-----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, CVSu4l6Ys5i0J/yDVxc85uuHUqKWlaQw58dO7FS4zf3cVZy1bC6RwlwAMUaUYghD xB1PF8/cnUqN307ymtFMNA== 0001337851-07-000008.txt : 20070307 0001337851-07-000008.hdr.sgml : 20070307 20070307162733 ACCESSION NUMBER: 0001337851-07-000008 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070307 DATE AS OF CHANGE: 20070307 GROUP MEMBERS: PRAETORIAN CAPITAL MANAGEMENT LLC GROUP MEMBERS: PRAETORIAN OFFSHORE LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BINGO.COM LTD. CENTRAL INDEX KEY: 0001318482 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1A FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-81694 FILM NUMBER: 07678128 BUSINESS ADDRESS: STREET 1: NATIONAL BANK OF ANGUILLA CORP. BUILDING STREET 2: 1ST FLOOR, ST. MARY CITY: THE VALLEY STATE: 1A ZIP: 0000000 BUSINESS PHONE: 264 497 8129 MAIL ADDRESS: STREET 1: NATIONAL BANK OF ANGUILLA CORP. BUILDING STREET 2: 1ST FLOOR, ST. MARY CITY: THE VALLEY STATE: 1A ZIP: 0000000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Praetorian Capital Management LLC CENTRAL INDEX KEY: 0001337851 IRS NUMBER: 134223355 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 119 WASHINGTON AVENUE STREET 2: SUITE 600 CITY: MIAMI BEACH STATE: FL ZIP: 33139 BUSINESS PHONE: 305-938-2800 MAIL ADDRESS: STREET 1: 119 WASHINGTON AVENUE STREET 2: SUITE 600 CITY: MIAMI BEACH STATE: FL ZIP: 33139 SC 13D 1 bingof13d20070307.txt BNGOF FORM 13D FILING OF 2007 03 07 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. ________)* Bingo.com, Ltd. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) G11152108 (CUSIP Number) Praetorian Capital Management LLC 119 Washington Avenue, Suite 600 Miami Beach, FL 33139 305-938-2800 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 5, 2007 (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 Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [X] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-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). Page 1 of 13 Pages CUSIP No. G11152108 13D Page 2 of 13 Pages ______________________________________________________________________ 1. Names of Reporting Persons Praetorian Capital Management LLC (See Item 2(A)) I.R.S. Identification Nos. of above persons (entities only). 13-4223355 ______________________________________________________________________ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] ______________________________________________________________________ 3. SEC Use Only ______________________________________________________________________ 4. Source of Funds (See Instructions) AF ______________________________________________________________________ 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ] ______________________________________________________________________ 6. Citizenship or Place of Organization Delaware ______________________________________________________________________ 7. Sole Voting Power ____________________________________________________ Number of Shares 8. Shared Voting Power 11,400,000 shares Beneficially ____________________________________________________ Owned By Each 9. Sole Dispositive Power Reporting ______________________________________________________ Person With 10. Shared Dispositive Power 11,400,000 shares ______________________________________________________________________ 11. Aggregate Amount Beneficially Owned by Each Reporting Person 11,400,000 shares ______________________________________________________________________ 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ______________________________________________________________________ 13. Percent of Class Represented by Amount in Row (11) 31.3% ______________________________________________________________________ 14. Type of Reporting Person (See Instructions) IA ______________________________________________________________________ CUSIP No. G11152108 13D Page 3 of 13 Pages ______________________________________________________________________ 1. Names of Reporting Persons Praetorian Offshore Ltd. (See Item 2(A)) I.R.S. Identification Nos. of above persons (entities only). 98-0465606 ______________________________________________________________________ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] ______________________________________________________________________ 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) [ ] ______________________________________________________________________ 6. Citizenship or Place of Organization Cayman Islands ______________________________________________________________________ 7. Sole Voting Power ____________________________________________________ Number of Shares 8. Shared Voting Power 11,400,000 shares Beneficially ____________________________________________________ Owned By Each 9. Sole Dispositive Power Reporting ______________________________________________________ Person With 10. Shared Dispositive Power 11,400,000 shares ______________________________________________________________________ 11. Aggregate Amount Beneficially Owned by Each Reporting Person 11,400,000 shares ______________________________________________________________________ 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ______________________________________________________________________ 13. Percent of Class Represented by Amount in Row (11) 31.3% ______________________________________________________________________ 14. Type of Reporting Person (See Instructions) OO ______________________________________________________________________ CUSIP No. G11152108 13D Page 4 of 13 Pages ______________________________________________________________________ Item 1. Security and Issuer This Schedule 13D relates to the common stock, no par value per share (the "Common Stock") of Bingo.com, Ltd. (the "Issuer"). The Issuer's principal executive offices are located at National Bank of Anguilla Corporate Building, 1st Floor, St Mary's Road, TV1 02P, The Valley, Anguilla, B.W.I. Item 2. Identity and Background (a) This statement is filed on behalf of Praetorian Capital Management LLC (the "Management Company") a Delaware limited liability company, and Praetorian Offshore Ltd. (the "Fund"), a Cayman Islands exempted company (collectively, the "Reporting Person"). The Management Company serves as investment manager or advisor to the Fund with respect to the shares of Common Stock directly owned by the Fund. The Management Company makes the investment and voting decisions on behalf of the Fund but owns no direct investments in the securities of the Issuer. The Fund directly owns the shares of the Common Stock of the Issuer but does not make any decisions as to voting or buying or selling shares of the Issuer. (b) The address of the business office of the Reporting Person is Praetorian Capital Management LLC, 119 Washington Avenue, Suite 600, Miami Beach, FL 33139. (c) The principal business of the Management Company is to provide investment advisory services. The principal business of the Fund is to serve as an investment fund under the direction of the Management Company. (d) During the last five years, neither the Management Company nor the Fund has been convicted in a criminal proceeding. (e) During the last five years, neither the Management Company nor the Fund has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction. (f) The Management Company is a Delaware limited liability company. The Fund is a Cayman Islands exempted company. Item 3. Source and Amount of Funds or Other Consideration As of March 5, 2007, the aggregate purchase price for 8,600,000 shares (see Item 5 (a)) of the Issuer's Common Stock purchased by the Fund was $3,494,285. The source of funding for the purchase of these shares was the Fund's working capital. Item 4. Purpose of Transaction The Reporting Person acquired the Common Stock of the Issuer for investment in the ordinary course of business because it believes the shares represent an attractive investment opportunity. CUSIP No. G11152108 13D Page 5 of 13 Pages ______________________________________________________________________ The Reporting Person may acquire additional Common Stock via open-market transactions. The Reporting Person may choose to exercise warrants to acquire additional shares (see Item 5(a)). However, there is no timetable or pre-arranged plan related to the purchase of additional Common Stock. Such decisions will be made based on trading activity and the relative value of the Common Stock, as defined by market conditions. The Reporting Person has no current expectation of attempting to influence management of the Issuer regarding its business plans, business processes, or directors or management personnel. The Reporting Person's purchase of the Common Stock was made based on the perceived investment merits related to the Common Stock. While the Reporting Person expects to be in periodic contact with the Issuer's management personnel, the Reporting Person is in full agreement with the Issuer's business plan. Item 5. Interest in Securities of the Issuer (a) As of the date hereof, the Reporting Person is the beneficial owner of 11,400,000 shares of Common Stock, representing approximately 31.3% of the Issuer's outstanding Common Stock. As required under the SEC's regulations, those values include 2,800,000 shares of Common Stock which may be acquired under a warrant purchase agreement between the Issuer and the Reporting Person. All percentages set forth in this Schedule 13D are based on the Issuer's statements on its 10-QSB for the quarter ended September 30, 2006 as to the number of outstanding shares of common stock (27,640,553). The number of shares outstanding after the March 5, 2007 private placement of 6,000,000 shares (5,600,000 shares of which were purchased by the Reporting Person) totals 33,640,553. If the warrants purchased by the Reporting Person were exercised, the total number of shares outstanding would be 36,440,553, and it is that number of shares outstanding that was used in the calculation of ownership percentage. The shares that may be acquired under the warrant agreement have not yet been purchased, and there is no plan to acquire such shares in the immediate future. Without the warrant shares, the number of shares owned is 8,600,000, which represents 25.6% of the 33,640,553 shares of common stock outstanding (where the number of shares outstanding does not include the shares represented by the warrant purchase agreement between the Issuer and the Reporting Person). (b) See Item 2(a). CUSIP No. G11152108 13D Page 6 of 13 Pages ______________________________________________________________________ (c) The following table sets forth all transactions by the Reporting Person with respect to the Common Stock of the Issuer. No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 8/23/2005 Buy 7,500 0.626 Open Market Fund 8/23/2005 Buy 2,500 0.626 Open Market Fund 8/24/2005 Buy 100 0.630 Open Market Fund 8/24/2005 Buy 105 0.620 Open Market Fund 8/24/2005 Buy 10 0.620 Open Market Fund 8/25/2005 Buy 5,000 0.651 Open Market Fund 8/26/2005 Buy 4,500 0.621 Open Market Fund 8/26/2005 Buy 250 0.621 Open Market Fund 8/26/2005 Buy 5,035 0.641 Open Market Fund 8/29/2005 Buy 2,500 0.641 Open Market Fund 8/30/2005 Buy 128 0.626 Open Market Fund 8/30/2005 Buy 100 0.635 Open Market Fund 8/30/2005 Buy 5,000 0.626 Open Market Fund 8/31/2005 Buy 2,272 0.636 Open Market Fund 9/6/2005 Buy 5,000 0.601 Open Market Fund 9/6/2005 Buy 5,000 0.601 Open Market Fund 9/6/2005 Buy 10,000 0.616 Open Market Fund 9/6/2005 Buy 5,000 0.614 Open Market Fund 9/7/2005 Buy 10,000 0.621 Open Market Fund 9/7/2005 Buy 5,000 0.601 Open Market Fund 9/7/2005 Buy 10,000 0.601 Open Market Fund 9/7/2005 Buy 2,000 0.629 Open Market Fund 9/7/2005 Buy 8,000 0.616 Open Market Fund 9/8/2005 Buy 200 0.625 Open Market Fund 9/8/2005 Buy 2,400 0.601 Open Market Fund 9/8/2005 Buy 1,800 0.601 Open Market Fund 9/8/2005 Buy 2,200 0.601 Open Market Fund 9/8/2005 Buy 2,800 0.601 Open Market Fund 9/8/2005 Buy 4,000 0.571 Open Market Fund 9/9/2005 Buy 4,600 0.576 Open Market Fund 9/9/2005 Buy 7,000 0.571 Open Market Fund 9/12/2005 Buy 650 0.571 Open Market Fund 9/12/2005 Buy 3,000 0.571 Open Market Fund 9/13/2005 Buy 2,200 0.581 Open Market Fund 9/13/2005 Buy 2,150 0.581 Open Market Fund 9/13/2005 Buy 3,000 0.571 Open Market Fund 9/14/2005 Buy 3,000 0.581 Open Market Fund 9/14/2005 Buy 2,000 0.581 Open Market Fund 9/14/2005 Buy 2,200 0.591 Open Market Fund 9/20/2005 Buy 2,800 0.611 Open Market Fund 9/20/2005 Buy 5,000 0.611 Open Market Fund 9/20/2005 Buy 9,000 0.611 Open Market Fund 9/21/2005 Buy 10,000 0.611 Open Market Fund 9/23/2005 Buy 5,000 0.611 Open Market Fund 9/23/2005 Buy 5,000 0.611 Open Market Fund 9/26/2005 Buy 10,000 0.582 Open Market CUSIP No. G11152108 13D Page 7 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 9/26/2005 Buy 2,200 0.591 Open Market Fund 9/26/2005 Buy 400 0.593 Open Market Fund 9/27/2005 Buy 1,600 0.591 Open Market Fund 9/28/2005 Buy 800 0.591 Open Market Fund 9/30/2005 Buy 400 0.573 Open Market Fund 10/3/2005 Buy 2,600 0.571 Open Market Fund 10/3/2005 Buy 2,000 0.571 Open Market Fund 10/3/2005 Buy 2,000 0.571 Open Market Fund 10/3/2005 Buy 2,200 0.571 Open Market Fund 10/3/2005 Buy 1,800 0.571 Open Market Fund 10/4/2005 Buy 1,800 0.571 Open Market Fund 10/4/2005 Buy 1,400 0.571 Open Market Fund 10/4/2005 Buy 1,400 0.571 Open Market Fund 10/4/2005 Buy 200 0.575 Open Market Fund 10/4/2005 Buy 2,200 0.571 Open Market Fund 10/4/2005 Buy 200 0.575 Open Market Fund 10/5/2005 Buy 2,800 0.571 Open Market Fund 10/5/2005 Buy 4,000 0.571 Open Market Fund 10/5/2005 Buy 5,000 0.571 Open Market Fund 10/5/2005 Buy 5,000 0.571 Open Market Fund 10/5/2005 Buy 5,000 0.571 Open Market Fund 10/6/2005 Buy 15,000 0.571 Open Market Fund 10/6/2005 Buy 5,000 0.571 Open Market Fund 10/6/2005 Buy 5,000 0.571 Open Market Fund 10/19/2005 Buy 3,000 0.653 Open Market Fund 10/19/2005 Buy 1,000 0.651 Open Market Fund 10/19/2005 Buy 2,000 0.651 Open Market Fund 10/19/2005 Buy 3,000 0.651 Open Market Fund 10/19/2005 Buy 3,000 0.651 Open Market Fund 10/19/2005 Buy 3,000 0.653 Open Market Fund 10/21/2005 Buy 2,200 0.601 Open Market Fund 10/21/2005 Buy 5,000 0.601 Open Market Fund 10/21/2005 Buy 3,400 0.601 Open Market Fund 10/21/2005 Buy 2,200 0.601 Open Market Fund 10/21/2005 Buy 2,200 0.601 Open Market Fund 10/21/2005 Buy 2,000 0.601 Open Market Fund 10/21/2005 Buy 1,000 0.601 Open Market Fund 10/21/2005 Buy 5,000 0.606 Open Market Fund 10/21/2005 Buy 2,000 0.601 Open Market Fund 10/21/2005 Buy 5,000 0.603 Open Market Fund 10/24/2005 Buy 5,000 0.571 Open Market Fund 10/25/2005 Buy 5,000 0.552 Open Market Fund 10/25/2005 Buy 4,950 0.552 Open Market Fund 10/31/2005 Buy 50 0.620 Open Market Fund 10/31/2005 Buy 2,000 0.591 Open Market Fund 10/31/2005 Buy 3,000 0.591 Open Market Fund 11/4/2005 Buy 2,500 0.631 Open Market Fund 11/4/2005 Buy 2,500 0.631 Open Market CUSIP No. G11152108 13D Page 8 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 11/4/2005 Buy 2,400 0.631 Open Market Fund 11/4/2005 Buy 2,600 0.631 Open Market Fund 11/10/2005 Buy 2,500 0.621 Open Market Fund 11/10/2005 Buy 2,500 0.621 Open Market Fund 11/10/2005 Buy 2,500 0.631 Open Market Fund 11/11/2005 Buy 2,500 0.661 Open Market Fund 11/17/2005 Buy 2,200 0.631 Open Market Fund 11/17/2005 Buy 2,200 0.631 Open Market Fund 11/17/2005 Buy 2,200 0.631 Open Market Fund 11/17/2005 Buy 4,400 0.631 Open Market Fund 11/21/2005 Buy 2,000 0.651 Open Market Fund 11/21/2005 Buy 1,000 0.651 Open Market Fund 11/21/2005 Buy 400 0.653 Open Market Fund 11/21/2005 Buy 400 0.653 Open Market Fund 11/21/2005 Buy 200 0.655 Open Market Fund 11/22/2005 Buy 5,000 0.606 Open Market Fund 11/23/2005 Buy 3,000 0.611 Open Market Fund 11/23/2005 Buy 3,300 0.611 Open Market Fund 11/23/2005 Buy 300 0.653 Open Market Fund 11/23/2005 Buy 200 0.655 Open Market Fund 11/23/2005 Buy 200 0.655 Open Market Fund 11/23/2005 Buy 1,400 0.651 Open Market Fund 11/25/2005 Buy 1,600 0.651 Open Market Fund 11/30/2005 Buy 10,000 0.651 Open Market Fund 11/30/2005 Buy 5,000 0.651 Open Market Fund 11/30/2005 Buy 5,000 0.651 Open Market Fund 12/5/2005 Buy 200 0.795 Open Market Fund 12/5/2005 Buy 500,000 0.810 Open Market Fund 12/5/2005 Buy 2,950 0.792 Open Market Fund 12/5/2005 Buy 400 0.753 Open Market Fund 12/5/2005 Buy 200 0.755 Open Market Fund 12/5/2005 Buy 3,000 0.701 Open Market Fund 12/5/2005 Buy 1,800 0.701 Open Market Fund 12/5/2005 Buy 400 0.703 Open Market Fund 12/5/2005 Buy 850 0.671 Open Market Fund 12/5/2005 Buy 200 0.795 Open Market Fund 12/9/2005 Buy 5,000 0.631 Open Market Fund 12/9/2005 Buy 7,500 0.631 Open Market Fund 12/12/2005 Buy 2,500 0.651 Open Market Fund 12/13/2005 Buy 5,000 0.651 Open Market Fund 1/10/2006 Buy 7,500 0.631 Open Market Fund 1/10/2006 Buy 5,000 0.636 Open Market Fund 1/11/2006 Buy 5,000 0.641 Open Market Fund 1/11/2006 Buy 2,500 0.641 Open Market Fund 1/11/2006 Buy 5,000 0.641 Open Market Fund 1/23/2006 Buy 2,200 0.631 Open Market Fund 1/23/2006 Buy 1,200 0.631 Open Market Fund 1/24/2006 Buy 4,600 0.621 Open Market Fund 1/24/2006 Buy 2,000 0.621 Open Market Fund 1/24/2006 Buy 1,200 0.621 Open Market CUSIP No. G11152108 13D Page 9 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 1/24/2006 Buy 400 0.623 Open Market Fund 1/24/2006 Buy 5,000 0.628 Open Market Fund 1/25/2006 Buy 400 0.628 Open Market Fund 1/25/2006 Buy 2,200 0.626 Open Market Fund 1/25/2006 Buy 1,200 0.626 Open Market Fund 1/25/2006 Buy 200 0.630 Open Market Fund 1/25/2006 Buy 600 0.627 Open Market Fund 1/25/2006 Buy 200 0.630 Open Market Fund 1/25/2006 Buy 1,400 0.626 Open Market Fund 1/25/2006 Buy 200 0.630 Open Market Fund 1/27/2006 Buy 2,000 0.631 Open Market Fund 1/27/2006 Buy 5,000 0.631 Open Market Fund 1/27/2006 Buy 2,800 0.627 Open Market Fund 2/1/2006 Buy 10,200 0.634 Open Market Fund 2/2/2006 Buy 1,000 0.615 Open Market Fund 2/6/2006 Buy 5,000 0.644 Open Market Fund 2/6/2006 Buy 800 0.644 Open Market Fund 2/6/2006 Buy 6,200 0.634 Open Market Fund 2/6/2006 Buy 3,000 0.634 Open Market Fund 2/6/2006 Buy 10,000 0.644 Open Market Fund 2/7/2006 Buy 51,000 0.633 Open Market Fund 2/8/2006 Buy 2,500 0.625 Open Market Fund 2/10/2006 Buy 9,100 0.630 Open Market Fund 2/13/2006 Buy 5,150 0.630 Open Market Fund 2/14/2006 Buy 2,450 0.635 Open Market Fund 2/15/2006 Buy 800 0.645 Open Market Fund 2/16/2006 Sell (2,800) 0.623 Open Market Fund 2/17/2006 Sell (2,600) 0.625 Open Market Fund 2/17/2006 Buy 13,800 0.651 Open Market Fund 2/24/2006 Buy 2,500 0.682 Open Market Fund 2/27/2006 Buy 2,500 0.682 Open Market Fund 2/27/2006 Buy 2,000 0.702 Open Market Fund 2/27/2006 Buy 1,000 0.665 Open Market Fund 2/27/2006 Buy 2,000 0.702 Open Market Fund 2/27/2006 Buy 1,000 0.702 Open Market Fund 3/1/2006 Buy 2,000 0.704 Open Market Fund 3/2/2006 Buy 2,000 0.704 Open Market Fund 3/2/2006 Buy 3,000 0.704 Open Market Fund 3/2/2006 Buy 2,000 0.704 Open Market Fund 3/3/2006 Buy 4,000 0.674 Open Market Fund 3/3/2006 Buy 2,000 0.704 Open Market Fund 3/3/2006 Buy 3,000 0.704 Open Market Fund 3/6/2006 Buy 28,000 0.705 Open Market Fund 3/6/2006 Buy 5,000 0.705 Open Market Fund 3/6/2006 Sell (200) 0.695 Open Market Fund 3/7/2006 Sell (2,500) 0.725 Open Market Fund 3/7/2006 Buy 10,000 0.710 Open Market Fund 3/7/2006 Buy 6,000 0.710 Open Market Fund 3/7/2006 Buy 9,000 0.725 Open Market Fund 3/10/2006 Buy 31,200 0.705 Open Market CUSIP No. G11152108 13D Page 10 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 3/13/2006 Buy 50,000 0.740 Open Market Fund 3/13/2006 Buy 88,600 0.714 Open Market Fund 3/14/2006 Buy 25,000 0.720 Open Market Fund 3/15/2006 Buy 5,800 0.715 Open Market Fund 3/17/2006 Buy 2,500 0.772 Open Market Fund 3/17/2006 Buy 3,100 0.772 Open Market Fund 3/17/2006 Buy 1,900 0.772 Open Market Fund 3/17/2006 Buy 1,500 0.782 Open Market Fund 3/17/2006 Buy 1,000 0.782 Open Market Fund 3/17/2006 Buy 3,000 0.782 Open Market Fund 3/17/2006 Buy 2,000 0.782 Open Market Fund 3/17/2006 Buy 6,700 0.777 Open Market Fund 3/21/2006 Buy 24,000 0.829 Open Market Fund 3/22/2006 Buy 16,000 0.886 Open Market Fund 5/1/2006 Buy 67,000 0.898 Open Market Fund 5/2/2006 Buy 2,475 0.902 Open Market Fund 5/2/2006 Buy 4,000 0.924 Open Market Fund 5/2/2006 Buy 4,000 0.924 Open Market Fund 5/2/2006 Buy 1,700 0.924 Open Market Fund 5/2/2006 Buy 2,500 0.924 Open Market Fund 5/2/2006 Buy 2,800 0.924 Open Market Fund 5/2/2006 Buy 2,000 0.924 Open Market Fund 5/2/2006 Buy 2,000 0.924 Open Market Fund 5/2/2006 Buy 1,500 0.914 Open Market Fund 5/2/2006 Buy 20,650 0.915 Open Market Fund 5/2/2006 Buy 25 0.902 Open Market Fund 5/2/2006 Buy 25 0.902 Open Market Fund 5/2/2006 Buy 2,975 0.902 Open Market Fund 5/2/2006 Buy 2,000 0.904 Open Market Fund 5/2/2006 Buy 1,975 0.902 Open Market Fund 5/2/2006 Buy 25 0.926 Open Market Fund 5/2/2006 Buy 2,000 0.914 Open Market Fund 5/3/2006 Buy 26,850 0.928 Open Market Fund 5/3/2006 Buy 3,000 0.922 Open Market Fund 5/3/2006 Buy 4,500 0.932 Open Market Fund 5/3/2006 Buy 2,500 0.922 Open Market Fund 5/3/2006 Buy 3,000 0.922 Open Market Fund 5/3/2006 Buy 5,000 0.932 Open Market Fund 5/4/2006 Buy 47,500 0.923 Open Market Fund 5/5/2006 Buy 10,000 0.912 Open Market Fund 5/5/2006 Buy 42,500 0.918 Open Market Fund 5/5/2006 Buy 10,000 0.912 Open Market Fund 5/9/2006 Buy 6,500 0.905 Open Market Fund 5/10/2006 Buy 2,500 0.902 Open Market Fund 5/10/2006 Buy 24,000 0.934 Open Market Fund 5/10/2006 Buy 2,500 0.902 Open Market Fund 7/11/2006 Buy 140,000 0.813 Open Market Fund 7/17/2006 Buy 5,000 0.852 Open Market Fund 7/17/2006 Buy 2,500 0.852 Open Market Fund 7/18/2006 Buy 7,500 0.860 Open Market CUSIP No. G11152108 13D Page 11 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 7/18/2006 Buy 2,500 0.852 Open Market Fund 7/19/2006 Buy 2,100 0.860 Open Market Fund 7/24/2006 Buy 17,500 0.860 Open Market Fund 7/25/2006 Buy 4,000 0.875 Open Market Fund 7/27/2006 Buy 6,100 0.865 Open Market Fund 7/28/2006 Buy 36,000 0.884 Open Market Fund 7/31/2006 Buy 50,200 0.909 Open Market Fund 8/1/2006 Buy 9,100 0.955 Open Market Fund 8/1/2006 Sell (2,500) 0.895 Open Market Fund 8/22/2006 Buy 75,000 0.860 Open Market Fund 8/22/2006 Buy 10,000 0.824 Open Market Fund 8/23/2006 Buy 4,600 0.805 Open Market Fund 8/24/2006 Buy 22,200 0.823 Open Market Fund 8/25/2006 Sell (2,900) 0.842 Open Market Fund 8/25/2006 Buy 23,300 0.851 Open Market Fund 8/28/2006 Buy 19,500 0.860 Open Market Fund 8/30/2006 Sell (2,500) 0.865 Open Market Fund 8/30/2006 Buy 12,300 0.859 Open Market Fund 8/31/2006 Buy 48,500 0.877 Open Market Fund 9/6/2006 Buy 100,000 0.870 Open Market Fund 9/7/2006 Buy 28,000 0.780 Open Market Fund 9/12/2006 Sell (2,500) 0.785 Open Market Fund 9/12/2006 Buy 5,000 0.805 Open Market Fund 9/13/2006 Buy 2,900 0.855 Open Market Fund 9/27/2006 Buy 27,000 0.805 Open Market Fund 9/29/2006 Buy 200 0.805 Open Market Fund 10/2/2006 Sell (7,500) 0.605 Open Market Fund 10/2/2006 Buy 17,000 0.532 Open Market Fund 10/2/2006 Buy 1,700 0.510 Open Market Fund 10/3/2006 Sell (2,600) 0.415 Open Market Fund 10/3/2006 Buy 5,000 0.471 Open Market Fund 10/3/2006 Buy 5,000 0.461 Open Market Fund 10/3/2006 Buy 75,000 0.453 Open Market Fund 10/3/2006 Buy 28,000 0.440 Open Market Fund 10/3/2006 Buy 5,000 0.481 Open Market Fund 10/4/2006 Buy 62,000 0.444 Open Market Fund 10/5/2006 Buy 10,000 0.435 Open Market Fund 10/6/2006 Sell (400) 0.425 Open Market Fund 10/6/2006 Buy 4,000 0.455 Open Market Fund 10/11/2006 Buy 5,000 0.432 Open Market Fund 10/11/2006 Buy 10,000 0.441 Open Market Fund 10/11/2006 Buy 10,000 0.441 Open Market Fund 10/11/2006 Buy 5,000 0.441 Open Market Fund 10/18/2006 Buy 2,200 0.391 Open Market Fund 10/19/2006 Buy 5,000 0.352 Open Market Fund 10/23/2006 Buy 10,000 0.375 Open Market Fund 10/24/2006 Buy 8,000 0.395 Open Market Fund 10/25/2006 Buy 10,000 0.385 Open Market Fund 10/27/2006 Buy 13,300 0.365 Open Market Fund 10/30/2006 Buy 6,700 0.365 Open Market CUSIP No. G11152108 13D Page 12 of 13 Pages ______________________________________________________________________ Item 5 (c)-Continued No. of Shares Price Reporting Buy/ Purchased Per Person Trade Date Sell (Sold) Share How effected Fund 10/30/2006 Buy 70,000 0.360 Open Market Fund 10/31/2006 Buy 47,000 0.370 Open Market Fund 12/11/2006 Buy 10,000 0.285 Open Market Fund 12/12/2006 Buy 82,000 0.333 Open Market Fund 12/14/2006 Buy 10,000 0.285 Open Market Fund 12/15/2006 Buy 25,000 0.355 Open Market Fund 12/20/2006 Buy 21,000 0.289 Open Market Fund 12/21/2006 Buy 5,000 0.305 Open Market Fund 12/21/2006 Buy 42,000 0.310 Open Market Private Fund 3/5/2007 Buy 5,600,000 0.250 Placement CUSIP No. G11152108 13D Page 13 of 13 Pages ______________________________________________________________________ Item 5--continued (d) Not Applicable (e) Not Applicable Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer None Item 7. Material to Be Filed as Exhibits None 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. March 7, 2007 _________________________________ Date /s/ Harris B. Kupperman _________________________________ Signature Praetorian Offshore Ltd. By: Praetorian Capital Management LLC Its: Investment Manager By: Harris B. Kupperman Its: President _________________________________ Name/Title Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) -----END PRIVACY-ENHANCED MESSAGE-----