Here's Harrosh's reason for selling:
The Reporting Person disposed of the shares because the
first quarter loss, reported August 13, 1997 after the market close,
was substantially greater than the Reporting Person anticipated. The
Reporting Person may, from time to time, acquire additional shares of
Common Stock or dispose of some or all of the Shares in ordinary
brokerage or privately negotiated transactions.
Item 5. Interest in Securities of the Issuer
According to the Issuer's Form 10K for the fiscal year ended
March 31, 1997, the Issuer has outstanding shares of 24,965,534 shares
as of: May 30, 1997. In addition, there were 707,311 shares of treasury stock as of such date.
The Reporting Person has sole voting and dispositive power over: 1,136,800 shares representing: 4.5535% of the outstanding class of common stock. On August 15, 1997 the Reporting Person made net sales of 315,000 shares at an average price of $5.0028 per share. This event required the filing of this statement. |
