Stock and Convertible Notes would exceed this
restriction.
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP NO. 45244U401 PAGE 3 OF 4 PAGES
--- ---
ITEM 1 (a) NAME OF ISSUER: Imaging Technologies Corp.
ITEM 1 (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
17075 Via Del Campo, San Diego, CA 92127
ITEM 2 (a) NAME OF PERSON FILING: Balmore S.A.
ITEM 2 (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Trident Chambers, Road Town, Tortola, B.V.I.
ITEM 2 (c) CITIZENSHIP: British Virgin Islands
ITEM 2 (d) TITLE OF CLASS OF SECURITIES: Common Stock, $0.005 par value
ITEM 2 (e) CUSIP NUMBER: 45244U401
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B) OR
13D-2(B): Not applicable
ITEM 4 OWNERSHIP
(a) AMOUNT BENEFICIALLY OWNED: 37,275,957 Shares of Common Stock
(b) PERCENT OF CLASS: 9.9%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR DIRECT THE VOTE
37,275,957 Common Shares
(ii) SHARED POWER TO VOTE OR DIRECT THE VOTE
0 Shares
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
37,275,957 Common Shares
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
0 Shares
CUSIP NO. 45244U401 PAGE 4 OF 4 PAGES
--- ---
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable
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
Not applicable
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP
Not applicable
ITEM 9 NOTICE OF DISSOLUTION OF GROUP
Not applicable
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.
February 1, 2004
----------------------------------------
(Date)
/s/ Francois Morax
----------------------------------------
(Signature)
Francois Morax, Director
----------------------------------------
(Name/Title)