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| CUSIP No. 523768109 | | SCHEDULE 13D | | Page 5 of 7 |
| Item 4. | Purpose of Transaction. |
The acquisitions of Common Shares by the Reporting Persons were made for investment purposes. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Common Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Common Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance, purchasing additional Common Shares, selling some or all of their Common Shares, engaging in short selling of or any hedging or similar transaction with respect to the Common Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.
| Item 5. | Interest in Securities of the Issuer. |
(a) Mr. Baird owns beneficially, and has the sole power to vote and dispose of, 2,909,068 Common Shares or approximately 4.98% of the outstanding Common Shares of the Company, based on 58,358,584 Common Shares outstanding as of July 31, 2020, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the Quarter ended June 28, 2020.
The transactions in Common Shares by Mr. Baird during the past sixty (60) days are as follows:
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Nature of Transaction | | No. of Common Shares
Purchased/(Sold) | | | Price Per Share ($) | |
Open market purchase – 8/17/20 | | | 8,880 | | | $ | 0.9800 | |
Open market purchase – 9/16/20 | | | 22,860 | | | $ | 0.8573 | |
Open market purchase – 9/17/20 | | | 25,000 | | | $ | 0.8859 | |
Open market purchase – 9/21/20 | | | 840 | | | $ | 0.8200 | |
Open market purchase – 10/2/20 | | | 2,049 | | | $ | 0.8784 | |
Open market purchase – 10/5/20 | | | 25,000 | | | $ | 0.9037 | |
Open market purchase – 10/7/20 | | | 100,000 | | | $ | 0.9068 | |
