Way to Go Norman!
Hello,
In two individual SEC 13-D filings Mr. Norman Pessin has demonstarted
his investment skills by achieving an average return of 100% on SOLP
stock and warrants. The first filing lists the individual purchases
while the second lists the sale.
Way to go Norman!
First filing.........
sec.gov
ITEM 5 Interest in Securities of the Issuer
A) Norman H. Pessin is the beneficial owner of 265,000
shares which represents 5.01% of the 5,289,785 shares
outstanding.
Please note that of the 265,000 shares reported as
beneficial ownership this number includes 160,500 warrants
which expire on 10/20/99. Each warrant entitles the owner to
purchase one share of Common Stock at an exercise price of
$4.50. For purposes of this filing, Mr. Pessin is deemed to
be the beneficial owner of the 160,500 shares into which the
warrants are exercisable. In calculating the percentage of
the shares outstanding Mr. Pessin owns, these shares into
which the warrants are exercisable have been deemed to be
currently outstanding in accordance with Rule 13d-
3(d)(1)(i).
B) Norman H. Pessin has the sole power to dispose of 170,000
shares and has shared dispositive power with regard to
95,000 shares. Norman H. Pessin has sole voting power with
regard to 170,000 shares and has shared voting power with
regard to 0 shares.
C) During the 60 days surrounding the event triggering this
filing. Norman H. Pessin effected 14 open market
transactions in the shares. The trade dates and prices are
noted below:
Trade Date B/S Shares Price
07/10/97 B 5,000 0.4062
07/23/97 B 10,000 0.4687
07/23/97 B 5,000 2.8125
07/24/97 B 2,000 3
07/31/97 B 2,500 3
07/31/97 B 10,000 0.5
08/07/97 B 10,000 0.5
08/08/97 B 10,000 0.4375
08/14/97 B 10,000 0.4375
09/03/97 B 20,000 0.3986
09/05/97 B 10,000 2.7812
09/08/97 B 20,000 0.4062
09/10/97 B 30,000 0.4218
09/10/97 B 5,000 2.875
ITEM 6 Contracts, Agreements, Understandings or Relationship
with Respect to
Securities of Issuer
There are no agreements, contracts or understandings of any
kind between Norman H. Pessin and any other person with
regard to the shares or the issuer.
Second filing.........
sec.gov
ITEM 5 Interest in Securities of the Issuer
A) Norman H. Pessin is the beneficial owner of 110,000
shares which represents 2.14% of the 5,129,285 shares
outstanding.
B) Norman H. Pessin has the sole power to dispose of 0
shares and has shared dispositive power with regard to
110,000 shares. Norman H. Pessin has sole voting power with
regard to 0 shares and has shared voting power with regard
to 0 shares.
C) During the 60 days surrounding the event triggering this
filing. Norman H. Pessin effected 2 open market transactions
in the shares. The trade dates and prices are noted below:
Trade Date B/S Shares Price
11/04/97 S 9,500 3.7187
*11/04/97 S 200,500 0.865
*Please note that the 200,500 shares reported as sold were
in fact warrants. As originally reported on Mr. Pessin's 13D
filing dated September 17, 1997, these warrants entitled the
owner to purchase one share of common stock at an exercise
price of $4.50 with an expiration date of 10/20/99. In
calculating the percentage of the shares outstanding Mr.
Pessin owned, these shares into which the warrants were
exercisable had been deemed to be currently outstanding in
accordance with Rule 13d-3(d)(1)(i).
ITEM 6 Contracts, Agreements, Understandings or Relationship
with Respect to
Securities of Issuer
There are no agreements, contracts or understandings of any
kind between Norman H. Pessin and any other person with
regard to the shares or the issuer.
I wonder if SOLP purchased these warrants from Norman? The fact that
he now holds a substantial amount of stock jointly with his spouse
could meant that he expects some more appreciation.
Regards,
Tom |
