0001144204-14-009355.txt : 20140214 0001144204-14-009355.hdr.sgml : 20140214 20140214125958 ACCESSION NUMBER: 0001144204-14-009355 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140214 DATE AS OF CHANGE: 20140214 GROUP MEMBERS: PAUL J. SOLIT GROUP MEMBERS: POTOMAC CAPITAL MANAGEMENT INC. GROUP MEMBERS: POTOMAC CAPITAL PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MANAGEMENT NETWORK GROUP INC CENTRAL INDEX KEY: 0001094814 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 481129619 FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-58049 FILM NUMBER: 14613723 BUSINESS ADDRESS: STREET 1: 7300 COLLEGE BLVD., STE 302 CITY: OVERLAND PARK STATE: KS ZIP: 66210 BUSINESS PHONE: 9133459315 MAIL ADDRESS: STREET 1: 7300 COLLEGE BLVD., STE 302 CITY: OVERLAND PARK STATE: KS ZIP: 66210 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: POTOMAC CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001233369 IRS NUMBER: 133984298 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 825 THIRD AVENUE STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2125215115 MAIL ADDRESS: STREET 1: 825 THIRD AVENUE STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 v368517_sc13ga.htm SC 13G/A

  UNITED STATES  

 SECURITIES AND EXCHANGE COMMISSION 

 Washington, D.C. 20549 

 

 

 SCHEDULE 13G  

 

 Under the Securities Exchange Act of 1934  

 

 (Amendment No. 10 ) *  

 

 The Management Network Group, Inc.

 

 (Name of Issuer) 

 

 Common Stock, par value $0.005 per share

 

 (Title of Class of Securities) 

 

 561693102

 

(CUSIP Number) 

 

 December 31, 2013

 

 (Date of Event Which Requires Filing of this Statement) 

 

 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: 

 

¨Rule 13d-1(b)

 

xRule 13d-1(c)

  

¨Rule 13d-1(d)

 

 

 * 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 disclosures 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). 

 
 

 

 

CUSIP No.

 

561693102

             
                     
                     
1. Names of Reporting Persons.       Potomac Capital Partners, L.P.
  I.R.S. Identification Nos. of above persons (entities only).  
   
   
2. Check the Appropriate Box if a Member of a Group (See Instructions)
                     
  (a) ¨                  
                     
  (b) ¨                  
                     
3. SEC Use Only              
                     
4. Citizenship or Place of Organization Delaware
                     
Number of 5. Sole Voting Power 0
Shares Bene-      
ficially owned 6. Shared Voting Power 525,543
by Each      
Reporting 7. Sole Dispositive Power 0
Person With:      
  8. Shared Dispositive Power 525,543
                     
9. Aggregate Amount Beneficially Owned by Each Reporting Person 525,543
                     
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
                     
11. Percent of Class Represented by Amount in Row (9) 6.5%
 
12. Type of Reporting Person (See Instructions)  PN            
                     

 

Page 2 of 8 pages

                                     

 

 

 
 

 

 

CUSIP No.

561693102

             
                     
                     
1. Names of Reporting Persons. Paul J. Solit
  I.R.S. Identification Nos. of above persons (entities only).  
   
   
2. Check the Appropriate Box if a Member of a Group (See Instructions)
                     
  (a) ¨                  
                     
  (b) ¨                  
                     
3. SEC Use Only              
                     
4. Citizenship or Place of Organization USA
                     
Number of 5. Sole Voting Power 93,158 (1)
Shares Bene-      
ficially owned 6. Shared Voting Power 525,543
by Each      
Reporting 7. Sole Dispositive Power 93,158 (1)
Person With:      
  8. Shared Dispositive Power 525,543
                     
9. Aggregate Amount Beneficially Owned by Each Reporting Person 618,701 (1)
                     
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
                     
11. Percent of Class Represented by Amount in Row (9) 7.7%
 
12. Type of Reporting Person (See Instructions) IN          
                     

(1)     Includes (i) 25,940 Shares held in accounts in the name of Mr. Solit’s minor children and (ii) 11,200 Shares held in an account in the name of Mr. Solit’s spouse. 

 

Page 3 of 8 pages

                                 

 

 

 
 

 

 

 

CUSIP No.

561693102

             
                     
                     
1. Names of Reporting Persons. Potomac Capital Management, L.L.C.
  I.R.S. Identification Nos. of above persons (entities only).  
   
   
2. Check the Appropriate Box if a Member of a Group (See Instructions)
                     
  (a) ¨                  
                     
  (b) ¨                  
                     
3. SEC Use Only              
                     
4. Citizenship or Place of Organization New York
                     
Number of 5. Sole Voting Power 0
Shares Bene-      
ficially owned 6. Shared Voting Power 525,543
by Each      
Reporting 7. Sole Dispositive Power 0
Person With:      
  8. Shared Dispositive Power 525,543
                     
9. Aggregate Amount Beneficially Owned by Each Reporting Person 525,543
                     
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
                     
11. Percent of Class Represented by Amount in Row (9) 6.5%
 
12. Type of Reporting Person (See Instructions) OO            
                     
                                   

 

Page 4 of 8 pages

 

 
 

 

                     

CUSIP No.

561693102

             
                     
                     
1. Names of Reporting Persons. Potomac Capital Management Inc.
  I.R.S. Identification Nos. of above persons (entities only).  
   
   
2. Check the Appropriate Box if a Member of a Group (See Instructions)
                     
  (a) ¨                  
                     
  (b) ¨                  
                     
3. SEC Use Only              
                     
4. Citizenship or Place of Organization New York
                     
Number of 5. Sole Voting Power 0
Shares Bene-      
ficially owned 6. Shared Voting Power 525,543
by Each      
Reporting 7. Sole Dispositive Power 0
Person With:      
  8. Shared Dispositive Power 525,543
                     
9. Aggregate Amount Beneficially Owned by Each Reporting Person 525,543
                     
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
                     
11. Percent of Class Represented by Amount in Row (9) 6.5%
 
12. Type of Reporting Person (See Instructions) CO            
                     
                     

 

Page 5 of 8 pages

                                   

 

 

 
 

 

 

Item 1.

(a)Name of Issuer: The Management Network Group, Inc. (the “Issuer”)
(b)Address of Issuer’s Principal Executive Offices: 7300 College Blvd., Suite 302, Overland Park, KS 66210.

 

Item 2. 

(a)Name of Person Filing:

 

Potomac Capital Partners L.P. (“PCP”)

 

Potomac Capital Management, L.L.C. (“Potomac Management”)

 

Potomac Capital Management Inc. (“Potomac IM”)

 

Paul J. Solit (“Mr. Solit” and, together with PCP, Potomac Management and Potomac IM, each a “Reporting Person” and collectively, the “Reporting Persons”).

 

(b)Address of Principal Business Office or, if none, Residence:

The principal business address of each of the Reporting Persons is 825 Third Avenue, 33rd Floor, New York, New York 10022.

 

(c)Citizenship:

PCP is organized under the laws of the State of Delaware.

Potomac Management is organized under the laws of the State of New York.

Potomac IM is organized under the laws of the State of New York.

Mr. Solit is a citizen of the United States of America.

 

(d)Title of Class of Securities: Common Stock, par value $0.005 per share (the “Shares”).

 

(e)CUSIP Number: 561693102

 

Item 3. If this statement is filed pursuant to 240.13d-1(b), or 240.13d-2(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)¨  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)¨  Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)¨  Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e)¨  An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);

(f)¨  An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);

(g)¨  A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);

(h)¨  A savings associations 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 240.13d-1(b)(1)(ii)(J);

  

Item 4. Ownership.

See Items 5-9 and 11 on the cover page for each Reporting Person, and Item 2. The percentage ownership of each Reporting Person is based on 8,051,382 Shares outstanding as of November 7, 2013, as reported by the Issuer on its Form 10-Q filed with the SEC on November 12, 2013.

 

Potomac Management is the general partner of PCP. Potomac IM is the investment manager of PCP. Mr. Solit is the principal and controlling person of Potomac Management and Potomac IM. By virtue of these relationships, each of Potomac Management, Potomac IM and Mr. Solit may be deemed to beneficially own the Shares owned directly by PCP.


Page 6 of 8 pages

 

 
 

 

The filing of this Schedule 13G shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the Shares reported herein. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that are not directly owned by such Reporting Person.

 

 

Item 5. Ownership of Five Percent or Less of a 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 thefollowing ¨.

 

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.

 

Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

 

Not applicable.

 

Item 8. Identification and Classification of Members of the Group

 

 See Exhibit 99.1 to Amendment No. 9 to the Schedule 13G filed with the SEC on February 7, 2013. 

 

Item 9. Notice of Dissolution of Group

 

Not applicable.

 

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 in any transaction having that purpose or  effect.

 

Page 7 of 8 Pages

 

 
 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 12, 2014 

  

  Potomac capital partners l.p.
  By: Potomac Capital Management, L.L.C., its General Partner
   
  By: /s/ Paul J. Solit
  Name: Paul J. Solit
  Title: Managing Member
   
  Potomac Capital Management, L.L.C.
   
  By: /s/ Paul J. Solit
  Name: Paul J. Solit
  Title: Managing Member
   
  Potomac Capital Management Inc.
   
  By: /s/ Paul J. Solit
  Name: Paul J. Solit
  Title: President
   
  /s/ Paul J. Solit
  Paul J. Solit

 

Page 8 of 8 pages