(c) On June 29, 2005, IBS became the beneficial owner of 4,880,092 Shares, all of which were purchased from the Company in an offering under Rule 144. Of these Shares, 2,376,300 were purchased by QP Turnaround Fund; the remaining 927,800 Shares were purchased by the LP Turnaround Fund, of which IBS is also the general partner. The purchase price for such Shares was $0.91 per Share.
QP Turnaround Fund had previously purchased 46,152 Shares on May 17, 2005 at a price of $1.18 per Share; 15,205 Shares on May 18, 2005 at a price of $1.18 per Share; 21,157 Shares on May 19, 2005 at a price of $1.17 per Share; 15,113 Shares on May 20, 2005 at a price of $1.18 per Share; 53,498 Shares on May 23, 2005 at a price of $1.15 per Share; and 12,090 Shares on May 24, 2005 at a price of $1.15 per Share.
LP Turnaround Fund had previously purchased 18,628 Shares on May 17, 2005 at a price of $1.18 per Share; 6,148 Shares on May 18, 2005 at a price of $1.18 per Share; 8,544 Shares on May 19, 2005 at a price of $1.17 per Share; 6,103 Shares on May 20, 2005 at a price of $1.18 per Share; 21,603 Shares on May 23, 2005 at a price of $1.15 per Share; and 4,882 Shares on May 24, 2005 at a price of $1.15 per Share. LP Turnaround Fund also purchased 6,000 Shares on July 7, 2005 at a price of $1.05 per share and 25,500 Shares on July 8, 2005 at a price of $1.05 per Share.
Opportunity Fund had previously purchased 11,720 Shares on May 17, 2005 at a price of $1.18 per Share; 3,647 Shares on May 18, 2005 at a price of $1.18 per Share; 5,299 Shares on May 19, 2005 at a price of $1.17 per Share; 3,784 Shares on May 20, 2005 at a price of $1.18 per Share; 13,399 Shares on May 23, 2005 at a price of $1.15 per Share; and 3,028 Shares on May 24, 2005 at a price of $1.15 per Share. Opportunity Fund also purchased 25,000 Shares on July 6, 2005 at a price of $1.04 per Share. |
