-----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, CjmGWZUog9kteIPyO8wGFibkNanv7UQ2hwgCDoWbf2nsspFkXbS/DB56LbfxgCuI t+E3hQhqgIrnj8sqX2ffzw== 0000950123-11-010548.txt : 20110209 0000950123-11-010548.hdr.sgml : 20110209 20110209060113 ACCESSION NUMBER: 0000950123-11-010548 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20110209 DATE AS OF CHANGE: 20110209 GROUP MEMBERS: PHIL FROHLICH GROUP MEMBERS: PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P. GROUP MEMBERS: PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P. GROUP MEMBERS: PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRESCOTT GROUP CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001166152 IRS NUMBER: 731554000 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1924 S UTICA SUITEF 1120 CITY: TULSA STATE: OK ZIP: 74104 BUSINESS PHONE: 9187473412 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MRV COMMUNICATIONS INC CENTRAL INDEX KEY: 0000887969 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 061340090 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46649 FILM NUMBER: 11584320 BUSINESS ADDRESS: STREET 1: 20415 NORDHOFF ST CITY: CHATSWORTH STATE: CA ZIP: 91311 BUSINESS PHONE: 8187730900 MAIL ADDRESS: STREET 1: 20415 NORDHOFF ST CITY: CHATSWORTH STATE: CA ZIP: 91311 SC 13D/A 1 c12083sc13dza.htm SC 13D/A SC 13D/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 1 )*

MRV Communications, Inc.
(Name of Issuer)
Common stock, $0.0017 par value
(Title of Class of Securities)
553477100
(CUSIP Number)
Phil Frohlich
1924 South Utica, Suite #1120
Tulsa, Oklahoma 74104-6429
(918) 747-3412
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

- with copies to -

Eliot D. Raffkind
Akin, Gump, Strauss, Hauer & Feld, L.L.P.
1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201-4618
(214) 969-2800
March 19, 2010
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 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).

 
 


 

                     
CUSIP No.
 
553477100 
 

 

           
1   NAMES OF REPORTING PERSONS

PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Oklahoma
       
  7   SOLE VOTING POWER
     
NUMBER OF   3,902,178
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   3,902,178
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,902,178
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  2.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IA

Page 2 of 14


 

                     
CUSIP No.
 
553477100 
 

 

           
1   NAMES OF REPORTING PERSONS

PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Oklahoma
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   3,902,178
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    3,902,178
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,902,178
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  2.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 3 of 14


 

                     
CUSIP No.
 
553477100 
 

 

           
1   NAMES OF REPORTING PERSONS

PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Oklahoma
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   3,902,178
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    3,902,178
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,902,178
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  2.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 4 of 14


 

                     
CUSIP No.
 
553477100 
 

 

           
1   NAMES OF REPORTING PERSONS

PHIL FROHLICH
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  U.S. CITIZEN
       
  7   SOLE VOTING POWER
     
NUMBER OF   3,902,178
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   3,902,178
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,902,178
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  2.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

Page 5 of 14


 

SCHEDULE 13D
This Amendment No. 1 to the Schedule 13D filed on July 13, 2009 (this “Amendment”) is being filed on behalf of Prescott Group Capital Management, L.L.C., an Oklahoma limited liability company (“Prescott Capital”), Prescott Group Aggressive Small Cap, L.P., an Oklahoma limited partnership (“Prescott Small Cap”), Prescott Group Aggressive Small Cap II, L.P., an Oklahoma limited partnership (“Prescott Small Cap II” and, together with Prescott Small Cap, the “Small Cap Funds”) and Mr. Phil Frohlich, the principal of Prescott Capital, relating to shares of Common stock, $0.0017 par value (the “Common Stock”), of MRV Communications, Inc., a Delaware corporation (the “Issuer”).
This Schedule 13D relates to shares of Common Stock of the Issuer purchased by the Small Cap Funds through the account of Prescott Group Aggressive Small Cap Master Fund, G.P., an Oklahoma general partnership (“Prescott Master Fund”), of which the Small Cap Funds are the general partners. Prescott Capital serves as the general partner of the Small Cap Funds and may direct the Small Cap Funds, the general partners of Prescott Master Fund, to direct the vote and disposition of the 3,902,178 shares of Common Stock held by the Prescott Master Fund. As the principal of Prescott Capital, Mr. Frohlich may direct the vote and disposition of the 3,902,178 shares of Common Stock held by Prescott Master Fund.
Item 1.  
Security and Issuer
 
Securities acquired: Common stock, $0.0017 par value (the “Common Stock”).
  Issuer:   MRV Communications, Inc.
20415 Nordhoff Street
Chatsworth, CA 91311
Item 2.  
Identity and Background
(a) This Schedule 13D is jointly filed by Prescott Capital, Prescott Small Cap, Prescott Small Cap II and Phil Frohlich. Because Phil Frohlich is the managing member of Prescott Capital, which is the general partner of the Small Cap Funds (with Phil Frohlich and Prescott Capital hereinafter referred to as the “Controlling Persons”), the Controlling Persons may be deemed, pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the “Act”), to be the beneficial owners of all of the shares of Common Stock held by the Small Cap Funds. The Reporting Persons (as hereinafter defined) are filing this Schedule 13D jointly, as they may be considered a “group” under Section 13(d)(3) of the Act. However, neither the fact of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Persons that such a group exists.
(b) The principal place of business for each of the Reporting Persons is 1924 South Utica, Suite #1120, Tulsa, Oklahoma, 74104.
(c) The principal occupation of Phil Frohlich is serving as the managing member of Prescott Capital. The principal business of Prescott Capital is acting as the general partner of the Small Cap Funds. The principal business of the Small Cap Funds is investing in securities.

 

Page 6 of 14


 

(d) During the last five years, none of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, none of the Reporting Persons have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Prescott Capital and the Small Cap Funds are organized under the laws of the State of Oklahoma. Mr. Frohlich is a citizen of the United States of America.
Item 3.  
Source and Amount of Funds
As of February 9, 2011, the Small Cap Funds had invested $1,629,512 (inclusive of brokerage commissions) in shares of Common Stock of the Issuer. The source of these funds was the working capital of the Small Cap Funds.
Item 4.  
Purpose of the Transaction
The Small Cap Funds (together with Phil Frohlich and Prescott Capital, the “Reporting Persons”) purchased the Common Stock based on the belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Although the Reporting Persons have no specific plan or proposal to acquire or dispose of the Common Stock, consistent with their investment purpose, the Reporting Persons at any time and from time to time may acquire additional Common Stock or dispose of any or all of their Common Stock depending upon an ongoing evaluation of the investment in the Common Stock, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Persons and/or other investment considerations.
The purpose of the acquisition of the Common Stock was for investment, and the acquisitions of the Common Stock were made in the ordinary course of business and were not made for the purpose of acquiring control of the Issuer.
Also, consistent with the investment purpose, the Reporting Persons may engage in communications with one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer and/or one or more representatives or regulators of the Issuer regarding the Issuer, including, but not limited to, its operations. The Reporting Persons may discuss ideas that, if effected, may result in any of the following: the acquisition by persons of additional Common Stock of the Issuer, an extraordinary corporate transaction involving the Issuer and/or changes in the board of directors or management of the Issuer.
Except to the extent the foregoing may be deemed a plan or proposal, the Reporting Persons have no plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of the Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto.

 

Page 7 of 14


 

Item 5.  
Interest in Securities of the Issuer
(a) The aggregate percentage of shares of Common Stock reported to be owned by the Reporting Persons is based upon 156,891,383 shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as of November 5, 2010 pursuant to the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 9, 2010.
As of February 9, 2011, the Small Cap Funds beneficially owned 3,902,178 shares of Common Stock, representing approximately 2.5% of the issued and outstanding Common Stock of the Issuer.
Prescott Capital, as the general partner, of the Small Cap Funds may also be deemed to beneficially own the 3,902,178 shares of Common Stock held by the Small Cap Funds, representing approximately 2.5% of the issued and outstanding Common Stock of the Issuer.
In addition, Phil Frohlich, as managing member of Prescott Capital, the general partner of the Small Cap Funds, may also be deemed to beneficially own the 3,902,178 shares of Common Stock beneficially owned by the Small Cap Funds, representing approximately 2.5% of the issued and outstanding Common Stock of the Issuer.
Prescott Capital and Mr. Frohlich disclaim beneficial ownership of the shares of Common Stock held by the Small Cap Funds except to the extent of their pecuniary interest therein.
(b) By virtue of his position with Prescott Capital and the Small Cap Funds, Phil Frohlich has the sole power to vote and dispose of the shares of Common Stock owned by the Small Cap Funds reported in this Schedule 13D.
The filing of this statement on Schedule 13D shall not be construed as admission that Prescott Capital or Mr. Frohlich is for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any of the 3,902,178 shares of Common Stock owned by the Small Cap Funds. Pursuant to Rule 13d-4, Prescott Capital and Mr. Frohlich disclaim all such beneficial ownership.
(c) Annex A attached hereto lists all transactions in the Common Stock during the sixty (60) days from the date of the event which requires the filing of this Amendment by the Reporting Persons. The transactions in the Common Stock were effected in the open market.
(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock.
(e) As of March 19, 2010, the Reporting Persons ceased to be the beneficial owner of five percent (5%) or more of the Common Stock of the Issuer.

 

Page 8 of 14


 

Item 6.  
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.
Item 7.  
Material to be Filed as Exhibits
Exhibit 1   
Joint Filing Agreement by and among Prescott Group Capital Management, L.L.C., Prescott Group Aggressive Small Cap, L.P., Prescott Group Aggressive Small Cap II, L.P. and Phil Frohlich dated February 9, 2011.

 

Page 9 of 14


 

Signatures
After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: February 9, 2011
         
  Prescott Group Capital Management, L.L.C.
 
 
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
 
         
  Prescott Group Aggressive Small Cap, L.P.
 
 
  By:   Prescott Group Capital Management,    
  L.L.C., its general partner   
         
     
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
         
  Prescott Group Aggressive Small Cap II, L.P.
 
 
  By:   Prescott Group Capital Management,    
  L.L.C., its general partner   
         
     
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
 
         
  Phil Frohlich
 
 
  By:   /s/ Phil Frohlich    
    Phil Frohlich   
       
 

 

Page 10 of 14

EX-99.1 2 c12083exv99w1.htm EXHIBIT 1 Exhibit 1
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) (1) (iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D dated July 13, 2009 (including amendments thereto) with respect to the Common stock, $0.0017 par value, of MRV Communications, Inc. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.
Dated: February 9, 2011
         
  Prescott Group Capital Management, L.L.C.
 
 
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
       
  Prescott Group Aggressive Small Cap, L.P.

By: Prescott Group Capital Management, L.L.C., its general partner
 
 
     
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
       
  Prescott Group Aggressive Small Cap II, L.P.

By: Prescott Group Capital Management, L.L.C., its general partner
 
 
     
  By:   /s/ Phil Frohlich    
    Phil Frohlich, Managing Member   
       
  Phil Frohlich
 
 
  By:   /s/ Phil Frohlich    
    Phil Frohlich   
       
 

 

Page 11 of 14


 

ANNEX A
                         
Date   Shares Purchased/ (Sold)     Price Per Share     Total Cost  
3/10/2010
    (4500 )   $ 1.09     $ 4897  
3/10/2010
    (2120 )   $ 1.10     $ 2324  
3/10/2010
    (4380 )   $ 1.09     $ 4774  
3/11/2010
    (5000 )   $ 1.09     $ 5442  
3/11/2010
    (7500 )   $ 1.09     $ 8167  
3/11/2010
    (2500 )   $ 1.10     $ 2742  
3/11/2010
    (4017 )   $ 1.09     $ 4378  
3/11/2010
    (983 )   $ 1.09     $ 1071  
3/11/2010
    (3000 )   $ 1.11     $ 3322  
3/11/2010
    (5000 )   $ 1.11     $ 5542  
3/11/2010
    (3000 )   $ 1.12     $ 3360  
3/11/2010
    (2000 )   $ 1.15     $ 2292  
3/11/2010
    (1500 )   $ 1.13     $ 1695  
3/11/2010
    (10000 )   $ 1.13     $ 11292  
3/11/2010
    (5000 )   $ 1.13     $ 5642  
3/11/2010
    (500 )   $ 1.13     $ 567  
3/11/2010
    (500 )   $ 1.14     $ 570  
3/11/2010
    (9000 )   $ 1.13     $ 10170  
3/11/2010
    (2240 )   $ 1.15     $ 2568  
3/11/2010
    (4260 )   $ 1.14     $ 4856  
3/11/2010
    (3300 )   $ 1.16     $ 3820  
3/11/2010
    (6700 )   $ 1.15     $ 7705  
3/12/2010
    (500 )   $ 1.18     $ 592  
3/12/2010
    (2000 )   $ 1.19     $ 2380  
3/12/2010
    (5000 )   $ 1.18     $ 5900  
3/12/2010
    (4500 )   $ 1.17     $ 5265  
3/12/2010
    (6500 )   $ 1.17     $ 7597  
3/12/2010
    (9115 )   $ 1.16     $ 10565  
3/12/2010
    (500 )   $ 1.18     $ 592  
3/12/2010
    (12000 )   $ 1.16     $ 13920  
3/12/2010
    (15000 )   $ 1.20     $ 17992  
3/12/2010
    (5885 )   $ 1.17     $ 6877  
3/15/2010
    (3000 )   $ 1.19     $ 3562  
3/15/2010
    (2000 )   $ 1.18     $ 2360  
3/15/2010
    (2500 )   $ 1.18     $ 2942  
3/15/2010
    (1311 )   $ 1.17     $ 1534  
3/15/2010
    (1189 )   $ 1.19     $ 1415  
3/15/2010
    (5000 )   $ 1.18     $ 5892  
3/15/2010
    (6500 )   $ 1.24     $ 8052  
3/15/2010
    (500 )   $ 1.23     $ 617  
3/15/2010
    (1489 )   $ 1.22     $ 1817  

 

Page 12 of 14


 

                         
Date   Shares Purchased/ (Sold)     Price Per Share     Total Cost  
3/15/2010
    (5011 )   $ 1.22     $ 6113  
3/15/2010
    (500 )   $ 1.23     $ 615  
3/15/2010
    (1500 )   $ 1.19     $ 1792  
3/15/2010
    (10000 )   $ 1.20     $ 11992  
3/15/2010
    (1111 )   $ 1.20     $ 1332  
3/15/2010
    (5389 )   $ 1.20     $ 6460  
3/15/2010
    (5500 )   $ 1.18     $ 6482  
3/15/2010
    (10401 )   $ 1.11     $ 11537  
3/15/2010
    (10000 )   $ 1.12     $ 11192  
3/15/2010
    (7500 )   $ 1.11     $ 8317  
3/15/2010
    (10000 )   $ 1.11     $ 11092  
3/15/2010
    (5000 )   $ 1.12     $ 5592  
3/15/2010
    (10000 )   $ 1.11     $ 11092  
3/15/2010
    (8500 )   $ 1.22     $ 10362  
3/15/2010
    (8099 )   $ 1.17     $ 9468  
3/15/2010
    (1500 )   $ 1.18     $ 1770  
3/16/2010
    (1497 )   $ 1.16     $ 1743  
3/16/2010
    (2503 )   $ 1.15     $ 2878  
3/16/2010
    (6500 )   $ 1.15     $ 7467  
3/16/2010
    (4000 )   $ 1.15     $ 4592  
3/16/2010
    (6000 )   $ 1.14     $ 6840  
3/16/2010
    (4000 )   $ 1.13     $ 4512  
3/16/2010
    (5000 )   $ 1.12     $ 5592  
3/16/2010
    (5000 )   $ 1.15     $ 5742  
3/16/2010
    (500 )   $ 1.13     $ 567  
3/16/2010
    (8000 )   $ 1.12     $ 8960  
3/16/2010
    (5500 )   $ 1.12     $ 6152  
3/16/2010
    (5000 )   $ 1.12     $ 5592  
3/16/2010
    (5000 )   $ 1.11     $ 5542  
3/16/2010
    (500 )   $ 1.08     $ 542  
3/16/2010
    (10000 )   $ 1.10     $ 10992  
3/16/2010
    (7500 )   $ 1.10     $ 8242  
3/16/2010
    (7000 )   $ 1.09     $ 7622  
3/16/2010
    (6000 )   $ 1.15     $ 6892  
3/16/2010
    (4500 )   $ 1.11     $ 4987  
3/16/2010
    (3000 )   $ 1.10     $ 3292  
3/17/2010
    (4500 )   $ 1.11     $ 4987  
3/17/2010
    (889 )   $ 1.11     $ 986  
3/17/2010
    (5611 )   $ 1.11     $ 6221  
3/17/2010
    (4000 )   $ 1.11     $ 4432  
3/17/2010
    (5000 )   $ 1.10     $ 5492  
3/17/2010
    (3000 )   $ 1.11     $ 3322  
3/17/2010
    (7000 )   $ 1.10     $ 7700  
3/17/2010
    (9000 )   $ 1.08     $ 9712  
3/17/2010
    (5000 )   $ 1.08     $ 5392  

 

Page 13 of 14


 

                         
Date   Shares Purchased/ (Sold)     Price Per Share     Total Cost  
3/17/2010
    (1000 )   $ 1.07     $ 1072  
3/17/2010
    (2500 )   $ 1.09     $ 2717  
3/17/2010
    (6500 )   $ 1.08     $ 7012  
3/17/2010
    (9000 )   $ 1.08     $ 9712  
3/18/2010
    (5000 )   $ 1.15     $ 5742  
3/18/2010
    (7400 )   $ 1.12     $ 8280  
3/18/2010
    (10000 )   $ 1.12     $ 11192  
3/18/2010
    (5000 )   $ 1.12     $ 5592  
3/18/2010
    (5000 )   $ 1.12     $ 5592  
3/18/2010
    (9500 )   $ 1.12     $ 10632  
3/18/2010
    (4500 )   $ 1.11     $ 4987  
3/18/2010
    (6500 )   $ 1.11     $ 7207  
3/18/2010
    (5000 )   $ 1.11     $ 5542  
3/18/2010
    (4489 )   $ 1.11     $ 4978  
3/18/2010
    (4011 )   $ 1.11     $ 4448  
3/18/2010
    (2600 )   $ 1.15     $ 2982  
3/19/2010
    (5000 )   $ 1.10     $ 5492  
3/19/2010
    (4657 )   $ 1.10     $ 5118  
3/19/2010
    (2843 )   $ 1.10     $ 3124  
3/19/2010
    (5000 )   $ 1.10     $ 5492  
3/19/2010
    (10000 )   $ 1.08     $ 10792  
3/19/2010
    (10000 )   $ 1.07     $ 10692  
3/19/2010
    (7500 )   $ 1.08     $ 8092  
3/19/2010
    (12000 )   $ 1.08     $ 12952  
3/19/2010
    (10000 )   $ 1.08     $ 10792  
3/19/2010
    (10000 )   $ 1.08     $ 10792  
3/19/2010
    (100 )   $ 1.00     $ 100  
3/19/2010
    (1525 )   $ 1.07     $ 1632  
3/19/2010
    (12500 )   $ 1.07     $ 13367  
3/19/2010
    (4525 )   $ 1.06     $ 4788  
3/19/2010
    (8375 )   $ 1.08     $ 9037  
3/19/2010
    (5475 )   $ 1.07     $ 5850  

 

Page 14 of 14

-----END PRIVACY-ENHANCED MESSAGE-----