UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 4)
Under the Securities Exchange Act of 1934
COBRA ELECTRONICS CORP.
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(Name of issuer)
COMMON STOCK
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(Title of class of securities)
191042100
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(CUSIP number)
TIMOTHY J. STABOSZ, 1307 MONROE STREET, LAPORTE, IN 46350 (219) 324-5087
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(Name, address and telephone number of person authorized to receive notices and
communications)
OCTOBER 7, 2011
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [_]
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 191042100
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1. Name of Reporting Person
TIMOTHY JOHN STABOSZ
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2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_]
NOT APPLICABLE (b) [_]
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3. SEC Use Only
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4. Source of Funds (See Instructions) PF
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5. Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [_]
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6. Citizenship or Place of Organization UNITED STATES
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Number of (7) Sole Voting Power 449,327
Shares ____________________________________________
Beneficially (8) Shared Voting Power 0
Owned by ____________________________________________
Each (9) Sole Dispositive Power 449,327
Reporting ____________________________________________
Person With (10) Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned 449,327
by each Reporting Person
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12. Check if the Aggregate Amount in Row (11) Excludes [_]
Certain Shares
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13. Percent of Class Represented by Amount in Row (11) 6.9%
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14. Type of Reporting Person (See Instructions) IN
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ITEM 1. Security and Issuer
Common stock of Cobra Electronics Corp., 6500 W. Cortland Street,
Chicago, IL 60707.
ITEM 2. Identity and Background
The reporting person, Timothy J. Stabosz, 1307 Monroe Street, LaPorte,
IN 46350, a natural person and United States citizen, is engaged as a
private investor. He has not been convicted in a criminal proceeding
(excluding traffic violations or other similar misdemeanors) in the last 5
years, and has not been a party to any proceedings, or subject to any
judgements, enjoinments, decrees, et al, related to violations of state or
federal securities laws, in his lifetime.
ITEM 3. Source and Amount of Funds or Other Consideration
Personal funds in the aggregate amount of $637,445.19 have been used to
effect the purchases. No part of the purchase price represents borrowed
funds.
ITEM 4. Purpose of Transaction
The reporting person has acquired the shares for investment purposes.
The reporting person believes the shares remain undervalued in the
marketplace, primarily owing to: 1) the company's dramatic financial
turnaround, the past few quarters, 2) the company's possession of roughly
$8 million in NOL carry-forwards, which will shield future income from tax,
3) the company's "bevy" of new, high visibility, award-winning products,
and, as announced, its healthy pipeline of new products to come, 4) the
Cobra segment's expanded retail presence, domestically, and expanded
distribution and rapidly increasing sales, internationally (particularly in
Eastern Europe), and 5) the premier brand value that is reflected in the
company's estimated 2/3 market share in its "mainstay" C.B. radio and
detection businesses.
The reporting person is filing this Amendment No. 4 to reflect a
decrease in his ownership percentage of the company's common stock to 6.9%,
from the 8.1% reported on Schedule 13D, Amendment No. 3, dated April 22,
2011. The reporting person has reduced his overall ownership position,
primarily for 2 reasons: 1) as the reporting person tends to remain fully
invested in the market, at all times, he has had an ongoing need to meet
broker margin calls, owing to recent extreme market volatility, and
2) noting the significant increase in Cobra's share price (compared to the
reporting person's average cost), and overall decline in the value of his
portfolio otherwise, the reporting person has reduced his ownership position
in Cobra to maintain sufficient diversification of risk.
The reporting person currently has no specific plan or proposals which
relate to or would result in any of the matters set forth in subparagraphs
(a) - (j) of Item 4 of Schedule 13D. This notwithstanding, the reporting
person intends to review his investment in the company on a continual basis
and engage in discussions with management and the Board of Directors
concerning the business, operations, and future plans of the company.
Depending on various factors, including, without limitation, the company's
financial position and investment strategy, the price levels of the common
stock, conditions in the securities markets, and general economic and
industry conditions, the reporting person may, in the future, take such
actions with respect to his investment in the company as he deems
appropriate including, without limitation, communicating with other
stockholders, seeking Board representation, making proposals to the company
concerning the capitalization and operations of the issuer, purchasing
additional shares of common stock or selling some or all of his shares, or
changing his intention with respect to any and all matters referred to in
Item 4.
ITEM 5. Interest in Securities of the Issuer
As of the close of business on November 23, 2011, the reporting person
has sole voting and dispositive power over 449,327 shares of Cobra
Electronics Corp.'s common stock. The company's latest Form 10-Q filing, as
of November 7, 2011, indicates there were 6,539,580 common shares
outstanding. Accordingly, the reporting person is deemed to own 6.9% of the
company's common stock. Transactions effected by the reporting person from
August 8, 2011, through November 23, 2011, were performed in ordinary
brokerage transactions, and are indicated as follows:
08/08/11 sold 2463 shares at $3.40
08/09/11 bought 10,000 shares at $3.17
08/09/11 sold 6200 shares at $3.148
08/11/11 sold 37 shares at $3.42
09/14/11 sold 2700 shares at $3.54
09/15/11 sold 5000 shares at $3.62
09/20/11 bought 2500 shares at $3.33
09/21/11 bought 2500 shares at $3.25
09/22/11 bought 2500 shares at $3.037
09/23/11 sold 3020 shares at $3.449
09/26/11 sold 6980 shares at $3.481
09/27/11 sold 5100 shars at $3.57
09/30/11 bought 7500 shares at $3.26
09/30/11 sold 5000 shares at $3.475
10/03/11 bought 2500 shares at $3.26
10/07/11 sold 20,300 shares at $3.515
10/25/11 bought 99 shares at $3.43
11/01/11 bought 402 shares at $3.51
11/15/11 sold 972 shares at $4.942
11/16/11 sold 4178 shares at $4.95
ITEM 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
Not Applicable
ITEM 7. Material to be Filed as Exhibits
Not Applicable
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date 11/23/11
Signature Timothy J. Stabosz
Name/Title Timothy J. Stabosz, Private Investor