-----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, QeGAK/G2/u2IOeDg7Ko2r+Xi4jtL1U+0f7vf+qkcgutdfAwilcb0H/twZYr4uOpE zC2KmbW4o1bOonFmgUlknQ== 0001116679-04-001291.txt : 20040526 0001116679-04-001291.hdr.sgml : 20040526 20040526121643 ACCESSION NUMBER: 0001116679-04-001291 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040526 GROUP MEMBERS: AULT GLAZER & COMPANY INVESTMENT MANAGEMENT LLC GROUP MEMBERS: MILTON C. AULT, III SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN CAPITAL CORP CENTRAL INDEX KEY: 0000812301 IRS NUMBER: 133419202 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38889 FILM NUMBER: 04831621 BUSINESS ADDRESS: STREET 1: 450 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2124862323 MAIL ADDRESS: STREET 1: 450 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CAPITAL CORP/ DE DATE OF NAME CHANGE: 19990407 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AULT GLAZER & CO INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001212504 IRS NUMBER: 954696208 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 100 WILSHIRE BLVD STREET 2: 15TH FLOOR CITY: SANTA MONICA STATE: CA ZIP: 90401 BUSINESS PHONE: 3107521442 MAIL ADDRESS: STREET 1: 100 WILSHIRE BLVD STREET 2: 15TH FLOOR CITY: SANTA MONICA STATE: CA ZIP: 90401 FORMER COMPANY: FORMER CONFORMED NAME: GLAZER AULT & CO INVESTMENT MANAGEMENT LLC DATE OF NAME CHANGE: 20021231 SC 13D/A 1 ault13da.txt AMENDMENT NO. 2 ------------------------------- OMB APPROVAL ------------ OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden Hours per response........11 ------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Franklin Capital Corp. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $1.00 par value - -------------------------------------------------------------------------------- (Title of Class Securities) 35252P105 ------------------------------------------------------------------------------- (CUSIP Number) Lynne Silverstein (310) 752-1442 Ault Glazer & Company Investment Management LLC, 100 Wilshire Blvd, 15th Floor, Santa Monica, CA 90401 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications May 19, 2004 - -------------------------------------------------------------------------------- (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 Sections 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 Section 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. Page 1 of 10 pages CUSIP No. 35252P105 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Ault Glazer & Company Investment Management LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)|_|.................................................................. ------------------------------------------------------------------ (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 Delaware....................... ---------------------------------- - -------------------------------------------------------------------------------- 7. Sole Voting Power 332,827.......................... -------------------------------------- Number of --------------------------------------------------------------- Shares 8. Shared Voting Power 0............................. Beneficially ------------------------------------ Owned by Each --------------------------------------------------------------- Reporting 9. Sole Dispositive Power 332,827....................... Person With: --------------------------------- --------------------------------------------------------------- 10. Shared Dispositive Power .......................... -------------------------------- - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 332,827. ---------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ................................................. ------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 32.63%........... -------------------- - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IA...................................................................... - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- Page 2 of 10 pages CUSIP No. 35252P105 1. Name of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Milton C. Ault, III - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)|_|.................................................................. ------------------------------------------------------------------ (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............................ ---------------------------------- - -------------------------------------------------------------------------------- 7. Sole Voting Power 332,827.......................... -------------------------------------- Number of --------------------------------------------------------------- Shares 8. Shared Voting Power 0............................. Beneficially ------------------------------------ Owned by Each --------------------------------------------------------------- Reporting 9. Sole Dispositive Power 332,827....................... Person With: --------------------------------- --------------------------------------------------------------- 10. Shared Dispositive Power 0.......................... -------------------------------- - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 332,827. ---------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ................................................. ------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 32.63%........... -------------------- - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- IN/HC................................................................... - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- ............................................................................. - -------------------------------------------------------------------------------- Page 3 of 10 pages Page 4 of 10 Item 1 Security and Issuer This statement relates to the Class A Common Stock, $1.00 par value ("Common Stock"), issued by Franklin Capital Corp. ("FCC"), a Delaware Corporation. The address of the principal executive offices of FCC is 450 Park Avenue, 29th Floor, New York, New York 10022. Item 2 Identity and Background Name: Ault Glazer & Company Investment Management LLC ("Adviser") Place of Organization: Delaware Principal Business: Investment Adviser Address: 100 Wilshire Blvd., 15th Floor, Santa Monica, CA 90401 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Name: Milton C. Ault, III ("Ault") Address: 100 Wilshire Blvd., 15th Floor, Santa Monica, CA 90401 Criminal Proceedings: None Applicable Civil, Judicial or Administrative Proceedings: None Citizenship: United States Ault is the controlling and managing member of Adviser. Adviser's beneficial ownership of the Common Stock is direct as a result of Adviser's discretionary authority to buy, sell and vote shares of such Common Stock for its investment advisory clients. Ault's beneficial ownership of the Common Stock is indirect as a result of Ault's control of Adviser. Item 3 Source and amount of Funds or other Consideration The aggregate amount of funds used by Adviser to purchase FCC shares of Common Stock was approximately $1,454,261. Such amount was derived from advisory client accounts. Item 4 Purpose of Transaction The Reporting Persons have concerns regarding the ability and willingness of current FCC management to maximize shareholder value. Adviser intends to recommend that FCC management work with Adviser to unlock what Adviser believes to be the true shareholder value of FCC. Adviser may recommend that FCC management effect one or more of the following changes: an extraordinary corporate transaction (which could include the sale or spinoff of one or more of FCC's business lines); a change in the present board of directors or management of FCC; a sale or transfer of a material amount of assets of FCC; a material change in the present capitalization or dividend policy of FCC, and a class of equity securities of FCC becoming eligible for Page 5 of 10 termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934. Subject to availability at prices deemed favorable, the Reporting Persons may acquire additional shares of Common Stock of FCC 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 FCC from time to time in the open market, in privately negotiated transactions or otherwise. Although the foregoing represents the range of activities presently contemplated by the Reporting Persons with respect to FCC and the Common Stock, it should be noted that the possible activities of the Reporting Persons are subject to change at any time.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 May 19, 2004, the Reporting Persons directly or indirectly beneficially owned 332,827 shares, or 32.63%, of Common Stock of FCC (the percentage of the shares of Common Stock owned is based on 1,020,100 shares of Common Stock outstanding as of March 9, 2004, as reported by FCC in its Form 10-Q filed on March 30, 2004). (1) Adviser owned 332,827 shares (32.63%) (2) Ault owned 332,827 shares (32.63%) (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 in the past 60 days.
- ----------------------------------------------------------------------------------------- Party Date Amount Bought Price per Share Where & How (Sold) Effected - ----------------------------------------------------------------------------------------- Adviser 05/19/04 (500) 5.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/19/04 (500) 5.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/19/04 (400) 5.510 Open market - ----------------------------------------------------------------------------------------- Adviser 05/19/04 (100) 5.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/18/04 (100) 6.710 Open market - ----------------------------------------------------------------------------------------- Adviser 05/18/04 (400) 6.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/18/04 (500) 6.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 800 5.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 5.800 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 5.810 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 2,400 5.940 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 800 5.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 400 5.980 Open market - -----------------------------------------------------------------------------------------
Page 6 of 10
- ----------------------------------------------------------------------------------------- Party Date Amount Bought Price per Share Where & How (Sold) Effected - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.150 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 6.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 6.450 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 400 6.550 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 400 6.665 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 300 6.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 6.740 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 2,000 6.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 33,500 6.8909 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 400 6.940 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 1,000 6.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 400 7.360 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 500 7.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 200 7.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 800 7.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 100 8.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/17/04 900 8.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 1,000 3.9041 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 3,000 4.3933 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 200 4.930 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 400 4.970 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 300 4.990 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 8,100 5.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 200 5.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 100 5.150 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 35,000 5.5036 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 500 5.650 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 200 5.780 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 1,000 5.830 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 1,800 5.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 700 5.910 Open market - ----------------------------------------------------------------------------------------- Adviser 05/14/04 2,300 5.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 100 2.970 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,100 2.980 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 13,000 3.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 100 3.050 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,500 3.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 100 3.150 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 100 3.190 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 600 3.200 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 100 3.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,200 3.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 3.530 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 3.600 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 300 3.650 Open market - -----------------------------------------------------------------------------------------
Page 7 of 10
- ----------------------------------------------------------------------------------------- Party Date Amount Bought Price per Share Where & How (Sold) Effected - ----------------------------------------------------------------------------------------- Adviser 05/13/04 6,000 3.730 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 3.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 3.970 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 3,000 3.990 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 5,900 4.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 11,600 4.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 4.220 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 4.240 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 200 4.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 800 4.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 4.360 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,200 4.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 800 4.450 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,200 4.650 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 4.690 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,100 4.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,000 4.710 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,200 4.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,600 4.800 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 4.880 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,500 4.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 200 4.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 6,400 5.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,000 5.010 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,500 5.050 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,600 5.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 200 5.120 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 1,500 5.200 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,300 5.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,500 5.260 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 300 5.270 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 300 5.280 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 3,100 5.290 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,800 5.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 3,700 5.350 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 10,000 5.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 13,500 5.4148 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 900 5.450 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 700 5.480 Open market - ----------------------------------------------------------------------------------------- Adviser 05/13/04 2,627 5.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 200 1.580 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 400 1.620 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 400 1.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 400 1.780 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 200 1.790 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 200 1.820 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,300 2.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 100 2.450 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 2,000 2.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 200 2.520 Open market - -----------------------------------------------------------------------------------------
Page 8 of 10
- ----------------------------------------------------------------------------------------- Party Date Amount Bought Price per Share Where & How (Sold) Effected - ----------------------------------------------------------------------------------------- Adviser 05/12/04 800 2.600 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 2.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 500 2.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 500 2.800 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 2.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,400 3.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 200 3.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 400 3.510 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,700 3.600 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 400 3.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 500 3.730 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 3.740 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 3.750 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 3.800 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 2,000 3.810 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,500 3.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 500 3.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,200 4.050 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 5,000 4.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.200 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.220 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.240 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 3,000 4.300 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 2,000 4.350 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,800 4.400 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.420 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 3,200 4.480 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 4,000 4.600 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 2,900 4.700 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,600 4.800 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 1,000 4.820 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 3.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (500) 3.950 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (600) 4.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (2,400) 4.100 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (700) 4.200 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 4.230 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (2,500) 4.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (500) 4.350 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (2,000) 4.900 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 5.150 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 5.250 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (2,000) 5.350 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 5.500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (1,000) 5.550 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (400) 5.850 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (600) 6.000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 (300) 4.320 Open market - -----------------------------------------------------------------------------------------
Page 9 of 10
- ----------------------------------------------------------------------------------------- Party Date Amount Bought Price per Share Where & How (Sold) Effected - ----------------------------------------------------------------------------------------- Adviser 05/12/04 24,100 3.8654 Open market - ----------------------------------------------------------------------------------------- Adviser 05/12/04 30,300 4.0266 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 500 1.3000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 4,500 1.4000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 20,000 1.5000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 200 1.1500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 600 1.2000 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 400 1.2500 Open market - ----------------------------------------------------------------------------------------- Adviser 05/11/04 500 1.4500 Open market - -----------------------------------------------------------------------------------------
(d) Not Applicable (e) Not Applicable Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Ault controls and manages the Adviser who makes voting and dispositive decisions for its investment advisory clients. Item 7 Material to Be Filed as Exhibits Exhibit A: Joint Filing Agreement Pursuant to Rule 13d-1 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: May 25, 2004 Ault Glazer & Company Investment Management LLC /s/ Milton C. Ault ------------------------------------------ Milton C. Ault, III, Managing Member Milton C. Ault, III /s/ Milton C. Ault ------------------------------------------ Page 10 of 10 EXHIBIT A --------- Joint Filing Agreement Pursuant to Rule 13d-1 --------------------------------------------- This agreement is made pursuant to Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934 (the "Act") by and among the parties listed below, each referred to herein as a "Joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by Sections 13(g) or 13(d) of the Act and the Rules thereunder may be filed on each of their behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Dated: May 25, 2004 Ault Glazer & Company Investment Management LLC /s/ Milton C. Ault ------------------------------------------ Milton C. Ault, III, Managing Member Milton C. Ault, III /s/ Milton C. Ault ------------------------------------------ -----END PRIVACY-ENHANCED MESSAGE-----