SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(A)
Dewy Electronics Corp.
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(Name of Issuer)
Common Stock
(Title of Class of Securities)
252063102
---------
(CUSIP Number)
Paul D. Sonkin
Hummingbird Management, LLC
460 Park Avenue, 12th Floor
New York, New York 10022
------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 22, 2005
-----------------
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box /_/.
Note. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
--------
1 The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
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 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).
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CUSIP No. 252063102 13D Page 2 of 15 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Management, LLC
IRS No. 13-4082842
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 109,863
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
109,863
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
109,863
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
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CUSIP No. 252063102 13D Page 3 of 15 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Paul D. Sonkin
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 109,863
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
109,863
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
109,863
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
================================================================================
.
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CUSIP No. 252063102 13D Page 4 of 15 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Capital, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 109,863
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
109,863
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
109,863
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
================================================================================
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CUSIP No. 252063102 13D Page 5 of 15 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 38,763
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
38,763
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
38,763
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
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CUSIP No. 252063102 13D Page 6 of 15 Pages
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1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Microcap Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 27,400
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
27,400
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
410,0060
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
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CUSIP No. 252063102 13D Page 7 of 15 Pages
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1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tarsier Nanocap Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 43,700
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
43,700
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
43,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
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CUSIP No. 252063102 13D Page 8 of 15 Pages
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The following constitutes the Schedule 13D filed by the undersigned
(the "Schedule 13D").
ITEM 1 SECURITY AND ISSUER
Title of Class of Securities
Common Stock (the "Shares")
Name and Address of Issuer
Dewey Electronics Corp (the "Company" or the "Issuer")
27 Muller Road
Oakland, New Jersey 07436
ITEM 2 IDENTITY AND BACKGROUND
This statement is being filed by Hummingbird Management, LLC
a Delaware limited liabilitycompany("Hummingbird"), whose principal
business and principal office address is460 Park Avenue, 12th Floor,
New York, New York 10022. Hummingbird acts asinvestment manager to
The Hummingbird Value Fund, L.P. ("HVF") , to The Hummingbird
Microcap Value Fund, L.P. (the "Microcap Fund") and to The Tarsier
Nanocap Value Fund, L.P. (the "Tarsier Fund"), and has the sole
investment discretion and voting authority with respect to the investments
owned of record by each of HVF, Microcap Fund, and Tarsier Fund.
Accordingly, Hummingbird may be deemed for purposes of Rule 13d-3 of the
Securities and Exchange Act of 1934, as amended ("Rule 13d-3"), to be the
beneficial owner of the Shares owned by HVF, Microcap Fund, and Tarsier
Fund. The managing member of Hummingbird is Paul Sonkin. Mr. Sonkin is also
the managing member of Hummingbird Capital, LLC (f/k/a Morningside
Capital, LLC), a Delaware limited liability company ("HC", and together
with Hummingbird, HVF, Microcap Fund, Tarsier Fund, and Mr. Sonkin, the
"Reporting Persons"), the general partner of each of HVF, Microcap Fund, and
Tarsier Fund.
Both HVF, Microcap Fund, and Tarsier Fund are Delaware limited
partnerships whose principal business and principal office address is 460 Park
Avenue, 12th Floor, New York, New York, 10022 and whose principal business
is investing in securities in order to achieve its investment objectives.
Mr. Sonkin is a citizen of the United States and HC is a
Delaware limited liability company. The principal business of Mr. Sonkin
is acting a managing member of each of Hummingbird and HC. The principal
business of HC isacting as general partner of each of HVF, Microcap Fund, and
Tarsier Fund. The principal office address of each of Mr. Sonkin and HC
is 460 Park Avenue, 12th Floor, New York, New York 10022.
During the past five years none of Hummingbird, HVF, Microcap Fund,
Tarsier Fund, Mr. Sonkin or HC has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or has
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of which any of the foregoing was or
is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandatingactivities subject to, Federal or State
securities laws, or finding any violation with respect to such laws.
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CUSIP No. 252063102 13D Page 9 of 15 Pages
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ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
As of December 23, 2005, Hummingbird has caused HVF, Microcap Fund,
and Tarsier Fund to invest approximately $152,326, $106,558, and
$158,344, respectively, in the Shares of the Issuer using their working
capital.
ITEM 4 PURPOSE OF TRANSACTION
The Shares were acquired for investment purposes. However, Hummingbird
may hold discussions with various parties, including, but not limited to, the
Issuer's management, its board of directors and other shareholders on a variety
of possible subjects regarding ways to increase shareholder value. Some of the
suggestions Hummingbird might make could affect control of the Issuer and/or may
relate to the following: the merger, acquisition or liquidation of the Issuer to
third parties, the sale or transfer of assets of the Issuer to third parties,
operational matters, a change in the board of directors or the management of the
Issuer, a change in the present capitalization or dividend policy of the Issuer
or a change in the Issuer's charter or by-laws. Hummingbird intends to pay close
attention to developments at and pertaining to the Issuer, and, subject to
market conditions and other factors deemed relevant by Hummingbird, Hummingbird
may, directly or indirectly, purchase additional Shares of the Issuer or dispose
of some or such Shares in open-market transaction or privately negotiated
transactions. The Reporting Persons have no present plan or proposal which would
relate to or result in any of the matters set forth in subparagraphs (a) - (j)
of Item 4 of Schedule 13D except as set forth herein or such as would occur upon
completion of any of the actions discussed above.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a) As investment manager of HVF, Microcap Fund, and Tarsier
Fund, Hummingbird may be deemed to have the sole voting and investment
authority over the Shares owned by HVF, Microcap Fund, and Tarsier Fund,
for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as
amended ("Rule 13d-3"), may be deemed to be the beneficial owner of
109,863 Shares representing approximately 8.1% of the outstanding shares
of the Issuer (based upon 1,362,031 shares of Common Stock outstanding as of
November 10, 2005 as reported on Form 10-Q for the period ended September 30,
2005.) Hummingbird disclaims any beneficial ownership of the Shares covered by
this Statement.
Mr. Sonkin, as the managing member and control person of Hummingbird,
may be deemed to have the sole voting and investment authority over the Shares
beneficially owned by Hummingbird and, for purposes of Rule 13d-3, may be deemed
to be the beneficial owner of 109,863 Shares representing approximately 8.1%
of the outstanding shares of the Issuer. Mr. Sonkin disclaims any beneficial
ownership of the Shares covered by this Statement.
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CUSIP No. 252063102 13D Page 10 of 15 Pages
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HC, as the general partner of each of HVF, Microcap Fund, and
Tarsier Fund, may be deemed to have the sole voting and
investment authority over the Shares owned by HVF, Microcap Fund, and
Tarsier Fund, for purposes of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended ("Rule 13d-3"), may be deemed to be the
beneficial owner of 109,863 Shares representing approximately 8.1% of the
outstanding shares of the Issuer (based upon 1,362,031 shares of Common Stock
outstanding as of November 10, 2005 as reported on Form 10-Q for the period
ended September 30, 2005.) HC disclaims anybeneficial ownership of the
Shares covered by this Statement.
HVF is the beneficial owner of 38,763 Shares or 2.8% of the
outstanding shares of the Issuer.
Microcap Fund is the beneficial owner of 27,400 Shares or 2.0%
of the outstanding shares of the Issuer.
Tarsier Fund is the beneficial owner of 531,224 Shares or 3.2%
of the outstanding shares of the Issuer.
(c) Hummingbird caused HVF to effect transactions in the Shares during
the past 60 days as set forth below:
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
12/22/2005 open market purchase 25,000 3.865
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CUSIP No. 252063102 13D Page 11 of 15 Pages
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Hummingbird caused the Microcap Fund to effect transactions in the
Shares during the past 60 days as set forth below:
NUMBER OF
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
12/22/2005 open market purchase 25,000 3.865
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CUSIP No. 252063102 13D Page 12 of 15 Pages
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Hummingbird caused the Tarsier Fund to effect transactions in the
Shares during the past 60 days as set forth below:
NUMBER OF
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
11/2/2005 open market purchase 1,000 3.600
11/16/2005 open market purchase 2,000 3.425
11/17/2005 open market purchase 3,000 3.193
11/18/2005 open market purchase 2,700 3.400
11/28/2005 open market purchase 2,000 3.505
12/20/2005 open market purchase 27,500 3.675
12/20/2005 open market purchase 1,000 3.410
12/21/2005 open market purchase 2,500 3.500
(d) Inapplicable.
(e) Inapplicable.
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CUSIP No. 252063102 13D Page 13 of 15 Pages
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ITEM 6 Inapplicable
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS
Exhibit Exhibit
No. Description
--- ---------------------------------------------------------------
1 Joint Filing Agreement dated December 23, 2005 by and among
Hummingbird Management, LLC (f/ka Morningside Value Investors,
LLC), Hummingbird Value Fund, L.P., Hummingbird Mircocap Value
Fund, L.P., Tarsier Nanocap Value Fund, L.P, Hummingbird
Capital, LLC (f/k/a Morningside Capital, LLC) and Paul
Sonkin.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: December 23, 2005 HUMMINGBIRD MANAGEMENT, LLC
(f/k/a Morningside Value Investors, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD VALUE FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD MICROCAP VALUE
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
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CUSIP No. 252063102 13D Page 14 of 15 Pages
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TARSIER NANOCAP VALUE
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD CAPITAL, LLC
(f/k/a Morningside Capital, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
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CUSIP No. 252063102 13D Page 15 of 15 Pages
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JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them of a Statement on Schedule 13D dated December 23, 2005
(including amendments thereto) with respect to the Common Stock of
Meade Instrument Corp. This Joint Filing Agreement shall be filed as an Exhibit
to such Statement.
Dated: December 23, 2005 HUMMINGBIRD MANAGEMENT, LLC
(f/k/a Morningside Value Investors, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD VALUE FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD MICROCAP VALUE
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
TARSIER NANOCAP VALUE
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD CAPITAL, LLC
(f/k/a Morningside Capital, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin