0001103285-12-000002.txt : 20120209
0001103285-12-000002.hdr.sgml : 20120209
20120209140557
ACCESSION NUMBER: 0001103285-12-000002
CONFORMED SUBMISSION TYPE: SC 13G
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20120209
DATE AS OF CHANGE: 20120209
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: NETWORK EQUIPMENT TECHNOLOGIES INC
CENTRAL INDEX KEY: 0000752431
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576]
IRS NUMBER: 942904044
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0328
FILING VALUES:
FORM TYPE: SC 13G
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-39132
FILM NUMBER: 12586232
BUSINESS ADDRESS:
STREET 1: 6900 PASEO PADRE PARKWAY
CITY: FREMONT
STATE: CA
ZIP: 94555-3660
BUSINESS PHONE: 5107137300
MAIL ADDRESS:
STREET 1: 6900 PASEO PADRE PARKWAY
CITY: FREMONT
STATE: CA
ZIP: 94555-3660
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: STAFFORD CAPITAL MANAGEMENT LLC
CENTRAL INDEX KEY: 0001103285
IRS NUMBER: 943338814
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
BUSINESS ADDRESS:
STREET 1: 600 MONTGOMERY STREET
STREET 2: STE 1600
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
BUSINESS PHONE: 4153626120
MAIL ADDRESS:
STREET 1: 600 MONTGOMERY STREET
STREET 2: STE 1600
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
SC 13G
1
NWK13GDec2011.txt
CUSIP No. 641208103 SC 13/G
________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE SC 13G
Under the Securities Exchange Act of 1934
NETWORK EQUIPMENT TECHNOLOGIES
(Name of Issuer)
Common Stock, Par Value $0.01 per Share
(Title of Class Securities)
641208103
(CUSIP Number)
STAFFORD CAPITAL MANAGEMENT LLC
ROBERT M. STAFFORD
275 BATTERY STREET, SUITE 1600
SAN FRANCISCO, CA. 94111
415-362-6120
December 31, 2011
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
Cusip No. 641208103
_________________________________________________________________________
1. NAME OF REPORTING PERSON
STAFFORD CAPITAL MANAGEMENT LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
94-3338814
_________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(A) [ ]
(B) [X] Reporting Person is affiliated with other persons.
_________________________________________________________________________
3. SEC USE ONLY
_________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
_________________________________________________________________________
Number of 5. SOLE VOTING POWER
Shares 2,713,920
Beneficially -------------------------------------------------------
Owned by Each 6. SHARED VOTING POWER
Reporting 0
Person With -------------------------------------------------------
7. SOLE DISPOSITIVE POWER
2,713,920
-------------------------------------------------------
8. SHARED DISPOSITIVE POWER
0
_________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,713,920 SHARES
_________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES.
[ ]
_________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.93%
_________________________________________________________________________
12. TYPE OF REPORTING PERSON
IA
_________________________________________________________________________
CUSIP No. 641208103
_________________________________________________________________________
1. NAME OF REPORTING PERSON
CRAIG A. STEPHENS
XXX-XX-XXXX
_________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. [ ]
b. [X] Reporting Person is affiliated with other persons.
_________________________________________________________________________
3. SEC USE ONLY
_________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
_________________________________________________________________________
5. SOLE VOTING POWER
744,000 SHARES
_________________________________________________________________________
Number of 5. SOLE VOTING POWER
Shares 744,000
Beneficially -------------------------------------------------------
Owned by Each 6. SHARED VOTING POWER
Reporting 0
Person With -------------------------------------------------------
7. SOLE DISPOSITIVE POWER
744,000
-------------------------------------------------------
8. SHARED DISPOSITIVE POWER
0
_________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
744,000 SHARES
_________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[ ]
_________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.4%
_________________________________________________________________________
12. TYPE OF REPORTING PERSON
IN
_________________________________________________________________________
CUSIP No. 641208103
_________________________________________________________________________
1. NAME OF REPORTING PERSON
PACIFIC MANAGEMENT, LTD
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
94-3024744
_________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. [ ]
b. [X] Reporting Person is affiliated with other persons.
_________________________________________________________________________
3. SEC USE ONLY
_________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
_________________________________________________________________________
Number of 5. SOLE VOTING POWER
Shares 211,071
Beneficially --------------------------------------------------------
Owned by Each 6. SHARED VOTING POWER
Reporting 0
Person With --------------------------------------------------------
7. SOLE DISPOSITIVE POWER
211,071
--------------------------------------------------------
8. SHARED DISPOSITIVE POWER
0
________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
211,071 SHARES
__________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES.
[ ]
__________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.69%
__________________________________________________________________________
12. TYPE OF REPORTING PERSON
IA, PN
__________________________________________________________________________
CUSIP No. 641208103
________________________________________________________________________
1. NAME OF REPORTING PERSON
ROBERT M. STAFFORD
xxx-xx-xxxx
_________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. [ ]
b. [X] Reporting Person is affiliated with other persons.
_________________________________________________________________________
3. SEC USE ONLY
_________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_________________________________________________________________________
Number of 5. SOLE VOTING POWER
Shares 56,095
Beneficially -------------------------------------------------------
Owned by Each 6. SHARED VOTING POWER
Reporting 0
Person With -------------------------------------------------------
7. SOLE DISPOSITIVE POWER
56,095
-------------------------------------------------------
8. SHARED DISPOSITIVE POWER
0
_________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
56,095 SHARES
_________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[ ]
__________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.18%
__________________________________________________________________________
12. TYPE OF REPORTING PERSON
IN
__________________________________________________________________________
CUSIP No. 641208103
ITEM 1 (a) Name of Issuer:
NETWORK EQUIPMENT TECHNOLOGIES
ITEM 1 (b) Address of Issuers Principal Executive Offices:
6900 Paseo Padre Parkway
Fremont, CA. 94555
ITEM 2 (a) Name of Person Filing:
Stafford Capital Management, LLC
Registered Investment Advisor acting under the
Advisors Act of 1940
Robert M. Stafford, CEO, Chairman
ITEM 2 (b) Address of Principal Business Office:
275 Battery Street, Suite 1600
San Francisco, CA. 94111
ITEM 2 (c) Citizenship:
Stafford Capital Management, LLC California
Pacific Management, Ltd California
Robert M. Stafford United States Citizen
Craig A. Stephens United States Citizen
ITEM 2 (d) Title of Class of Securities:
Common Stock, Par Value .01c/Share
ITEM 2 (e) Cusip Number
641208103
CUSIP No. 641208103
ITEM 3 If this statement is filed pursuant to Rule 13-d-1(b)or
(c),check whether the person filing is:
(a) [ ] A broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] A bank as defined in section 3(a)(6) of the Act (15
U.S.C.78c).
(c) [ ] An insurance company as defined in section 3(a)(19) of the
Act(15 U.S.C.78c).
(d) [ ] An investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C.80a-8).
(e) [ X ] An investment adviser in accordance with Rule 13-d-
1(b)(1)(ii)(E)*
(f) [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C.1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box [ ]
* See exhibit B
CUSIP No. 641208103
ITEM 4 Ownership.
(a) Amount Beneficially Owned: 3,725,086
Shares
(b) Percent of Class 12.25%
(c) Number of Shares as to which the person has:
(i) Sole Power to vote or to direct the vote: 3,725,086
Shares
(ii) Shared Power to vote or to direct the vote: 0
Shares
(iii) Sole power to dispose or to direct the 3,725,086
Shares
(iv) Shared power to dispose or to direct the 0
disposition of: Shares
ITEM 5 Ownership of Five Percent of Less of Class.
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following.
ITEM 6 Ownership of More Than Five Percent on Behalf of Another
Person.
Not Applicable.
ITEM 7 Identification and Classification of the Subsidiary
Acquired the Security Being Reported on By the Parent
Holding Company.
Not Applicable.
ITEM 8 Identification and Classification of Members of the Group.
See Item 2(a)-(c) and Exhibit A
ITEM 9 Notice of Dissolution of Group.
Not Applicable.
CUSIP No. 641208103 SC 13G
ITEM 10 Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant of any transaction having that purpose or effect.
____________________________________________________________________
Date: February 8, 2012
SIGNATURE
By: Robert M. Stafford
-----------------------
Chairman, CEO
Stafford Capital Management
By: Craig A. Stephens
------------------------
President
Stafford Capital Management
By: Robert M. Stafford
------------------------
General Partner
Pacific Management, Ltd.
EXHIBIT A
Stafford Capital Management, LLC
Network Equipment Technologies
Cusip No 641208103
SC 13G Filing for December 31, 2011
STAFFORD CAPITAL MANAGEMENT, LLC
Investment Advisory Clients 2,713,920 Shares
PACIFIC MANAGEMENT, LTD.
Pacific Asset Partners 211,071 Shares
COMPANY OFFICERS:
Craig A. Stephens Family* 744,000 Shares
Craig Stephens IRA 373,000 Shares
Craig Stephens 200,000 Shares
Sara Stephens 125,000 Shares
John Stephens 16,000 Shares
Clark Stephens 16,000 Shares
Charles Stephens 14,000 Shares
Robert M. Stafford 56,095 Shares
Stafford Family Trust 56,095 Shares
TOTAL SHARES REPORTED 3,725,086 Shares
*Craig Stephens has voting control over related family accounts.
EXHIBIT B
Stafford Capital Management, LLC
Network Equipment Technologies
Cusip No 641208103
SC 13G Filing for December 31, 2011
Stafford Capital Management, LLC (SCM) is reporting shares
cumulatively held in investment advisory client accounts, accounts
of officers of the company, and shares held in a separately managed
(by the officers of SCM) and registered partnership. This statement
is filed pursuant to Rule 13G and the party filing is an Investment
Advisor registered under the section 203 of the Investment Advisors
Act of 1940. SCM disclaims direct beneficial ownership of all such
securities. Each client, company officer, and the separately
managed partnership (Pacific Asset Partners), have the right to
receive dividends, and/or proceeds from the sale of securities.
Pacific Management, Ltd., the registered Advisor of Pacific Asset
Partners, disclaims any direct beneficial ownership of all such
securities, except to the extent of their respective pecuniary
interest therein. Pacific Management, Ltd., Craig Stephens and
Robert Stafford are filing jointly with SCM, but not as members of a
group, and expressly disclaim membership in a group. To the
knowledge and information available to SCM at the date of this
filing, the advisor acknowledges that no one client, company
officer, or the partnership has an interest in 5% or more of the
securities identified hereinabove.