UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 2)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(a)
Acme Communications, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
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(Title of Class of Securities)
004631107
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(CUSIP Number of Class of Securities)
Wynnefield Partners Small Cap Value, L.P.
450 Seventh Avenue, Suite 509
New York, New York 10123
Attention: Mr. Nelson Obus
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Shahe Sinanian, Esq.
Greenberg Traurig, LLP
200 Park Avenue
New York, New York 10166
(212) 801-9200
May 6, 2005
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(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 if filing this
Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [ ]
(continued on following pages)
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CUSIP No. 004631107 13D/A Page 2 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7. SOLE VOTING POWER
NUMBER OF 409,684 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 409,684 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
409,684 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6% (See Item 5)
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 004631107 13D/A Page 3 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Small Cap Value Offshore Fund, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Not Applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
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7. SOLE VOTING POWER
NUMBER OF 310,400 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 310,400 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
310,400 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.9% (See Item 5)
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14. TYPE OF REPORTING PERSON
CO
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CUSIP No. 004631107 13D/A Page 4 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P. I
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3953291
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7. SOLE VOTING POWER
NUMBER OF 547,900 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 547,900 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
547,900 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4% (See Item 5)
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 004631107 13D/A Page 5 of 15
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1. NAME OF REPORTING PERSON: Channel Partnership II, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 22-3215653
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
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7. SOLE VOTING POWER
NUMBER OF 5,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 5,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0% (See Item 5)
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 004631107 13D/A Page 6 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Capital, Inc. Profit Sharing Plan
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3873998
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
N/A
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7. SOLE VOTING POWER
NUMBER OF 40,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 40,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
40,000 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2% (See Item 5)
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14. TYPE OF REPORTING PERSON
EP
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CUSIP No. 004631107 13D/A Page 7 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Capital Management LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-4018186
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
AF (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7. SOLE VOTING POWER
NUMBER OF 957,584 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 957,584 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
957,584 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0% (See Item 5)
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14. TYPE OF REPORTING PERSON
OO (Limited Liability Company)
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CUSIP No. 004631107 13D/A Page 8 of 15
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1. NAME OF REPORTING PERSON: Wynnefield Capital, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: N/A
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
AF (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLAND
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7. SOLE VOTING POWER
NUMBER OF 310,400 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 310,400 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
310,400 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.9% (See Item 5)
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14. TYPE OF REPORTING PERSON
CO
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CUSIP No. 004631107 13D/A Page 9 of 15
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1. NAME OF REPORTING PERSON: Nelson Obus
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
AF (SEE ITEM 3)
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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7. SOLE VOTING POWER
NUMBER OF 5,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 5,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares (See Item 5)
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0% (See Item 5)
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14. TYPE OF REPORTING PERSON
IN
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This Amendment No. 2 (the "Amendment") amends the Statement of
Beneficial Ownership on Schedule 13D, originally filed with the Securities and
Exchange Commission (the "Commission") on November 17, 2004, as amended by
Amendment No. 1 ("Amendment No. 1") filed with the Commission on December 29,
2004 (together, the "Schedule 13D"), by Wynnefield Partners Small Cap Value,
L.P. ("Partnership"), Wynnefield Partners Small Cap Value, L.P. I ("Partnership
I"), Wynnefield Small Cap Value Offshore Fund, Ltd. ("Fund"), Channel
Partnership II, L.P. ("Channel"), Nelson Obus ("Mr. Obus"), Wynnefield Capital
Management, LLC ("WCM"), Wynnefield Capital, Inc. Profit Sharing Plan ("Profit
Sharing Plan", with respect to Amendment No. 1) and Wynnefield Capital, Inc.
("WCI" and, collectively with Partnership, Partnership I, Fund, Channel, Obus,
WCM and Profit Sharing Plan, the "Wynnefield Group"), with respect to the shares
of common stock, par value $0.01 per share, of Acme Communications, Inc., a
Delaware corporation with its principal executive offices located at 2101 E.
Fourth Street, Suite 202A, Santa Ana, California 92705 (the "Issuer"). Unless
specifically amended hereby, the disclosures set forth in the Schedule 13D shall
remain unchanged.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The response to Item 3 is hereby amended and supplemented by adding the
following:
As of the date of this Amendment, the Wynnefield Group beneficially
owned in the aggregate 1,312,984 shares of Common Stock, constituting
approximately 8.2% of the outstanding shares of Common Stock (the percentage of
shares owned being based upon 16,046,763 shares outstanding on May 9, 2005, as
set forth in the Issuer's most recent report on Form 10-Q for the quarterly
period ended March 31, 2005 filed with the Commission on May 10, 2005).
Each of the Wynnefield Group entities set forth below made its most
recent purchase of shares of Common Stock on May 6, 2005, separately from each
other, for the consideration shown in the following table:
Name Number of Shares Purchased Consideration Paid
---- -------------------------- ------------------
Partnership* 37,500 $147,750
Partnership-I* 50,000 $197,000
Fund** 37,500 $147,750
* WCM has an indirect beneficial ownership interest in these shares of Common
Stock.
** WCI has an indirect beneficial ownership interest in these shares of Common
Stock.
Such shares of Common Stock were paid for from the working capital of
each entity in the Wynnefield Group who directly beneficially owns Common Stock.
Each entity in the Wynnefield Group maintains a separate investment fund,
consisting of capital contributions from their respective partners and investors
and capital appreciation derived therefrom for the principal purpose of buying
and selling securities (including financial and money market instruments) and
interests in domestic and foreign securities, including, without limitation,
convertible securities, stock index futures contracts, options, puts and calls
on stock and warrants, except the Profit Sharing Plan, which is an employee
profit sharing plan of WCI.
Page 10 of 15
ITEM 4. PURPOSES OF TRANSACTION.
The response to Item 4 is hereby amended and restated in its entirety as
follows:
The members of the Wynnefield Group acquired the shares of Common Stock
reported in Item 5 below for investment purposes, with no intention of changing
or influencing control of the Issuer or as a participant in any transaction
having that purpose or effect. They intend to monitor the Issuer's financial
condition, business, operations and prospects, the market price for the shares
of Common Stock, conditions in the securities markets generally, general
economic conditions, conditions affecting the Issuer's operations and evaluate
the responses of its management to the needs of the holders of the Common Stock.
The Wynnefield Group strongly endorses management's recent decision to
explore the sale of one of the Company's television stations and endorses this
step as the first action in an orderly liquidation of the Company.
The Wynnefield Group reserves the right to change its plans and
intentions at any time as it deems appropriate. In particular, the Wynnefield
Group may purchase shares of Common Stock, or may sell or otherwise dispose of
all or a portion of the shares of Common Stock, in public and private
transactions and/or may enter into negotiated derivative transactions to hedge
the market risk of some or all positions in, or to obtain greater exposure to,
the shares of the Common Stock. Any such transactions may be effected at any
time or from time to time, subject to any applicable limitations imposed on the
sale of shares of the Common Stock by the Securities Act of 1933, as amended,
the Exchange Act and applicable state securities or "blue sky" laws.
Depending on factors deemed relevant by the Wynnefield Group, including
but not limited to changes in the Issuer's business, governance or financial
situation, the Wynnefield Group reserves the right to formulate other plans
and/or make proposals, and take such actions with respect to its investment in
the Issuer, including any or all of the actions set forth in this response to
Item 4 and any other actions as the Wynnefield Group, or any of them, may
determine.
Except as set forth above, no member of the Wynnefield Group has any
present plans or intentions that would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of this
Amendment.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
The response to Item 5 is hereby amended and restated in its entirety as
follows:
(a) - (c) As of May 17, 2005, the Wynnefield Group beneficially owned in the
aggregate, 1,312,984 shares of Common Stock, constituting approximately 8.2% of
the outstanding shares of Common Stock (the percentage of shares owned being
based upon 16,046,763 shares outstanding on May 9, 2005, as set forth in the
Issuer's most recent report on Form 10-Q for the quarterly period ended March
31, 2005 filed with the Commission on May 10, 2005). The following table sets
forth certain information with respect to shares of Common Stock beneficially
owned directly by the Wynnefield Group members listed:
NUMBER APPROXIMATE
OF PERCENTAGE OF
NAME SHARES OUTSTANDING SHARES
------------------- ------- ------------------
Partnership * 409,684 2.6 %
Partnership-I * 547,900 3.4 %
Fund ** 310,400 1.9 %
Channel*** 5,000 0.0 %
Profit Sharing Plan 40,000 0.2 %
* WCM has an indirect beneficial ownership interest in these shares of
Common Stock.
Page 11 of 15
** WCI has an indirect beneficial ownership interest in these shares of
Common Stock.
*** Mr. Obus has an indirect beneficial ownership interest in these
shares of Common Stock.
WCM is the sole general partner of the Partnership and Partnership-I
and, accordingly, may be deemed to be the indirect beneficial owner (as that
term is defined under Rule 13d-3 promulgated pursuant to the Exchange Act of the
shares of Common Stock that the Partnership and Partnership-I beneficially own.
WCM, as the sole general partner of the Partnership and Partnership-I, has the
sole power to direct the voting and disposition of the shares of Common Stock
that the Partnership and Partnership-I beneficially own.
Messrs. Obus and Landes are the co-managing members of WCM and,
accordingly, each of Messrs. Obus and Landes may be deemed to be the indirect
beneficial owner (as that term is defined under Rule 13d-3 promulgated pursuant
to the Exchange Act) of the shares of Common Stock that WCM may be deemed to
beneficially own. Each of Messrs. Obus and Landes, as a co-managing member of
WCM, shares with the other the power to direct the voting and disposition of the
shares of Common Stock that WCM may be deemed to beneficially own.
WCI is the sole investment manager of the Fund and, accordingly, may be
deemed to be the indirect beneficial owner (as that term is defined under Rule
13d-3 promulgated pursuant to the Exchange Act) of the shares of Common Stock
that the Fund beneficially owns. WCI, as the sole investment manager of the
Fund, has the sole power to direct the voting and disposition of the shares of
Common Stock that the Fund beneficially owns.
Messrs. Obus and Landes are the principal executive officers of WCI
and, accordingly, each of Messrs. Obus and Landes may be deemed to be the
indirect beneficial owner (as that term is defined under Rule 13d-3 promulgated
pursuant to the Exchange Act) of the shares of Common Stock that WCI may be
deemed to beneficially own. Each of Messrs. Obus and Landes, as a principal
executive officer of WCI, shares with the other the power to direct the voting
and disposition of the shares of Common Stock that WCI may be deemed to
beneficially own.
The Profit Sharing Plan is an employee profit sharing plan of WCI. Mr.
Obus and Mr. Landes share the power to vote and dispose of the Profit Sharing
Plan's investments in securities.
Mr. Obus is the general partner of Channel and, accordingly, may be
deemed to be the indirect beneficial owner (as that term is defined under Rule
13d-3 promulgated pursuant to the Exchange Act) of the shares of Common Stock
that Channel beneficially owns. Mr. Obus, as the general partner of Channel, has
the sole power to direct the voting and disposition of the shares of Common
Stock that Channel beneficially owns.
Beneficial ownership of shares of Common Stock shown on the cover pages
of and set forth elsewhere in this Amendment for each of the members of the
Wynnefield Group assumes that they have not formed a group for purposes of
Section 13(d)(3) under the Exchange Act, and Rule 13d-5(b)(1) promulgated
thereunder. If the members of the Wynnefield Group were deemed to have formed a
group for purposes of Section 13(d)(3) and Rule 13d-5(b)(1), the group would be
deemed to own beneficially (and may be deemed to have shared voting and
dispositive power over) 1,312,984 shares of Common Stock, constituting
approximately 8.2 % of the outstanding shares of Common Stock (the percentage of
shares owned being based upon 16,046,763 shares outstanding on May 9, 2005, as
set forth in the Issuer's most recent report on Form 10-Q for the quarterly
period ended March 31, 2005 filed with the Commission on May 10, 2005).
The filing of this Amendment and the inclusion of information herein
with respect to Messrs. Obus and Landes, shall not be considered an admission
that any of such persons, for the purpose of
Page 12 of 15
Section 13(d) of the Exchange Act, are the beneficial owners of any shares in
which such persons do not have a pecuniary interest.
To the best knowledge of the Wynnefield Group, except as described
herein, none of the Wynnefield Group, any person in control (ultimately or
otherwise) of the Wynnefield Group, any general partner, executive officer or
director thereof, as applicable, beneficially owns any shares of Common Stock,
and except as set forth in the table below, there have been no transactions in
shares of Common Stock effected during the past 60 days by the Wynnefield Group,
any person in control of the Wynnefield Group (ultimately or otherwise), or any
general partner, executive officer or director thereof, as applicable; provided,
however, certain investment banking affiliates of the Wynnefield Group may
beneficially own shares of Common Stock, including shares that may be held in
discretionary or advisory accounts with the Wynnefield Group; and the Wynnefield
Group, directly or in connection with such discretionary or advisory accounts,
may acquire, hold, vote or dispose of Common Stock, including transactions that
may have occurred in the past 60 days.
The Wynnefield Group has made purchases of shares of Common Stock
during the past 60 days as follows:
Name Date Number of Shares Price Per Share
---- -------------- ---------------- ---------------
Partnership April 13, 2005 7,600 $4.50
Partnership May 3, 2005 2,000 $3.68
Partnership May 4, 2005 3,000 $3.81
Partnership May 5, 2005 6,800 $3.80
Partnership May 6, 2005 37,500 $3.94
Partnership - I April 13, 2005 11,300 $4.50
Partnership - I May 3, 2005 2,900 $3.68
Partnership - I May 4, 2005 4,000 $3.81
Partnership - I May 5, 2005 10,400 $3.80
Partnership - I May 6, 2005 50,000 $3.94
Fund April 13, 2005 8,100 $4.50
Fund May 3, 2005 2,100 $3.68
Fund May 4, 2005 3,200 $3.81
Fund May 5, 2005 7,800 $3.80
Fund May 6, 2005 37,500 $3.94
Page 13 of 15
(d) No person, other than each of the members of the Wynnefield Group
referred to as the direct beneficial owner of the shares of Common Stock set
forth in this response to Item 5, has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
shares of Common Stock.
(e) Not applicable.
Page 14 of 15
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this Amendment is
true, complete and correct.
Dated: May 17, 2005 WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL MANAGEMENT, LLC
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD CAPITAL, INC.
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL, INC. PROFIT SHARING PLAN
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, Authorized Signatory
CHANNEL PARTNERSHIP II, L.P.
By: /s/ Nelson Obus
---------------------------------------
Nelson Obus, General Partner
/s/ Nelson Obus
----------------------------------------------
Nelson Obus, Individually
Page 15 of 15