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CUSIP No. |
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717098206 |
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Page |
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5 |
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of |
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7 |
transactions, engaging in short selling of or any hedging or similar transactions with respect to
the Shares; or (e) taking any other action similar to those listed above. Any open market or
privately negotiated purchases, sales, distributions or other transactions may be made at any time
without further prior notice.
While neither the Reporting Persons nor Morehead Capital Advisors have any specific plans or
proposals that relate to or would result in any of the transactions involving the Reporting Persons
described in sub-paragraphs (a) through (e) of Item 4 of Schedule 13D, the Reporting Persons may
from time to time consider pursuing or proposing any or all of the transactions described in
subparagraphs (a) through (e) of Item 4. The Reporting Persons intend to review their investment in
the Issuer on a continuing basis. The Reporting Persons retain their rights to modify their plans
with respect to the transactions described in this Item 4, to acquire or dispose of Shares and to
formulate plans and proposals that could result in the occurrence of any such events, subject to
applicable laws and regulations.
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on November 11, 2008, the Reporting Persons beneficially owned
651,076 Shares, constituting approximately 6.55% of the Shares outstanding. The percentage of
Shares beneficially owned by the Reporting Persons is based upon 9,931,137 Shares outstanding,
which is the total number of Shares outstanding as of August 14, 2008 as reported in the Issuer’s
Quarterly Report on Form 10-Q for the period ended June 30, 2008.
(b) See paragraph (a) above.
(c) The following purchases of Shares have been made by the Reporting Persons in the past 60
days:
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Average Price |
| Date |
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Shares Acquired |
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(including commissions) |
09/12/08
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1,500 |
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$ |
4,890.00 |
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09/15/08
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1,000 |
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3,265.00 |
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09/15/08
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1,362 |
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4,399.23 |
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09/15/08
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638 |
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2,054.34 |
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09/16/08
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25,000 |
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70,595.00 |
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09/17/08
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29,400 |
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73,958.94 |
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09/18/08
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19,500 |
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47,520.90 |
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09/19/08
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3,500 |
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8,485.00 |
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09/23/08
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31,200 |
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77,905.80 |
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10/07/08
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36,683 |
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74,114.66 |
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10/08/08
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9,266 |
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17,789.04 |
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10/13/08
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500 |
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969.00 |
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10/24/08
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591 |
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1,031.52 |
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10/27/08
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13,963 |
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24,372.06 |
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10/30/08
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1,100 |
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2,062.21 |
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10/31/08
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2,500 |
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4,649.00 |
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