SEC NEWS DIGEST Issue 2006-02 January 4, 2006 COMMISSION ANNOUNCEMENTS STATEMENT OF THE SECURITIES AND EXCHANGE COMMISSION CONCERNING FINANCIAL PENALTIES The U.S. Securities and Exchange Commission today issued the following statement concerning financial penalties: Today the Commission announced the filing of two settled actions against corporate issuers, SEC v. McAfee, Inc. and In the Matter of Applix, Inc. In one, the company will pay a civil money penalty; in the other, a penalty is not part of the settlement. The question of whether, and if so to what extent, to impose civil penalties against a corporation raises significant questions for our mission of investor protection. The authority to impose such penalties is relatively recent in the Commission's history, and the use of very large corporate penalties is more recent still. Recent cases have not produced a clear public view of when and how the Commission will use corporate penalties, and within the Commission itself a variety of views have heretofore been expressed, but not reconciled. The Commission believes it important to provide the maximum possible degree of clarity, consistency, and predictability in explaining the way that its corporate penalty authority will be exercised. To this end, we are issuing this statement describing with particularity the framework for our penalty determinations in these two cases. We have issued these decisions, and this statement of principles, unanimously. In determining whether or not to impose penalties against the corporations in these cases, we carefully considered our statutory authority, and the legislative history surrounding that statutory authority. In 1990, Congress passed the Securities Enforcement Remedies and Penny Stock Reform Act (Remedies Act), which gave the Commission authority generally to seek civil money penalties in enforcement cases. The penalty provisions added by the Remedies Act expressly authorize the Commission to obtain money penalties from entities, including corporate issuers. These provisions also enhanced the Commission's authority to fine individuals. Today, we limit our discussion to penalties against corporations, although we view penalties against individual offenders as a critical component in punishing and deterring violative conduct. The Remedies Act legislative history contains express references to penalty assessments against corporate issuers of securities. In its Report on the legislation, the Senate Committee on Banking, Housing, and Urban Affairs expressly noted both that the civil money penalty provisions would be applicable to corporate issuers, and that shareholders ultimately may bear the cost of penalties imposed on corporate issuers. According to the Report, such penalties should be assessed when the securities law violation that is the basis of the penalty has resulted in an improper benefit to the shareholders. It also cautioned that the Commission and courts should, in considering corporate issuer penalties, take into account whether the penalty would be paid by shareholders who had been the principal victims of the violation: The Committee believes that the civil money penalty provisions should be applicable to corporate issuers, and the legislation permits penalties against issuers. However, because the costs of such penalties may be passed on to shareholders, the Committee intends that a penalty be sought when the violation results in an improper benefit to shareholders. In cases in which shareholders are the principal victims of the violations, the Committee expects that the SEC, when appropriate, will seek penalties from the individual offenders acting for a corporate issuer. Moreover, in deciding whether and to what extent to assess a penalty against the issuer, the court may properly take into account whether civil penalties assessed against corporate issuers will ultimately be paid by shareholders who were themselves victimized by the violations. The court also may consider the extent to which the passage of time has resulted in shareholder turnover. As this discussion indicates, a key question for the Commission is whether the issuer's violation has provided an improper benefit to the shareholders, or conversely whether the violation has resulted in harm to the shareholders. Where shareholders have been victimized by the violative conduct, or by the resulting negative effect on the entity following its discovery, the Commission is expected to seek penalties from culpable individual offenders acting for a corporation. This same point was made in the SEC's memorandum in support of the Remedies Act, which the then Chairman of the SEC, David Ruder, transmitted to the Senate in a January 18, 1989 letter. In addition to the benefit or harm to shareholders, the statute and its legislative history suggest several other factors that may be pertinent to the analysis of corporate issuer penalties. For example, the need for effective deterrence is discussed throughout the legislative history of the Remedies Act. The Senate Report also notes the importance of good compliance programs and observes that the availability of penalties may encourage development of such programs. The Senate Report also observes that penalties may serve to decrease the temptation to violate the law in areas where the perceived risk of detection of wrongdoing is small. Other factors discussed in the legislative history include whether there was fraudulent intent, harm to innocent third parties, and the possibility of unjust enrichment to the wrongdoer. The Sarbanes-Oxley Act of 2002 changed the ultimate disposition of penalties. Section 308 of Sarbanes-Oxley (the Fair Funds provision) allows the Commission to take penalties paid by individuals and entities in enforcement actions and add them to disgorgement funds for the benefit of victims. Penalty moneys no longer always go to the Treasury. Under Fair Funds, penalty moneys instead can be used to compensate the victims for the losses they experienced from the wrongdoing. If the victims are shareholders of the corporation being penalized, they will still bear the cost of issuer penalty payments (which is the case with any penalty against a corporate entity). When penalty moneys are ultimately returned to all or some of the investors who were victims of the violation, the amounts returned are less the administrative costs of the distribution. While the legislative history of the Fair Funds provision is scant, there are two general points that can be discerned. First, the purpose of the provision is to provide an additional source of compensation to victims of securities law violations. Second, the provision applies to all penalties and makes no distinction between penalties against individuals or entities. We have considered the legislative histories of both the Remedies Act and the Fair Funds provisions of the Sarbanes-Oxley Act in reaching the decisions we announce today. We proceed from the fundamental principle that corporate penalties are an essential part of an aggressive and comprehensive program to enforce the federal securities laws, and that the availability of a corporate penalty, as one of a range of remedies, contributes to the Commission's ability to achieve an appropriate level of deterrence through its decision in a particular case. With this principle in mind, our view of the appropriateness of a penalty on the corporation in a particular case, as distinct from the individuals who commit a securities law violation, turns principally on two considerations: The presence or absence of a direct benefit to the corporation as a result of the violation. The fact that a corporation itself has received a direct and material benefit from the offense, for example through reduced expenses or increased revenues, weighs in support of the imposition of a corporate penalty. If the corporation is in any other way unjustly enriched, this similarly weighs in support of the imposition of a corporate penalty. Within this parameter, the strongest case for the imposition of a corporate penalty is one in which the shareholders of the corporation have received an improper benefit as a result of the violation; the weakest case is one in which the current shareholders of the corporation are the principal victims of the securities law violation. The degree to which the penalty will recompense or further harm the injured shareholders. Because the protection of innocent investors is a principal objective of the securities laws, the imposition of a penalty on the corporation itself carries with it the risk that shareholders who are innocent of the violation will nonetheless bear the burden of the penalty. In some cases, however, the penalty itself may be used as a source of funds to recompense the injury suffered by victims of the securities law violations. The presence of an opportunity to use the penalty as a meaningful source of compensation to injured shareholders is a factor in support of its imposition. The likelihood a corporate penalty will unfairly injure investors, the corporation, or third parties weighs against its use as a sanction. In addition to these two principal considerations, there are several additional factors that are properly considered in determining whether to impose a penalty on the corporation. These are: The need to deter the particular type of offense. The likelihood that a corporate penalty will serve as a strong deterrent to others similarly situated weighs in favor of the imposition of a corporate penalty. Conversely, the prevalence of unique circumstances that render the particular offense unlikely to be repeated in other contexts is a factor weighing against the need for a penalty on the corporation rather than on the responsible individuals. The extent of the injury to innocent parties. The egregiousness of the harm done, the number of investors injured, and the extent of societal harm if the corporation's infliction of such injury on innocent parties goes unpunished, are significant determinants of the propriety of a corporate penalty. Whether complicity in the violation is widespread throughout the corporation. The more pervasive the participation in the offense by responsible persons within the corporation, the more appropriate is the use of a corporate penalty. Conversely, within this parameter, isolated conduct by only a few individuals would tend not to support the imposition of a corporate penalty. Whether the corporation has replaced those persons responsible for the violation will also be considered in weighing this factor. The level of intent on the part of the perpetrators. Within this parameter, the imposition of a corporate penalty is most appropriate in egregious circumstances, where the culpability and fraudulent intent of the perpetrators are manifest. A corporate penalty is less likely to be imposed if the violation is not the result of deliberate, intentionally fraudulent conduct. The degree of difficulty in detecting the particular type of offense. Because offenses that are particularly difficult to detect call for an especially high level of deterrence, this factor weighs in support of the imposition of a corporate penalty. Presence or lack of remedial steps by the corporation. Because the aim of the securities laws is to protect investors, the prevention of future harm, as well as the punishment of past offenses, is a high priority. The Commission's decisions in particular cases are intended to encourage the management of corporations accused of securities law violations to do everything within their power to take remedial steps, from the first moment that the violation is brought to their attention. Exemplary conduct by management in this respect weighs against the use of a corporate penalty; failure of management to take remedial steps is a factor supporting the imposition of a corporate penalty. Extent of cooperation with Commission and other law enforcement. Effective compliance with the securities laws depends upon vigilant supervision, monitoring, and reporting of violations. When securities law violations are discovered, it is incumbent upon management to report them to the Commission and to other appropriate law enforcement authorities. The degree to which a corporation has self reported an offense, or otherwise cooperated with the investigation and remediation of the offense, is a factor that the Commission will consider in determining the propriety of a corporate penalty. This framework for the consideration of the propriety of corporate penalties is grounded in the Commission's statutory authority and supported by the legislative history underlying that authority. It is the Commission's intent that the elucidation of these principles will provide a high degree of transparency to our decisions in these and future cases, and will be of assistance to the Commission's professional staff, to corporate issuers and their counsel, and to the public. (Press Rel. 2006-4) ENFORCEMENT PROCEEDINGS SEC INSTITUTES SETTLED CEASE-AND-DESIST PROCEEDINGS AGAINST APPLIX, INC. FOR VIOLATIONS OF THE ANTIFRAUD, INTERNAL CONTROLS, BOOKS AND RECORDS AND REPORTING PROVISIONS OF THE FEDERAL SECURITIES LAWS On January 4, the Commission issued an Order Instituting Cease-and- Desist Proceedings, Making Findings, and Imposing Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934 against Applix, Inc. The Order finds that Applix materially overstated net income in two periodic reports and a registration statement filed with the Commission. As a result, Applix improperly recognized $898,000 of software license revenue under a December 31, 2001 reseller agreement and understated its net loss for the fiscal year ended December 31, 2001 by 8.3%. In a second transaction, for the quarter ended June 30, 2002, Applix improperly recognized $341,000 in revenue, understating its net loss by 33.6%. Applix, while neither admitting nor denying the Order's findings, consented to the entry of the Order and certain remedial undertakings. The Commission found that Applix violated Section 17(a) of the Securities Act and Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 10b-5, 12b- 20, 13a-1, 13a-11, 13a-13 and 13b2-1 thereunder. (Rels. 33-8651; 34- 53049; AAE Rel. 2359; File No. 3-12138) IN THE MATTER OF ADVANCED MEDIA, INC. An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default (Default Order) in the matter of Advanced Media, Inc. The Order Instituting Proceedings alleged that Respondents American Film Technologies, Inc.; BPI Packaging Technologies, Inc.; CML Group, Inc.; Compositech, Ltd.; Dispatch Management Service Corp.; and eGlobe, Inc., failed to comply with Section 13(a) of the Securities Exchange Act of 1934 and Rules 13a-1 and 13a-13 thereunder by failing to file required periodic reports while their securities were registered with the Securities and Exchange Commission. The Default Order finds these allegations to be true and revokes the registrations of each class of registered securities of these Respondents. (Rel. 34-53047; File No. 3-12030) IN THE MATTER OF AIRCHARTER EXPRESS, INC., An Administrative Law Judge has issued an Order Making Findings and Revoking Registration by Default (Default Order) in the matter of AirCharter Express, Inc. The Order Instituting Proceedings alleged that Respondent AirCharter Express, Inc., failed to comply with Section 13(a) of the Securities Exchange Act of 1934 and Rules 13a-1 and 13a-13 thereunder by failing to file required periodic reports while its securities were registered with the Securities and Exchange Commission. The Default Order finds these allegations to be true and revokes the registration of each class of securities of AirCharter Express, Inc. (Rel. 34-53048; File No. 3-12061) SEC BRINGS INSIDER TRADING CHARGES RELATED TO APPLIED MATERIALS' ACQUISITION OF METRON TECHNOLOGIES The Commission today filed insider trading charges against a former securities trader who bought stock after learning confidential information about a planned corporate acquisition from his live-in girlfriend, an attorney at a major New York law firm who was working on the transaction. The Commission's complaint, filed in the U.S. District Court for the Southern District of New York, charges Lee Edelman, 34, of New York, New York, with insider trading in the stock of Silicon Valley firm Metron Technology shortly before the August 2004 announcement that it was being acquired by San Jose-based Applied Materials, Inc. According to the complaint, on or before July 1, 2004, Edelman learned about the acquisition negotiations while living with his girlfriend, an associate at a prominent New York law firm retained by Applied Materials. Edelman was present while the attorney, working in their apartment, reviewed deal documents and discussed the transaction on the phone. On July 1, 2004, Edelman secretly begin acquiring Metron shares. Several days later, Edelman's girlfriend directly told him that she was working on an acquisition of Metron, but cautioned him that he could not use the information for any purpose. Edelman agreed not to misuse the information. Unbeknownst to his girlfriend and despite their agreement, Edelman continued acquiring Metron shares. The complaint alleges that from July 1 through August 13, 2004, Edelman purchased 12,000 shares of Metron stock. On August 16, Applied Materials announced its plan to acquire Metron, and Metron's stock price more than doubled. The next day, Edelman sold all his shares for an illegal profit of nearly $23,000. The Commission action charges Edelman with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission seeks injunctive relief, civil monetary penalties, and disgorgement of ill-gotten gains. In a related action, the United States Attorney's Office for the Southern District of New York announced criminal insider trading charges against Edelman. The Commission acknowledges the assistance of the National Association of Securities Dealers. [SEC v. Lee David Edelman, Case No. 06 CV 0021 (LBS) (S.D.N.Y)] (LR-19518) COURT ENTERS FINAL JUDGMENT BY CONSENT AGAINST DEFENDANT ESTATE OF MARTIN FIFE The Commission announced that on Dec. 30, 2005, a Rhode Island federal court entered a final judgment by consent against the Estate of Martin D. Fife, a defendant in a fraud action filed by the Commission in April 2002. The Commission alleged in its complaint that Fife, who passed away in April 2004, and others participated in a fraudulent offering scheme that raised at least $52 million from investors. In the consent judgment, the Court ordered Fife's estate, which was substituted as a defendant subsequent to Fife's death, to pay over $900,000 in disgorgement and prejudgment interest. The Commission filed its action against Fife and eight other defendants and a relief defendant on April 1, 2002, alleging that Fife and others participated in a scheme that made fraudulent representations to investors about a purported high yield trading program that Fife operated through entities formerly known as Brite Business Corporation and Seaview Development & Holdings Ltd. The Commission alleged in its complaint that Fife was responsible for managing approximately $44.5 million of investor funds, over $17 million of which was not returned to investors. Among other things, the Commission's complaint alleged that Fife made misrepresentations to a Brite Business investor by falsely promising the investor that Fife's trading program had been successful and that the investor's funds were safe, when in fact Fife had recently lost a significant amount of investor funds as part of his trading program. Without admitting or denying the allegations in the Commission's complaint, the Estate of Fife consented to a final judgment entered by the Court. The final judgment ordered Fife's estate to pay disgorgement in the amount of $778,193, plus prejudgment interest in the amount of $153,200, for a total amount of $931,393. For further information, please see Litigation Release Numbers 17514 (May 13, 2002) [preliminary injunction and asset freeze against Fife and others]; and 17461 (April 5, 2002) [temporary restraining order and asset freeze against Fife and others]. [SEC v. Dennis S. Herula et al., USDC District of Rhode Island, C.A. No. 02-154-ML] (LR-19519) SEC SUES MCAFEE, INC. FOR ACCOUNTING FRAUD MCAFEE AGREES TO SETTLE AND PAY A $50 MILLION PENALTY The Commission today filed securities fraud charges against McAfee, Inc. (formerly known as Network Associates, Inc.), a Santa Clara, California-based manufacturer and supplier of computer security and antivirus tools. The Commission's complaint alleges that from the second quarter of 1998 through 2000, McAfee misled investors when it engaged in a fraudulent scheme to overstate its revenue and earnings by hundreds of millions of dollars in violation of the federal securities laws. The complaint specifically alleges that, during the period 1998 through 2000, McAfee inflated its cumulative net revenues by $622 million and that, for 1998 alone, McAfee overstated revenues by $562 million (a misstatement of 131 percent). McAfee has consented, without admitting or denying the allegations of the complaint, to the entry of a Court order enjoining it from violating the antifraud, books and records, internal controls, and periodic reporting provisions of the federal securities laws. The order also requires that McAfee pay a $50 million civil penalty, which the Commission will seek to distribute to harmed investors pursuant to the Fair Funds provision of the Sarbanes-Oxley Act of 2002. In addition, McAfee has agreed to appoint an Independent Consultant to examine and recommend improvements to McAfee's internal accounting controls and revenue recognition and reserves practices to better ensure compliance with the federal securities laws. This proposed settlement is subject to court approval. According to the complaint, McAfee defrauded investors into believing that it had legitimately met or exceeded its revenue projections and Wall Street earnings estimates during the 1998 through 2000 period. In reality, however, McAfee had used a variety of undisclosed ploys during the period to aggressively oversell its products to distributors in amounts that far exceeded the public's demand for the products. The Final Judgment would enjoin McAfee from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934, and Exchange Act Rules 10b-5, 12b-20, 13a-1, and 13a-13 thereunder. For further information see SEC v. Terry W. Davis, Litigation Release No. 18189 (June 12, 2003); SEC v. Prabhat K. Goyal, Litigation Release No. 18748 (June 16, 2004); SEC v. Evan S. Collins, Litigation Release No. 18986 (Nov. 30, 2004). [SEC v. McAfee, Inc., Civil Action No. 06-009 (PJH) N.D. Cal.] (LR-19520; AAE Rel. 2360; Press Rel. 2006-3) 202-551-4769 SEC CHARGES FORMER CEO, CFO AND CURRENT EXECUTIVE OF APPLIX, INC. WITH ACCOUNTING FRAUD The Commission announced that on January 4, it filed a civil action for fraud against two former officers and a current executive of Applix, Inc., a Westborough, Massachusetts Internet software company. In the suit, filed in federal court in the District of Massachusetts, the Commission alleged that the three defendants participated in two fraudulent revenue recognition schemes. The complaint names former CEO Alan C. Goldsworthy; former CFO Walter T. Hilger and Mark E. Sullivan, Applix's current Director of World- Wide Operations. According to the complaint, the three defendants engaged in two separate schemes to inflate revenue reported in Applix's publicly-filed financial statements and heralded in press releases. In the first scheme, Applix prematurely recognized $898,000 in revenue in its Form 10-K for the year ended Dec. 31, 2001. In the second scheme, the defendants allegedly caused Applix to report improperly $341,000 in revenue from a transaction with a German customer in its Form 10-Q for the quarter ended June 30, 2002 even though the customer had a six-month right to return the software product. In its complaint, the Commission requests that the court issue a final judgment permanently enjoining Goldsworthy, Hilger and Sullivan from violating or aiding and abetting violations of the antifraud, periodic reporting, record keeping and internal controls provisions of the federal securities laws. The Commission also seeks disgorgement of the bonuses Goldsworthy and Hilger received based on the fraudulent financial statements. In addition, the Commission's complaint asks the court to impose civil monetary penalties and an order permanently barring the defendants from acting as officers or directors of any public company. The complaint alleges that by their conduct, the defendants violated Section 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 (Exchange Act) and Exchange Act Rules 10b-5, 12b-20, 13a-1, 13a-11, 13a-13 and 13b2-1, and additionally as to Goldsworthy and Hilger, Rule 13b2-2, which prohibits officers of a company from lying to auditors. The complaint also alleges that Hilger and Sullivan violated Exchange Act Section 13(b)(5), which prohibits knowing falsification of books and records at a public company. [SEC v. Alan C. Goldsworthy, Walter T. Hilger, and Mark E. Sullivan, Civil Action No 06-CV-10012-MLW (D. Mass.)] (LR- 19521; AAE Rel. 2361) HOLDING COMPANY ACT RELEASES FIRSTENERGY CORP., ET AL. 70-9793 A supplemental order has been issued releasing jurisdiction over Jersey Central Power & Light Company (JCP&L), a public utility subsidiary of FirstEnergy Corp., a registered holding company, to participate in a service agreement with FirstEnergy Service Company, a service company subsidiary of FirstEnergy. (Rel. 35-28078) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE The Depository Trust Company filed a proposed rule change (SR-DTC- 2005-19) under Section 19(b)(3)(A) of the Securities Exchange Act. The proposed rule change, which became effective upon filing, will enhance DTC's current SMART/Track service by adding an internet-based service called "SMART/Track for Buy-Ins." The service will ultimately replace DTC's existing Participant Exchange buy-in service and will provide additional features to enable users to track buy-in notices throughout their lifecycle. Publication of the proposal is expected in the Federal Register during the week of January 2. (Rel. 34-53032) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-3 BIMINI MORTGAGE MANAGEMENT INC, 3305 FLAMINGO DRIVE, SUITE 100, VERO BEACH, FL, 32963, 7722311400 - 0 ($49,241,384.85) Equity, (File 333-130818 - Jan. 3) (BR. 08C) S-3ASR BANK OF AMERICA CORP /DE/, BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE, NC, 28255, 7043868486 - 0 ($0.00) Non-Convertible Debt, (File 333-130821 - Jan. 3) (BR. 07B) S-1 VARIABLE ANNUITY ACCOUNT B OF ING LIFE INS & ANNUITY CO, 151 FARMINGTON AVE, HARTFORD, CT, 06156, 860-723-4646 - 0 ($0.00) Other, (File 333-130823 - Jan. 3) (BR. 20) S-1 ING LIFE INSURANCE & ANNUITY CO, 151 FARMINGTON AVE, HARTFORD, CT, 06156, 860-723-4646 - 0 ($1.00) Other, (File 333-130827 - Jan. 3) (BR. 20) S-8 State National Bancshares, Inc., 4500 MERCANTILE PLAZA DRIVE, SUITE 300, FORT WORTH, TX, 76137, 817-547-1150 - 0 ($31,119,000.00) Debt, (File 333-130828 - Jan. 3) (BR. 07) S-3ASR SPIRIT FINANCE CORP, 14631 N. SCOTTSDALE ROAD, SUITE 200, SCOTTSDALE, AZ, 85254, 4806060820 - 0 ($0.00) Other, (File 333-130829 - Jan. 3) (BR. 08C) S-3 AMERICAN CAMPUS COMMUNITIES INC, 0 ($3,028,630.00) Equity, (File 333-130830 - Jan. 3) (BR. 08A) S-8 CONSUMER DIRECT OF AMERICA, 20 CORPORATE PARK, SUITE 285, IRVINE, CA, 92606, 949-260-1801 - 10,000,000 ($800,000.00) Equity, (File 333-130831 - Jan. 3) (BR. 07A) S-8 CAL MAINE FOODS INC, 3320 WOODROW WILSON DRIVE, JACKSON, MS, 39207, 6019486813 - 1,500,000 ($9,765,000.00) Equity, (File 333-130832 - Jan. 3) (BR. 04C) S-1 ING LIFE INSURANCE & ANNUITY CO, 151 FARMINGTON AVE, HARTFORD, CT, 06156, 860-723-4646 - 0 ($1.00) Other, (File 333-130833 - Jan. 3) (BR. 20) S-3 LTC PROPERTIES INC, 31365 OAK CREST DRIVE, SUITE 200, WESTLAKE VILLIAGE, CA, 91361, 805-981-8655 - 0 ($10,762,500.00) Equity, (File 333-130834 - Jan. 3) (BR. 08B) S-8 I2 TELECOM INTERNATIONAL INC, 3102 MAPLE AVE, STE 230, DALLAS, TX, 75201, 2149697200 - 10,000,000 ($630,000.00) Equity, (File 333-130835 - Jan. 3) (BR. 11A) SB-2 NOVA COMMUNICATIONS LTD, 1005 TERMINAL WAY, SUITE 110, RENO, NV, 89502, 7753248531 - 39,815,789 ($8,649,999.90) Equity, (File 333-130836 - Jan. 3) (BR. 08B) S-3 KNOLL INC, 1235 WATER ST, EAST GREENVILLE, PA, 18041, 2156797991 - 0 ($256,200,000.00) Equity, (File 333-130838 - Jan. 3) (BR. 06A) S-4 Neff Rental LLC, 3750 N.W. 87TH AVENUE, SUITE 400, MIAMI, FL, 33178, 3055133350 - 0 ($325,000,000.00) Other, (File 333-130841 - Jan. 3) (BR. ) S-4 SYNOVUS FINANCIAL CORP, 1111 BAY AVENUE, STE 500 PO BOX 120, COLUMBUS, GA, 31901, 7066494818 - 6,485,197 ($164,782,842.00) Equity, (File 333-130842 - Jan. 3) (BR. 07B) S-1 SUMMUS INC, 434 FAYETTEVILLE STREET, TWO HANOVER SQUARE SUITE 2120, RALEIGH, NC, 27601, 9198075623 - 34,286,440 ($30,101,568.00) Equity, (File 333-130843 - Jan. 3) (BR. 08C) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant's Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics 6.01. ABS Informational and Computational Material. 6.02. Change of Servicer or Trustee. 6.03. Change in Credit Enhancement or Other External Support. 6.04. Failure to Make a Required Distribution. 6.05. Securities Act Updating Disclosure. 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE DATE COMMENT ------------------------------------------------------------------------------------------------------- 1ST CENTENNIAL BANCORP CA 5.02,9.01 01/01/06 ABFC C-BASS Mortgage Loan Asset-Backe DE 8.01,9.01 12/25/05 ACCESS WORLDWIDE COMMUNICATIONS INC DE 1.01,1.02,5.02,9.01 01/03/06 Accredited Mortgage Loan Trust 2005-3 DE 8.01,9.01 12/27/05 Adams Respiratory Therapeutics, Inc. TX 8.01,9.01 01/02/03 ADVANCED TECHNOLOGY INDUSTRIES INC DE 1.01,2.03,3.02,9.01 11/28/05 ADVENT SOFTWARE INC /DE/ DE 8.01 12/02/05 AFFIRMATIVE INSURANCE HOLDINGS INC DE 1.01,9.01 12/27/05 AGL RESOURCES INC GA 1.01,9.01 01/01/06 AKORN INC LA 1.01,9.01 12/27/05 ALBANY INTERNATIONAL CORP /DE/ DE 5.02,9.01 12/30/05 ALLIANCE RESOURCE PARTNERS LP DE 8.01,9.01 12/28/05 ALLOS THERAPEUTICS INC DE 8.01,9.01 01/03/06 Alternative Loan Trust 2005-47CB 8.01,9.01 08/30/05 Alternative Loan Trust 2005-77T1 9.01 12/28/05 Alternative Loan Trust 2005-80CB 9.01 12/28/05 Alternative Loan Trust 2005-83CB 9.01 12/30/05 AMB FINANCIAL CORP DE 5.02,9.01 12/30/05 AMERICA SERVICE GROUP INC /DE DE 1.01,9.01 12/30/05 American Pallet Leasing, Inc. DE 1.01,8.01,9.01 01/03/06 AMERICAN RIVER BANKSHARES CA 1.01,9.01 01/03/06 AMERIQUEST MORTGAGE SECURITIES INC., DE 9.01 12/14/05 AMN HEALTHCARE SERVICES INC DE 1.01 12/29/05 APHTON CORP DE 3.01,9.01 12/27/05 APPLEBEES INTERNATIONAL INC DE 7.01 01/03/06 APPLIED DIGITAL SOLUTIONS INC MO 1.01,9.01 12/27/05 APPLIED FILMS CORP CO 2.01,9.01 12/27/05 APPLIED MICRO CIRCUITS CORP DE 5.02 12/27/05 ARCH COAL INC DE 8.01,9.01 01/03/06 ARMSTRONG HOLDINGS INC /PA/ PA 8.01,9.01 01/03/06 ARROW ELECTRONICS INC NY 8.01,9.01 12/30/05 ASCENDANT SOLUTIONS INC DE 8.01,9.01 01/03/06 ASHLAND INC. KY 8.01 12/29/05 Asset Backed Pass-Through Certificate DE 8.01,9.01 12/25/05 Asset Backed Pass-Through Certificate DE 8.01,9.01 12/25/05 Asset Backed Pass-Through Certificate DE 8.01,9.01 12/25/05 Asset Backed Pass-Through Certificate DE 8.01,9.01 12/25/05 ASSET-BACKED CERTIFICATES, SERIES 200 DE 8.01,9.01 12/27/05 ASSURANCEAMERICA CORP NV 2.02,9.01 12/30/05 ATA HOLDINGS CORP IN 1.01,2.03,9.01 12/27/05 ATA HOLDINGS CORP IN 8.01,9.01 01/03/06 AZTAR CORP DE 1.01,9.01 12/29/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Alternative Loan Trus DE 8.01,9.01 12/27/05 Banc of America Funding 2005-3 Trust DE 8.01,9.01 12/27/05 Banc of America Funding Corp. 2005-1 DE 8.01,9.01 12/27/05 Banc of America Funding Corp. 2005-2 DE 8.01,9.01 12/27/05 Banc of America Funding Corp. 2005-5 DE 8.01,9.01 12/27/05 Banc of America Funding Corp. 2005-7 DE 8.01,9.01 12/27/05 Banc of America Mortgage Securities M DE 8.01,9.01 12/27/05 Banc of America Mortgage Securities, DE 8.01,9.01 12/27/05 BANCORP RHODE ISLAND INC 1.01,9.01 12/29/05 BANK OF AMERICA CORP /DE/ DE 5.02,8.01,9.01 01/01/06 BANK OF THE OZARKS INC AR 1.01,9.01 01/03/06 Bayview Financial Mortgage Pass-Throu DE 8.01,9.01 12/28/05 BAYWOOD INTERNATIONAL INC NV 3.02,5.03,9.01 01/02/06 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 Bear Stearns Asset Backed Securities DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 12/27/05 Bear Stearns Asset Backed Securities DE 8.01,9.01 12/27/05 BEVERLY ENTERPRISES INC DE 1.01,1.02,9.01 12/23/05 AMEND BIDGIVE INTERNATIONAL INC DE 4.01,9.01 01/03/06 BIMINI MORTGAGE MANAGEMENT INC MD 8.01 01/03/06 BIO SOLUTIONS MANUFACTURING, INC. NY 4.02 09/01/05 AMEND BIODELIVERY SCIENCES INTERNATIONAL IN DE 1.01,9.01 12/28/05 BOSTON CAPITAL REAL ESTATE INVESTMENT MD 1.01,9.01 01/03/06 BRANDPARTNERS GROUP INC DE 5.02 12/29/05 BRIDGFORD FOODS CORP CA 5.02,9.01 01/01/06 BRUSH ENGINEERED MATERIALS INC 1.01,9.01 12/29/05 C-BASS MORTGAGE LOAN ASSET-BACKED CER DE 8.01,9.01 12/27/05 CANO PETROLEUM, INC 1.01,9.01 12/27/05 CAPITAL BANK CORP NC 1.01,2.02,9.01 12/27/05 CELGENE CORP /DE/ DE 5.02 01/03/06 CENTER BANCORP INC NJ 5.02,9.01 01/01/06 CENTURY PROPERTIES GROWTH FUND XXII CA 1.01,2.03 12/27/05 CH ENERGY GROUP INC NY 8.01 12/31/05 CHECKFREE CORP \GA\ DE 7.01,8.01,9.01 01/01/06 CHEESECAKE FACTORY INCORPORATED DE 8.01,9.01 01/03/06 CHILDRENS INTERNET INC NV 8.01 01/03/06 CHINA BAK BATTERY INC NV 2.02,9.01 01/02/06 CHINA DIGITAL MEDIA CORP NV 5.02 12/28/05 CHINA MARKETING MEDIA, INC. NV 4.01,9.01 01/03/06 Citigroup Mortgage Loan Trust Inc., S 9.01 12/27/05 CITIZENS SOUTH BANKING CORP DE 1.01,9.01 12/27/05 CIVITAS BANKGROUP INC TN 2.03,7.01,8.01,9.01 12/28/05 CLEVELAND CLIFFS INC OH 8.01 12/30/05 CLOVER COMMUNITY BANKSHARES INC SC 2.01,9.01 12/31/05 COCA COLA ENTERPRISES INC DE 8.01 12/30/05 CODORUS VALLEY BANCORP INC PA 1.01,9.01 01/03/06 COLLEGIATE PACIFIC INC DE 1.01,5.02 01/03/06 COMMERCIAL CAPITAL BANCORP INC NV 8.01,9.01 01/03/06 COMPASS BANCSHARES INC DE 2.02,4.02,9.01 12/30/05 COMPUDYNE CORP NV 1.01,9.01 12/27/05 COMPUSONICS VIDEO CORP CO 8.01 12/31/05 COMPUTER SOFTWARE INNOVATIONS INC DE 1.01,9.01 12/28/05 CONSORTIUM SERVICE MANAGEMENT GROUP I TX 5.02 12/30/05 Copano Energy, L.L.C. DE 3.02,9.01 12/29/05 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE 8.01,9.01 01/03/06 CSFB Adjustable Rate Mortgage Trust 2 DE 8.01,9.01 12/27/05 CSFB Home Equity Pass-Through Certifi DE 8.01,9.01 12/25/05 CSFB HOME EQUITY PASS-THROUGH CERTIFI DE 8.01,9.01 12/27/05 DEFENSE TECHNOLOGY SYSTEMS, INC. DE 2.01,9.01 04/13/05 AMEND DEUTSCHE ALT-A SECURITIES INC 2.01,8.01,9.01 12/22/05 DIALOG GROUP INC UT 1.01,2.01,5.01,9.01 12/30/05 Diamond Foods Inc DE 7.01,9.01 01/03/06 DICKIE WALKER MARINE INC 5.02 01/01/06 DIGITAL NETWORK ALLIANCE INTERNATIONA DE 4.01,9.01 01/03/06 DIGITAS INC DE 1.01,3.02,9.01 01/03/06 DISCOVERY LABORATORIES INC /DE/ DE 1.01,1.02,9.01 12/27/05 DIVERSIFIED FUTURES FUND L.P. DE 1.01,8.01,9.01 01/03/06 DIVERSIFIED FUTURES TRUST I DE 1.01,8.01,9.01 01/03/06 DOCUMENT SCIENCES CORP DE 5.02 12/30/05 DOR BIOPHARMA INC DE 1.01,9.01 12/29/05 DSL NET INC DE 3.01,9.01 12/30/05 DST SYSTEMS INC DE 7.01,9.01 01/03/06 E-GOLD GROUP, INC. DE 4.01,9.01 01/03/06 Education Realty Trust, Inc. MD 1.01,9.01 12/28/05 EFC BANCORP INC DE 5.04,9.01 01/03/06 Encore Credit Receivables Trust 2005- DE 9.01 12/27/05 Encore Credit Receivables Trust 2005- DE 9.01 12/27/05 ENDEAVOUR INTERNATIONAL CORP NV 5.02,9.01 01/03/06 ENTERGY NEW ORLEANS INC LA 7.01,9.01 12/30/05 ENVIRONMENTAL SOLUTIONS WORLDWIDE INC FL 5.03 01/03/06 EXECUTE SPORTS INC NV 1.01,9.01 01/03/06 EXPEDITORS INTERNATIONAL OF WASHINGTO WA 7.01 01/03/06 FARMER MAC MORTGAGE SECURITIES CORP DE 8.01,9.01 12/29/05 Federal Home Loan Bank of New York X1 2.03,9.01 12/28/05 Federal Home Loan Bank of San Francis X1 2.03 01/03/06 FEMALE HEALTH CO WI 2.02,9.01 12/29/05 FINANCIAL TELECOM LTD USA INC 2.01,9.01 12/30/05 FINISAR CORP DE 1.01,9.01 12/28/05 First Franklin Mortgage Loan Trust 20 DE 8.01,9.01 12/25/05 FIRST INDIANA CORP IN 8.01,9.01 01/03/06 FIRST NIAGARA FINANCIAL GROUP INC DE 5.03,9.01 01/02/06 FNB FINANCIAL SERVICES CORP NC 8.01,9.01 01/03/06 FORTUNE PHARMACEUTICAL, INC. DE 4.01,9.01 01/03/06 FOX & HOUND RESTAURANT GROUP DE 1.01,8.01,9.01 12/30/05 FUTURES STRATEGIC TRUST DE 1.01,8.01,9.01 01/03/06 GELSTAT CORP MN 1.01 12/30/05 GENEMAX CORP NV 8.01 12/23/05 GENTA INC DE/ DE 8.01 12/29/05 GLOBAL EPOINT INC NV 5.03,9.01 12/27/05 GLYCOGENESYS INC NV 1.01 12/16/05 GOLDEN EAGLE INTERNATIONAL INC CO 1.01,8.01,9.01 01/03/06 Grande Communications Holdings, Inc. DE 5.03,8.01,9.01 12/28/05 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 12/30/05 GRAPHIC PACKAGING CORP DE 2.05 12/30/05 GREAT CHINA INTERNATIONAL HOLDINGS, I NV 1.01,2.03 12/28/05 GREATER ATLANTIC FINANCIAL CORP DE 2.02,9.01 12/30/05 GTC BIOTHERAPEUTICS INC MA 1.01 12/29/05 GUNDLE SLT ENVIRONMENTAL INC DE 1.01,2.03,9.01 01/03/06 HALLADOR PETROLEUM CO CO 1.01,9.01 12/31/05 Hana Biosciences Inc DE 1.01 12/28/05 HARDINGE INC NY 1.01,9.01 12/27/05 HARTFORD LIFE INSURANCE CO CT 9.01 01/03/06 HEALTH DISCOVERY CORP TX 1.01,8.01,9.01 01/03/06 HEALTHEXTRAS INC DE 7.01,9.01 01/03/06 HEARUSA INC DE 1.01,2.03 12/28/05 HEMAGEN DIAGNOSTICS INC DE 2.02,9.01 01/03/06 HEMISPHERX BIOPHARMA INC DE 8.01 01/03/06 HEXCEL CORP /DE/ DE 5.02,8.01,9.01 12/27/05 HICKORY TECH CORP MN 8.01,9.01 12/30/05 HIENERGY TECHNOLOGIES INC DE 1.01,3.02,3.03,9.01 12/23/05 Home Equity Asset Trust 2005-3 DE 8.01,9.01 12/27/05 Home Equity Asset Trust 2005-4 DE 8.01,9.01 12/25/05 Home Equity Asset Trust 2005-5 DE 8.01,9.01 12/25/05 Home Equity Asset Trust 2005-7 DE 8.01,9.01 12/25/05 Home Equity Loan Trust 2005-HS1 DE 8.01,9.01 12/30/05 Home Equity Loan Trust 2005-HS2 DE 8.01,9.01 12/30/05 Home Loan Trust 2005-HI2 DE 8.01,9.01 12/30/05 Home Loan Trust 2005-HI3 DE 8.01,9.01 12/30/05 HORIZON HEALTH CORP /DE/ DE 2.01,9.01 12/30/05 HOST AMERICA CORP DE 8.01 12/28/05 ILX RESORTS INC AZ 1.01 01/01/06 IMMUNE RESPONSE CORP DE 3.02 12/27/05 ING LIFE INSURANCE & ANNUITY CO CT 8.01 01/03/06 Inland American Real Estate Trust, In MD 2.01,9.01 12/02/05 AMEND INSITUFORM TECHNOLOGIES INC DE 5.02,9.01 12/28/05 INTERACTIVE SYSTEMS WORLDWIDE INC /DE DE 5.02,5.03,9.01 12/28/05 INTERNATIONAL LOTTERY & TOTALIZATOR S CA 5.02 01/03/06 INTERVOICE INC TX 2.01,9.01 12/30/05 Irwin Whole Loan Home Equity Trust 20 DE 8.01,9.01 12/27/05 ITEX CORP NV 7.01,9.01 01/02/06 ITRON INC /WA/ WA 5.02 12/31/05 IVAX CORP FL 1.01,8.01,9.01 12/30/05 J P MORGAN CHASE & CO DE 5.02 12/31/05 J.P. Morgan Alternative Loan Trust 20 DE 8.01,9.01 12/27/05 KENMAR GLOBAL TRUST DE 1.01,8.01,9.01 01/03/06 KINDRED HEALTHCARE, INC DE 5.02,7.01,9.01 01/01/06 KLEENAIR SYSTEMS INC NV 1.01 12/22/05 Lehman ABS Corp. Home Equity Loan Tru DE 8.01,9.01 12/27/05 LEHMAN SARM 2005-11 DE 8.01,9.01 12/27/05 LEHMAN SARM 2005-5 DE 8.01,9.01 12/27/05 Lehman XS Trust Series 2005-2 DE 8.01,9.01 12/27/05 Lehman XS Trust, Series 2005-4 DE 8.01,9.01 12/27/05 LEXAR MEDIA INC CA 1.01 12/30/05 LIBERTY STAR GOLD CORP NV 7.01,9.01 12/29/05 Linkwell CORP FL 1.01,3.02 12/28/05 LITFUNDING CORP NV 1.01,8.01,9.01 12/21/05 LONE STAR TECHNOLOGIES INC DE 1.01,9.01 12/30/05 LOTUS CAPITAL CORP NV 4.01,9.01 01/03/06 LOTUS CAPITAL CORP NV 4.01,9.01 01/03/06 LOWRANCE ELECTRONICS INC DE 5.02,9.01 12/28/05 MAINSOURCE FINANCIAL GROUP IN 1.01 12/27/05 MASTERCARD INC DE 5.02 12/31/05 MASTR ALTERNATIVE LOAN TRUST 2005-NC1 DE 8.01,9.01 12/27/05 MD TECHNOLOGIES INC 1.01,9.01 12/28/05 MECHANICAL TECHNOLOGY INC NY 1.01 12/30/05 MEDIANET GROUP TECHNOLOGIES INC NV 4.01,9.01 01/02/06 MEDICINES CO /DE DE 1.01 01/03/06 AMEND MEDICIS PHARMACEUTICAL CORP DE 1.01,9.01 12/30/05 MERCURY INTERACTIVE CORP DE 3.01,9.01 01/03/06 MERIX CORP OR 2.02,9.01 01/03/06 Merrill Auto Trust Securitization 200 DE 8.01,9.01 12/27/05 MERRILL LYNCH MORTGAGE INVESTORS TRUS DE 8.01,9.01 12/27/05 Merrill Lynch Mortgage Trust 2005-MCP DE 1.01,9.01 06/29/05 AMEND MIDDLESEX WATER CO NJ 8.01 01/03/06 MIDDLESEX WATER CO NJ 1.01,5.02 01/03/06 MINGHUA GROUP INTERNATIONAL HOLDINGS NY 1.01,9.01 12/28/05 MIRANT CORP DE 1.01,3.02,5.01,5.02, 01/03/06 5.03,8.01,9.01 MIVA, INC. DE 1.01 12/27/05 MOBILEPRO CORP DE 5.02,9.01 01/01/06 MOCON INC MN 1.01 12/28/05 MOD PAC CORP NY 8.01 01/03/06 Mortgage Asset-Backed Pass-Through Ce DE 8.01,9.01 12/28/05 Mortgage Asset-Backed Pass-Through Ce DE 8.01,9.01 12/28/05 MORTGAGE PASS-THROUGH CERTIFICATES, S DE 8.01,9.01 12/25/05 MORTGAGE-BACKED CERTIFICATES, SERIES DE 8.01,9.01 12/27/05 MTR GAMING GROUP INC DE 2.03,8.01,9.01 12/27/05 MultiCell Technologies, Inc. DE 1.01,8.01,9.01 01/03/06 NAAC Alternative Loan Trust, Series 2 DE 8.01,9.01 12/27/05 NELX INC KS 3.02,5.03,8.01,9.01 01/03/06 NEOSE TECHNOLOGIES INC DE 8.01,9.01 01/03/06 NEW HARVEST CAPITAL CORP DE 5.02 12/30/05 NEW YORK COMMUNITY BANCORP INC DE 8.01,9.01 12/30/05 NEWALLIANCE BANCSHARES INC 8.01,9.01 01/03/06 NEWS CORP 8.01,9.01 01/03/06 OCEAN WEST HOLDING CORP DE 1.01,2.01,9.01 12/30/05 OHIO CASUALTY CORP OH 1.01,9.01 12/28/05 PAINCARE HOLDINGS INC CT 3.02,7.01,9.01 12/30/05 PANTRY INC DE 1.01,2.03,9.01 12/29/05 PAR TECHNOLOGY CORP DE 1.01 12/28/05 PAYMENT DATA SYSTEMS INC NV 1.01,9.01 12/27/05 PENN VIRGINIA CORP VA 5.02,9.01 01/03/06 PENN VIRGINIA RESOURCE PARTNERS L P DE 5.02,9.01 01/03/06 PEOPLES BANCORP INC OH 1.01 01/03/06 PEP BOYS MANNY MOE & JACK PA 7.01,9.01 01/03/06 PHI INC LA 5.03,9.01 12/30/05 PHOTOMEDEX INC DE 1.01,8.01 12/28/05 PINNACLE ENTERTAINMENT INC DE 2.03,8.01 12/27/05 PLURISTEM LIFE SYSTEMS INC NV 7.01 09/21/05 POINT 360 CA 1.01,2.03 12/31/05 POPE & TALBOT INC /DE/ DE 1.01,9.01 12/28/05 PPL CORP PA 1.01 01/03/06 PREMIER COMMUNITY BANKSHARES INC VA 1.01 12/29/05 PREMIER DEVELOPMENT & INVESTMENT INC NV 3.02 12/29/05 PREMIERWEST BANCORP OR 1.01 01/03/06 PRIME GROUP REALTY TRUST MD 8.01 01/03/05 QUANTITATIVE METHODS CORP NV 4.01,5.03 12/30/05 RAAC Series 2005-SP1 Trust DE 8.01,9.01 01/02/06 RALI Series 2005-Q03 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-Q56 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA1 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA10 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA11 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA12 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA2 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA3 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA4 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA5 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA6 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA7 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA8 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QA9 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QO1 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QO2 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QO4 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QR1 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS1 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS10 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS11 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS12 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS13 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS14 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS15 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS16 Trust DE 8.01,9.01 12/28/05 Rali Series 2005-QS2 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS3 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS4 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS5 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS7 Trust DE 8.01,9.01 12/28/05 RALI Series 2005-QS8 Trust DE 8.01,9.01 12/28/05 RAMP Series 2005 SL2 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC1 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC2 DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC3 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC4 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC5 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-EFC6 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS1 Trust 8.01,9.01 01/02/06 RAMP Series 2005-RS2 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS3 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS4 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS5 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS6 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS7 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS8 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RS9 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RZ1 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RZ2 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RZ3 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-RZ4 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-SL1 Trust DE 8.01,9.01 01/02/06 RAMP Series 2005-SP2 Trust DE 8.01,9.01 01/02/06 Rand Acquisition CORP DE 1.01,9.01 12/29/05 RASC Series 2005 EMX4 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-AHL1 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-AHL2 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-AHL3 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-EMX1 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-EMX2 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-EMX3 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS1 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS10 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS11 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS2 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS3 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS4 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS5 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS6 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS7 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS8 Trust DE 8.01,9.01 12/29/05 RASC Series 2005-KS9 Trust DE 8.01,9.01 12/29/05 REGEN BIOLOGICS INC DE 7.01,8.01,9.01 01/03/05 Remote Dynamics Inc DE 5.02,9.01 12/27/05 RES CARE INC /KY/ KY 8.01,9.01 01/03/06 RFMSI Series 2005-S1 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S2 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S3 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S4 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S5 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S6 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S7 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-S8 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-SA1 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-SA2 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-SA3 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-SA4 Trust DE 8.01,9.01 12/30/05 RFMSI Series 2005-SA5 Trust DE 8.01,9.01 12/30/05 RFMSII 2005-HI1 DE 8.01,9.01 12/30/05 RICA FOODS INC NV 3.01,9.01 12/27/05 ROCK OF AGES CORP DE 1.01,8.01,9.01 01/03/06 RSA SECURITY INC/DE/ DE 2.01,9.01 12/30/05 SACO I TRUST 2005-8 DE 8.01,9.01 12/27/05 SACO I TRUST 2005-GP1 DE 8.01,9.01 12/27/05 SACO I TRUST, 2005-WM3 DE 8.01,9.01 12/27/05 SAFEGUARD SCIENTIFICS INC PA 1.01,1.02 12/27/05 SASCO Mortgage Loan Trust Series 2005 DE 8.01,9.01 12/25/05 SASCO Mortgage Loan Trust Series 2005 DE 8.01,9.01 12/25/05 SASCO Mortgage Pass-Through Certifida DE 8.01,9.01 12/27/05 SATCON TECHNOLOGY CORP DE 4.01 12/28/05 SCIENTIFIC ATLANTA INC GA 8.01,9.01 01/03/06 SCM MICROSYSTEMS INC DE 5.02 12/27/05 Securitized Asset Backed Receivables 8.01,9.01 12/27/05 SHERIDAN GROUP INC DE 2.05 12/15/05 Shire plc 8.01,9.01 01/03/06 SIMMONS BEDDING CO DE 1.01,9.01 12/29/05 SIMTEK CORP CO 1.01,1.02,2.01,3.02,8.01,9.01 12/30/05 SONEX RESEARCH INC MD 8.01 01/03/06 SOUNDVIEW HOME LOAN TRUST 2005-4, ASS DE 9.01 12/05/05 Specialty Underwriting & Residential DE 2.01,9.01 01/03/06 SPECTRUM CONTROL INC PA 2.01,9.01 01/03/06 ST JOSEPH INC CO 8.01 01/03/06 STANDARD MOTOR PRODUCTS INC NY 1.01,1.02,9.01 12/29/05 STANDEX INTERNATIONAL CORP/DE/ DE 1.01,2.03 12/23/05 STERLING CONSTRUCTION CO INC DE 1.02,9.01 12/30/05 STERLING CONSTRUCTION CO INC DE 8.01,9.01 01/03/06 STRATS SM TRUST FOR DAIMLERCHRYSLER N 8.01 12/07/05 STRATS SM TRUST FOR IBM CORP SEC SERI 8.01 01/03/06 STRUCTURED ADJUSTABLE RATE MORTGAGE DE 8.01,9.01 12/27/05 Structured Adjustable Rate Mortgage L DE 8.01,9.01 12/27/05 Structured Adjustable Rate Mortgage L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 Structured Adjustable Rate Mortgage L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 STRUCTURED ADJUSTABLE RATE MORTGAGE L DE 8.01,9.01 12/27/05 Structured Asset Investment Loan Trus DE 8.01,9.01 12/27/05 Structured Asset Investment Loan Trus DE 8.01,9.01 12/27/05 Structured Asset Investment Loan Trus DE 8.01,9.01 12/27/05 Structured Asset Investment Loan Trus DE 8.01,9.01 12/27/05 Structured Asset Securities Corp 2005 DE 8.01,9.01 12/27/05 tructured Asset Securities Corp 2005 DE 8.01,9.01 12/27/05 Structured Asset Securities Corp Trus DE 8.01,9.01 12/27/05 Structured Asset Securities Corp Trus DE 8.01,9.01 12/27/05 Structured Asset Securities Corporati DE 8.01,9.01 12/25/05 SUMMUS INC DE 1.01,5.02 01/02/06 SUPERTEL HOSPITALITY INC VA 8.01,9.01 12/27/05 SYNERGETICS USA INC DE 8.01 12/30/05 SYNTAX-BRILLIAN CORP DE 1.01,3.02,5.03,9.01 12/28/05 SYSTEMAX INC DE 7.01 12/29/05 TABATHA II INC CO 4.01,9.01 01/03/06 TD BANKNORTH INC. DE 8.01,9.01 01/03/06 TELEPHONE & DATA SYSTEMS INC /DE/ DE 5.02 12/31/05 THESTREET COM DE 1.01 12/27/05 TII NETWORK TECHNOLOGIES, INC. DE 5.03 12/21/05 AMEND Timberline Resources Corp 5.02,8.01,9.01 12/30/05 TITAN PHARMACEUTICALS INC DE 3.02 12/28/05 TOR MINERALS INTERNATIONAL INC DE 2.02,9.01 12/28/05 TORO CO DE 1.01,9.01 12/31/05 TOWER AUTOMOTIVE INC DE 7.01,9.01 12/23/05 TRINITY CAPITAL CORP 1.01 01/01/06 TRIPATH TECHNOLOGY INC 8.01,9.01 12/30/05 ULTIMATE SOFTWARE GROUP INC DE 1.01,9.01 12/28/05 UNIVERSAL COMPRESSION HOLDINGS INC DE 5.03,9.01 12/28/05 VALLEY NATIONAL GASES INC WV 1.01 01/03/06 VARIAN SEMICONDUCTOR EQUIPMENT ASSOCI DE 1.01,1.02,9.01 12/27/05 VECTOR GROUP LTD DE 5.02,5.03,9.01 01/01/06 VESTA INSURANCE GROUP INC DE 3.01,9.01 12/27/05 VIEWPOINT CORP DE 1.01,3.02,9.01 12/29/05 VIRGINIA COMMERCE BANCORP INC 8.01 01/03/06 WACHOVIA CORP NEW NC 1.01,9.01 12/28/05 WALT DISNEY CO/ DE 2.02,8.01 12/30/05 WALTER INDUSTRIES INC /NEW/ DE 8.01 01/03/06 Watson Wyatt Worldwide, Inc. DE 5.03,8.01,9.01 01/01/06 WEST BANCORPORATION INC IA 8.01,9.01 12/30/05 WESTWOOD ONE INC /DE/ DE 5.02,9.01 01/03/06 WHEELING ISLAND GAMING INC DE 8.01 12/29/05 Whos Your Daddy Inc NV 8.01 12/27/05 Whos Your Daddy Inc NV 5.02 08/19/05 AMEND WINN DIXIE STORES INC FL 7.01,9.01 01/03/06 WJ COMMUNICATIONS INC DE 1.01,2.03,9.01 12/27/05 WORLD MONITOR TRUST II SERIES D DE 1.01,8.01,9.01 01/03/06 WORLD MONITOR TRUST II SERIES E DE 1.01,8.01,9.01 01/03/06 WORLD MONITOR TRUST II SERIES F DE 1.01,8.01,9.01 01/03/06 World Monitor Trust III DE 1.01,8.01,9.01 01/03/06 World Monitor Trust III - Series G DE 1.01,8.01,9.01 01/03/06 World Monitor Trust III - Series H DE 1.01,8.01,9.01 01/03/06 World Monitor Trust III - Series I DE 1.01,8.01,9.01 01/03/06 World Monitor Trust III - Series J DE 1.01,8.01,9.01 01/03/06 WORLD MONITOR TRUST SERIES A DE 1.01,8.01,9.01 01/03/06 WORLD MONITOR TRUST SERIES B DE 1.01,8.01,9.01 01/03/06 WORLD WASTE TECHNOLOGIES INC CA 1.01,3.02,9.01 12/27/05 WORLDSPAN L P DE 1.02 12/31/05 WORLDWIDE MANUFACTURING USA INC CO 4.01,9.01 01/03/06 YRC WORLDWIDE INC DE 5.03,9.01 12/30/05