mainbody.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
Under the
Securities Exchange Act of 1934
(Name of
Issuer)
COMMON
STOCK, $0.001 PER SHARE PAR VALUE
(Title of
Class of Securities)
(CUSIP
Number)
David
E. Sorensen
Community
Bancorp.
400
South 4th Street, Suite 215 , Las Vegas, NV 89101
(Name,
Address and Telephone Number of Person Authorized to
Receive
Notices and Communications)
(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 which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box
[ ].
Note.
Schedules filed in paper format shall include a signed original and five copies
of the schedule, including all exhibits. See Rule 13d-7 for other parties to
whom copies are to be sent.
* 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).
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1.
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Names
of Reporting Persons:
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David
E. Sorensen
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I.R.S.
Identification Nos. of above persons (entities only):
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2.
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Check
the Appropriate Box if a Member of a Group (See
Instructions)
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(a) [
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(b) [x]
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3.
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SEC
Use Only:
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4.
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Source
of Funds (See Instruction):
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PF,
WC
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5.
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Check
if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or
2(e): [ ]
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6.
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Citizenship
or Place of Organization:
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Nevada
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Number
of Shares Beneficially by Owned by Each Reporting Person
With:
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7.
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Sole
Voting Power:
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157,873
SHARES(1)
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8.
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Shared
Voting Power:
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378,085
SHARES(2)
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9.
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Sole
Dispositive Power:
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157,873
SHARES(1)
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10.
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Shared
Dispositive Power:
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378,085
SHARES(2)
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11.
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Aggregate
Amount Beneficially Owned by Each Reporting Person: 535,958
SHARES
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12.
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Check
if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): [
]
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13.
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Percent
of Class Represented by Amount in Row (11): 5.05%
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14.
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Type
of Reporting Person (See
Instructions): IN
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(1) Consists
of 11,358 shares held directly by the Reporting Person and 146,515 shares held
by the Reporting Person in his capacity as trustee of The David E. Sorensen 1995
Trust.
(2) Consists
of 153,085 shares held in joint tenancy between the Reporting Person and the
Reporting Person’s spouse, 215,000 shares held directly by the Reporting
Person’s spouse, and 10,000 held by Battle Mountain Specialty Insurance, Inc., a
Nevada corporation owned 45% by The David E. Sorensen 1995
Trust.
ITEM
1. SECURITY
AND ISSUER
This
Statement on Schedule 13D relates to the common stock, par value $0.001 per
share (the “Common Stock”), of Community Bancorp., a Nevada Corporation (the
"Issuer"), and is being filed by David E. Sorensen (the “Reporting
Person”). The Issuer's current principal executive offices are
located at 400 South 4th Street, Suite 215, Las Vegas, NV 89101.
ITEM
2. IDENTITY
AND BACKGROUND
(a)
through (c). This Statement is being filed by David E. Sorensen (the “Reporting
Person”). The address of the Report Person is 30582 Hunt Club Drive,
San Juan Capistrano, CA 92675. David E. Sorensen’s principal
occupation is an investor; he is currently a 5% shareholder of Community
Bancorp.
(d)
and (e). During the previous five (5) years, the Reporting Person (i) has not
been convicted in any criminal proceeding (excluding traffic violations or
similar misdemeanors) and (ii) has not been party to a civil proceeding of any
of a judicial or administrative body of competent jurisdiction such that, 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 activity
subject to, federal or state securities laws or finding any violation with
respect to such laws.
(f).
David E. Sorensen is a citizen of the United States.
ITEM
3. SOURCE
AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The
535,958 shares of Common Stock in the Issuer to which this statement relates
were purchased as follows: (i) by the Reporting Person and his spouse with their
personal funds, (ii) by the working capital of The David E. Sorensen 1995 Trust,
and (iii) by the working capital of Battle Mountain Specialty Insurance, Inc., a
company owned 45% by The David E. Sorensen 1995 Trust. The total
amount of funds that were used to purchase the shares is not available since the
shares of Common Stock were acquired over a number of years from various
sources.
ITEM
4. PURPOSE
OF TRANSACTION
The
purpose of this Schedule 13D is to report the Beneficial Ownership by the
Reporting Person of 535,598 shares or 5.05% of the Issuer’s issued and
outstanding Common Stock as of September 30, 2008.
The
Reporting Person currently holds the shares of Common Stock for investment
purposes. However, the Reporting Person intends to closely monitor the Issuer’s
performance and may modify his plans in the future depending on the Reporting
Persons’ evaluation of various factors, including the investment potential of
the Common Stock, the Issuer’s business prospects and financial position, other
developments concerning the Issuer and its competitors, opportunities that may
be available to the Issuer, the price level and availability of the Common
Stock, available opportunities to acquire or dispose of the Common Stock,
realize trading profits or minimize trading losses, conditions in the securities
markets and general economic and industry conditions, reinvestment
opportunities, developments relating to the business of the Reporting Person and
other factors deemed relevant by the Reporting Person. In connection
with the activities described above, the Reporting Persons may communicate with,
and express his views to, other persons regarding the Issuer, including, without
limitation, the board of directors and management of the Issuer, other
shareholders of the Issuer and potential strategic or financing
partners.
The
Reporting Person may in the future exercise any and all of his respective rights
as shareholder of the Issuer in a manner consistent with his equity
interests. Depending on his evaluation of the factors listed above,
the Reporting Person may take such actions with respect to his holdings in the
Issuer as he deems appropriate in light of circumstances existing from time to
time. Such actions may involve one or more of the events referred to in
paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D.
While the
Reporting Person believes it is likely that he will acquire additional shares in
the future (though there is no current plan with respect to the number of such
shares, nor the timing of additional acquisitions), as of the date of this
Schedule 13D, except as set forth above, the Reporting Person has no present
plan or intention which would result in or relate to any of the events referred
to in subparagraphs (a) through (j), inclusive, of Item 4 of Schedule
13D.
ITEM
5. INTEREST
IN SECURITIES OF THE ISSUER
The
Reporting Person is currently the beneficial owner of 535,598 shares of Common
Stock of the Issuer, representing approximately 5.05% of the Issuer's Common
Stock (based upon 10,602,990 outstanding shares of common stock as of September
30, 2008.)
The
Reporting Person has sole voting and dispositive power over 157,873 shares of
Common Stock identified in response to Item 5(a) above in his individual
capacity and as trustee of The David E. Sorensen 1995 Trust.
The
Reporting Person has shared voting and dispositive power over 378,085 shares of
Common Stock identified in response to Item 5(a) above. The 378,085
shares of Common Stock consist of 153,085 shares of Common Stock held in joint
tenancy between the Reporting Person and Verla A. Sorensen, 215,000 shares held
directly by Verla A. Sorensen, and 10,000 held by Battle Mountain Specialty
Insurance, Inc., a Nevada corporation owned 45% by The David E. Sorensen 1995
Trust.
Verla
A. Sorensen
Verla A.
Sorensen’s principal occupation is an investor. She is a citizen of
the United States and resides at 30582 Hunt Club Drive, San Juan Capistrano, CA
92675. During the previous five (5) years, Verla A. Sorenson (i) has
not been convicted in any criminal proceeding (excluding traffic violations or
similar misdemeanors) and (ii) has not been party to a civil proceeding of any
of a judicial or administrative body of competent jurisdiction such that, 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 activity
subject to, federal or state securities laws or finding any violation with
respect to such laws.
Battle
Mountain Specialty Insurance, Inc.
Battle
Mountain Specialty Insurance, Inc. is a Nevada corporation with a principal
address at 3 Monarch Bay Plaza, Suite 203, Dana Point, CA
92629. During the previous five (5) years, the company (i) has not
been convicted in any criminal proceeding (excluding traffic violations or
similar misdemeanors) and (ii) has not been party to a civil proceeding of any
of a judicial or administrative body of competent jurisdiction such that, 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 activity
subject to, federal or state securities laws or finding any violation with
respect to such laws.
The table
attached hereto sets forth the purchases of the shares of Common Stock in the
Issuer by the Reporting Person during the last 60 days.
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ITEM
6.
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CONTRACTS,
ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES
OF THE ISSUER.
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The
Reporting Person currently has no contracts, arrangements, understandings or
relationships with any other person with respect to any securities of the
Issuer. However, the children of David and Verla Sorensen, who
include Stephen Sorensen, Greg Sorensen, John Sorensen, Sheila Smith, Kristen
Sorensen, Paul Sorensen and Kathryn Olsen (either individually, with their
spouse(s), or in entities under their respective control) all own securities of
the Issuer, or may acquire securities of the Issuer in the future. It
is the Reporting Persons’ assumption that, if they were to request or advise any
or all of the foregoing persons to vote their shares in a particular manner, or
to vote in favor of (or against) any particular matter, that their children
would very likely follow that advice or request.
ITEM
7. MATERIAL
TO BE FILED AS EXHIBITS.
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: January
7, 2009
By: /s/ David E.
Sorensen
David E.
Sorensen