-----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, GIdDVQEWqUzOOxnvE57/cEt6UmMSyFRV3N3xtaB2s8htbkW6EaH55ecI9fFu519I RD93CN/cM+NZkzG8dmnSlg== 0000935836-99-000103.txt : 19990302 0000935836-99-000103.hdr.sgml : 19990302 ACCESSION NUMBER: 0000935836-99-000103 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990301 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GARDENBURGER INC CENTRAL INDEX KEY: 0000859735 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030] IRS NUMBER: 930886359 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-49503 FILM NUMBER: 99552948 BUSINESS ADDRESS: STREET 1: 1411 SW MORRISON STREET 2: SUITE 400 CITY: PORTLAND STATE: OR ZIP: 97205 BUSINESS PHONE: 5032051500 MAIL ADDRESS: STREET 1: 1411 SW MORRISON STE 400 CITY: PORTLAND STATE: OR ZIP: 97205 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0000909450 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 50 OSGOOD PLACE PENTHOUSE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4159811039 MAIL ADDRESS: STREET 1: 50 OSGOOD PLACE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19951108 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19930720 SC 13D 1 [1] OMB APPROVAL OMB Number:3235-0145 Expires:December 31, 1997 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) * Gardenburger Inc. * - ----------------------------------------------------------------- Common Stock * 365476100 * Elizabeth D. Giorgis Gruber and McBaine Capital Management 50 Osgood Place, Penthouse San Francisco, CA 94133 (415) 981-2101 - ----------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) * November 25, 1998 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 Rule 13d- 1(b)(3) or (4), check the following box / /. Check the following box if a fee is being paid with the statement / /. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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). SEC 1746 (12-91) [2] SCHEDULE 13D CUSIP No. 365476100 Page 2 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GRUBER & McBAINE CAPITAL MANAGEMENT, L.L.C. - ----------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - ----------------------------------------------------------------- 3 SEC USE ONLY - ----------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - ----------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 538,850 REPORTING ------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 538,850 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 538,850 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.17 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [3] SCHEDULE 13D CUSIP No. 365476100 Page 3 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON JON D. GRUBER - ----------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - ----------------------------------------------------------------- 3 SEC USE ONLY - ----------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - ----------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 69,150 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 538,850 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 69,150 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 538,850 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 608,000 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.96 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [4] SCHEDULE 13D CUSIP No. 365476100 Page 4 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON J. PATTERSON McBAINE - ----------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X / (b) / / - ----------------------------------------------------------------- 3 SEC USE ONLY - ----------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - ----------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 41,200 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 538,850 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 41,200 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 538,850 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 580,050 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.64 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [5] SCHEDULE 13D CUSIP No. 365476100 Page 5 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON LAGUNITAS PARTNERS, A California Limited Partnership - ----------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 250,250 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 250,250 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 250,250 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.87 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [6] SCHEDULE 13D CUSIP No. 365476100 Page 6 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GMJ INVESTMENTS, A California Limited Partnership - ----------------------------------------------------------------- 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 ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CALIFORNIA - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2500 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2500 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.03 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. [7] SCHEDULE 13D CUSIP No. 365476100 Page 7 of 17 Pages - ----------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON THOMAS O. LLOYD-BUTLER - ----------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - ----------------------------------------------------------------- 3 SEC USE ONLY - ----------------------------------------------------------------- 4 SOURCE OF FUNDS* PF, AF - ----------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - ----------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - ----------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 538,850 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 538,850 - ----------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 538,850 - ----------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.17 - ----------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - ----------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 365476100 Page 8 of 17 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of Gardenburger Inc. ("GBUR"). The principal executive office of GBUR is located at 1411 SW Morrison, Suite 400, Portland, OR 97205. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) Gruber and McBaine Capital Management, L.L.C. (LLC); Jon D. Gruber (Gruber); J. Patterson McBaine (McBaine); Thomas O. Lloyd- Butler (TLB); Lagunitas Partners, L.P., a California limited partnership (Lag); GMJ Investments, L.P., a California limited partnership (GMJ). (b) The business address of LLC, Gruber, McBaine, TLB, Lag and GMJ is 50 Osgood Place, Penthouse, San Francisco, CA 94133. (c) LLC is an investment adviser. Gruber and McBaine are the Managers of LLC and TLB is a member of LLC. Lag and GMJ are investment limited partnerships. LLC is the general partner of Lag and GMJ. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) All such persons are citizens of the United States of America. SCHEDULE 13D CUSIP No. 365476100 Page 9 of 17 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Stock were as follows: Purchaser Source of Funds Amount LLC Capital Under Management $3,382,302 Gruber Personal Funds $810,374 McBaine Personal Funds $473,025 Lag Working Capital $2,948,160 GMJ Working Capital $32,129 ITEM 4. PURPOSE OF TRANSACTION. The sole purpose of the purchase of the Stock reported herein was and is for investment. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared Lag 250,250 2.87 0 250,250 0 250,250 GMJ 2,500 0.03 0 2,500 0 2,500 LLC 538,850 6.17 0 538,850 0 538,850 Gruber608,000 6.96 69,150 538,850 0 538,850 McBaine580,050 6.64 41,200 538,850 0 538,850 TLB 538,850 6.17 0 538,850 0 538,850 Note: In addition to the shares reported, 45,000 shares are owned by an investment advisory client of LLC over which LLC does not have voting or dispositive power. Therefore, LLC disclaims beneficial ownership with respect to those shares. The persons filing this statement effected the following transactions in the Stock on the dates indicated, and such transactions are the only transactions in the Stock by the persons filing this statement since January 1, 1998: SCHEDULE 13D CUSIP No. 365476100 Page 10 of 17 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used LLC P 2/3/99 1400 11.31 INCA McBaine P 2/3/99 200 11.31 INCA LLC P 2/2/99 1800 11.56 INCA McBaine P 2/2/99 200 11.56 INCA Lag P 2/1/99 1000 11.56 INCA Lag P 2/1/99 2500 12.00 CHAS Gruber P 2/1/99 1000 12.00 CHAS LLC P 2/1/99 1500 12.00 CHAS Lag P 1/29/99 2000 12.00 OPCO Gruber P 1/29/99 1000 12.00 OPCO McBaine P 1/29/99 500 12.00 OPCO LLC P 1/29/99 1500 12.00 OPCO LLC P 1/7/99 4000 10.75 SHWD Gruber P 1/7/99 1000 10.75 SHWD Lag P 1/6/99 4500 10.63 SHWD Gruber P 1/6/99 1000 10.63 SHWD McBaine P 1/6/99 1000 10.63 SHWD LLC P 1/6/99 3500 10.63 SHWD Lag P 1/5/99 4000 11.00 SHWD LLC P 1/5/99 1000 11.00 SHWD LLC P 1/5/99 1600 10.69 INCA Lag P 12/31/98 2500 10.94 HRZG Lag P 12/30/98 3000 10.65 CHAS Gruber P 12/30/98 1500 10.65 CHAS McBaine P 12/30/98 500 10.65 CHAS Gruber P 12/22/98 2000 10.06 NITE Lag P 12/17/98 3000 10.12 INCA Gruber P 12/17/98 1000 10.12 INCA Lag P 12/16/98 3000 10.22 INCA Gruber P 12/16/98 1000 10.22 INCA Lag P 12/11/98 20000 9.13 HMQT LLC P 12/11/98 24000 9.13 HMQT Gruber P 12/11/98 5500 9.13 HMQT McBaine P 12/11/98 5500 9.13 HMQT Gruber P 12/11/98 1500 9.06 INCA McBaine P 12/11/98 500 9.06 INCA Lag P 12/10/98 7000 9.13 HMQT LLC P 12/10/98 5500 9.13 HMQT Gruber P 12/10/98 500 9.13 HMQT McBaine P 12/10/98 2000 9.13 HMQT LLC P 12/10/98 1000 9.06 INCA Gruber P 12/10/98 500 9.06 INCA SCHEDULE 13D CUSIP No. 365476100 Page 11 of 17 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used McBaine P 12/10/98 500 9.06 INCA Lag P 12/9/98 3000 8.97 INCA LLC P 12/9/98 5000 8.97 INCA Gruber P 12/9/98 1000 8.97 INCA McBaine P 12/9/98 1000 8.97 INCA Lag P 12/8/98 4000 9.81 INCA LLC P 12/8/98 1300 9.81 INCA Lag P 12/2/98 10000 10.25 HMQT LLC P 12/2/98 15000 10.25 HMQT Gruber P 12/2/98 3000 10.25 HMQT McBaine P 12/2/98 2000 10.25 HMQT Lag P 12/2/98 4500 10.26 INCA LLC P 12/2/98 1500 10.26 INCA Lag P 12/1/98 3700 10.36 INCA LLC P 12/1/98 5000 10.36 INCA Gruber P 12/1/98 2000 10.36 INCA McBaine P 12/1/98 500 10.36 INCA Lag P 11/25/98 5000 10.75 INCA LLC P 11/25/98 18700 10.75 INCA Lag P 11/24/98 2000 11.05 INCA LLC P 11/24/98 3300 11.05 INCA McBaine P 11/24/98 1000 11.05 INCA Lag P 11/24/98 10000 11.88 HMQT LLC P 11/24/98 5000 11.88 HMQT Lag P 11/23/98 2300 12.75 CHAS LLC P 11/23/98 5000 13.11 INCA LLC P 11/18/98 1200 11.75 INCA LLC P 11/17/98 1100 12.00 DAIN LLC P 11/17/98 500 11.94 INCA LLC P 11/16/98 1400 11.50 INCA Lag P 11/13/98 2000 11.50 INCA McBaine P 11/13/98 300 11.50 SHWD LLC P 11/13/98 2700 11.50 SHWD Lag P 11/12/98 1500 11.37 INCA LLC P 11/12/98 2000 11.37 INCA Lag P 11/11/98 7000 11.49 DAIN Gruber P 11/11/98 2000 11.49 DAIN McBaine P 11/11/98 1000 11.49 DAIN LLC P 11/11/98 2000 11.37 INCA Lag P 11/10/98 4000 11.74 INCA LLC P 11/10/98 1000 11.74 INCA Lag P 11/9/98 7000 11.17 INCA LLC P 11/9/98 2000 11.17 INCA Gruber P 11/9/98 2000 11.17 INCA SCHEDULE 13D CUSIP No. 365476100 Page 12 of 17 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used LLC P 11/5/98 9000 11.59 INCA Gruber P 11/5/98 3000 11.59 INCA McBaine P 11/5/98 1000 11.59 INCA McBaine P 11/4/98 3000 12.36 MONT Lag P 11/3/98 4000 12.44 INCA LLC P 11/3/98 3000 12.44 INCA Gruber P 11/3/98 1000 12.44 INCA Lag P 11/2/98 7800 12.76 INCA LLC P 11/2/98 1000 12.76 INCA McBaine P 11/2/98 1000 12.76 INCA Gruber P 10/30/98 1000 13.18 INCA LLC P 10/30/98 10600 13.18 INCA Lag P 10/29/98 1500 13.13 PIPR Gruber P 10/29/98 1000 13.13 PIPR LLC P 10/29/98 800 13.31 INCA Lag P 10/28/98 5000 13.16 INCA LLC P 10/28/98 3000 13.16 INCA Gruber P 10/28/98 1400 13.16 INCA LLC P 10/28/98 500 13.00 SHWD Lag P 10/23/98 8000 12.77 INCA LLC P 10/23/98 14000 12.77 INCA Gruber P 10/23/98 3500 12.77 INCA McBaine P 10/23/98 1000 12.77 INCA Lag P 10/22/98 5000 13.24 INCA Gruber P 10/22/98 1000 13.24 INCA LLC P 10/21/98 4900 13.04 INCA Lag P 10/20/98 5000 13.63 DAIN LLC P 10/20/98 2000 13.31 INCA Gruber P 10/20/98 1000 13.31 INCA LLC P 10/19/98 5000 13.28 DAIN Gruber P 10/19/98 1300 13.28 DAIN McBaine P 10/19/98 600 13.28 DAIN Lag P 10/15/98 3900 13.94 CHAS LLC P 10/15/98 1000 13.94 CHAS LLC P 10/15/98 500 12.81 INCA LLC P 10/15/98 500 13.63 PIPR Lag P 10/14/98 5000 12.02 INCA Gruber P 10/14/98 1000 12.02 INCA McBaine P 10/14/98 700 12.02 INCA McBaine P 10/14/98 700 12.71 OPCO LLC P 10/14/98 6300 12.71 OPCO LLC P 10/5/98 2000 10.44 INCA Gruber P 10/2/98 2000 11.00 INCA LLC P 10/2/98 7000 11.00 INCA SCHEDULE 13D CUSIP No. 365476100 Page 13 of 17 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used Lag P 9/15/98 2500 10.55 INCA LLC P 9/15/98 1000 10.55 INCA Gruber P 9/15/98 1000 10.55 INCA McBaine P 9/15/98 500 10.55 INCA LLC P 9/14/98 2500 10.56 SHWD Lag P 9/11/98 400 10.00 INCA Lag P 9/10/99 2100 9.69 INCA Lag P 8/31/98 2000 10.06 INCA LLC P 8/31/98 1000 10.06 INCA LLC P 8/25/98 2500 12.00 HRZG Lag P 8/20/98 2000 12.00 INCA Gruber P 8/20/98 1000 12.00 INCA Lag P 8/11/98 3000 11.88 SHWD LLC P 8/11/98 1000 11.88 SHWD Lag P 7/30/98 10000 14.00 ADAM LLC P 7/30/98 9000 14.00 ADAM Gruber P 7/30/98 1000 14.00 ADAM Lag P 7/27/98 5000 13.72 TSCO LLC P 7/27/98 3700 13.72 TSCO Gruber P 7/27/98 1000 13.72 TSCO McBaine P 7/27/98 500 13.72 TSCO Lag P 7/23/98 2500 13.88 HRZG LLC P 7/23/98 1500 13.88 HRZG Gruber P 7/23/98 1000 13.88 HRZG Lag P 7/21/98 5000 13.58 HMQT LLC P 7/21/98 8300 13.58 HMQT Gruber P 7/21/98 1200 13.58 HMQT McBaine P 7/21/98 500 13.58 HMQT Gruber P 7/14/98 1000 14.02 INCA LLC P 7/14/98 5200 14.02 INCA Lag P 7/8/98 2500 13.75 PWJC Gruber P 7/8/98 2000 13.75 PWJC McBaine P 7/8/98 500 13.75 PWJC Lag P 7/8/98 2500 13.62 INCA LLC P 7/8/98 1600 13.62 INCA McBaine P 7/8/98 400 13.62 INCA Lag P 7/7/98 10000 14.00 DAIN LLC P 7/7/98 9000 14.00 DAIN Gruber P 7/7/98 1000 14.00 DAIN Lag P 7/7/98 2000 13.69 INCA Lag P 7/6/98 14000 13.81 PIPR GMJ P 7/6/98 1500 13.81 PIPR LLC P 7/6/98 1500 13.81 PIPR Gruber P 7/6/98 1000 13.81 PIPR SCHEDULE 13D CUSIP No. 365476100 Page 14 of 17 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used McBaine P 7/6/98 2000 13.81 PIPR LLC P 7/6/98 700 13.73 INCA Gruber P 7/6/98 2000 13.73 INCA McBaine P 7/6/98 300 13.73 INCA LLC P 7/6/98 15300 13.45 SHWD Gruber P 7/6/98 1150 13.45 SHWD McBaine P 7/6/98 2550 13.45 SHWD LLC P 7/2/98 4500 12.75 DAIN Gruber P 7/2/98 4500 12.75 DAIN McBaine P 7/2/98 1000 12.75 DAIN Lag P 6/30/98 2000 12.00 PIPR LLC P 6/30/98 6000 12.00 PIPR Gruber P 6/30/98 1000 12.00 PIPR McBaine P 6/30/98 1000 12.00 PIPR Gruber P 6/30/98 600 11.69 INCA McBaine P 6/30/98 500 11.69 INCA Lag P 6/29/98 2500 11.69 INCA LLC P 6/29/98 2000 11.69 INCA Gruber P 6/29/98 1000 11.69 INCA McBaine P 6/29/98 500 11.69 INCA Lag P 6/26/98 1250 11.38 DAIN LLC P 6/26/98 500 11.38 DAIN Gruber P 6/26/98 500 11.38 DAIN McBaine P 6/26/98 250 11.38 DAIN Lag P 6/25/98 4300 11.48 PIPR LLC P 6/25/98 4000 11.48 PIPR McBaine P 6/25/98 1700 11.48 PIPR Lag P 6/25/98 1000 11.50 NITE LLC P 6/25/98 2000 11.50 NITE GMJ P 6/25/98 1000 11.42 INCA LLC P 6/25/98 2000 11.42 INCA Gruber P 6/25/98 1000 11.42 INCA Lag P 6/24/98 2500 11.50 PIPR Lag P 6/24/98 5000 11.71 TSCO LLC P 6/24/98 5000 11.71 TSCO Lag P 6/24/98 2500 11.72 SHWD LLC P 6/24/98 6000 11.72 SHWD Gruber P 6/24/98 1500 11.72 SHWD McBaine P 6/24/98 3000 11.71 INCA SCHEDULE 13D CUSIP No. 365476100 Page 15 of 17 Pages [Key to brokers used:] ADAM Adam Harkness Hill CHAS Charles Schwab DAIN Dain Raucher HMQT Hambrecht & Quist HRZG Herzog Heine Geduld INCA Instinet MONT NationsBanc Montgomery Securities NITE Knight Securities OPCO CIBC Oppenheimer PIPR Piper Jaffrey PWJC Paine Webber SHWD Sherwood Securities TSCO Troster Singer ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC is the general partner of Lag and GMJ, pursuant to limited partnership agreements. These agreements provide to the general partner the authority, among other things, to invest the funds of GMJ and Lag in the Stock, to vote and dispose of those securities and to file this statement on behalf of GMJ and Lag. Also pursuant to those limited partnership agreements, LLC is entitled to fees based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to investment management agreements, LLC is authorized, among other things, to invest funds of its various investment advisory clients, and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on thirty days' notice, and provide for fees payable to LLC based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to authority granted to LLC orally and under a Power of Attorney, LLC is authorized, among other things, to invest funds of various relatives and affiliates of Gruber and McBaine. Such authority may be terminated at any time on notice and there are no fees payable to LLC for those services. SCHEDULE 13D CUSIP No. 365476100 Page 16 of 17 Pages ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed). SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: February 26, 1999 /s/ Jon D. Gruber Jon D. Gruber /s/ J. Patterson McBaine J. Patterson McBaine /s/ Thomas O. Lloyd-Butler Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by /s/ J. Patterson McBaine J. Patterson McBaine, Manager Lagunitas Partners, L.P., by Gruber and McBaine Capital Management, L.L.C., by /s/ J. Patterson McBaine J. Patterson McBaine, Manager SCHEDULE 13D CUSIP No. 365476100 Page 17 of 17 Pages EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of Common Stock of GBUR. For that purpose, the undersigned hereby constitute and appoint Gruber & McBaine Capital Management, L.L.C., as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED: February 26, 1999. /s/ Jon D. Gruber Jon D. Gruber /s/ J. Patterson McBaine J. Patterson McBaine /s/ Thomas O. Lloyd-Butler Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by /s/ J. Patterson McBaine J. Patterson McBaine, Manager Lagunitas Partners, L.P., by Gruber and McBaine Capital Management, L.L.C., by /s/ J. Patterson McBaine J. Patterson McBaine, Manager CSR\2217\006\1032317.01 2/26/1999 3:33 -----END PRIVACY-ENHANCED MESSAGE-----