-----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, HqXSgoOTy1wz3hXM7wrJ1hv90CGJt5vMD49bt1vFnnTglToMiQhqPLB20H+0cxAw sSlHasavOyY8ZxWZlgjmvg== 0001058854-05-000217.txt : 20051114 0001058854-05-000217.hdr.sgml : 20051111 20051114104217 ACCESSION NUMBER: 0001058854-05-000217 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051114 DATE AS OF CHANGE: 20051114 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BKF CAPITAL GROUP INC CENTRAL INDEX KEY: 0000009235 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 360767530 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30028 FILM NUMBER: 051197714 BUSINESS ADDRESS: STREET 1: ONE ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2123328400 MAIL ADDRESS: STREET 1: ONE ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: BAKER FENTRESS & CO DATE OF NAME CHANGE: 19970829 FORMER COMPANY: FORMER CONFORMED NAME: BAKER FENTRESS & CO ET AL DATE OF NAME CHANGE: 19940714 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANNELL CAPITAL LLC CENTRAL INDEX KEY: 0001058854 IRS NUMBER: 943366999 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4158358300 MAIL ADDRESS: STREET 1: 150 CALIFORNIA STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: CANNELL J CARLO DBA CANNELL CAPITAL MGMT DATE OF NAME CHANGE: 19980330 SC 13D/A 1 bkf13d05-11.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.4)* BKF Capital Group, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class Securities) 05548G102 ------------------------------------ (CUSIP Number) J. Carlo Cannell Cannell Capital, LLC, 150 California Street, 5th Floor, San Francisco, CA 94111 (415) 835-8300 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 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 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 ss.240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosure provided in a prior cover page. The information required in 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a current valid OMB control number. CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Cannell Capital, LLC 94-3366999 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization California................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0............................... ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 1,073,000........................ -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 1,073,000..................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 1,073,000 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 14.0% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IA....................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). J. Carlo Cannell - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization USA.......................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0 .............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 1,073,000........................ -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 1,073,000..................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 1,073,000 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 14.0% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IN/HC.................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). The Cuttyhunk Fund Limited - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Bermuda...................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0 ............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 254,800........................ -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 254,800..................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 254,800 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 3.3% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- CO....................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). The Anegada Master Fund Limited - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Cayman Islands............... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0 .............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 240,100....................... -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 240,100..................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 240,100 ----------- 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 3.1% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- CO....................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). GS Cannell, LLC 98-0232642 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware..................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0............................... ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 197,000......................... -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0 ............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 197,000......................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 197,000 ----------- 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 2.6% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- OO....................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- CUSIP No. 05548G102 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Tonga Partners, L.P. 94-3164039 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]................................................................. ------------------------------------------------------------------ (b) ................................................................. ------------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only.......................................................... ----------------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) WC................................. ------------------------------------ - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items 2(d) or 2(e)................................................................ ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Delaware..................... --------------------------------- - -------------------------------------------------------------------------------- Number of 7. Sole Voting Power 0 ............................. ---------------------------------------- Shares Beneficially Owned by Each Reporting Person With: ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 8. Shared Voting Power 381,100.................... -------------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 9. Sole Dispositive Power 0............................ ----------------------------------- ------------------------------------------------------------------- - ------------------------------------------------------------------------------- 10. Shared Dispositive Power 381,100..................... ---------------------------------- ------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11.Aggregate Amount Beneficially Owned by Each Reporting Person 381,100 ------------ 12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13.............Percent of Class Represented by Amount in Row (11) 5.0% --------- - -------------------------------------------------------------------------------- 14............................Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN....................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- ......................................................................... - ----------------------------------------------------------------------------- Item 1 Security and Issuer This statement relates to Common Stock ("Common Stock"), issued by BKF Capital Group, Inc.. The address of the principal executive offices of BKF Capital Group, Inc. is One Rockefeller Plaza, New York, NY 10020. Item 2 Identity and Background Name: Cannell Capital, LLC ("Adviser") Place of Organization: California Principal Business: Investment Adviser Address: 150 California Street, 5th Floor, San Francisco, CA 94111 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: The Cuttyhunk Fund Limited ("Cuttyhunk") Place of Organization: Bermuda Principal Business: Investment Address: 73 Front Street, Hamilton, Bermuda HM 12 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: The Anegada Master Fund Limited ("Anegada") Place of Organization: Cayman Islands Principal Business: Investment Address: c/o Praesideo Fund Services, Ltd. Harbour Centre, PO Box 1348, George Town, Grand Cayman, Cayman Islands Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: Tonga Partners, L.P. ("Tonga") Place of Organization: Delaware Principal Business: Investment Address: 150 California Street, 5th Floor, San Francisco, CA 94111 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: GS Cannell, LLC ("GSC") Place of Organization: Delaware Principal Business: Investment Address: 701 Mount Lucas Road, CN 850, Princeton, NJ 08542 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: J. Carlo Cannell Address: 150 California Street, 5th Floor, San Francisco, CA 94111 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Citizenship: United States J Carlo Cannell is the controlling and managing member of Adviser. Adviser serves as investment adviser to Cuttyhunk, Anegada Master, and GSC. Adviser is general partner and investment adviser to Tonga. Item 3 Source and amount of Funds or other Consideration The aggregate amount of funds used by Cuttyhunk to purchase 254,800 shares of Common Stock owned by it was approximately $7,276,864. Such amount was derived from working capital. The aggregate amount of funds used by Anegada to purchase 240,100 shares of Common Stock owned by it was approximately $6,777,829. Such amount was derived from working capital. The aggregate amount of funds used by GSC to purchase 197,000 shares of Common Stock owned by it was approximately $5,623,887. Such amount was derived from working capital. The aggregate amount of funds used by Tonga to purchase 381,100 shares of Common Stock owned by it was approximately $10,829,487. Such amount was derived from working capital. Item 4 Purpose of Transaction As of October 31, 2005 the Reporting Persons commenced the formulation of plans to seek maximization of the value of the Common Stock. Such plans may include, but may not necessarily be limited to, pursuit of strategic initiatives to enhance shareholder value. Subject to availability at prices deemed favorable and in accordance with applicable laws and regulations, the Reporting Persons may acquire shares of Common Stock of the Company from time to time in the open market, in privately negotiated transactions or otherwise. The Reporting Persons may dispose of shares of Common Stock of the Company from time to time in the open market, in privately negotiated transactions or otherwise. Except as set forth above, the Reporting Persons has no present plans or intentions that relate to or that would result in any of the transactions described in clauses (a) through (j) of item 4 of Schedule 13D. Item 5 Interest in Securities of the Issuer (a) As of October 31, 2005, the Reporting Persons directly or indirectly beneficially owned 1,073,000 shares, or 14.0%, of Common Stock of BKF Capital Group, Inc. (the approximate percentage of the shares of Common Stock owned is based on 7,665,748 shares of common stock outstanding by BKF Capital Group, Inc., on April 29, 2005). (1) Cuttyhunk owns 254,800 shares (3.3%) (2) Anegada owns 240,100 shares (3.1%) (3) GS Cannell owns 197,000 shares (2.6%) (4) Tonga owns 381,100 shares (5.0%) (b) The responses of the Reporting Persons to Items 7 through 11 of the portions of the cover page of this Schedule 13D which relate to beneficial ownership of shares of the Common Stock are incorporated herein by reference. (c) A list of transactions during the past 60 days. - -------------------------------------------------------------------------------- Party Date Amount Price per Where & How Bought Share Effected (Sold) - -------------------------------------------------------------------------------- ANEGADA 10/28/2005 14,400 15.84 Open Market ANEGADA 10/31/2005 15,000 17.03 Open Market ANEGADA 11/1/2005 7,100 21.02 Open Market CUTTYHUNK 10/28/2005 15,800 15.84 Open Market CUTTYHUNK 10/31/2005 16,600 17.03 Open Market CUTTYHUNK 11/1/2005 7,800 21.02 Open Market GS CANNELL 10/28/2005 12,100 15.84 Open Market GS CANNELL 10/31/2005 12,600 17.03 Open Market GS CANNELL 11/1/2005 5,900 21.02 Open Market TONGA 10/28/2005 22,700 15.84 Open Market TONGA 10/31/2005 23,800 17.03 Open Market TONGA 11/1/2005 11,200 21.02 Open Market (d) Not Applicable (e) Not Applicable Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer J. Carlo Cannell controls and manages the Adviser who makes voting and dispositive decisions for Cuttyhunk, Anegada, GS Cannell, and Tonga. Item 7 Material to Be Filed as Exhibits Not Applicable 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. Date: November 10, 2005 J. Carlo Cannell /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell Cannell Capital, LLC /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell, Managing Member The Anegada Master Fund, Limited /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell, Managing Member Cannell Capital, LLC, Investment Adviser The Cuttyhunk Fund Limited /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell, Managing Member Cannell Capital, LLC, Investment Adviser GS Cannell, LLC /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell, Managing Member Cannell Capital, LLC, Investment Adviser Tonga Partners, L.P. /s/ J. Carlo Cannell ------------------------------ J. Carlo Cannell, Managing Member Cannell Capital, LLC, General Partner -----END PRIVACY-ENHANCED MESSAGE-----