0001169232-05-001538.txt : 20120629
0001169232-05-001538.hdr.sgml : 20120629
20050308061253
ACCESSION NUMBER: 0001169232-05-001538
CONFORMED SUBMISSION TYPE: SC 13G/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050308
DATE AS OF CHANGE: 20050308
GROUP MEMBERS: DAVID F. FIRESTONE
GROUP MEMBERS: MERCATOR MOMENTUM FUND III, L.P.
GROUP MEMBERS: MERCATOR MOMENTUM FUND, L.P.
GROUP MEMBERS: MONARCH POINTE FUND, LTD.
GROUP MEMBERS: PENTAGON SPECIAL PURPOSE FUND, LTD.
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: Multicell Technologies Inc.
CENTRAL INDEX KEY: 0000811779
STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
IRS NUMBER: 521412493
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1130
FILING VALUES:
FORM TYPE: SC 13G/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-39597
FILM NUMBER: 05665380
BUSINESS ADDRESS:
STREET 1: 55 ACCESS ROAD
STREET 2: SUITE 700
CITY: WARWICK
STATE: RI
ZIP: 02886
BUSINESS PHONE: (401)738-7560
MAIL ADDRESS:
STREET 1: 55 ACCESS ROAD
STREET 2: SUITE 700
CITY: WARWICK
STATE: RI
ZIP: 02886
FORMER COMPANY:
FORMER CONFORMED NAME: EXTEN INDUSTRIES INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: EXTEN VENTURES INC
DATE OF NAME CHANGE: 19910923
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: M.A.G. Capital, LLC
CENTRAL INDEX KEY: 0001218181
IRS NUMBER: 300021359
FILING VALUES:
FORM TYPE: SC 13G/A
BUSINESS ADDRESS:
STREET 1: 555 S. FLOWER ST.
STREET 2: SUITE 4500
CITY: LOS ANGELES
STATE: CA
ZIP: 90071
BUSINESS PHONE: 2135338288
MAIL ADDRESS:
STREET 1: 555 SOUTH FLOWER ST.
STREET 2: SUITE 4500
CITY: LOS ANGELES
STATE: CA
ZIP: 90071
FORMER COMPANY:
FORMER CONFORMED NAME: MERCATOR ADVISORY GROUP LLC
DATE OF NAME CHANGE: 20030210
SC 13G/A
1
d62880_sc13g-a.txt
AMEND NO. 2 TO SCHEDULE 13G
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
MULTICELL TECHNOLOGIES, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
302240 40 3
(CUSIP Number)
February 11, 2005
(Date of Event Which Requires Filing of this Statement)
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 2 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mercator Momentum Fund, L.P.
EIN:03-0021366
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 7,411,475
EACH ----------------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH 0
----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
7,411,475
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,411,475
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.79%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
-2-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 3 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mercator Momentum Fund III, L.P.
EIN:32-0056070
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 5,183,852
EACH ----------------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH 0
----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
5,183,852
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,183,852
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.38%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
-3-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 4 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monarch Pointe Fund, Ltd.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 12,894,267
EACH ----------------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH 0
----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
12,894,267
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,894,267
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.17%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
-4-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 5 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Pentagon Special Purpose Fund, Ltd.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6,583,333
EACH ----------------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH 0
----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
6,583,333
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,583,333
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.31%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-5-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 6 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
M.A.G. Capital, LLC
EIN: 300021359
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
15,283,690, some of which are held by Mercator Momentum
Fund and Mercator Momentum Fund III (together, the
"Funds"), some of which are owned by Monarch Pointe Fund,
NUMBER OF Ltd. ("MPF"), some of which are owned by Pentagon Special
SHARES Purpose Fund, Ltd. ("Pentagon") and some of which are owned
BENEFICIALLY by M.A.G. Capital, LLC ("MAG"). MAG is the general partner
OWNED BY of the Funds and controls the investments of MPF and
EACH Pentagon.
REPORTING ----------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH
0
----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
15,283,690, some of which are held by the Funds, some by
MPF, some by Pentagon and some by MAG.
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,283,690
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
-6-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 7 of 14 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David F. Firestone
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF 15,283,690, all of which are held by the Funds, MPF,
SHARES Pentagon and MAG. David F. Firestone is Managing Member of
BENEFICIALLY MAG.
OWNED BY ----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
15,283,690, all of which are held by the Funds, MPF,
Pentagon and MAG. David F. Firestone is Managing Member of
MAG.
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,283,690
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-7-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 8 of 14 Pages
This statement is hereby amended and restated in its entirety as follows:
Item 1. Issuer.
(a) The name of the issuer is MultiCell Technologies, Inc. (the "Issuer").
(b) The address of the Issuer's principal executive office is 55 Access
Road, Suite 700, Warwick, RI 02886.
Item 2. Reporting Person and Security.
(a) Mercator Momentum Fund, L.P. ("Momentum Fund") and Mercator Momentum
Fund III, L.P. ("Momentum Fund III" and, with Momentum Fund, the "Funds") are
private investment limited partnerships organized under California law. The
general partner of each of the Funds is M.A.G. Capital, LLC ("MAG"), a
California limited liability company. David F. Firestone is the Managing Member
of MAG. Monarch Pointe Fund, Ltd. ("MPF") is a corporation organized under the
laws of the British Virgin Islands. MAG controls the investments of MPF.
Pentagon Special Purpose Fund, Ltd. ("Pentagon") is a corporation organized
under the laws of the British Virgin Islands. MAG controls the investments of
Pentagon in the Issuer's securities. The Funds, MPF, Pentagon, MAG and David F.
Firestone are referred to herein as the "Reporting Persons."
(b) The business address of each of the Funds, MAG and David F. Firestone
is 555 S. Flower Street, Suite 4200, Los Angeles, CA 90071. The business address
of MPF is c/o Bank of Ireland Securities Services, Ltd., New Century House,
International Financial Services Center, Mayor Street Lower, Dublin 1, Republic
of Ireland. The business address of Pentagon is c/o Olympia Capital (Ireland)
Limited, Harcourt Centre, 6th Floor, Block 3, Harcourt Road, Dublin 2, Ireland.
(c) Each of the Funds is a California limited partnership. MAG, their
general partner, is a California limited liability company. MPF and Pentagon are
corporations organized under the laws of the British Virgin Islands.
(d) The title of the class of securities to which this statement relates
is the common stock of the Issuer, par value $0.01 per share (the "Common
Stock").
(e) The CUSIP number is 302240 40 3.
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b) or 13d-2(b) or (c),
Check Whether the Person Filing is a:
(a) |_| Broker or dealer registered under Section 15 of the Act (15 U.S.C.
78o).
(b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) |_| Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
-8-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 9 of 14 Pages
(d) |_| Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) |_| An investment adviser in accordance with ss.
240.13d-1(b)(1)(ii)(E).
(f) |_| An employee benefit plan or endowment fund in accordance with ss.
240.13d-1(b)(1)(ii)(F).
(g) |_| A parent holding company or control person in accordance with ss.
240.13d-1(b)(1)(ii)(G).
(h) |_| A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3).
(j) |_| Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
Not Applicable.
Item 4. Ownership.
The Funds, MPF, Pentagon and MAG each own warrants to purchase shares of
Common Stock. The Funds, Pentagon and MPF each own shares of Common Stock. The
Funds and MPF each own shares of the Issuer's Series I Preferred Stock (the
"Series I Stock") which is convertible into Common Stock. Each share of Series I
Stock is convertible into the number of shares of Common Stock determined by
dividing $100 by the Conversion Price at the time of conversion. The Conversion
Price is defined as 80% of the average of the lowest three inter-day trading
prices of the Common Stock during the ten trading days preceding the conversion;
providing, however, that the Conversion Price may not be less than $0.05 or more
than $0.20, adjusted for stock splits and similar events. The documentation
governing the terms of the warrants and the Series I Stock contains provisions
prohibiting any exercise of the warrants or conversion of Series I Stock that
would result in the Reporting Persons owning beneficially more than 9.99% of the
outstanding shares of Common Stock as determined under Section 13(d) of the
Securities Exchange Act of 1934. As a result of these provisions, the Reporting
Persons have never had beneficial ownership of more than 9.99% of the
outstanding shares of Common Stock.
As of February 11, 2005, the Funds, MPF, Pentagon and MAG owned the
following securities of the Issuer:
Momentum Fund owned 2,322,737 shares of Common Stock, 5,580 shares of
Series I Stock and warrants to purchase up to 2,298,738 shares of Common Stock.
Momentum Fund III owned 1,599,658 shares of Common Stock, 3,960 shares of
Series I Stock and warrants to purchase up to 1,604,194 shares of Common Stock.
-9-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 10 of 14 Pages
MPF owned 4,667,199 shares of Common Stock, 8,460 shares of Series I Stock
and warrants to purchase up to 3,997,068 shares of Common Stock.
Pentagon owned 3,333,333 shares of Common Stock and warrants to purchase
up to 3,250,000 shares of Common Stock.
MAG owned warrants to purchase up to 6,525,000 shares of Common Stock.
David F. Firestone owned no securities of the Issuer directly.
The right to vote and the right to dispose of the shares beneficially
owned by Momentum Fund, Momentum Fund III, MPF and Pentagon are, in each case,
shared among either Momentum Fund, Momentum Fund III, MPF or Pentagon, as
applicable, and both MAG and David F. Firestone. The right to vote and the right
to dispose of the shares beneficially owned by MAG are shared by MAG and David
F. Firestone.
The Issuer had 122,962,463 shares of Common Stock outstanding as of
September 30, 2004, according to its Quarterly Report on Form 10-QSB for the
quarter ended September 30, 2004. For purposes of the calculations herein, it
has been assumed that as of February 11, 2005, the outstanding Common Stock of
the Issuer included the 122,962,463 shares reported as outstanding as of
September 30, 2004, plus (i) 11,333,334 shares of Common Stock purchased from
the Issuer by the Funds, MPF and Pentagon on February 11, 2005 and (ii) an
additional 15,333,333 shares of Common Stock which, according to the documents
governing the transactions described in clause (i), were purchased from the
Issuer on February 11, 2005 by persons other than the Reporting Persons and
affiliates thereof. Based on the foregoing assumptions, as of February 11, 2005,
the individual Reporting Persons had beneficial ownership of the following
numbers of shares of Common Stock which represented the following percentages of
the Common Stock outstanding:
Shares Owned Percentage
------------ ----------
Momentum Fund 7,411,475 4.79%
Momentum Fund III 5,183,852 3.38%
MPF 12,894,267 8.17%
Pentagon 6,583,333 4.31%
MAG 15,283,690 9.99%
David F. Firestone 15,283,690 9.99%
-10-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 11 of 14 Pages
The percentages of the outstanding Common Stock held by the Reporting
Parties Fund set forth above and on the cover pages to this report were
determined, using a Conversion Price of $0.20 with respect to the Series I
Stock.
Item 5. Ownership of Five Percent or Less of a Class.
If this Schedule is being filed to report the fact that as of the date
hereof the Reporting Person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [__]
Not Applicable.
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.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certifications.
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.
-11-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 12 of 14 Pages
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: February 28, 2005 MERCATOR MOMENTUM FUND, L.P.
By: M.A.G. CAPITAL, LLC,
its general partner
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
Dated: February 28, 2005 MERCATOR MOMENTUM FUND III, L.P.
By: M.A.G. CAPITAL, LLC,
its general partner
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
Dated: February 28, 2005 MONARCH POINTE FUND, LTD.
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Director
Dated: February 28, 2005 PENTAGON SPECIAL PURPOSE FUND, LTD.
By: /s/ Carolyn D. Hiron
----------------------------------
Carolynn D. Hiron, Director
Dated: February 28, 2005 M.A.G. CAPITAL, LLC
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
Dated: February 28, 2005
/s/ David F. Firestone
--------------------------------------
David F. Firestone
-12-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 13 of 14 Pages
EXHIBIT INDEX
Exhibit A Agreement of Joint Filing
-13-
SCHEDULE 13G
CUSIP No. 302240 40 3 Page 14 of 14 Pages
EXHIBIT A
AGREEMENT OF JOINT FILING
The undersigned hereby agree that they are filing jointly pursuant to Rule
13d-1 of the Securities Exchange Act of 1934 a report on Schedule 13G,
containing the information required by Schedule 13G, for shares of the common
stock of MultiCell Technologies, Inc. beneficially owned by Mercator Momentum
Fund, L.P., Mercator Momentum Fund III, L.P., Monarch Pointe Fund, Ltd.,
Pentagon Special Purpose Fund, Ltd., M.A.G. Capital, LLC and David F. Firestone
and such other holdings as may be reported therein.
Dated: February 28, 2005
MERCATOR MOMENTUM FUND, L.P.
By: M.A.G. CAPITAL, LLC,
its general partner
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
MERCATOR MOMENTUM FUND III, L.P.
By: M.A.G. CAPITAL, LLC,
its general partner
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
MONARCH POINTE FUND, LTD.
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Director
PENTAGON SPECIAL PURPOSE FUND, LTD.
By: /s/ Carolynn D. Hiron
----------------------------------
Carolynn D. Hiron, Director
M.A.G. CAPITAL, LLC
By: /s/ Harry Aharonian
----------------------------------
Harry Aharonian, Portfolio Manager
/s/ David F. Firestone
--------------------------------------
David F. Firestone
-14-