-----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, EmqwEZ7qr3AhVQeYg7UaAA9qlQdAGzc4l+gwiqOngVWFdNxE5srdQLD/oOosB+Vh SzzW3lwb2zhlKU3dxWjFig== /in/edgar/work/0000911420-00-500009/0000911420-00-500009.txt : 20001013 0000911420-00-500009.hdr.sgml : 20001013 ACCESSION NUMBER: 0000911420-00-500009 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20001012 GROUP MEMBERS: CHANNEL PARTNERSHIP II, L.P. GROUP MEMBERS: NELSON OBUS GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE LP GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE, L.P. I SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST AVIATION SERVICES INC CENTRAL INDEX KEY: 0001025743 STANDARD INDUSTRIAL CLASSIFICATION: [3724 ] IRS NUMBER: 061419064 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-51583 FILM NUMBER: 739148 BUSINESS ADDRESS: STREET 1: 15 RIVERSIDE AVE CITY: WESTPORT STATE: CT ZIP: 06880-4214 BUSINESS PHONE: 2032913303 MAIL ADDRESS: STREET 1: 15 RIVERSIDE AVE CITY: WESTPORT STATE: CT ZIP: 06880-4214 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 STANDARD INDUSTRIAL CLASSIFICATION: [ ] IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 2127600814 MAIL ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 SC 13D/A 1 0001.txt AMENDMENT NO. 5 TO SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 SCHEDULE 13D/A (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 5) First Aviation Services Inc. ---------------------------- (Name of Issuer) Common Stock, Par Value $0.01 per share --------------------------------------- (Title of Class of Securities) 31865W108 --------- (CUSIP Number of Class of Securities) Wynnefield Partners Small Cap Value, L.P. One Penn Plaza - Suite 4720 New York, New York 10119 (212) 760-0814 Attention: Mr. Nelson Obus -------------------------- (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 September 9, 1999 ----------------- January 31, 2000 ---------------- (Dates of Events which Require 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) (Page 1 of 14 Pages) SCHEDULE 13D/A - -------------------------------------------------------------------------------- CUSIP No. 31865W108 Page 2 of 14 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P. S.S. OR I.R.S. IDENTIFICATION N0. OF ABOVE PERSON: 13-3688497 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES 600,239 shares on September 9, 1999 638,246 shares on January 31, 2000 ----------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY None EACH REPORTING ----------------------------------------------------- PERSON 9. SOLE DISPOSITIVE POWER WITH 600,239 shares on September 9, 1999 638,246 shares on January 31, 2000 ---------------------------------------------------- 10. SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 600,239 shares on September 9, 1999 638,246 shares on January 31, 2000 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7% of Common Stock on September 9, 1999 8.3% of Common Stock on January 31, 2000 - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 2 of 14 Pages) SCHEDULE 13D/A - -------------------------------------------------------------------------------- CUSIP No. 31865W108 Page 3 of 14 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value Offshore Fund, Ltd. S.S. OR I.R.S. IDENTIFICATION N0. OF ABOVE PERSON: Not Applicable - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS - -------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES 350,200 shares on September 9, 1999 368,500 shares on January 31, 2000 ----------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY None EACH REPORTING ----------------------------------------------------- PERSON 9. SOLE DISPOSITIVE POWER WITH 350,200 shares on September 9, 1999 368,500 shares on January 31, 2000 ---------------------------------------------------- 10. SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 350,200 shares on September 9, 1999 368,500 shares on January 31, 2000 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% of Common Stock on September 9, 1999 4.8% of Common Stock on January 31, 2000 - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- (Page 3 of 14 Pages) SCHEDULE 13D/A - -------------------------------------------------------------------------------- CUSIP NO. 31865W108 Page 4 of 14 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value, L.P. I S.S. OR I.R.S. IDENTIFICATION N0. OF ABOVE PERSON: 13-3953291 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES 752,454 shares on September 9, 1999 803,447 shares on January 31, 2000 ----------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY None EACH REPORTING ------------------------------------------------------ PERSON 9. SOLE DISPOSITIVE POWER WITH 752,454 shares on September 9, 1999 803,447 shares on January 31, 2000 ------------------------------------------------------ 10. SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 752,454 shares on September 9, 1999 803,447 shares on January 31, 2000 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.3% of Common Stock on September 9, 1999 10.5% of Common Stock on January 31, 2000 - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 4 of 14 Pages) SCHEDULE 13D/A - -------------------------------------------------------------------------------- CUSIP NO. 31865W108 Page 5 of 14 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON Nelson Obus S.S. OR I.R.S. IDENTIFICATION N0. OF ABOVE PERSON: ###-##-#### - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS PF (SEE ITEM 3) - -------------------------------------------------------------------------------- 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 OF AMERICA - -------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES 100,000 shares ----------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY None EACH REPORTING ------------------------------------------------------ PERSON 9. SOLE DISPOSITIVE POWER WITH 100,000 shares ------------------------------------------------------ 10. SHARED DISPOSITIVE POWER None 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 100,000 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.3% of Common Stock - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (Page 5 of 14 Pages) SCHEDULE 13D/A - -------------------------------------------------------------------------------- CUSIP NO. 31865W108 Page 6 of 14 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON Channel Partnership II, L.P. S.S. OR I.R.S. IDENTIFICATION N0. OF ABOVE PERSON: 22-3215653 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X] (b)[_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION NEW YORK - -------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES 23,000 shares ----------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY None EACH REPORTING ------------------------------------------------------ PERSON 9. SOLE DISPOSITIVE POWER WITH 23,000 ------------------------------------------------------ 10. SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 23,000 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.3% of Common Stock - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 6 of 14 Pages) Item 1. Security and Issuer. This Statement relates to shares of Common Stock, $0.01 par value per share (the "Shares"), of First Aviation Services, Inc., a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 15 Riverside Avenue, Westport, Connecticut 06880-4214. Item 2. Identity and Background. (a), (b), (c) and (f). This Statement is being filed by Wynnefield Partners Small Cap Value, L.P. (the "Partnership"), Channel Partnership II, L.P. ("Channel"), Wynnefield Small Cap Value Offshore Fund, Ltd. (the "Fund"), Wynnefield Partners Small Cap Value, L.P. I (the "Partnership-I") and Nelson Obus ("Mr. Obus"). Although Partnership, Channel, the Fund and Partnership-I are each separate and distinct entities with different beneficial owners (whether designated as limited partners or stockholders), for the convenience of reporting their holdings, in this Statement, they, along with Mr. Obus, are sometimes referred to collectively as the "Wynnefield Group". Wynnefield Capital Management, LLC, a New York limited liability company ("WCM"), is the general partner of the Partnership and Partnership-I, private investment companies organized as limited partnerships under the laws of the State of Delaware. Mr. Obus and Joshua Landes are the managing members of WCM and the principal executive officers of Wynnefield Capital, Inc., the investment manager of the Fund, a private investment company organized under the laws of the Cayman Islands. Mr. Obus is also the general partner of Channel, a private investment company organized as a limited partnership under the laws of the State of New York. Mr. Obus and Mr. Landes are citizens of the United States of America. The business address of Mr. Obus, Mr. Landes, WCM, and each of the entities in the Wynnefield Group is One Penn Plaza, Suite 4720, New York, New York 10119. (d) and (e). During the last five years, and the five years prior to the date of the first event which required the filing of this Statement, neither Mr. Obus, Mr. Landes, WCM, nor any of the entities comprising the Wynnefield Group has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) 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. Item 3. Source and Amount of Funds or Other Consideration. The Wynnefield Group entities purchased their Shares, separately from each other, for the consideration shown in the following table: (Page 7 of 14 Pages)
Name Date of Purchase Number of Shares Consideration Paid - ---- ---------------- ---------------- ------------------ Partnership September 9, 1999* 1,400 $8,137.50 Partnership-I September 9, 1999* 1,900 $11,043.75 Channel May 26, 1999** 23,000 $176,900.00 Fund September 9, 1999* 700 $4,068.75 Mr. Obus April 23, 1999** 100,000 $579,868.00
Such shares were paid for from the working capital of each member of the Wynnefield Group (other than Mr. Obus, who used personal funds). Each member of 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 features contracts, options, puts and calls on stock and warrants. Item 4. Purposes of Transaction. Each member of the Wynnefield Group originally acquired the Shares reported in Item 5 below for their own account, and for investment purposes. Subsequently, they determined that they could play a useful role in recommending to the Issuer's management various strategies for maintaining shareholders' value and through their representatives, they have suggested certain programs for this purpose. The Wynnefield Group and the Issuer's management have continued their dialogue on this and related subjects. 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 Schedule 13D. Item 5. Interests in Securities of the Issuer. (a) As of the close of business on the date hereof, the Wynnefield Group beneficially owned a total of 1,979,392 Shares after giving effect to the transactions set forth in Item 3 of this Statement. Mr. Obus and Mr. Landes, by virtue of their status as managing members of WCM, the general partner of the Partnership and Partnership-I, as officers of the Fund's investment manager, Mr. Obus as a general partner of Channel, and Mr. Obus personally, may be deemed to - -------- * The purchase dates listed represent the last date of purchase of any securities of the Issuer by Partnership, Partnership-I or the Fund. On January 31, 2000, the aggregate number of shares of the Issuer outstanding reported on the Issuer's Form 10-Q had decreased, thereby materially increasing the Wynnefield Group's ownership percentage of the Issuer in an amount equal to one percent or more of the Common Stock of the Issuer. ** These dates represent the last date of purchase of any securities of the Issuer by Channel and Mr. Obus. The Number of Shares reflect the total number of shares held by Channel and Mr. Obus on those dates. (Page 8 of 14 Pages) have indirect beneficial ownership of the Shares owned by the entities referred to as the Wynnefield Group. However, Mr. Obus and Mr. Landes, as stated below, disclaim any beneficial ownership of such Shares. The Shares owned by the Wynnefield Group represent approximately 25.75% of the outstanding Shares of Common Stock of the Issuer, based on the 7,686,210 Shares of Common Stock reported as outstanding on July 31, 2000 in the Issuer's latest Quarterly Report on Form 10-Q. Pursuant to Rule 13d-4 of the General Rules and Regulations under the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Obus and Mr. Landes disclaim beneficial ownership of any Shares owned by the Wynnefield Group and disclaim membership in the Wynnefield Group with respect to the Shares for purposes of Sections 13(d) and 13(g) of the Exchange Act or for any other purpose under any other provision of the Exchange Act or the rules and regulations promulgated thereunder. (b) Mr. Obus and Mr. Landes, by virtue of their status as the managing members of WCM, the general partner of the Partnership and Partnership-I, Mr. Obus as general partner of Channel, and as officers of the Fund's investment manager, have the power to vote or to direct the vote and the power to dispose and to direct the disposition of the Shares owned by each of the entities comprising the Wynnefield Group. (c) The Wynnefield Group has made purchases and sales in the shares since their most recent filing on Schedule 13D as follows:
Name Transaction Date Number of Shares Price Per Share - ---- ----------- ---- ---------------- --------------- Partnership Purchase June 1, 1999 450 $5.6875 Partnership Purchase July 2, 1999 1,300 $6.05 Partnership Purchase July 7, 1999 1,800 $6.375 Partnership Purchase July 8, 1999 1,750 $5.945 Partnership Sell July 13, 1999 61,000 $5.625 Partnership Purchase July 20, 1999 1,750 $6.375 Partnership Purchase July 28, 1999 6,800 $5.7829 Partnership Purchase July 28, 1999 7,100 $5.72 Partnership Purchase August 5, 1999 5,400 $5.60 Partnership Purchase August 16, 1999 1,800 $5.625 Partnership Purchase August 17, 1999 2,400 $5.625 Partnership Purchase August 19, 1999 900 $5.625 Partnership Purchase September 2, 1999 350 $5.9375
(Page 9 of 14 Pages)
(Table continued) Name Transaction Date Number of Shares Price Per Share - ---- ----------- ---- ---------------- --------------- Partnership Purchase September 9, 1999* 1,400 $5.8125 Partnership Purchase September 29, 1999 1,800 $5.34 Partnership Purchase September 30, 1999 6,800 $5.57 Partnership Purchase October 6, 1999 1,200 $5.185 Partnership Purchase October 15, 1999 7,100 $5.33 Partnership Sell November 3, 1999 3,600 $5.40 Partnership Purchase November 3, 1999 17,800 $5.375 Partnership Sell November 17, 1999 242,093 $5.375 Partnership Purchase November 30, 1999 1,800 $5.375 Partnership Purchase December 21, 1999 242,000 $5.71875 Partnership Purchase December 23, 1999 3,600 $4.82 Partnership Purchase January 21, 2000 1,600 $5.125 Partnership Purchase February 9, 2000 3,600 $4.96875 Partnership Purchase February 9, 2000 5,000 $4.875 Partnership Purchase May 31, 2000 1,900 $7.00 Partnership Purchase July 7, 2000 1,900 $5.1287 Partnership Purchase July 10, 2000 1,900 $4.9375 Partnership Purchase July 11, 2000 2,700 $4.84 Partnership - I Purchase June 1, 1999 500 $5.6875 Partnership - I Purchase July 2, 1999 1,700 $6.05 Partnership - I Purchase July 7, 1999 2,200 $6.375 Partnership - I Purchase July 8, 1999 2,400 $5.945 Partnership - I Purchase July 13, 1999 61,000 $5.625 Partnership - I Purchase July 20, 1999 2,400 $6.375 Partnership - I Purchase July 28, 1999 9,000 $5.7829
(Page 10 of 14 Pages)
(Table continued) Name Transaction Date Number of Shares Price Per Share - ---- ----------- ---- ---------------- --------------- Partnership - I Purchase July 28, 1999 9,500 $5.72 Partnership - I Purchase August 5, 1999 7,100 $5.60 Partnership - I Purchase August 16, 1999 2,300 $5.625 Partnership - I Purchase August 17, 1999 3,000 $5.625 Partnership - I Purchase August 19, 1999 1,200 $5.625 Partnership - I Purchase September 2, 1999 450 $5.9375 Partnership - I Purchase September 9, 1999* 1,900 $5.8125 Partnership - I Purchase September 29, 1999 2,400 $5.34 Partnership - I Purchase September 30, 1999 8,900 $5.57 Partnership - I Purchase October 6, 1999 1,800 $5.185 Partnership - I Purchase October 15, 1999 9,500 $5.33 Partnership - I Sell November 3, 1999 4,700 $5.40 Partnership - I Purchase November 3, 1999 23,700 $5.375 Partnership - I Purchase November 17, 1999 242,093 $5.375 Partnership - I Purchase November 30, 1999 2,300 $5.375 Partnership - I Sell December 21, 1999 242,000 $5.71875 Partnership - I Purchase December 23, 1999 4,800 $4.82 Partnership - I Purchase January 21, 2000 2,200 $5.125 Partnership - I Purchase February 9, 2000 4,700 $4.96875 Partnership - I Purchase February 9, 2000 6,600 $4.875 Partnership - I Purchase May 31, 2000 2,300 $7.00 Partnership - I Purchase July 7, 2000 2,200 $5.1287 Partnership - I Purchase July 10, 2000 2,200 $4.9375 Partnership - I Purchase July 11, 2000 3,200 $4.84 Fund Purchase June 1, 1999 250 $5.6875
(Page 11 of 14 Pages)
(Table continued) Name Transaction Date Number of Shares Price Per Share - ---- ----------- ---- ---------------- --------------- Fund Purchase July 2, 1999 900 $6.05 Fund Purchase July 7, 1999 1,000 $6.375 Fund Purchase July 8, 1999 850 $5.945 Fund Purchase July 20, 1999 850 $6.375 Fund Purchase July 28, 1999 3,200 $5.7829 Fund Purchase July 28, 1999 3,400 $5.72 Fund Purchase August 5, 1999 2,500 $5.60 Fund Purchase August 16, 1999 900 $5.625 Fund Purchase August 17, 1999 1,100 $5.625 Fund Purchase August 19, 1999 400 $5.625 Fund Purchase September 2, 1999 200 $5.9375 Fund Purchase September 9, 1999* 700 $5.8125 Fund Purchase September 29, 1999 900 $5.34 Fund Purchase September 30, 1999 3,200 $5.57 Fund Purchase October 6, 1999 600 $5.185 Fund Purchase October 15, 1999 3,400 $5.33 Fund Sell November 3, 1999 1,700 $5.40 Fund Purchase November 3, 1999 8,500 $5.375 Fund Purchase November 30, 1999 900 $5.375 Fund Purchase December 23, 1999 1,700 $4.82 Fund Purchase January 21, 2000 800 $5.125 Fund Purchase February 9, 2000 1,700 $4.96875 Fund Purchase February 9, 2000 2,400 $4.875 Fund Purchase May 31, 2000 800 $7.00 Fund Purchase July 7, 2000 900 $5.1287 Fund Purchase July 10, 2000 900 $4.9375 Fund Purchase July 11, 2000 1,300 $4.84
(Page 12 of 14 Pages) *Each of these dates is an event date which requires the filing of this Schedule, as each of these caused the Wynnefield Group's beneficial ownership of the Common Stock of the Issuer to increase by more than one percent. On January 31, 2000, the other event date which requires the filing of this Schedule 13D, the Issuer reported on its Form 10-Q that there were less shares outstanding than previously disclosed, thereby causing the percentage of the Wynnefield Group's ownership of the Common Stock of the Issuer to increase by more than one percent. (d) The entities comprising the Wynnefield Group, as owners of an aggregate of 1,979,392 Shares (representing 25.75% of the outstanding Shares), have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the Shares, but only from such Shares. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Neither Mr. Obus, Mr. Landes, WCM, nor any of the entities comprising the Wynnefield Group has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. Not applicable. SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. Dated: October 12, 2000 WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I By: Wynnefield Capital Management, LLC, General Partner By: /s/ Nelson Obus ----------------------------- Nelson Obus, Managing Member WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. (Page 13 of 14 Pages) By: Wynnefield Capital, Inc. By: /s/ Nelson Obus ---------------------- Nelson Obus, President CHANNEL PARTNERSHIP II, L.P. By: /s/ Nelson Obus --------------------------- Nelson Obus, General Partner /s/ Nelson Obus --------------------------- Nelson Obus, Individually -----END PRIVACY-ENHANCED MESSAGE-----