The following constitutes Amendment No. 6 (“Amendment No. 6”) to the Schedule 13D filed by the undersigned. This Amendment No. 6 amends the Schedule 13D as specifically set forth.
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended and restated to read as follows:
The aggregate purchase price, including commissions, of the 762,884 Shares purchased by ESSF is $1,384,868 (including all brokers’ commissions). The Shares beneficially owned by ESSF were purchased with its working capital.
The aggregate purchase price, including commissions, of the 143,760 Shares purchased by Everest Fund is $292,935 (including all brokers’ commissions). The Shares beneficially owned by Everest Fund were purchased with its working capital.
Item 5. | Interest in Securities of the Issuer. |
Item 5(a) is hereby amended and restated to read as follows:
(a) As of December 31, 2009, ESSF and Everest Fund beneficially owned 762,884 Shares and 143,760 Shares, respectively, which constitute approximately 10.2% and 1.9%, respectively, of the 7,491,190 outstanding Shares as of November 16, 2009 (based upon the number of Shares that were reported to be outstanding in the Issuer’s Definitive Proxy Statement filed with the Securities and Exchange Commission on November 18, 2009).
MEFM, by virtue of its status as the general partner of ESSF and Everest Fund, and Mr. Maoz, by virtue of his status as a controlling stockholder of MEFM, may be deemed to beneficially own the Shares held by ESSF and Everest Fund. Consequently, each of MEFM and Mr. Maoz may be deemed to beneficially own 906,644 Shares constituting approximately 12.1% of the outstanding Shares. MEFM and Elchanan Maoz disclaim beneficial ownership of such Shares except to the extent of their pecuniary interest therein.
Item 5(b) is hereby amended and restated to read as follows:
(b) On December 30, 2009, ESSF and Everest Fund entered into an agreement to sell all 906,644 Shares owned by them at $3.55 per share (the “Agreement”). The transaction is scheduled to close on January 15, 2010. There are no conditions to closing. By virtue of ESSF’s and Everest Fund’s irrevocable commitment to sell the Shares, each of ESSF, Everest Fund, MEFM and Mr. Maoz may be deemed to have shared power to vote and dispose of the Shares reported in this Amendment No. 6.
Item 5(c) is hereby amended and restated to read as follows:
(c) Schedule A attached hereto sets forth the transactions in the Shares by the Reporting Persons during the past 60 days. Unless otherwise noted, all such transactions were effected in the open market.
Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect toSecurities of the Issuer. |
Item 6 is hereby amended to add the following:
The information set forth in Item 5(b) hereof is incorporated herein by reference.
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: January 4, 2010 | EVEREST SPECIAL SITUATIONS FUND L.P. |
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| By: | Maoz Everest Fund Management Ltd., General Partner |
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| By: | |
| | Elchanan Maoz, Chairman and Chief Executive Officer |
| EVEREST FUND, L.P. |
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| By: | Maoz Everest Fund Management Ltd., General Partner |
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| By: | |
| | Elchanan Maoz, Chairman and Chief Executive Officer |
| MAOZ EVEREST FUND MANAGEMENT LTD. |
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| By: | |
| | Elchanan Maoz, Chairman and Chief Executive Officer |
SCHEDULE A
Transactions in the Shares During the Past 60 Days
Shares of Common Stock Purchased/(Sold) | Price Per Share($) | Date of Purchase/Sale |
EVEREST SPECIAL SITUATIONS FUND L.P.
1,000 | | $2.10 | 12/18/09 |
5,500 | | $2.20 | 12/01/09 |
500 | | $2.26 | 11/30/09 |
500 | | $2.20 | 11/25/09 |
3,300 | | $2.02 | 11/23/09 |
5,000 | | $2.08 | 11/23/09 |
2,490 | | $2.17 | 11/12/09 |
500 | | $2.10 | 11/09/09 |
EVEREST FUND, L.P.
None
MAOZ EVEREST FUND MANAGEMENT LTD.
None
ELCHANAN MAOZ
None