-----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, ClQDAMiMs+66Jkq7dk8Y9bwQV5+BNjvf+arXY+6Cx5qyBJ0KJktWKxWbhZU9xerF eFVz91W3N6YW2wUN2nxaAw== 0000935836-98-000038.txt : 19980220 0000935836-98-000038.hdr.sgml : 19980220 ACCESSION NUMBER: 0000935836-98-000038 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980219 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COASTCAST CORP CENTRAL INDEX KEY: 0000914479 STANDARD INDUSTRIAL CLASSIFICATION: NONFERROUS FOUNDRIES (CASTINGS) [3360] IRS NUMBER: 953454926 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-42961 FILM NUMBER: 98545467 BUSINESS ADDRESS: STREET 1: 3025 E VICTORIA ST CITY: RANCHO DOMINGUEZ STATE: CA ZIP: 90221 BUSINESS PHONE: 3106380595 MAIL ADDRESS: STREET 1: 3025 EAST VICTORIA ST CITY: RANCHO DOMINIQUEZ STATE: CA ZIP: 90221 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0000909450 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 50 OSGOOD PLACE PENTHOUSE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4159811039 MAIL ADDRESS: STREET 1: 50 OSGOOD PLACE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19951108 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19930720 SC 13D 1 OMB APPROVAL OMB Number:3235-0145 Expires: August 31, 1999 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) Coastcast Corporation (Name of Issuer) Common Stock - --------------------------------------------------------------------------- (Title of Class of Securities) 19057T108 (CUSIP Number) Elizabeth D. Giorgis Gruber and McBaine Capital Management 50 Osgood Place, Penthouse San Francisco, CA 94133 (415) 981-1039 - --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 2, 1998 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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 disclosures provided in a prior cover page. The information required on 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 currently valid OMB control number. SEC 1746 (10-97) SCHEDULE 13D CUSIP No. 19057T108 Page 2 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Gruber and McBaine Capital Management, L.L.C. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 420,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 420,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 420,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.7 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 3 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Jon D. Gruber - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - --------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 61,600 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 420,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 61,600 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 420,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 481,600 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 4 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON J. Patterson McBaine - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF, PF - --------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 14,900 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 420,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 14,900 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 420,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 434,900 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.9 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 5 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Thomas O. Lloyd-Butler - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - --------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 420,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 420,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 420,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.7 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 6 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Lagunitas Partners, a California Limited Partnership - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 201,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 201,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 201,500 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.3 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 7 of 15 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON GMJ Investments, L.P. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 3 SEC USE ONLY - --------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - --------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(E)/ / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,500 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,500 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,500 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1 - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - --------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D CUSIP No. 19057T108 Page 8 of 15 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of Coastcast Corporation, a California corporation ("PAR"). The principal executive office of PAR is located at 3025 East Victoria Street, Rancho Dominguez, CA 90221. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) Gruber and McBaine Capital Management, L.L.C. (LLC); Jon D. Gruber (Gruber); J. Patterson McBaine (McBaine); Thomas O. Lloyd-Butler (TLB); Lagunitas Partners, L.P., a California limited partnership (Lag); GMJ Investments, L.P., a California limited partnership (GMJ). (b) The business address of LLC, Gruber, McBaine, Lag, and GMJ is 50 Osgood Place, Penthouse, San Francisco, CA 94133. (c) LLC is an investment adviser. Gruber and McBaine are the managers of LLC, and Gruber, McBaine, TLB and Gruber and McBaine Capital Management, a California corporation, are the members of LLC. Lag and GMJ are investment limited partnerships. LLC is the general partner of Lag and GMJ. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was 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. (f) All such persons are citizens of the United States of America. SCHEDULE 13D CUSIP No. 19057T108 Page 9 of 15 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Stock were as follows: Purchaser Source of Funds Amount LLC Capital Under Management $1,724,152 Gruber Personal Funds $579,198 McBaine Personal Funds $70,303 Lag Working Capital $1,586,157 GMJ Working Capital $43,990 ITEM 4. PURPOSE OF TRANSACTION. The sole purpose of the purchase of the Stock reported herein was and is for investment. SCHEDULE 13D CUSIP No. 19057T108 Page 10 of 15 Pages ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared LLC 420,000 4.7 0 420,000 0 420,000 Gruber 481,600 5.4 61,600 420,000 61,600 420,000 McBaine 434,900 4.9 14,900 420,000 14,900 420,000 TLB 420,000 4.7 0 420,000 0 420,000 Lag 201,500 2.3 0 201,500 0 201,500 GMJ 5,500 0.1 0 5,000 0 5,500 The persons filing this statement effected the following transactions in the Stock on the dates indicated, and such transactions are the only transactions in the Stock by the persons filing this statement since 11/2/97: SCHEDULE 13D CUSIP No. 19057T108 Page 11 of 15 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used Lag P 11/13/97 7500 13.85 BEST Gruber P 11/13/97 2500 13.85 BEST McBaine P 11/13/97 500 13.85 BEST LLC P 11/13/97 4500 13.85 BEST LLC P 11/13/97 9500 13.74 SASI McBaine P 11/13/97 500 13.74 SASI Gruber P 11/13/97 1000 13.55 SNDV Lag P 11/14/97 4500 13.74 CHGO LLC P 11/14/97 2500 13.74 CHGO Gruber P 11/14.97 2500 13.74 CHGO McBaine P 11/14/97 500 13.74 CHGO Lag P 11/18/97 7000 14.28 SASI LLC P 11/18/97 3500 14.28 SASI Gruber P 11/18/97 2000 14.28 SASI Lag P 11/19/97 8000 14.29 SASI LLC P 11/19/97 3600 14.29 SASI GMJ P 11/19/97 1500 14.29 SASI Gruber P 11/19/97 3000 14.29 SASI Lag P 11/20/97 5000 14.30 SASI LLC P 11/20/97 1500 14.30 SASI Gruber P 11/20/97 2500 14.30 SASI McBaine P 11/20/97 1000 14.30 SASI Lag P 11/25/97 3000 13.68 WSLS Gruber P 11/25/97 1000 13.68 WSLS LLC P 11/25/97 1700 13.68 WSLS Lag P 11/28/97 4500 14.15 DAKN LLC P 11/28/97 2000 14.15 DAKN Gruber P 11/28/97 3500 14.15 DAKN LLC P 12/1/97 4000 14.30 MONT LLC P 12/1/97 4700 14.25 FACT McBaine P 12/2/97 1000 14.08 FACT LLC P 12/2/97 3500 14.08 FACT Lag P 12/2/97 4300 14.08 FACT Gruber P 12/2/97 1500 14.08 FACT Lag P 12/3/97 6000 14.23 MONT LLC P 12/3/97 1000 14.23 MONT Gruber P 12/3/97 3000 14.23 MONT Gruber P 12/4/97 1000 14.36 SNDV LLC P 12/4/97 800 14.36 SNDV Lag P 12/5/97 1000 14.55 SNDV LLC P 12/5/97 1800 14.55 SNDV Gruber P 12/5/97 1400 14.55 SNDV Lag P 12/11/97 4000 14.80 MONT LLC P 12/11/97 1000 14.80 MONT Lag P 12/12/97 5000 14.79 FACT SCHEDULE 13D CUSIP No. 19057T108 Page 12 of 15 Pages Purchase Number Price Broker Name or Sale Date of Shares Per Share Used LLC P 12/12/97 3000 14.79 FACT LLC P 12/12/97 3000 14.80 MONT LLC P 12/15/97 1300 14.51 BEST LLC P 12/16/97 6500 14.62 BEST Gruber P 12/16/97 1000 14.62 BEST Lag P 12/17/97 5000 15.03 BEST LLC P 12/17/97 1500 15.03 BEST McBaine P 12/17/97 600 15.03 BEST Lag P 12/18/97 4000 15.07 BEST LLC P 12/18/97 1100 15.07 BEST Gruber P 12/18/97 1000 15.07 BEST Lag P 12/22/97 9000 13.80 SASI Gruber P 12/22/97 2000 13.80 SASI LLC P 12/22/97 3000 13.80 SASI Gruber P 12/22/97 3000 14.30 WSLS LLC P 12/22/97 7000 14.30 WSLS LLC P 1/8/98 5000 14.93 SASI Lag P 1/12/98 2500 14.35 MONT LLC P 1/12/98 2500 14.35 MONT LLC P 1/12/98 400 14.18 BEST Lag P 1/13/98 4500 14.68 MONT LLC P 1/13/98 5500 14.68 MONT LLC P 1/13/98 3200 14.61 BEST Gruber P 1/13/98 2000 14.61 BEST Lag P 1/20/98 1500 15.03 ISIG LLC P 1/20/98 5200 15.03 ISIG LLC P 1/22/98 2200 15.10 MONT Lag P 2/2/98 5000 14.79 UBS LLC P 2/2/98 5000 14.79 UBS LLC P 2/2/98 500 14.30 SASI Lag P 2/3/98 10300 15.04 MONT LLC P 2/3/98 2900 15.04 MONT GMJ P 2/3/98 1500 15.04 MONT McBaine P 2/3/98 500 15.04 MONT Gruber P 2/3/98 2400 15.04 MONT LLC P 2/3/98 11400 14.95 SASI Lag P 2/3/98 3000 14.95 SASI Gruber P 2/3/98 900 14.95 SASI McBaine P 2/4/98 300 15.74 BRDG Gruber P 2/4/98 3100 15.74 BRDG Lag P 2/4/98 4100 15.74 BRDG LLC P 2/4/98 2500 15.74 BRDG LLC P 2/4/98 800 15.68 MONT Lag P 2/4/98 900 15.68 MONT All transactions were executed through the New York Stock Exchange. SCHEDULE 13D CUSIP No. 19057T108 Page 13 of 15 Pages ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC is the general partner of Lag and GMJ, pursuant to limited partnership agreements. These agreements provide to the general partner the authority, among other things, to invest the funds of GMJ and Lag in the Stock, to vote and dispose of those securities and to file this statement on behalf of GMJ and Lag. Also pursuant to those limited partnership agreements, LLC is entitled to fees based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to investment management agreements, LLC is authorized, among other things, to invest funds of its various investment advisory clients, and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on thirty days notice, and provide for fees payable to LLC based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to authority granted to LLC orally and under a Power of Attorney, LLC is authorized, among other things, to invest funds of various relatives and affiliates of Gruber and McBaine. Such authority may be terminated at any time on notice and there are no fees payable to LLC for those services. SCHEDULE 13D CUSIP No. 19057T108 Page 14 of 15 Pages ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed). SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED: February 18, 1998 Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by Gruber and McBaine Capital Management, L.L.C., General Partner, by J. Patterson McBaine, Manager Lagunitas Partners, a California Limited Partnership, by Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager SCHEDULE 13D CUSIP No. 19057T108 Page 15 of 15 Pages EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of common stock of PAR. For that purpose, the undersigned hereby constitute and appoint Gruber & McBaine Capital Management, L.L.C., as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED: February 18, 1998. Jon D. Gruber J. Patterson McBaine Thomas O. Lloyd-Butler Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager GMJ Investments, L.P., by Gruber and McBaine Capital Management, L.L.C., General Partner, by J. Patterson McBaine, Manager Lagunitas Partners, a California Limited Partnership, by Gruber and McBaine Capital Management, L.L.C., by J. Patterson McBaine, Manager C:\DMS\2217\027\0252015.WP -----END PRIVACY-ENHANCED MESSAGE-----