-----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, GQqzts4TsBZIC5MJLOTB/3ECkdWbS9hDTiDsjILp297TnpxNLz755QxxcvUECSNN +gWbOawzKaLovM0KabdEQw== 0000909012-09-001010.txt : 20090623 0000909012-09-001010.hdr.sgml : 20090623 20090623115914 ACCESSION NUMBER: 0000909012-09-001010 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090623 DATE AS OF CHANGE: 20090623 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TELOS CORP CENTRAL INDEX KEY: 0000320121 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 520880974 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-34123 FILM NUMBER: 09904870 BUSINESS ADDRESS: STREET 1: 19886 ASHBURN ROAD CITY: ASHBURN STATE: VA ZIP: 20147 BUSINESS PHONE: 7034716000 MAIL ADDRESS: STREET 1: 19886 ASHBURN ROAD CITY: ASHBURN STATE: VA ZIP: 20147 FORMER COMPANY: FORMER CONFORMED NAME: C3 INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Grand Slam Asset Management LLC CENTRAL INDEX KEY: 0001338287 IRS NUMBER: 233779105 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE BRIDGE PLAZA, SUITE 355 CITY: FORT LEE STATE: NJ ZIP: 07024 BUSINESS PHONE: 201-346-4335 MAIL ADDRESS: STREET 1: ONE BRIDGE PLAZA, SUITE 355 CITY: FORT LEE STATE: NJ ZIP: 07024 SC 13D/A 1 t305460.txt TELOS UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A (Amendment No. 1) UNDER THE SECURITIES EXCHANGE ACT OF 1934 Telos Corporation - -------------------------------------------------------------------------------- (Name of Issuer) 12% Cumulative Exchangeable Redeemable Preferred Stock, $0.01 par value per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 8796B200 -------------------------------------------------------------- (CUSIP Number) Grand Slam Asset Management, LLC 2200 Fletcher Avenue Fort Lee, New Jersey 07024 (201) 346-4335 Attn: Mitchell Sacks - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 23, 2008 -------------------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. |_| 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. 8796B200 SCHEDULE 13D/A Page 2 of 5 - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Grand Slam Asset Management, LLC IRS # 22-3779105 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| Joint Filing (b) - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- NUMBER OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 49,103 EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -0- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 49,103 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 49,103 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.54% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IA CUSIP NO. 987824109 SCHEDULE 13D/A Page 3 of 5 - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Grand Slam Capital Master Fund, Ltd. IRS # 20-0239056 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -0- NUMBER OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 49,103 EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -0- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 49,103 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 49,103 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.54% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- CUSIP NO. 987824109 SCHEDULE 13D/A Page 4 of 5 This Amendment No. 1 amends and supplements the Schedule 13D initially filed with the Securities and Exchange Commission (the "SEC") on February 14, 2007 (the "Statement") by and on behalf of Grand Slam Capital Master Fund, Ltd., a Cayman Islands exempted company (the "Master Fund") and Grand Slam Asset Management, LLC, a Delaware limited liability company ("Asset Management" and, ogether with Master Fund, the "Reporting Parties) with respect to the 12% Cumulative Exchangeable Redeemable Preferred Stock, par value $0.01 per share (the "Preferred Stock"), of Telos Corporation, a Maryland corporation (the "Issuer"). Items 4 and 5 of the Statement are hereby amended to the extent hereinafter expressly set forth. All capitalized terms used and not expressly defined herein have the respective meanings ascribed to such terms in the Statement. Item 4 of the Statement is amended by the following: ITEM 4. PURPOSE OF TRANSACTION The Reporting Parties have disposed of the Shares, as described in this Statement, in the ordinary course of business. Items 5(a), 5(c) and 5(e) of the Statement are hereby amended and supplemented as follows: ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As of the date of the filing of this Schedule 13D/A, the Reporting Parties beneficially own an aggregate of Shares representing approximately 1.54% of the issued and outstanding shares of Preferred Stock of the Issuer. The percentage ownership of the Reporting Parties in the Issuer's capital stock is based on 3,185,586 issued and outstanding shares of the Preferred Stock as reported by the Issuer in its Annual Report on Form 10-K for the fiscal year ended September 30, 2008, filed with the SEC. The managers of Asset Management do not beneficially own any shares of Preferred Stock. Since Asset Management may be deemed to control, directly or indirectly, Master Fund, Asset Management may be deemed to have the power to direct the vote or disposition of the Shares, and accordingly, may be deemed, for purposes of determining beneficial ownership pursuant to Rule 13d-3 under the Exchange Act, to beneficially own the Shares held by Master Fund. (c) The transactions effected during the 60 day period prior to the date of the event requiring the filing of this Schedule 13D/A are reproduced below:
- -------------------------------- ----------------------------- ----------------------------- ------------------------------ DATE OF TRANSACTION TRANSACTION TYPE NUMBER OF SHARES OF PRICE PER SHARE $) PREFERRED STOCK - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 10/29/2008 Purchase 100 12.13 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/5/2008 Purchase 200 11.58 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/10/2008 Purchase 200 11.13 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/11/2008 Purchase 1,000 7.14 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/18/2008 Purchase 171 10.27 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/19/2008 Sale 2,500 12.97 - -------------------------------- ----------------------------- ----------------------------- ------------------------------ - -------------------------------- ----------------------------- ----------------------------- ------------------------------ 12/23/2008 Sale 3,000 12.97 - -------------------------------- ----------------------------- ----------------------------- ------------------------------
1 CUSIP NO. 987824109 SCHEDULE 13D/A Page 5 of 5 (e) The Reporting Parties ceased to be the beneficial owners of more than 5% of the Preferred Stock on December 23, 2008. 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: June 23, 2009 Grand Slam Capital Master Fund, Ltd. By: /s/ Mitchell Sacks --------------------------------------- Name: Mitchell Sacks Title: Director Dated: June 23, 2009 Grand Slam Asset Management, LLC By: /s/ Mitchell Sacks --------------------------------------- Name: Mitchell Sacks Title: Member -----END PRIVACY-ENHANCED MESSAGE-----