1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Warrants to purchase shares of Common Stock
|
Â
(3)
|
11/15/2011 |
Common Stock, no par value per share
|
99,000
|
$
4.05
|
I
(1)
(2)
|
By The Pinnacle Fund, L.P.
|
Warrants to purchase shares of Common Stock
|
Â
(3)
|
11/15/2011 |
Common Stock, no par value per share
|
99,000
|
$
4.25
|
I
(1)
(2)
|
By The Pinnacle Fund, L.P.
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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) |
Barry M. Kitt exercises investment discretion and control over the shares of common stock of the issuer held by The Pinnacle
Fund, L.P., a Texas limited partnership ("Pinnacle"). Mr. Kitt may be deemed to be the beneficial owner of the shares of
common stock beneficially owned by Pinnacle. Mr. Kitt hereby disclaims beneficial ownership of the shares of common stock
reported herein to the extent of his direct or indirect pecuniary interest therein, and this Form 3 shall not be deemed to
be an admission that Mr. Kitt is the beneficial owner of the shares of common stock reported herein for purposes of Section
16 of the Securities Exchange Act of 1934, as amended or for any other purpose. |
(2) |
This Form 3 is filed on behalf of Pinnacle and Barry M. Kitt. Pinnacle Advisers, L.P. ("Advisers") is the general partner of
Pinnacle. Pinnacle Fund Management, LLC ("Management") is the general partner of Advisers. Mr. Kitt is the sole member of
Management. |
(3) |
While the warrants reported on Table II of this Form 3 are exercisable immediately, such warrants are subject to an exercise
limitation that preclude the holder thereof from utilizing its exercise rights to the extent that it would beneficially own
(determined in accordance with Section 13(d) of the Securities Exchange Act of 1934) in excess of 9.99% of the Common Stock,
giving effect to such exercise. |