UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
STRATEGIC TURNAROUND EQUITY PARTNERS LP CAYMAN 720 FIFTH AVENUE, 10TH FLOOR NEW YORK, NY 10019 |
 |  X |  |  |
Galloway Capital Management, LLC 720 FIFTH AVENUE, 10TH FLOOR NEW YORK, NY 10019 |
 |  X |  |  |
GALLOWAY BRUCE C/O GALLOWAY CAPITAL MANAGEMENT LLC 720 FIFTH AVENUE 10TH FLOOR NEW YORK, NY 10019 |
 |  X |  |  |
Herman Gary L C/O GALLOWAY CAPITAL MANAGEMENT LLC 720 FIFTH AVENUE 10TH FLOOR NEW YORK, NY 10019 |
 |  X |  |  |
Strategic Turnaround Equity Partners LP (Cayman) By: /s/ Gary Herman, Managing Member Galloway Capital Management, LLC, General Partner | 09/10/2007 | |
**Signature of Reporting Person | Date | |
Galloway Capital Management, LLC By: /s/ Gary Herman, Managing Member | 09/10/2007 | |
**Signature of Reporting Person | Date | |
/s/ Bruce Galloway | 09/10/2007 | |
**Signature of Reporting Person | Date | |
/s/ Gary Herman | 09/10/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Bruce Galloway and Gary Herman are managing members of Galloway Capital Management, LLC the general partner of Strategic Turnaround Equity Partners, LP (Cayman) ("STEP"). Messrs. Galloway and Herman disclaim beneficial ownership of the shares in STEP except for their indirect interests therein by virtue of being members of Galloway Capital Management LLC and having direct interests as limited partners of STEP. |
(2) | Of the total of 912,868 shares, 779,939 are directly held by STEP and 132,929 are held by Finvest Yankee, LP for which the reporting person has the power to vote and dispose. |
(3) | Of the total of 1,026,736 shares, 779,939 are directly held by STEP, 37,505 are held directly by Mr. Galloway, 21,875 shares are held by Rexon Galloway Capital Growth, LLC for which Mr. Galloway has the power to vote and dispose, and 50,232 are held by Jacombs Investments, Ltd. for which Mr. Galloway has the power to vote and dispose. |
(4) | Of the total of 924,157 shares, 779,939 are directly held by STEP, 4,500 are held by FBR, Inc. which Mr. Herman has the power to vote and dispose, 4,289 are held by Mr. Herman's IRA and 2,500 are held by individually. |