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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who 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 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option-Right to Buy | $ 0.9437 | 06/24/2009 | A | 50,000 | 06/24/2010(1) | 06/24/2019 | Common Stock | 50,000 | $ 0.9437 | 296,317 | I | See Footnote (2) (3) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Prides Capital Partners, LLC 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X | ||
Richardson Kevin A II 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X | ||
Indick Murray A 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X | ||
Lawlor Henry J Jr 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X | ||
McCarthy Charles E 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X | ||
Cootey Stephen Lawrence 200 HIGH STREET SUITE 700 BOSTON, MA 02110 |
X | X |
Prides Capital Partners, LLC | 06/26/2009 | |
**Signature of Reporting Person | Date | |
Kevin A. Richardson, II | 06/26/2009 | |
**Signature of Reporting Person | Date | |
Murray A. Indick | 06/26/2009 | |
**Signature of Reporting Person | Date | |
Henry J. Lawlor, Jr | 06/26/2009 | |
**Signature of Reporting Person | Date | |
Charles E. McCarthy | 06/26/2009 | |
**Signature of Reporting Person | Date | |
Stephen L. Cootey | 06/26/2009 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | 33% vested on June 24, 2010, 33% will vest on June 24, 2011; 33% will vest on June 24, 2012. |
(2) | The options reported herein as indirectly beneficially owned by Prides Capital Partners, L.L.C. are owned directly by Kevin A. Richardson II, and Stephen L. Cootey. Mr. Richardson and Mr. Cootey are deemed to hold the options for the benefit of Prides Capital Fund I, L.P. and may exercise the options solely upon the direction of Prides Capital Fund I, L.P., which is entitled to the shares issued upon exercise. Because Prides Capital Partners, L.L.C. is the general partner of Prides Capital Fund I, L.P., Prides Capital Partners, L.L.C. may be deemed to be the beneficial owner of options owned by such entity. |
(3) | Because Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., and Charles E. McCarthy are the controlling shareholders of Prides Capital Partners, L.L.C., they may be deemed to be the beneficial owners of shares deemed to be beneficially owned by such entity. Each of Prides Capital Partners, L.L.C., Prides Capital Fund I, L.P, Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., and Charles E. McCarthy disclaim beneficial ownership of these options, except to the extent of any pecuniary interest therein |
Remarks: Kevin A. Richardson, II, along with Stephen L. Cootey, has been deputized by Prides Capital Partners, L.L.C. to serve on the Issuer's board of directors, and therefore Prides Capital Partners, L.L.C. and each of the other Reporting Persons also is a director of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934. |