-----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, HkwXFGZvzu6bHDOlOjksPdJgQAeyGkIwRdvZtXm3E9xcWgKAP/Jq+V4ojPNnchtY P2VOKePA8O3evdoOCBjoKQ== 0000890163-10-000047.txt : 20100302 0000890163-10-000047.hdr.sgml : 20100302 20100302165816 ACCESSION NUMBER: 0000890163-10-000047 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20100302 DATE AS OF CHANGE: 20100302 GROUP MEMBERS: PAUL J. SOLIT GROUP MEMBERS: POTOMAC CAPITAL MANAGEMENT II INC. GROUP MEMBERS: POTOMAC CAPITAL MANAGEMENT INC. GROUP MEMBERS: POTOMAC CAPITAL MANAGMENT LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NUMEREX CORP /PA/ CENTRAL INDEX KEY: 0000870753 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 112948749 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46687 FILM NUMBER: 10649960 BUSINESS ADDRESS: STREET 1: 1600 PARKWOOD CIRCLE STREET 2: SUITE 200 CITY: ATLANTA STATE: GA ZIP: 30339 BUSINESS PHONE: 770-693-5950 MAIL ADDRESS: STREET 1: 1600 PARKWOOD CIRCLE STREET 2: SUITE 200 CITY: ATLANTA STATE: GA ZIP: 30339 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: POTOMAC CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001233369 IRS NUMBER: 133984298 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 825 THIRD AVENUE STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2125215115 MAIL ADDRESS: STREET 1: 825 THIRD AVENUE STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 s22-9598_potomac.htm SCHEDULE 13G/A s22-9598_potomac.htm
 
SEC 1745  Potential persons who are to respond to the collection of information
(02-02)   contained in this form are not required to respond unless the form
          displays a currently valid OMB control number.
 
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                  SCHEDULE 13G/A
                                 (Rule 13d-102)
 
             Information Statement Pursuant to Rules 13d-1 and 13d-2
                    Under the Securities Exchange Act of 1934
 
                                  Numerex Corp.
                                (Name of Issuer)
 
                              Class A Common Stock
                         (Title of Class of Securities)
 
                                    67053A102
                                 (CUSIP Number)
 
                                February 22, 2010
             (Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
 
  [     ]   Rule 13d-1(b)
  [  X  ]   Rule 13d-1(c)
  [     ]   Rule 13d-1(d)
 
*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. 553531104
 
 1.  Names of Reporting Persons. I.R.S. Identification Nos. of above
     persons (entities only)
 
     Potomac Capital Management LLC
     13-3984298
 
 2.  Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [   ]
     (b)  [   ]
 
 3.  SEC Use Only
 
 4.  Citizenship or Place of Organization
     New York
 
Number of         5. Sole Voting Power
Shares               581,007 shares of common stock(1)
Beneficially
Owned by          6. Shared Voting Power
Each                 0
Reporting
Person With       7. Sole Dispositive Power
                     581,007 shares of common stock(1)
 
                  8. Shared Dispositive Power
                     0
 
9.   Aggregate Amount Beneficially Owned by Each Reporting Person
     581,007 shares of common stock(1)
 
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions) [ ]
 
11.  Percent of Class Represented by Amount in Row (9)
     3.9% (2)
 
12.  Type of Reporting Person (See Instructions)
     HC; OO (Limited Liability Corporation)
 
---------------------------
(1)  Potomac Capital Management LLC may be deemed to hold an indirect beneficial interest in these shares, which are directly beneficially owned by Potomac Capital Partners, LP.  Potomac Capital Management LLC is the General Partner of Potomac Capital Partners, LP.  Mr. Paul J. Solit is the Managing Member of Potomac Capital Management, LLC.
(2)  Based on 14,856,858 shares of common stock of Numerex Corp. outstanding as of November 5, 2009.
 

 
 

 

 
 
1.  Names of Reporting Persons. I.R.S. Identification Nos. of above
     persons (entities only)
 
     Potomac Capital Management Inc.
     13-3984786
 
 2.  Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [   ]
     (b)  [   ]
 
 3.  SEC Use Only
 
 4.  Citizenship or Place of Organization
     Delaware
 
Number of        5.  Sole Voting Power
Shares               129,142 shares of common stock(3)
Beneficially
Owned by         6.  Shared Voting Power
Each                 0
Reporting
Person With      7.  Sole Dispositive Power
                     129,142 shares of common stock(3)
 
                 8.  Shared Dispositive Power
                     0
 
 9.  Aggregate Amount Beneficially Owned by Each Reporting Person
     129,142 shares of common stock(3)
 
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions) [ ]
 
11.  Percent of Class Represented by Amount in Row (9)
     0.9%(4)
 
12.  Type of Reporting Person (See Instructions)
     HC; CO
 
---------------------------
(3)  Potomac Capital Management Inc. may be deemed to hold an indirect beneficial
interest in these shares, which are directly beneficially owned by Potomac Capital
International Ltd. and Pleiades Investment Partners-R, LP.  Potomac Capital
Management Inc. is the General Partner of both Potomac Capital International Ltd
and Pleiades Investment Partners-R, LP.  Mr. Paul J. Solit is the Managing Member
of Potomac Capital Management Inc.
(4)  Based on 14,856,858 shares of common stock of Numerex Corp. outstanding
as of November 5, 2009.
 

 
 

 

 
1.  Names of Reporting Persons. I.R.S. Identification Nos. of above
    persons (entities only)
 
    Potomac Capital Management II, LLC.
    26-2667126
 
 2. Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [   ]
     (b)  [   ]
 
 3. SEC Use Only
 
 4. Citizenship or Place of Organization
    Delaware
 
Number of         5. Sole Voting Power
Shares               35,100 shares of common stock(5)
Beneficially  
Owned by          6. Shared Voting Power
Each                 0
Reporting
Person With       7. Sole Dispositive Power
                     35,100 shares of common stock(5)
 
                  8. Shared Dispositive Power
                     0
 
  9. Aggregate Amount Beneficially Owned by Each Reporting Person
     35,100 shares of common stock(5)
 
 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions) [ ]
 
 11. Percent of Class Represented by Amount in Row (9)
     .02%(6)
 
 12. Type of Reporting Person (See Instructions)
     HC; OO (Limited Liability Corporation)
 
---------------------------
(5) Potomac Capital Management II, LLC may be deemed to hold an indirect beneficial interest
in these shares, which are directly beneficially owned by Potomac Capital Partners II, LP.  
Potomac Capital Management II, LLC is the General Partner of Potomac Capital Partners II, LP.  
Mr. Paul J. Solit is the Managing Member of Potomac Capital Management II, LLC.
(6) Based on 14,856,858 shares of common stock of Numerex Corp. outstanding as
of November 5, 2009.
 

 
 

 

 
1.  Names of Reporting Persons. I.R.S. Identification Nos. of above persons
    (entities only)
 
     Paul J. Solit
 
 2.  Check the Appropriate Box if a Member of a Group (See Instructions)
     (a)  [   ]
     (b)  [   ]
 
 3.  SEC Use Only
 
 4.  Citizenship or Place of Organization
     U.S. Citizen
 
Number of         5. Sole Voting Power
Shares               315,812 shares of common stock
Beneficially
Owned by          6. Shared Voting Power
Each                 745,249 shares of common stock
Reporting
Person With       7. Sole Dispositive Power
                     315,812 shares of common stock
 
                  8. Shared Dispositive Power
                     745,249 shares of common stock
 
 9.  Aggregate Amount Beneficially Owned by Each Reporting Person
     1,061,061 shares of common stock
 
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions) [ ]
 
11.  Percent of Class Represented by Amount in Row (9)
     7.1%(4)
 
12.  Type of Reporting Person (See Instructions)
     IN; HC
 
---------------------------
4) Based on 14,856,858 shares of common stock of Numerex Corp. outstanding as of
   November 5, 2009.
 

 
 

 

 
Item 1.
 
     (a)  Name of Issuer
          NUMEREX CORP.
 
     (b)  Address of Issuer's Principal Executive Offices
          1600 Parkwood Circle Suite 200
          Atlanta, GA 30339-2119
 
Item 2.
 
     (a)  Name of Person Filing
          Potomac Capital Management LLC
 
     (b)  Address of Principal Business Office or, if none, Residence
          825 Third Avenue
          33rd Floor
          New York, New York 10022
 
     (c)  Citizenship
          Limited Liability Company formed under the laws of the State of
          New York.
 
     (a)  Name of Person Filing
          Potomac Capital Management Inc.
 
     (b)  Address of Principal Business Office or, if none, Residence
          825 Third Avenue
          33rd Floor
          New York, New York 10022
 
     (c)  Citizenship
          Corporation formed under the laws of the State of Delaware.
 
     (a)  Name of Person Filing
          Potomac Capital Management II LLC
 
     (b)  Address of Principal Business Office or, if none, Residence
          825 Third Avenue
          33rd Floor
          New York, New York 10022
 
     (c)  Citizenship
          Limited Liability Company formed under the laws of the State of
          Delaware.
 
     (a)  Name of Person Filing
          Paul J. Solit
 
     (b)  Address of Principal Business Office or, if none, Residence
          c/o Potomac Capital Management LLC
          825 Third Avenue
          33rd Floor
          New York, New York 10022
 
     (c)  Citizenship
          U.S. Citizen
 
     (d)  Title of Class of Securities
          Class A Common Stock, no par value
 
     (e)  CUSIP Number
          67053A102
 

 
 

 

 
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
        240.13d-2(b) or (c), check whether the person filing is a:
        Not Applicable
 
     (a)  [  ] Broker or dealer registered under Section 15 of the Exchange Act;
 
     (b)  [  ] Bank as defined in Section 3(a)(6) of the Exchange Act;
 
     (c)  [  ] Insurance company as defined in Section 3(a)(19) of
               the Exchange Act;
 
     (d)  [  ] Investment company registered under Section 8 of the
               Investment Company Act;
 
     (e)  [  ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
 
     (f)  [  ] An employee benefit plan or endowment fund in accordance with
               Rule 13d-1(b)(1)(ii)(F);
 
     (g)  [  ] A parent holding company or control person in accordance with
               Rule 13d-1(b)(1)(ii)(G);
 
     (h)  [  ] A savings association as defined in Section 3(b) of
               the Federal Deposit Insurance Act;
 
     (i)  [  ] A church plan that is excluded from the definition of
               an investment company under Section 3(c)(14) of the Investment
               Company Act;
 
     (j)  [  ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
 
Item 4.      Ownership
 
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
 
Potomac Capital Management LLC
     (a)  Amount beneficially owned:
          581,007
     (b)  Percentage of class:
          3.9%
     (c)  Number of shares as to which the person has:
          (i)   Sole power to vote or to direct the vote:
                581,007
          (ii)  Shared power to vote or to direct the vote:
          (iii) Sole power to dispose or to direct the disposition of:
                581,007
 

 
 

 

 
Potomac Capital Management Inc.
     (a)  Amount beneficially owned:
          129,142
     (b)  Percentage of class:
          0.9%
     (c)  Number of shares as to which the person has:
           (i)   Sole power to vote or to direct the vote:
                 129,142
           (ii)  Shared power to vote or to direct the vote:
           (iii) Sole power to dispose or to direct the disposition:
                 129,142
 
Potomac Capital Management II LLC
     (a)  Amount beneficially owned:  35,100
     (b)  Percentage of class: .02%
     (c)  Number of shares as to which the person has:
           (i)   Sole power to vote or to direct the vote:
                 35,100
           (ii)  Shared power to vote or to direct the vote:
           (iii) Sole power to dispose or to direct the disposition:
                 35,100
 
Paul J. Solit
     (a)  Amount beneficially owned:
          1,061,061
     (b)  Percentage of class:
          7.1%
     (c)  Number of shares as to which the person has:
          (i)   Sole power to vote or to direct the vote:
                315,812
          (ii)  Shared power to vote or to direct the vote:
                745,249
          (iii) Sole power to dispose or to direct the disposition:
                315,812
 
Item 5.      Ownership of Five Percent or Less of a Class
             If this Statement is being filed to report the fact that as of the
             date hereof the Reporting Persons have ceased to be the beneficial
             owner of more than five percent of the class of securities, check
             the following [ ]
 
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
             See Exhibit A attached hereto.
 
Item 8.      Identification and Classification of Members of the Group
             Not Applicable.
 
Item 9.      Notice of Dissolution of Group
             Not Applicable.
 

 
 

 

 
Item 10.     Certification
 
         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 its knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
 
Dated this 2nd day of March, 2010
 
                                          POTOMAC CAPITAL MANAGEMENT LLC
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, Managing Member
 
                                          POTOMAC CAPITAL MANAGEMENT INC.
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, President
 
                                          POTOMAC CAPITAL MANAGEMENT II LLC
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, Managing Member
 
                                          PAUL J. SOLIT
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit

 
 

 

 
EXHIBIT INDEX
 
The following exhibits are filed with this report on Schedule 13G/A:
 
Exhibit A     Identification of entities which acquired the shares which are
              the subject of this report on Schedule 13G/A.
 
Exhibit B     Joint Filing Agreement dated March 2, 2010 among Potomac
              Capital Management LLC, Potomac Capital Management II LLC,
              Potomac Capital Management, Inc., and Paul J. Solit.
 
 
 
 
 

 
 
 
 
EX-99.1 2 s22-9596_exhibita.htm EXHIBIT A s22-9596_exhibita.htm
 
Exhibit A
 
Identification of entities which acquired the shares which are the subject of
this report on Schedule 13G/A.
 
(1)      Potomac Capital Partners LP, a private investment partnership formed
         under the laws of the State of Delaware. Potomac Capital Management LLC
         is the General Partner of Potomac Capital Partners LP. Mr. Paul J.
         Solit is the Managing Member of Potomac Capital Management LLC.
 
(2)      Potomac Capital International Ltd., an international business company
         formed under the laws of the British Virgin Islands. Potomac Capital
         Management Inc. is the Investment Manager of Potomac Capital
         International Ltd. Paul J. Solit is the President and sole owner of
         Potomac Capital Management Inc., and a Director of Potomac Capital
         International Ltd.
 
(3)      Potomac Capital Partners II, LP, a private investment partnership
         formed under the laws of the State of Delaware. Potomac Capital
         Management II, LLC is the General Partner of Potomac Capital Partners
         II, LP. Mr. Paul J. Solit is the Managing Member of Potomac Capital
         Management II LLC.
 
(4)      Pleiades Investment Partners-R, LP, a private investment partnership
         formed under the laws of the State of Delaware. Potomac Capital
         Management Inc. is the Investment Manager of a managed account of
         Pleiades Investment Partners-R, LP. Paul J. Solit is the President and
         sole owner of Potomac Capital Management Inc.



EX-99.2 3 s22-9598_exhibitb.htm EXHIBIT B s22-9598_exhibitb.htm
 
Exhibit B
 
                             JOINT FILING AGREEMENT
 
         This Agreement is filed as an exhibit to Schedule 13G/A being filed by
Potomac Capital Management LLC, Potomac Capital Management II LLC, Potomac
Capital Management Inc., and Paul J. Solit in compliance with Rule 13d-1(k) of
the Securities and Exchange Commission, which requires an agreement in writing
indicating that the Schedule 13G/A to which this Agreement is attached is filed on
behalf of the below-named entities, that they are each responsible for the
timely filing of the Schedule 13G/A and any amendments thereto and for the
completeness and accuracy of the information concerning such persons contained
therein.
 
Dated: March 2, 2010
 
                                          POTOMAC CAPITAL MANAGEMENT LLC
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, Managing Member
 
                                          POTOMAC CAPITAL MANAGEMENT INC.
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, President
 
                                          POTOMAC CAPITAL MANAGEMENT II LLC
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit, Managing Member
 
                                          PAUL J. SOLIT
                                          By:   /s/ Paul J. Solit
                                                --------------------------------
                                                Paul J. Solit
 

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