Schedule 13G, Amendment No. 1 — Crossroads Systems, Inc., Common Stock (December 31, 2017)

Summary

This Schedule 13G, Amendment No. 1, concerns the common stock ($.001 par value) of Crossroads Systems, Inc., with December 31, 2017 as the date of the event requiring the filing. The reporting persons include CF DB EZ LLC, Drawbridge Special Opportunities Fund LP, FIG LLC and Fortress Investment Group LLC, all organized under the laws of the State of Delaware. Each reporting person reports 0 shares beneficially owned and 0% of the class, with no sole or shared voting or dispositive power. The filing states that Drawbridge Special Opportunities Fund LP owns 95% of the membership interest of CF DB EZ LLC. It is dated February 13, 2018 and signed /s/ by Constantine M. Dakolias, President, and David N. Brooks, General Counsel or Secretary, for the various entities.

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SC 13G/A 1 sc13g_a1.htm SCHEDULE 13G, AMENDMENT NO. 1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

CROSSROADS SYSTEMS, INC.
(Name of Issuer)
Common Stock, $.001 par value
(Title of Class of Securities)
22765D209
(CUSIP Number)
December 31, 2017
(Date of Event which Requires Filing of this Statement)

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

☐ | 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 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).

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
CF DB EZ LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

2

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Drawbridge Special Opportunities Fund LP
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
PN

3

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Drawbridge Special Opportunities GP LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

4

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Fortress Principal Investment Holdings IV LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

5

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Drawbridge Special Opportunities Advisors LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

6

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
FIG LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

7

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Fortress Operating Entity I LP
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
PN

8

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
FIG Corp.
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
CO

9

CUSIP No. 22765D209
1 | NAMES OF REPORTING PERSONS
Fortress Investment Group LLC
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) ☐
(b) ☐
3 | SEC USE ONLY
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0
6 | SHARED VOTING POWER
0
7 | SOLE DISPOSITIVE POWER
0
8 | SHARED DISPOSITIVE POWER
0
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
☐
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0%
12 | TYPE OF REPORTING PERSON (See Instructions)
OO

10

Item 1. | (a) | Name of Issuer:
Crossroads Systems, Inc. (the “Issuer”)
(b) | Address of Issuer's Principal Executive Offices:
The Issuer’s principal executive offices are located at 11000 North Mopac Expressway, Austin, Texas 78759
Item 2. | (a) | Name of Person Filing:
(i) CF DB EZ LLC, a Delaware limited liability company; (ii) Drawbridge Special Opportunities Fund LP, a Delaware limited partnership, owns 95% of the membership interest of CF DB EZ LLC; (iii) Drawbridge Special Opportunities GP LLC, a Delaware limited liability company, is the general partner of Drawbridge Special Opportunities Fund LP; (iv) Fortress Principal Investment Holdings IV LLC, a Delaware limited liability company, is the managing member of Drawbridge Special Opportunities GP LLC; (v) Drawbridge Special Opportunities Advisors LLC, a Delaware limited liability company, is the investment manager of Drawbridge Special Opportunities Fund LP; (vi) FIG LLC, a Delaware limited liability company, the sole managing member of Drawbridge Special Opportunities Advisors LLC; (vii) Fortress Operating Entity I LP, a Delaware limited partnership, is the sole managing member of FIG LLC and Fortress Principal Investment Holdings IV LLC; (viii) FIG Corp., a Delaware corporation, is the general partner of Fortress Operating Entity I LP; and (ix) Fortress Investment Group LLC, a Delaware limited liability company, is the holder of all of the issued and outstanding shares of FIG Corp. The foregoing entities are collectively referred to as the “Reporting Persons.” Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.
(b) | Address of Principal Business Office or, if None, Residence:
The address of the business office of each of the Reporting Persons is c/o Fortress Investment Group LLC, 1345 Avenue of the Americas, 46th Floor, New York, New York 10105, Attention: Chief Compliance Officer.
(c) | Citizenship:
Each of CF DB EZ LLC, Drawbridge Special Opportunities GP LLC, Fortress Principal Investment Holdings IV LLC, Drawbridge Special Opportunities Advisors LLC, FIG LLC, and Fortress Investment Group LLC is a limited liability company organized under the laws of the State of Delaware. Each of Drawbridge Special Opportunities Fund LP and Fortress Operating Entity I LP is limited partnership organized under the laws of the State of Delaware. FIG Corp. is a corporation organized under the laws of the State of Delaware.
(d) | Title of Class of Securities:
Common Stock, $.001 par value
(e) | CUSIP NUMBER:
22765D209

11

Item 3. | If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:
(a) | ☐ | Broker or dealer registered under Section 15 of the Exchange Act.
(b) | ☐ | Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) | ☐ | Insurance company as defined in Section 3(a)(19) of the Exchange Act.
(d) | ☐ | Investment company registered under Section 8 of the Investment Company Act of 1940.
(e) | ☐ | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) | ☐ | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
(g) | ☐ | A parent holding company or control person in accordance with Rule 13d-l(b)(l)(ii)(G);
(h) | ☐ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;
(i) | ☐ | 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;
(j) | ☐ | A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
(k) | ☐ | Group, in accordance with Rule 13d-l(b)(l)(ii)(K).
Item 4. | Ownership .
(i) | CF DB EZ LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0%
(c)(i) Sole power to vote or direct the vote: -0-
(c)(ii) Shared power to vote or direct the vote: -0-
(c)(iii) Sole power to dispose or direct the disposition: -0-
(c)(iv) Shared power to dispose or direct the disposition: -0-
(ii) | Drawbridge Special Opportunities Fund LP
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(iii) | Drawbridge Special Opportunities GP LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(iv) | Fortress Principal Investment Holdings IV LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-

12

(v) | Drawbridge Special Opportunities Advisors LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(vi) | FIG LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(vii) | Fortress Operating Entity I LP
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(viii) | FIG Corp.
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
(ix) | Fortress Investment Group LLC
(a) Amount beneficially owned: -0- (b) Percent of class: 0% (c)(i) Sole power to vote or direct the vote: -0- (c)(ii) Shared power to vote or direct the vote: -0- (c)(iii) Sole power to dispose or direct the disposition: -0- (c)(iv) Shared power to dispose or direct the disposition: -0-
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: ☒
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 the Group.
Not applicable.
Item 9. | Notice of Dissolution of Group.
Not applicable.

13

Item 10. | Certifications.
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.

14

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: February 13, 2018

CF DB EZ LLC
By: | /s/ Constantine M. Dakolias
Name: | Constantine M. Dakolias
Title: | President
DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP
By: Drawbridge Special Opportunities GP LLC, its general partner
By: | /s/ Constantine M. Dakolias
Name: | Constantine M. Dakolias
Title: | President
DRAWBRIDGE SPECIAL OPPORTUNITIES GP LLC
By: | /s/ Constantine M. Dakolias
Name: | Constantine M. Dakolias
Title: | President
FORTRESS PRINCIPAL INVESTMENT HOLDINGS IV LLC
By: | /s/ David N. Brooks
Name: | David N. Brooks
Title: | General Counsel
DRAWBRIDGE SPECIAL OPPORTUNITIES ADVISORS LLC
By: | /s/ Constantine M. Dakolias
Name: | Constantine M. Dakolias
Title: | President

15

FIG LLC
By: | /s/ David N. Brooks
Name: | David N. Brooks
Title: | Secretary
FORTRESS OPERATING ENTITY I LP
By: FIG Corp., its general partner
By: | /s/ David N. Brooks
Name: | David N. Brooks
Title: | Secretary
FIG CORP.
By: | /s/ David N. Brooks
Name: | David N. Brooks
Title: | Secretary
FORTRESS INVESTMENT GROUP LLC
By: | /s/ David N. Brooks
Name: | David N. Brooks
Title: | Secretary

16

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