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1.
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Names of Reporting Persons: C. Silk & Sons, Inc., d/b/a Silk Investment Advisors
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IRS Identification No.: 04-3449601
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2.
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Check the Appropriate Box if a Member of a Group
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(a)
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[ ]
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(b)
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[ ]
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3.
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SEC Use Only:
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4.
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Source of Funds: OO
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5.
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Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e): [ ]
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6.
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Citizenship or Place of Organization: Massachusetts
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7.
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Sole Voting Power: 3,881,034
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8.
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Shared Voting Power: 0
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9.
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Sole Dispositive Power: 3,881,034
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10.
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Shared Dispositive Power: 0
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person: 3,881,034
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares: [ ]
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13.
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Percent of Class Represented by Amount in Row (11): 12.2%
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14.
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Type of Reporting Person: IA
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(a)
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Name: C. Silk & Sons, Ltd., incorporated under the laws of the Commonwealth of Massachusetts
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(b)
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Principal business: Investment Adviser
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(c)
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Business address: 24 Hearthstone Drive, Medfield, MA 02052.
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(d)
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Reporting person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
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(e)
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Reporting person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding been made subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
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(a)
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Reporting person beneficially owns 3,881,034 shares representing 12.2% of the ordinary shares outstanding.
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(b)
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Reporting person exercises sole voting power over 3,881,034, and sole dispositive power over 3,881,034, of the shares described in Item 5 (a) above. Reporting person does not have any shared power to vote or dispose of shares.
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(c)
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In the last 60 days:
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(i)
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reporting person purchased 2,500 shares at a combined price of $1.13 per share for a purchase price of $2,832.49 on behalf and for the account of one investment advisory client in the open market on an unsolicited basis on December 16, 2011;
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(ii)
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reporting person purchased 4,000 shares for its own account at $1.09 per share for a purchase price of $4,369.99 on 1/13/2012;
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(iii)
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reporting person sold the following shares for the account of four investment advisory clients in the open market on an unsolicited basis as follows:
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Shares
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Price
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Amount
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Date
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3,300 | $ | 1.25 | $ | 4,124.92 |
11/23/2011
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4,600 | $ | 1.26 | $ | 5,795.88 |
11/23/2011
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1,100 | $ | 1.27 | $ | 1,387.09 |
11/23/2011
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2,000 | $ | 1.32 | $ | 2.630.15 |
12/09/2011
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2,200 | $ | 1.27 | $ | 2,784.17 |
12/23/2011
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2,300 | $ | 1.27 | $ | 2,911.18 |
12/23/2011
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3,600 | $ | 1.12 | $ | 4,031.92 |
12/23/2011
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400 | $ | 1.13 | $ | 451.99 |
12/23/2011
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1,500 | $ | 1.14 | $ | 1,700.12 |
12/23/2011
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and
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(iv)
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474,690 shares belonging to investment advisory clients of reporting person were moved from brokerage to discretionary investment advisory accounts.
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(d)
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The clients of reporting person have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities described in this Item 5.
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(e)
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Reporting person has not ceased to be the beneficial owner of more than five percent of issuer’s ordinary shares.
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