-----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, AVyPm149TZ7FdN6rfm8DiQiMkWPp/nt/3VNT99UE98ANEpwpPygUdHMAiw4aWya9 NPBCgjguYZ6kSbVoS2l1fQ== 0001164073-05-000025.txt : 20050802 0001164073-05-000025.hdr.sgml : 20050802 20050802142452 ACCESSION NUMBER: 0001164073-05-000025 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050802 DATE AS OF CHANGE: 20050802 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ELECTRONIC SYSTEMS TECHNOLOGY INC CENTRAL INDEX KEY: 0000752294 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 911238077 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-56635 FILM NUMBER: 05991393 BUSINESS ADDRESS: STREET 1: 415 N QUAY STREET CITY: KENNEWICK STATE: WA ZIP: 99336 BUSINESS PHONE: 5097359092 MAIL ADDRESS: STREET 1: 415 N QUAY #4 CITY: KENNEWICK STATE: WA ZIP: 99336 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HUMMINGBIRD MANAGEMENT LLC CENTRAL INDEX KEY: 0001164073 IRS NUMBER: 134082842 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 460 PARK AVENUE, 12TH FL CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2125210974 MAIL ADDRESS: STREET 1: 460 PARK AVENUE, 12TH FL CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: MORNINGSIDE VALUE INVESTORS LLC DATE OF NAME CHANGE: 20011226 SC 13D/A 1 elst13da-050802.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (RULE 13D-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) Amendment No. 2 Electronic Systems Technology, Inc. (NAME OF ISSUER) Common Stock (TITLE OF CLASS OF SECURITIES) 285848107 (CUSIP NUMBER) Paul D. Sonkin Hummingbird Management, LLC (f/k/a Morningside Value Investors, LLC) 460 Park Avenue, 12th Floor New York, New York 10022 (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) May 31. 2005 (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 Rule 13d-1(e), 13d-1(f) or 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(b) for other parties to whom copies are to be sent. (Continued on following pages) - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 2 of 15 Pages - ------------------------ ---------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hummingbird Management, LLC (f/k/a Morningside Value Investors, LLC) IRS No. 13-4082842 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 585,352 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 585,352 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 585,352 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 3 of 15 Pages - ------------------------ ---------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Paul D. Sonkin - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 585,352 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 585,352 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 585,352 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 4 of 15 Pages - ------------------------ ---------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hummingbird Capital, LLC (f/k/a Morningside Capital, LLC) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 585,352 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 585,352 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 585,352 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 5 of 15 Pages - ------------------------ ---------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hummingbird Value Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 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 DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 303,334 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 303,334 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 303,334 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON LP ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 6 of 15 Pages - ------------------------ ---------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hummingbird Microcap Value Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 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 DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 223,826 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 223,826 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 223,826 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON LP ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 7 of 15 Pages - ------------------------ ---------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Tarsier Nanocap Value Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 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 DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 61,192 OWNED BY EACH REPORTING PERSON WITH ----------------------------------------------------------------- 8 SHARED VOTING POWER -0- ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 61,192 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 61,192 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON LP ================================================================================ - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 8 of 15 Pages - ------------------------ ---------------------------- AMENDMENT NO. 2 TO SCHEDULE 13D This Amendment No. 2, dated August 2, 2005 to Schedule 13D is filed by the Reporting Persons and amends the Schedule the 13D as previously filed by the Reporting Persons with the Securities and Exchange Commission on January 26, 2005 (the "Schedule 13D"),relating to the common Stock, $.001 par value (the "Common Stock") of ELECTRONIC SYSTEMS TECHNOLOGY, INC. a Washington Corporation. Items 2, 3 and 5 are hereby amended and restated, as follows: ITEM 2 IDENTITY AND BACKGROUND This statement is being filed by Hummingbird Management, LLC (f/k/a Morningside Value Investors, LLC), a Delaware limited liabilitycompany ("Hummingbird"), whose principal business and principal office address is 460 Park Avenue, 12th Floor, New York, New York 10022. Hummingbird acts as investment manager to The Hummingbird Value Fund, L.P. ("HVF") , to The Hummingbird Microcap Value Fund, L.P. (the "Microcap Fund") and to The Tarsier Nanocap Value Fund, L.P. (the Tarsier Fund"), and has the sole investment discretion and voting authority with respect to the investments owned of record by each of HVF, Microcap Fund, and Tarsier Fund. Accordingly, Hummingbird may be deemed for purposes of Rule 13d-3 of the Securities and Exchange Act of 1934, as amended ("Rule 13d-3"), to be the beneficial owner of the Shares owned by HVF, Microcap Fund, and Tarsier Fund. The managing member of Hummingbird is Paul Sonkin. Mr. Sonkin is also the managing member of Hummingbird Capital, LLC (f/k/a Morningside Capital, LLC), a Delaware limited liability company ("HC", and together with Hummingbird, HVF, Microcap Fund, Tarsier Fund, and Mr. Sonkin, the "Reporting Persons"), the general partner of each of HVF, Microcap Fund, and Tarsier Fund. Both HVF, Microcap Fund, and Tarsier Fund are Delaware limited partnerships whose principal business and principal office address is 460 Park Avenue, 12th Floor, New York, New York, 10022 and whose principal business is investing in securities in order to achieve its investment objectives. Mr. Sonkin is a citizen of the United States and HC is a Delaware limited liability company. The principal business of Mr. Sonkin is acting a managing member of each of Hummingbird and HC. The principal business of HC isacting as general partner of each of HVF, Microcap Fund, and Tarsier Fund. The principal office address of each of Mr. Sonkin and HC is 460 Park Avenue, 12th Floor, New York, New York 10022. During the past five years none of Hummingbird, HVF, Microcap Fund, Tarsier Fund, Mr. Sonkin or HC has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of which any of the foregoing was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandatingactivities subject to, Federal or State securities laws, or finding any violation with respect to such laws. - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 9 of 15 Pages - ------------------------ ---------------------------- ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION As of August 1, 2005, Hummingbird has caused HVF, Microcap Fund, and Tarsier Fund to invest approximately $194,898, $147,960, and $46,290, respectively, in the Shares of the Issuer using their working capital. ITEM 5 INTEREST IN SECURITIES OF THE ISSUER (a) As investment manager of HVF, Microcap Fund, and Tarsier Fund, Hummingbird may be deemed to have the sole voting and investment authority over the Shares owned by HVF, Microcap Fund, and Tarsier Fund, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended ("Rule 13d-3"), may be deemed to be the beneficial owner of 585,352 Shares representing approximately 11.4% of the outstanding shares of the Issuer (based upon 5,148,667 shares of Common Stock outstanding as of May 12, 2005 as reported on Form 10-QSB for the period ended March 31, 2005.) Hummingbird disclaims any beneficial ownership of the Shares covered by this Statement. Mr. Sonkin is the managing member and control person of Hummingbird, and for purposes of Rule 13d-3 may be deemed the beneficial owner of such Shares deemed to be beneficially owned by Hummingbird. Thus, Mr. Sonkin may be deemed, for purposes of Rule 13d-3, to be may be deemed to be the beneficial owner of 585,352 Shares representing approximately 11.4% of the outstanding shares of the Issuer (based upon 5,148,667 shares of Common Stock outstanding as of May 12, 2005 as reported on Form 10-QSB for the period ended March 31, 2005.) Mr. Sonkin disclaimsany economic interest or beneficial ownership of the Shares covered by this Statement. - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 10 of 15 Pages - ------------------------ ---------------------------- HC, as the general partner of each of HVF, Microcap Fund, and Tarsier Fund, Hummingbird may be deemed to have the sole voting and investment authority over the Shares owned by HVF, Microcap Fund, and Tarsier Fund, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended ("Rule 13d-3"), may be deemed to be the beneficial owner of 585,352 Shares representing approximately 11.4% of the outstanding shares of the Issuer (based upon 5,148,667 shares of Common Stock outstanding as of May 12, 2005 as reported on Form 10-QSB for the period ended March 31, 2005.) HC disclaims anybeneficial ownership of the Shares covered by this Statement. HVF is the beneficial owner of 303,334 Shares or 11.4% of the outstanding shares of the Issuer. Microcap Fund is the beneficial owner of 223,826 Shares or 4.3% of the outstanding shares of the Issuer. Tarsier Fund is the beneficial owner of 531,224 Shares or 1.2% of the outstanding shares of the Issuer. (c) Hummingbird caused HVF to effect transactions in the Shares during the past 60 days as set forth below:
NUMBER OF DATE TYPE SHARES PRICE/SHARE ---- ---- ------ ----------- 7/18/2005 open market purchase 2,000 0.73 7/26/2005 open market purchase 3,500 0.73 7/27/2005 open market purchase 5,200 0.73
- ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 11 of 15 Pages - ------------------------ ---------------------------- Hummingbird caused the Microcap Fund to effect transactions in the Shares during the past 60 days as set forth below: NUMBER OF
NUMBER OF DATE TYPE SHARES PRICE/SHARE ---- ---- ------ ----------- 5/31/2005 open market purchase 3,250 0.76 7/18/2005 open market purchase 2,000 0.73 7/26/2005 open market purchase 3,500 0.73 7/27/2005 open market purchase 5,200 0.73
- ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 12 of 15 Pages - ------------------------ ---------------------------- Hummingbird caused the Tarsier Fund to effect transactions in the Shares during the past 60 days as set forth below: NUMBER OF
NUMBER OF DATE TYPE SHARES PRICE/SHARE ---- ---- ------ ----------- 6/16/2005 open market purchase 27,971 0.7572 7/18/2005 open market purchase 1,000 0.73 7/20/2005 open market purchase 10,750 0.73 7/26/2005 open market purchase 3,000 0.73
(d) Inapplicable. (e) Inapplicable. - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 13 of 15 Pages - ------------------------ ---------------------------- ITEM 6 Inapplicable ITEM 7 MATERIAL TO BE FILED AS EXHIBITS Exhibit Exhibit No. Description --- --------------------------------------------------------------- 1 Joint Filing Agreement dated May 31, 2005 by and among Hummingbird Management, LLC (f/ka Morningside Value Investors, LLC), Hummingbird Value Fund, L.P., Hummingbird Mircocap Value Fund, L.P., Tarsier Nanocap Value Fund, L.P, Hummingbird Capital, LLC (f/k/a Morningside Capital, LLC) and Paul Sonkin. SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: August 2, 2005 HUMMINGBIRD MANAGEMENT, LLC (f/k/a Morningside Value Investors, LLC) By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member /s/ Paul D. Sonkin ------------------------------------- PAUL D. SONKIN HUMMINGBIRD VALUE FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member HUMMINGBIRD MICROCAP VALUE FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 14 of 15 Pages - ------------------------ ---------------------------- Tarsier Nanocap Value FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member HUMMINGBIRD CAPITAL, LLC (f/k/a Morningside Capital, LLC) By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin - ------------------------ ---------------------------- CUSIP No. 285848107 13D/A Page 15 of 15 Pages - ------------------------ ---------------------------- 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 May 31, 2005 (including amendments thereto) with respect to the Common Stock of Electronic Systems Technology, Inc. This Joint Filing Agreement shall be filed as an Exhibit to such Statement. Dated: August 2, 2005 HUMMINGBIRD MANAGEMENT, LLC (f/k/a Morningside Value Investors, LLC) By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member /s/ Paul D. Sonkin ------------------------------------- PAUL D. SONKIN HUMMINGBIRD VALUE FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member HUMMINGBIRD MICROCAP VALUE FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member TARSIER NANOCAP VALUE FUND, L.P. By: Hummingbird Capital, LLC By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member HUMMINGBIRD CAPITAL, LLC (f/k/a Morningside Capital, LLC) By: /s/ Paul D. Sonkin --------------------------------- Name: Paul D. Sonkin Title: Managing Member -----END PRIVACY-ENHANCED MESSAGE-----