UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 12) ISCO International, Inc. (Name of Issuer) COMMON STOCK, par value $.001 (Title of Class of Securities) 452284102 (CUSIP Number) David J. Allen, Esquire 290 South County Farm Road, Third Floor Wheaton, Illinois 60187-4526 Telephone: (630) 588-7200 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 25, 2003 (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 Section 240.13d-l(e), 240.13d-l(f) or 240.13d-l(g), 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 Section 240.13d-7(b) 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). 2 Schedule 13D/A CUSIP No. 452284102 Page 2 of 6 Pages 1. Names of Reporting Person S.S. OR I.R.S. Identification No. of Above Persons Alexander Finance, LP 2. Check the Appropriate Box if a Member of a Group (See instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Source of Funds (See instructions) 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6. Citizenship or Place of Organization Illinois Limited Partnership 7 Sole Voting Power Number of 46,437,079 Shares Beneficially 8 Shared Voting Power Owned by 0 Each Reporting 9 Sole Dispositive Power Person 46,437,079 With 10 Shared Dispositive Power 0 11. Aggregate Amount Beneficially Owned by Each Reporting Person 46,437,079 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See instructions) [ ] 13. Percent of Class Represented by Amount in Row (11) 31.38% 14. Type of Reporting Person (See instructions) PN 3 Schedule 13D/A CUSIP No. 452284102 Page 3 of 6 Pages 1. Names of Reporting Person S.S. OR I.R.S. Identification No. of Above Persons Bun Partners, Inc. 2. Check the Appropriate Box if a Member of a Group (See instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Source of Funds (See instructions) 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6. Citizenship or Place of Organization Illinois Limited Partnership 7 Sole Voting Power Number of 46,437,079 Shares Beneficially 8 Shared Voting Power Owned by 0 Each Reporting 9 Sole Dispositive Power Person 43,437,079 With 10 Shared Dispositive Power 0 11. Aggregate Amount Beneficially Owned by Each Reporting Person 43,437,079 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See instructions) [ ] 13. Percent of Class Represented by Amount in Row (11) 31.38% 14. Type of Reporting Person (See instructions) CO 4 Schedule 13D/A CUSIP No. 452284102 Page 4 of 6 Pages 1. Names of Reporting Person S.S. OR I.R.S. Identification No. of Above Persons Spurgeon Corporation 2. Check the Appropriate Box if a Member of a Group (See instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Source of Funds (See instructions) 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] 6. Citizenship or Place of Organization Illinois Limited Partnership 7 Sole Voting Power Number of 46,437,079 Shares Beneficially 8 Shared Voting Power Owned by 0 Each Reporting 9 Sole Dispositive Power Person 46,437,079 With 10 Shared Dispositive Power 0 11. Aggregate Amount Beneficially Owned by Each Reporting Person 46,437,079 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See instructions) [ ] 13. Percent of Class Represented by Amount in Row (11) 31.38% 14. Type of Reporting Person (See instructions) CO 5 Schedule 13D/A CUSIP No. 452284102 Page 5 of 6 Pages The undersigned, Alexander Finance, L.P. ("Alexander") hereby amends its Schedule 13D as filed on November 12, 1999 and as previously amended (the "Schedule 13D") relating to the Common Stock of ISCO International, Inc. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meaning as set forth in the Schedule 13D. Except as set forth herein, the Schedule 13D, as previously amended, remains unchanged. Item 5. Interest in Securities of the Issuer Item 5 is amended as follows: a. Alexander, if it exercised its warrants, would beneficially own an aggregate of 46,437,079 shares of Common Stock, constituting 31.38% of all of the outstanding shares of Common Stock, assuming no other investor exercises any options or warrants, or converted notes held by such investor. Alexander currently holds the following securities of the Issuer: Warrants expiring on April 15, 2004 ($.20 strike price) presently exercisable for 4,381,000 shares of Common Stock; and 42,056,079 shares of Common Stock. c. The transactions effected by the Filer during the past sixty (60) days aare set forth on Schedule A. 6 Schedule 13D/A CUSIP No. 452284102 Page 6 of 6 Pages SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: August 1, 2003 Alexander Finance, LP By: /s/ Bradford T. Whitmore Name: Bradford T. Whitmore President: Bun Partners, Inc. Its: General Partner Bun Partners, Inc. By: /s/ Bradford T. Whitmore Name: Bradford T. Whitmore Its: President Spurgeon Corporation By: /s/ David J. Allen Name: David J. Allen Its: Vice President SCHEDULE A TRADE ACTIVITY FOR ISCO INTERNATIONAL, INC. EFFECTED BY ALEXANDER FINANCE, LP FOR THE PERIOD ENDING AUGUST 1, 2003. (ALL ACTIVITY WAS EXECUTED ON THE THIRD MARKET) Amount of Price per Date Security Shares Sold Share 07/24/2003 Common Stock 10,000 $.29 07/24/2003 Common Stock 580,000 $.30 07/24/2003 Common Stock 76,500 $.31 07/24/2003 Common Stock 77,700 $.32 07/25/2003 Common Stock 786,700 $.30 07/25/2003 Common Stock 35,700 $.31 07/28/2003 Common Stock 390,500 $.29 07/29/2003 Common Stock 143,400 $.25 07/29/2003 Common Stock 290,000 $.26 07/29/2003 Common Stock 125,000 $.27 07/29/2003 Common Stock 50,000 $.28 07/29/2003 Common Stock 200,000 $.29 07/29/2003 Common Stock 1,505,000 $.30 07/29/2003 Common Stock 5,000 $.31 07/29/2003 Common Stock 6,000 $.32 07/29/2003 Common Stock 800 $.33 07/30/2003 Common Stock 295,100 $.25 07/30/2003 Common Stock 201,900 $.26