UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
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Table Trac Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
87336P106
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(CUSIP Number)
April 28, 2010
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(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 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).
Page 1 of 10 pages
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CUSIP No. 87336P106 13G Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Doucet Capital, LLC 03-0600886
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not Applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 377,777
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
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PERSON 8 SHARED DISPOSITIVE POWER
WITH 377,777
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
Not Applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.07%
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12 TYPE OF REPORTING PERSON*
HC
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CUSIP No. 87336P106 13G Page 3 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Doucet Asset Management, LLC 03-0600882
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not Applicable
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 377,777
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 377,777
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
377,777
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
Not Applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.07%
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12 TYPE OF REPORTING PERSON*
IA
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CUSIP No. 87336P106 13G Page 4 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christopher L. Doucet
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not Applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 377,777
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 377,777
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
377,777
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
Not Applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.07%
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12 TYPE OF REPORTING PERSON*
IN
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CUSIP No. 87336P106 13G Page 5 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Suzette A. Doucet
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
Not Applicable
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 377,777
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 377,777
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
377,777
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
Not Applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.07%
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12 TYPE OF REPORTING PERSON*
IN
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Item 1(a) Name of Issuer:
Table Trac Inc
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Item 1(b) Address of Issuer's Principal Executive Offices:
15612 Highway 7, Suite 250
Minnetonka, MN 55345
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Item 2(a) Name of Person Filing:
Doucet Capital, LLC, sole owner of Doucet Asset Management, LLC
Doucet Asset Management, LLC
Christopher L. Doucet, managing member of Doucet Capital, LLC and
CEO and control person of Doucet Asset Management
Suzette A. Doucet, CFO and control person of Doucet Asset
Management, LLC
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Item 2(b) Address of Principal Business Office:
2204 Lakeshore Drive, Suite 425
Birmingham, Alabama 35209
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Item 2(c) Citizenship:
Doucet Capital, LLC and Doucet Assset Management, LLC are
Delaware companies. Christopher L. Doucet and Suzette A.
Doucet are U.S. Citizens.
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Item 2(d) Title of Class of Securities:
Common Stock
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Item 2(e) CUSIP Number:
87336P106
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Item 3 Type of Person:
(e) Doucet Asset Management, LLC is an Investment Adviser
registered under section 203 of the Investment Advisers Act
and has discretionary authority to purchase and sell the
stock and the power to vote the shares of stock,
Doucet Capital, LLC is the 100% owner of the Investment
Adviser, Christopher L. Doucet is CEO and a control person
of Doucet Capital, LLC and Doucet Asset Management, LLC,
and Suzette A. Doucet is a control person and CFO of Doucet
AssetManagement, LLC.
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Page 6 of 10 pages
Item 4 Ownership (at January 14, 2010):
(a) Amount owned "beneficially" within the meaning of rule
13d-3:
(i) Doucet Capital, LLC: 377,777
(ii) Doucet Asset Management, LLC: 377,777
(iii) Christopher L. Doucet: 377,777
(iv) Suzette A. Doucet: 377,777
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(b) Percent of class:
(i) Doucet Capital, LLC: 9.07%
(ii) Doucet Asset Management, LLC: 9.07%
(iii) Christopher L. Doucet: 9.07%
(iv) Suzette A. Doucet: 9.07%
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(c) Number of shares as to which such person has:
(1) sole power to vote or to direct the vote:
(i) Doucet Capital, LLC: 0
(ii) Doucet Asset Management, LLC: 0
(iii) Christopher L. Doucet: 0
(iv) Suzette A. Doucet: 0
(2) shared power to vote or to direct the vote:
(i) Doucet Capital, LLC: 377,777
(ii) Doucet Asset Management, LLC: 377,777
(iii) Christopher L. Doucet: 377,777
(iv) Suzette A. Doucet: 377,777
(3) sole power to dispose or to direct the disposition
of:
(i) Doucet Capital, LLC: 0
(ii) Doucet Asset Management, LLC: 0
(iii) Christopher L. Doucet: 0
(iv) Suzette A. Doucet: 0
(4) shared power to dispose or to direct disposition
of:
(i) Doucet Capital, LLC: 377,777
(ii) Doucet Asset Management, LLC: 377,777
(iii) Christopher L. Doucet: 377,777
(iv) Suzette A. Doucet: 377,777
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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 5% of the class of securities,
check the following [ ].
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Item 6 Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
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Page 7 of 13 Pages
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
Not Applicable
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Item 8 Identification and Classification of Members of the Group:
Not Applicable
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Item 9 Notice of Dissolution of Group:
Not Applicable
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Item 10 Certification:
Each of the Reporting Persons hereby makes the following
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.
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Page 8 of 10 Pages
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete andcorrect.
Date: April 28, 2010
DOUCET CAPITAL, LLC
/S/ Christopher L. Doucet
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Name: Christopher L. Doucet
Title: Managing Member
DOUCET ASSET MANAGEMENT, LLC
By: Doucet Capital, LLC,
its managing member
/S/ Christopher L. Doucet
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Name: Christopher L. Doucet
Title: Managing Member
CHRISTOPHER L. DOUCET
/S/ Christopher L. Doucet
--------------------------
Christopher L. Doucet, individually
SUZETTE A. DOUCET
/S/ Suzette A. Doucet
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Suzette A. Doucet, individually
Page 9 of 10 Pages
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
Date: April 28, 2010
DOUCET CAPITAL, LLC
/S/ Christopher L. Doucet
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Name: Christopher L. Doucet
Title: Managing Member
DOUCET ASSET MANAGEMENT, LLC
By: Doucet Capital, LLC,
its managing member
/S/ Christopher L. Doucet
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Name: Christopher L. Doucet
Title: Managing Member
CHRISTOPHER L. DOUCET
/S/ Christopher L. Doucet
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Christopher L. Doucet
SUZETTE A. DOUCET
/S/ Suzette A. Doucet
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Suzette A. Doucet
Page 10 of 10 Pages