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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Manko Joseph M. Jr. 1717 ARCH STREET, 39TH FLOOR PHILADELPHIA, PA 19103 |
X | |||
Horton Capital Management, LLC 1717 ARCH STREET, SUITE 3920 PHILADELPHIA, PA 19103 |
X | |||
Horton Capital Partners, LLC 1717 ARCH STREET, SUITE 3920 PHILADELPHIA, PA 19103 |
X | |||
Horton Capital Partners Fund, L.P. 1717 ARCH STREET, SUITE 3920 PHILADELPHIA, PA 19103 |
X |
/s/ Joseph M. Manko, Jr., Joseph M. Manko, Jr. | 01/02/2019 | |
**Signature of Reporting Person | Date | |
/s/ Joseph M. Manko, Jr., Joseph M. Manko, Jr., Managing Member of Horton Capital Management, LLC | 01/02/2019 | |
**Signature of Reporting Person | Date | |
/s/ Joseph M. Manko, Jr., Joseph M. Manko, Jr., Managing Member of Horton Capital Partners, LLC | 01/02/2019 | |
**Signature of Reporting Person | Date | |
/s/ Joseph M. Manko, Jr., Joseph M. Manko, Jr., Managing Member of Horton Capital Partners, LLC, the General Partner of Horton Capital Partners Fund, LP | 01/02/2019 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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) | The price reported in Column 4 is a weighted average price. The shares of common stock were purchased in multiple transactions at prices ranging from: (i) $1.64-$1.74 on December 28, 2018, (ii) $1.70-$1.80 on December 31, 2018, and (iii) $1.65-$1.71 on January 2, 2019. The reporting person undertakes to provide to the issuer, any holder of the issuer's common stock, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4. |
(2) | This Form 4 is filed jointly by Horton Capital Management, LLC, a Delaware limited liability company ("HCM"), Horton Capital Partners LLC, a Delaware limited liability company ("HCP"), Horton Capital Partners Fund, LP, a Delaware limited partnership ("HCPF"), and Joseph M. Manko, Jr. HCM maintains investment and voting power with respect to shares of Common Stock of the Company held by HCPF. However, despite the delegation of investment and voting power to HCM, HCP may be deemed to be the beneficial owner of such securities under Rule 13d-3 of the Securities Exchange Act of 1934, as amended, because HCP has the right to acquire investment and voting power through termination of investment management agreements with HCM. HCM also acts as an investment adviser to certain managed accounts. |
(3) | (Continued from Footnote 2) Under investment management agreements with managed account clients, HCM also has investment and voting power with respect to 20,000 shares of Common Stock of the issuer held in such managed accounts. HCP is the general partner of HCPF. Mr. Manko is the managing member of both HCM and HCP. |
Remarks: The filing of this statement shall not be construed as an admission (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person. |