-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O2V+zvB9a4rI32enXPvypcQJEMqNuQuSNV5XUjWFE4TKzaSy5OoVMZayQWLPFp+x qWFAQPaFXGPjtGVrmQSxgg== 0001019687-06-002043.txt : 20060828 0001019687-06-002043.hdr.sgml : 20060828 20060828090619 ACCESSION NUMBER: 0001019687-06-002043 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060828 DATE AS OF CHANGE: 20060828 GROUP MEMBERS: DAVID F. FIRESTONE GROUP MEMBERS: M.A.G. CAPITAL, LLC GROUP MEMBERS: MERCATOR MOMENTUM FUND III, L.P. GROUP MEMBERS: MERCATOR MOMENTUM FUND, L.P. GROUP MEMBERS: MONARCH POINTE FUND, LTD. GROUP MEMBERS: ROBINSON REED, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL CARD ESTABLISHMENT INC CENTRAL INDEX KEY: 0001156337 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 954581903 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-79143 FILM NUMBER: 061057247 BUSINESS ADDRESS: STREET 1: 300 ESPLANADE DRIVE STREET 2: SUITE 1950 CITY: OXNARD STATE: CA ZIP: 93030 BUSINESS PHONE: 800-400-0206 MAIL ADDRESS: STREET 1: 300 ESPLANADE DRIVE STREET 2: SUITE 1950 CITY: OXNARD STATE: CA ZIP: 93030 FORMER COMPANY: FORMER CONFORMED NAME: INETEVENTS INC DATE OF NAME CHANGE: 20010802 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: M.A.G. Capital, LLC CENTRAL INDEX KEY: 0001218181 IRS NUMBER: 300021359 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 555 S. FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 2135338288 MAIL ADDRESS: STREET 1: 555 SOUTH FLOWER ST. STREET 2: SUITE 4500 CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: MERCATOR ADVISORY GROUP LLC DATE OF NAME CHANGE: 20030210 SC 13G 1 mercator_13g-123105.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 3) INTERNATIONAL CARD ESTABLISHMENT, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 45923G 10 3 (CUSIP Number) December 31, 2005 (Date of Event Which Requires Filing of this Statement) [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) SCHEDULE 13G CUSIP No. 45923G 10 3 Page 2 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) Mercator Momentum Fund, L.P. EIN: 03-0021366 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization California - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,251,649 EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,251,649 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,251,649 - -------------------------------------------------------------------------------- 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) 9.99% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 3 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) Mercator Momentum Fund III, L.P. EIN: 32-0056070 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization California - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,241,649 EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,241,649 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,241,649 - -------------------------------------------------------------------------------- 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) 9.96% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 4 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) Robinson Reed, Inc. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization British Virgin Islands - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,241,649 EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,241,649 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,241,649 - -------------------------------------------------------------------------------- 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) 9.96% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 5 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) Monarch Pointe Fund, Ltd. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization British Virgin Islands - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,241,649 EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,241,649 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,241,649 - -------------------------------------------------------------------------------- 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) 9.96% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 3 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) M.A.G. Capital, LLC EIN: 30-0021359 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization California - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,251,649, all of which are held by Mercator Momentum Fund, L.P. and Mercator Momentum Fund III, L.P. (collectively, the "Funds"), Monarch Pointe Fund, Ltd. ("MPF"), Robinson Reed, Inc. ("Robinson Reed") and M.A.G. Capital, LLC ("MAG"). MAG is the general partner of the Funds and controls the investments of MPF and Robinson Reed. EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,251,649, all of which are held by the Funds, MPF, Robinson Reed and MAG. - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,251,649 - -------------------------------------------------------------------------------- 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) 9.99% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IA - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 7 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification Nos. of above persons (entities only) David F. Firestone - -------------------------------------------------------------------------------- 2. Check the Appropriate Box If a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization USA - -------------------------------------------------------------------------------- 5. Sole Voting Power NUMBER OF 0 SHARES ----------------------------------------------------------------- BENEFICIALLY 6. Shared Voting Power OWNED BY 3,251,649, all of which are held by the Funds, Robinson Reed, MPF and MAG. David F. Firestone is Managing Member of MAG. EACH ----------------------------------------------------------------- REPORTING 7. Sole Dispositive Power PERSON 0 WITH: ----------------------------------------------------------------- 8. Shared Dispositive Power 3,251,649, all of which are held by the Funds, Robinson Reed, MPF and MAG. David F. Firestone is Mananging Member of MAG. - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,251,649 - -------------------------------------------------------------------------------- 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) 9.99% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- SCHEDULE 13G CUSIP No. 45923G 10 3 Page 8 ITEM 1. ISSUER. (a) The name of the issuer is International Card Establishment, Inc. (the "Issuer"). (b) The address of the Issuer's principal executive office is 300 Esplanade Drive, Suite 1950, Oxnard, California 93030. ITEM 2. REPORTING PERSON AND SECURITY. (a) Mercator Momentum Fund, L.P. ("Momentum Fund") and Mercator Momentum Fund III, L.P. ("Momentum Fund III" and collectively with Momentum Fund, the "Funds") are private investment limited partnerships organized under California law. The general partner of each of the Funds is M.A.G. Capital, LLC ("MAG"), a California limited liability company. David F. Firestone is the Managing Member of MAG. Monarch Pointe Fund, Ltd. ("MPF") is a corporation organized under the laws of the British Virgin Islands. MAG controls the investments of MPF. Robinson Reed, Inc. ("Robinson Reed") is a corporation organized under the laws of the British Virgin Islands. MAG and Robinson Reed have entered into an agreement pursuant to which MAG controls the investments of Robinson Reed in the Issuer's securities. The Funds, Robinson Reed, MPF, MAG and David F. Firestone are referred to herein as the "Reporting Persons." (b) The business address of each of the Funds, MAG and David F. Firestone is 555 S. Flower Street, Suite 4200, Los Angeles, CA 90071. The business address of MPF is c/o Bank of Ireland Securities Services, Ltd., New Century House, International Financial Services Center, Mayor Street Lower, Dublin 1, Republic of Ireland. The business address of Robinson Reed is 4 Pikoni Street, P.O. Box 56220, 3305 Limassol, Cyprus. (c) Each of the Funds is a California limited partnership. MAG is a California limited liability company. MPF is a corporation organized under the laws of the British Virgin Islands. Robinson Reed is a corporation organized under the laws of the British Virgin Islands. (d) The title of the class of securities to which this statement relates is the common stock of the Issuer, par value $0.0005 per share (the "Common Stock"). (e) The CUSIP number is 45923G 10 3. SCHEDULE 13G CUSIP No. 45923G 10 3 Page 9 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 Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E). (f) [ ] An employee benefit plan or endowment fund in accordance with ss. 240.13d-1(b)(1)(ii)(F). (g) [ ] A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G). (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (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 (15 U.S.C. 80a-3). (j) [ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J). Not Applicable. ITEM 4. OWNERSHIP. The Funds, Robinson Reed, MPF and MAG each own warrants to purchase shares of Common Stock. The Funds, Robinson Reed and MPF each own shares of the Series A Preferred Stock ("Series A Shares") issued by the Issuer, which are convertible into Common Stock. Each Series A Share is convertible into the number of shares of Common Stock determined by dividing $100.00 by the Conversion Price at the time of conversion. The Conversion Price is defined as 85% of the Market Price, which is defined as the average of the lowest three intra-day trading prices of the Common Stock during the 15 trading days preceding the conversion; provided, however, that the Conversion Price originally could not be less than $0.375 (as adjusted from time to time, the "Floor Price") or more than $0.47, adjusted for stock splits and similar events. Upon the occurrence of any Event of Default, as defined in the documentation governing the terms of the Series A Shares, the Conversion Price will be reduced from 85% of the Market Price to 75% of the Market Price, but in no event lower than the Floor Price. On March 30, 2005, the Issuer entered into a Credit Agreement with MPF and the Funds. Pursuant to the Credit Agreement, on March 30, 2005, MPF issued a line of credit (the "Line of Credit"), the aggregate principal amount of which cannot exceed $2,000,000. The term of the Line of Credit is one year and the rate of interest on advances under the Line of Credit is 8.5% per annum. Each advance under the Line of Credit is to be evidenced by a promissory note (each, a "Credit Note"). In connection with the issuance of the Line of Credit, the documentation governing the terms of the Series A Shares was amended, and the Floor Price was reduced to $0.20 per share. SCHEDULE 13G CUSIP No. 45923G 10 3 Page 10 On December 21, 2005, the Issuer made a drawing on the Line of Credit and executed a Credit Note. In connection with the drawing, the documentation governing the terms of the Series A Shares was amended, and the Floor Price was reduced to $0.10 per share; provided, however, that prior to June 30, 2006, in the event that the Issuer terminates the Credit Agreement and pays in full any and all outstanding principal and interest due pursuant to any and all Credit Notes, the Floor Price shall equal $0.375 per share; provided further, that on or after June 30, 2006, upon payment in full of any and all outstanding principal and interest due pursuant to any and all Credit Notes, the Floor Price shall equal $0.375 per share. The documentation governing the terms of the warrants and the Series A Shares contains provisions prohibiting any exercise of the warrants or conversion of Series A Shares that would result in the Reporting Persons owning beneficially more than 9.99% of the outstanding shares of Common Stock as determined under Section 13(d) of the Securities Exchange Act of 1934. The Reporting Persons have never had beneficial ownership of more than 9.99% of the outstanding shares of Common Stock. As of December 31, 2005, the Reporting Persons owned the following securities of the Issuer: Momentum Fund owned 15,950 Series A Shares, 10,000 shares of Common Stock and warrants to purchase up to 1,996,246 shares of Common Stock. Momentum Fund III owned 11,050 Series A Shares and warrants to purchase up to 1,382,978 shares of Common Stock. Robinson Reed owned 5,000 Series A Shares and warrants to purchase up to 938,674 shares of Common Stock. MPF owned 30,000 Series A Shares and warrants to purchase up to 6,007,508 shares of Common Stock. MAG owned warrants to purchase up to 5,193,992 shares of Common Stock. David F. Firestone owned no securities of the Issuer directly. The right to vote and the right to dispose of the shares beneficially owned by Momentum Fund, Momentum Fund III, Robinson Reed and MPF are, in each case, shared among Momentum Fund, Momentum Fund III, Robinson Reed or MPF, as applicable, and both MAG and David F. Firestone. The right to vote and the right to dispose of the shares beneficially owned by MAG are shared by MAG and David F. Firestone. Assuming that the Issuer had 29,307,392 shares of Common Stock outstanding as of December 31, 2005, which is the number reported by the Issuer as outstanding as of November 11, 2005, in its Quarterly Report on Form 10-QSB/A (Amendment #1) for the quarter ending September 30, 2005, the individual Reporting Persons had, on December 31, 2005, beneficial ownership of the following numbers of shares of Common Stock which represented the following percentages of the Common Stock outstanding: SCHEDULE 13G CUSIP No. 45923G 10 3 Page 11 Shares Owned Percentage ------------ ---------- Momentum Fund 3,251,649 9.99% Momentum Fund III 3,241,649 9.96% Robinson Reed 3,241,649 9.96% MPF 3,241,649 9.96% MAG 3,251,649 9.99% David F. Firestone 3,251,649 9.99% The percentages of the outstanding Common Stock held by the Reporting Parties set forth above and on the cover pages to this report were determined using a Conversion Price of $0.125 with respect to the Series A Shares. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this Schedule 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 [__] Not Applicable. 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 OR CONTROL PERSON. Not Applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not Applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not Applicable. SCHEDULE 13G CUSIP No. 45923G 10 3 Page 12 ITEM 10. CERTIFICATIONS. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. 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: April 18, 2006 MERCATOR MOMENTUM FUND, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: April 18, 2006 MERCATOR MOMENTUM FUND III, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: April 18, 2006 MONARCH POINTE FUND, LTD. By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Director Dated: April 18, 2006 M.A.G. CAPITAL, LLC By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian, Portfolio Manager Dated: April 18, 2006 /s/ David F. Firestone ---------------------------------- David F. Firestone Dated: April 18, 2006 ROBINSON REED, INC. By: /s/ Harry Aharonian ---------------------------------- Harry Aharonian For: M.A.G. CAPITAL, LLC Its: Investment Manager SCHEDULE 13G CUSIP No. 45923G 10 3 Page 13 EXHIBIT INDEX Exhibit A Agreement of Joint Filing SCHEDULE 13G CUSIP No. 45923G 10 3 Page 14 EXHIBIT A --------- AGREEMENT OF JOINT FILING The undersigned hereby agree that they are filing jointly pursuant to Rule 13d-1 of the Securities Exchange Act of 1934 a report on Schedule 13G, containing the information required by Schedule 13G, for shares of the common stock of International Card Establishment, Inc., beneficially owned by Mercator Momentum Fund, L.P., Mercator Momentum Fund III, L.P., Robinson Reed, Inc., Monarch Pointe Fund, Ltd., M.A.G. Capital, LLC and David F. Firestone and such other holdings as may be reported therein. Dated: April 18, 2006 MERCATOR MOMENTUM FUND, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian -------------------------------------- Harry Aharonian, Portfolio Manager MERCATOR MOMENTUM FUND III, L.P. By: M.A.G. CAPITAL, LLC, its general partner By: /s/ Harry Aharonian -------------------------------------- Harry Aharonian, Portfolio Manager MONARCH POINTE FUND, LTD. By: /s/ Harry Aharonian -------------------------------------- Harry Aharonian, Director M.A.G. CAPITAL, LLC By: /s/ Harry Aharonian -------------------------------------- Harry Aharonian, Portfolio Manager /s/ David F. Firestone -------------------------------------- David F. Firestone ROBINSON REED, INC. By: /s/ Harry Aharonian -------------------------------------- Harry Aharonian For: M.A.G. CAPITAL, LLC Its: Investment Manager -----END PRIVACY-ENHANCED MESSAGE-----