UNITED STATES

SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No.     )*

 

Circuit City Stores, Inc.

(Name of Issuer)

 

Common Stock, $0.50 par value

(Title of Class of Securities)

 

172737108

(CUSIP Number)

 

Mark J. Wattles

321 W. 84th Avenue, Suite A

Thornton, CO 80260

303-801-4003

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

January 9, 2008

(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), Rule 13d-1(f) or Rule 13d-1(g), check the following box.     o

 

Note:  Schedules filed in paper format shall include a signed original and five copies of this schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.

 

*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 (“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. 172737108  

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Mark J. Wattles

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
AF

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
U.S.

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
11,000,000

 

8.

Shared Voting Power

 

9.

Sole Dispositive Power
11,000,000

 

10.

Shared Dispositive Power

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
11,000,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
6.5%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 

 

2



 

CUSIP No. 172737108  

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Wattles Capital Management, LLC

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC, OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
    10,000,000

 

8.

Shared Voting Power
    —

 

9.

Sole Dispositive Power
    10,000,000

 

10.

Shared Dispositive Power
    —

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
10,000,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
5.9%

 

 

14.

Type of Reporting Person (See Instructions)
OO

 

 

3



 

CUSIP No. 172737108  

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
HKW Trust

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
WC, OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Nevada

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
1,000,000

 

8.

Shared Voting Power

 

9.

Sole Dispositive Power
1,000,000

 

10.

Shared Dispositive Power

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
1,000,000

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
.6%

 

 

14.

Type of Reporting Person (See Instructions)
OO

 

 

4



 

Item 1.                    Security and Issuer.

 

This Statement on Schedule 13D (this “Schedule”) relates to the common stock, par value $0.50 per share (“Common Stock”), of Circuit City Stores, Inc., a Virginia corporation (the “Issuer”).  The principal executive offices of the Issuer are located at 9950 Mayland Drive, Richmond, Virginia 23233.

 

Item 2.                    Identity and Background.

 

(a)           This Schedule is being filed by Wattles Capital Management, LLC, a Delaware limited liability company (“WCM”), HKW Trust, a trust organized under the laws of the State of Nevada (the “Trust”), and Mark J. Wattles (collectively, the “Reporting Persons”).  Mr. Wattles is the sole member and manager of WCM and owns 100% of its membership interests.  Mr. Wattles is the settler and sole trustee of the Trust and exercises sole discretion over the Trust pursuant to the terms and conditions set forth in the Trust instrument.

 

                (b)           The business address of Mr. Wattles is 321 W. 84th Avenue, Suite A, Thornton, CO 80260, 303-801-4003.  The business address of WCM and the Trust is 7945 W. Sahara Ave., Suite 205, Las Vegas, NV 89117.

 

(c)           Mr. Wattles’ principal occupation is serving as President of WCM, which is primarily engaged in investing in public and private companies in the consumer products and retail sectors.  WCM indirectly owns a majority interest in Ultimate Acquisition Partners, LP, a Delaware limited partnership (“UAP”), which owns 32 consumer electronics retail stores under the name Ultimate Electronics.  Mr. Wattles also serves as Chief Executive Officer of UAP.  The Trust acquires, holds, manages and disposes of assets for the benefit of a member of Mr. Wattles’ family and The Wattles Family Foundation.

 

(d)           During the last five years, neither Mr. Wattles (individually or as trustee of the Trust) nor WCM has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e)           During the last five years, neither Mr. Wattles (individually or as trustee of the Trust) nor WCM has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction making him or it 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.

 

(f)            Mr. Wattles is a citizen of the United States of America.

 

Item 3.                    Source and Amount of Funds or Other Consideration.

 

WCM acquired the shares of Common Stock described in this Schedule (the “Shares”) in a margin account pursuant to a standard brokerage agreement.  The Trust acquired the Shares with cash on hand.

 

 

5



 

Item 4.                    Purpose of Transaction.

 

The Reporting Persons acquired the Shares for investment purposes.  Prior to the acquisition of the Shares, the Reporting Persons met with management of the Issuer and have had discussions with shareholders of the Issuer.  The Reporting Persons intend to continually evaluate and review the Issuer’s business affairs, financial position, future prospects and management, as well as conditions in the securities markets (including but not limited to the price of and market for the Shares) and general economic and industry conditions.  Based on such evaluation and review and other factors, the Reporting Persons will continue to consider various alternative courses of action and will in the future take such actions with respect to their investment in the Issuer as they deem appropriate in light of the circumstances existing from time to time.  Such actions may include, among other things: (i) communicating with shareholders of the Issuer or other persons who may desire to become shareholders of the Issuer,  regarding matters including the composition of the Issuer’s  board of  directors  and  management;  (ii)  soliciting  proxies or consents,  to be  used  at  either  the  Issuer’s regular  annual  meeting  of shareholders,  or at a special  meeting  of  shareholders,  or  otherwise,  with respect to the matters described in clause (i) above, including possibly the election of one or more nominees of the Reporting Persons and/or other shareholders to the board of directors of the Issuer, and other matters related thereto; (iii) communicating with management and members of the board of directors; (iv) seeking to cause the Issuer to merge with or into, consolidate with, transfer all or substantially all of its assets to, or otherwise engage in any business combination with, one or more other parties; (v) seeking alone or with others to acquire control of the Issuer through a merger, proxy solicitation, tender offer, exchange offer or otherwise; (vi) acquiring additional shares of Common Stock; (vii) disposing of any or all of the shares of Common Stock held by the Reporting Persons; and/or (viii) taking such other  actions with respect to the Issuer as the Reporting Persons may from time to time determine.

 

Item 5.                    Interest in Securities of the Issuer.

 

(a)-(b)     As of January 22, 2008, WCM and the Trust owned 10,000,000 Shares and 1,000,000 Shares, respectively, of Common Stock.  According to the Issuer’s Quarterly Report on Form 10-Q for the quarter ended November 30, 2007, there were 168,366,176 shares of Common Stock issued and outstanding as of December 31, 2007.  Because Mr. Wattles owns all of the membership interests of WCM and serves as sole trustee of the Trust, he may be deemed to have sole voting and dispositive power over, and indirect beneficial ownership of, approximately 6.5% of such issued and outstanding Common Stock.

 

        (c)           During the last 60 days, none of the Reporting Persons has bought, sold or otherwise received shares of Common Stock except in the transactions described in Schedule I attached hereto, which is incorporated herein by reference.

 

                (d)           No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of, dividends from or proceeds from the sale of the Shares.

 

                (e)           Not applicable.

 

 

6



 

Item 6.                    Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

The Reporting Persons do not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect of any securities of the Issuer, including but not limited to, transfer or voting of any of the securities of the Issuer, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, or a pledge or contingency the occurrence of which would give another person voting or investment power over securities of the Issuer.

 

Item 7.                    Material to Be Filed as Exhibits.

 

Exhibit 1                                                   Joint Filing Agreement, dated as of January 22, 2008, by and among Wattles Capital Management, LLC, the HKW Trust and Mark J. Wattles.

 

 

7



 

SIGNATURE

 

After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

January 22, 2008

 

 

 

WATTLES CAPITAL MANAGEMENT, LLC

 

 

 

 

 

 

 

By:

/s/ Mark J. Wattles

 

 

 

Name:

Mark J. Wattles

 

 

 

Title:

President

 

 

 

 

 

 

 

 

 

 

 

 

HKW TRUST

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ Mark J. Wattles

 

 

 

Name:

Mark J. Wattles

 

 

 

Title:

Trustee

 

 

 

 

 

 

 

 

 

 

 

 

/s/ Mark J. Wattles

 

 

Mark J. Wattles

 

 

 

 

 

 

8


 


SCHEDULE I

 

All of the following transactions were purchases or sales of Common Stock effected in the open market.

 

                As of January 22, 2008, WCM owned 10,000,000 shares of Common Stock.  The following transactions were effected by WCM during the sixty days preceding January 22, 2008:

 

WCM TRANSACTIONS

Date

 

Number of Shares

 

Price Per Share

 

Sales:

 

 

 

 

 

12/4/2007

 

56,653

 

6.45

 

12/4/2007

 

22,600

 

6.48

 

12/4/2007

 

5,747

 

6.49

 

12/4/2007

 

15,000

 

6.5

 

12/4/2007

 

3,500

 

6.58

 

12/4/2007

 

900

 

6.585

 

12/4/2007

 

39,900

 

6.59

 

12/4/2007

 

300

 

6.595

 

12/4/2007

 

433,506

 

6.6

 

12/4/2007

 

21,894

 

6.61

 

12/5/2007

 

4020

 

6.71

 

12/5/2007

 

11205

 

6.72

 

12/5/2007

 

175

 

6.7275

 

12/5/2007

 

9300

 

6.73

 

12/5/2007

 

700

 

6.74

 

12/5/2007

 

5800

 

6.75

 

12/5/2007

 

20200

 

6.76

 

12/5/2007

 

35600

 

6.77

 

12/5/2007

 

13000

 

6.78

 

12/5/2007

 

1600

 

6.8

 

12/5/2007

 

34200

 

6.81

 

12/5/2007

 

3000

 

6.82

 

12/5/2007

 

33600

 

6.83

 

12/5/2007

 

11000

 

6.84

 

12/5/2007

 

13300

 

6.85

 

12/5/2007

 

2200

 

6.86

 

12/5/2007

 

1100

 

6.87

 

12/5/2007

 

9300

 

6.89

 

12/5/2007

 

500

 

6.895

 

12/5/2007

 

20800

 

6.9

 

12/5/2007

 

200

 

6.905

 

12/5/2007

 

18499

 

6.91

 

12/5/2007

 

11500

 

6.92

 

12/5/2007

 

5300

 

6.93

 

12/5/2007

 

3900

 

6.94

 

12/5/2007

 

9400

 

6.95

 

12/5/2007

 

1000

 

6.955

 

12/5/2007

 

22401

 

6.96

 

12/5/2007

 

2700

 

6.97

 

12/5/2007

 

13900

 

6.98

 

12/5/2007

 

5600

 

6.99

 

12/5/2007

 

37300

 

7.05

 

12/5/2007

 

27600

 

7.06

 

12/5/2007

 

9300

 

7.07

 

12/5/2007

 

800

 

7.08

 

12/18/2007

 

6.4

 

23850

 

12/18/2007

 

6.41

 

7950

 

12/18/2007

 

6.42

 

189150

 

12/18/2007

 

6.43

 

29050

 

12/18/2007

 

6.6

 

9900

 

12/18/2007

 

6.61

 

10700

 

12/18/2007

 

6.62

 

4700

 

12/18/2007

 

6.63

 

18609

 

12/18/2007

 

6.64

 

23190

 

12/18/2007

 

6.65

 

3000

 

12/18/2007

 

6.66

 

13100

 

12/18/2007

 

6.67

 

29300

 

12/18/2007

 

6.68

 

7600

 

12/18/2007

 

6.69

 

34100

 

12/18/2007

 

6.7

 

1500

 

12/18/2007

 

6.71

 

29700

 

12/18/2007

 

6.72

 

64301

 

12/18/2007

 

6.725

 

300

 

 

9



 

WCM TRANSACTIONS

Date

 

Number of Shares

 

Price Per Share

 

12/19/2007

 

6.6

 

39985

 

12/19/2007

 

6.61

 

8600

 

12/19/2007

 

6.62

 

16000

 

12/19/2007

 

6.63

 

16316

 

12/19/2007

 

6.64

 

16200

 

12/19/2007

 

6.65

 

158584

 

12/19/2007

 

6.66

 

57800

 

12/19/2007

 

6.67

 

36415

 

12/19/2007

 

6.68

 

49500

 

12/19/2007

 

6.685

 

500

 

12/19/2007

 

6.69

 

100

 

12/19/2007

 

6.75

 

80900

 

12/19/2007

 

6.755

 

100

 

12/19/2007

 

6.76

 

13800

 

12/19/2007

 

6.77

 

5000

 

12/19/2007

 

6.78

 

100

 

12/19/2007

 

6.79

 

100

 

 

 

 

 

 

 

Purchases:

 

 

 

 

 

11/26/2007

 

1,800

 

5.94

 

11/26/2007

 

300

 

5.965

 

11/26/2007

 

14,400

 

5.97

 

11/26/2007

 

10,200

 

5.98

 

11/26/2007

 

18,100

 

5.99

 

11/26/2007

 

300

 

5.995

 

11/26/2007

 

204,900

 

6

 

11/26/2007

 

60,700

 

6.01

 

11/26/2007

 

53,400

 

6.02

 

11/26/2007

 

185,900

 

6.03

 

11/26/2007

 

200,000

 

6.05

 

11/26/2007

 

4,919

 

6.15

 

11/26/2007

 

10,700

 

6.17

 

11/26/2007

 

57,200

 

6.18

 

11/26/2007

 

29,700

 

6.19

 

11/26/2007

 

16,859

 

6.2

 

11/26/2007

 

17,341

 

6.21

 

11/26/2007

 

44,900

 

6.22

 

11/26/2007

 

400

 

6.2225

 

11/26/2007

 

105,475

 

6.23

 

11/26/2007

 

170,306

 

6.24

 

11/26/2007

 

292,200

 

6.25

 

11/26/2007

 

15,400

 

6.38

 

11/26/2007

 

231,300

 

6.4

 

11/26/2007

 

900

 

6.44

 

11/26/2007

 

900

 

6.47

 

11/26/2007

 

1,500

 

6.48

 

11/26/2007

 

3,131

 

6.74

 

11/26/2007

 

8,200

 

6.75

 

11/26/2007

 

4,600

 

6.76

 

11/26/2007

 

4,600

 

6.77

 

11/26/2007

 

2,869

 

6.78

 

11/26/2007

 

64,700

 

6.79

 

11/26/2007

 

3,200

 

6.8

 

11/26/2007

 

4,800

 

6.81

 

11/26/2007

 

5,800

 

6.82

 

11/26/2007

 

9,600

 

6.83

 

11/26/2007

 

500

 

6.835

 

11/26/2007

 

1,800

 

6.84

 

11/26/2007

 

300

 

6.85

 

11/26/2007

 

6,000

 

6.87

 

11/26/2007

 

7,400

 

6.88

 

11/26/2007

 

200

 

6.885

 

11/26/2007

 

1,100

 

6.89

 

11/26/2007

 

3,900

 

6.9

 

11/26/2007

 

300

 

6.91

 

11/26/2007

 

4,900

 

6.99

 

11/26/2007

 

5,000

 

6.995

 

11/26/2007

 

107,100

 

7

 

 

10



 

WCM TRANSACTIONS

Date

 

Number of Shares

 

Price Per Share

 

01/02/2008

 

20,300

 

4.03

 

01/02/2008

 

60,100

 

4.04

 

01/02/2008

 

700

 

4.045

 

01/02/2008

 

312,600

 

4.05

 

01/02/2008

 

10,500

 

4.06

 

01/02/2008

 

100

 

4.065

 

01/02/2008

 

33,000

 

4.07

 

01/02/2008

 

400

 

4.075

 

01/02/2008

 

38,800

 

4.08

 

01/02/2008

 

12,400

 

4.09

 

01/02/2008

 

400

 

4.095

 

01/02/2008

 

111,008

 

4.1

 

01/02/2008

 

136,592

 

4.11

 

01/02/2008

 

1,100

 

4.115

 

01/02/2008

 

54,100

 

4.12

 

01/02/2008

 

2,100

 

4.125

 

01/02/2008

 

101,400

 

4.13

 

01/02/2008

 

1,300

 

4.135

 

01/02/2008

 

47,400

 

4.14

 

01/02/2008

 

155,700

 

4.15

 

01/03/2008

 

1,400

 

3.84

 

01/03/2008

 

988,800

 

3.85

 

01/03/2008

 

1,100

 

3.855

 

01/03/2008

 

117,800

 

3.86

 

01/03/2008

 

3,100

 

3.865

 

01/03/2008

 

86,600

 

3.87

 

01/03/2008

 

168,411

 

3.88

 

01/03/2008

 

136,397

 

3.89

 

01/03/2008

 

238,392

 

3.9

 

01/03/2008

 

1,000

 

3.905

 

01/03/2008

 

30,900

 

3.91

 

01/03/2008

 

19,000

 

3.92

 

01/03/2008

 

15,000

 

3.93

 

01/03/2008

 

28,400

 

3.94

 

01/03/2008

 

5,300

 

3.95

 

 

11



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/03/2008

 

11,200

 

3.96

 

01/03/2008

 

73,900

 

3.97

 

01/03/2008

 

58,199

 

3.98

 

01/03/2008

 

73,101

 

3.99

 

01/03/2008

 

24,500

 

4

 

01/03/2008

 

21,800

 

4.01

 

01/03/2008

 

200

 

4.015

 

01/03/2008

 

19,200

 

4.02

 

01/03/2008

 

31,300

 

4.03

 

01/03/2008

 

200

 

4.035

 

01/03/2008

 

26,700

 

4.04

 

01/03/2008

 

91,800

 

4.05

 

01/03/2008

 

35,000

 

4.06

 

01/03/2008

 

400

 

4.065

 

01/03/2008

 

48,900

 

4.07

 

01/03/2008

 

39,800

 

4.08

 

01/03/2008

 

46,300

 

4.09

 

01/03/2008

 

32,300

 

4.1

 

01/03/2008

 

21,493

 

4.11

 

01/03/2008

 

32,324

 

4.12

 

01/03/2008

 

27,183

 

4.13

 

01/03/2008

 

7,400

 

4.14

 

01/03/2008

 

2,500

 

4.15

 

01/03/2008

 

200

 

4.16

 

01/03/2008

 

32,500

 

4.18

 

01/04/2008

 

3,300

 

3.61

 

01/04/2008

 

23,600

 

3.62

 

01/04/2008

 

59,600

 

3.63

 

01/04/2008

 

7,700

 

3.64

 

01/04/2008

 

800

 

3.65

 

01/04/2008

 

23,100

 

3.66

 

01/04/2008

 

13,800

 

3.67

 

01/04/2008

 

14,900

 

3.68

 

01/04/2008

 

45,800

 

3.69

 

01/04/2008

 

600

 

3.695

 

01/04/2008

 

126,200

 

3.7

 

01/04/2008

 

102,600

 

3.71

 

01/04/2008

 

41,400

 

3.72

 

01/04/2008

 

13,900

 

3.73

 

01/04/2008

 

10,245

 

3.74

 

01/04/2008

 

33,355

 

3.75

 

 

12



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/04/2008

 

23,300

 

3.76

 

01/04/2008

 

24,600

 

3.77

 

01/04/2008

 

79,500

 

3.78

 

01/04/2008

 

86,600

 

3.79

 

01/04/2008

 

67,900

 

3.8

 

01/04/2008

 

100

 

3.8076

 

01/04/2008

 

56,700

 

3.81

 

01/04/2008

 

100

 

3.811

 

01/04/2008

 

100

 

3.8119

 

01/04/2008

 

62,000

 

3.82

 

01/04/2008

 

28,200

 

3.83

 

01/04/2008

 

33,100

 

3.84

 

01/04/2008

 

100

 

3.8407

 

01/04/2008

 

45,940

 

3.85

 

01/04/2008

 

36,400

 

3.86

 

01/04/2008

 

100

 

3.8614

 

01/04/2008

 

1,100

 

3.865

 

01/04/2008

 

9,660

 

3.87

 

01/04/2008

 

3,900

 

3.88

 

01/04/2008

 

4,300

 

3.89

 

01/04/2008

 

43,500

 

3.9

 

01/04/2008

 

87,900

 

3.91

 

01/04/2008

 

60,400

 

3.92

 

01/04/2008

 

3,100

 

3.93

 

01/04/2008

 

20,500

 

3.94

 

01/07/2008

 

800

 

3.82

 

01/07/2008

 

1,200

 

3.83

 

01/07/2008

 

4,500

 

3.84

 

01/07/2008

 

3,800

 

3.85

 

01/07/2008

 

5,800

 

3.86

 

01/07/2008

 

13,900

 

3.87

 

01/07/2008

 

12,000

 

3.88

 

01/07/2008

 

7,700

 

3.89

 

01/07/2008

 

100

 

3.895

 

01/07/2008

 

57,100

 

3.9

 

01/07/2008

 

500

 

3.905

 

01/07/2008

 

15,700

 

3.91

 

01/07/2008

 

200

 

3.915

 

01/07/2008

 

31,700

 

3.92

 

01/07/2008

 

2,200

 

3.93

 

01/07/2008

 

6,100

 

3.94

 

 

13



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/07/2008

 

20,100

 

3.95

 

01/07/2008

 

600

 

3.955

 

01/07/2008

 

1,000

 

3.9575

 

01/07/2008

 

29,100

 

3.96

 

01/07/2008

 

20,500

 

3.97

 

01/07/2008

 

600

 

3.975

 

01/07/2008

 

1,300

 

3.9775

 

01/07/2008

 

37,209

 

3.98

 

01/07/2008

 

23,600

 

3.99

 

01/07/2008

 

100

 

3.9975

 

01/07/2008

 

42,541

 

4

 

01/07/2008

 

200

 

4.005

 

01/07/2008

 

103,750

 

4.01

 

01/07/2008

 

600

 

4.015

 

01/07/2008

 

53,000

 

4.02

 

01/07/2008

 

55,000

 

4.03

 

01/07/2008

 

100

 

4.0325

 

01/07/2008

 

62,900

 

4.04

 

01/07/2008

 

200

 

4.045

 

01/07/2008

 

10,400

 

4.05

 

01/07/2008

 

500

 

4.055

 

01/07/2008

 

48,000

 

4.06

 

01/07/2008

 

38,400

 

4.07

 

01/07/2008

 

1,000

 

4.0775

 

01/07/2008

 

65,200

 

4.08

 

01/07/2008

 

109,000

 

4.09

 

01/07/2008

 

61,400

 

4.1

 

01/07/2008

 

81,900

 

4.11

 

01/07/2008

 

300

 

4.1175

 

01/07/2008

 

30,000

 

4.12

 

01/07/2008

 

10,435

 

4.14

 

01/07/2008

 

35,665

 

4.15

 

01/07/2008

 

36,600

 

4.16

 

01/07/2008

 

5,500

 

4.17

 

01/08/2008

 

2,700

 

3.88

 

01/08/2008

 

600

 

3.885

 

01/08/2008

 

5,400

 

3.89

 

01/08/2008

 

23,500

 

3.9

 

01/08/2008

 

400

 

3.905

 

01/08/2008

 

5,700

 

3.91

 

01/08/2008

 

3,900

 

3.92

 

 

14



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/08/2008

 

3,800

 

3.93

 

01/08/2008

 

2,100

 

3.94

 

01/08/2008

 

3,500

 

3.95

 

01/08/2008

 

7,700

 

3.96

 

01/08/2008

 

100

 

3.97

 

01/08/2008

 

6,500

 

3.98

 

01/08/2008

 

2,500

 

3.99

 

01/08/2008

 

800

 

3.995

 

01/08/2008

 

17,500

 

4

 

01/08/2008

 

700

 

4.0075

 

01/08/2008

 

14,400

 

4.01

 

01/08/2008

 

7,800

 

4.02

 

01/08/2008

 

200

 

4.04

 

01/08/2008

 

500

 

4.05

 

01/08/2008

 

800

 

4.06

 

01/08/2008

 

1,500

 

4.07

 

01/08/2008

 

3,000

 

4.08

 

01/08/2008

 

100

 

4.09

 

01/08/2008

 

2,100

 

4.1

 

01/08/2008

 

2,700

 

4.11

 

01/08/2008

 

7,900

 

4.12

 

01/08/2008

 

6,700

 

4.13

 

01/08/2008

 

6,200

 

4.14

 

01/08/2008

 

1,700

 

4.15

 

01/08/2008

 

6,500

 

4.16

 

01/08/2008

 

1,300

 

4.165

 

01/08/2008

 

8,400

 

4.17

 

01/08/2008

 

1,200

 

4.175

 

01/08/2008

 

15,800

 

4.18

 

01/08/2008

 

35,700

 

4.19

 

01/08/2008

 

40,252

 

4.2

 

01/08/2008

 

44,000

 

4.21

 

01/08/2008

 

21,400

 

4.22

 

01/08/2008

 

1,300

 

4.225

 

01/08/2008

 

27,048

 

4.23

 

01/08/2008

 

21,100

 

4.24

 

01/08/2008

 

20,200

 

4.25

 

01/08/2008

 

39,300

 

4.26

 

01/08/2008

 

50,899

 

4.27

 

01/08/2008

 

69,751

 

4.28

 

01/08/2008

 

88,630

 

4.29

 

 

15



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/08/2008

 

70,020

 

4.3

 

01/08/2008

 

22,900

 

4.31

 

01/08/2008

 

200

 

4.3125

 

01/08/2008

 

100

 

4.315

 

01/08/2008

 

85,100

 

4.32

 

01/08/2008

 

700

 

4.3225

 

01/08/2008

 

116,600

 

4.33

 

01/08/2008

 

600

 

4.335

 

01/08/2008

 

110,325

 

4.34

 

01/08/2008

 

200

 

4.3425

 

01/08/2008

 

500

 

4.345

 

01/08/2008

 

166,100

 

4.35

 

01/08/2008

 

4,900

 

4.3525

 

01/08/2008

 

308,587

 

4.36

 

01/08/2008

 

1,400

 

4.365

 

01/08/2008

 

127,113

 

4.37

 

01/08/2008

 

3,900

 

4.375

 

01/08/2008

 

172,500

 

4.38

 

01/08/2008

 

1,400

 

4.385

 

01/08/2008

 

183,774

 

4.39

 

01/08/2008

 

100

 

4.3925

 

01/08/2008

 

700

 

4.395

 

01/08/2008

 

142,801

 

4.4

 

01/08/2008

 

100

 

4.405

 

01/08/2008

 

56,000

 

4.41

 

01/08/2008

 

29,300

 

4.42

 

01/08/2008

 

6,200

 

4.43

 

01/08/2008

 

2,100

 

4.44

 

01/09/2008

 

187,500

 

4

 

01/09/2008

 

69,375

 

4.05

 

01/09/2008

 

225

 

4.0525

 

01/09/2008

 

450

 

4.055

 

01/09/2008

 

11,775

 

4.06

 

01/09/2008

 

7,950

 

4.07

 

01/09/2008

 

1,275

 

4.075

 

01/09/2008

 

12,075

 

4.08

 

01/09/2008

 

75

 

4.09

 

01/09/2008

 

1,425

 

4.1

 

01/09/2008

 

5,250

 

4.11

 

01/09/2008

 

75

 

4.115

 

01/09/2008

 

14,775

 

4.12

 

 

16



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/09/2008

 

1,800

 

4.125

 

01/09/2008

 

36,450

 

4.13

 

01/09/2008

 

900

 

4.135

 

01/09/2008

 

45,600

 

4.14

 

01/09/2008

 

2,175

 

4.145

 

01/09/2008

 

86,175

 

4.15

 

01/09/2008

 

450

 

4.155

 

01/09/2008

 

7,425

 

4.16

 

01/09/2008

 

450

 

4.165

 

01/09/2008

 

35,250

 

4.17

 

01/09/2008

 

1,800

 

4.175

 

01/09/2008

 

124,425

 

4.18

 

01/09/2008

 

1,500

 

4.185

 

01/09/2008

 

18,975

 

4.19

 

01/09/2008

 

19,050

 

4.2

 

01/09/2008

 

13,800

 

4.21

 

01/09/2008

 

3,975

 

4.22

 

01/09/2008

 

3,075

 

4.23

 

01/09/2008

 

5,925

 

4.24

 

01/09/2008

 

3,150

 

4.25

 

01/09/2008

 

2,100

 

4.26

 

01/09/2008

 

525

 

4.265

 

01/09/2008

 

9,225

 

4.27

 

01/09/2008

 

225

 

4.275

 

01/09/2008

 

9,188

 

4.28

 

01/09/2008

 

4,162

 

4.29

 

01/10/2008

 

150

 

3.9125

 

01/10/2008

 

5,550

 

3.92

 

01/10/2008

 

25,688

 

3.93

 

01/10/2008

 

24,900

 

3.94

 

01/10/2008

 

375

 

3.945

 

01/10/2008

 

37,238

 

3.95

 

01/10/2008

 

11,700

 

3.96

 

01/10/2008

 

19,050

 

3.97

 

01/10/2008

 

150

 

3.975

 

01/10/2008

 

54,975

 

3.98

 

01/10/2008

 

23,100

 

3.99

 

01/10/2008

 

22,125

 

4

 

01/11/2008

 

18,750

 

4.1

 

01/14/2008

 

850

 

3.9725

 

01/14/2008

 

400

 

3.975

 

 

17



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/14/2008

 

65,800

 

3.98

 

01/14/2008

 

750

 

3.985

 

01/14/2008

 

3,608

 

3.9875

 

01/14/2008

 

50,388

 

3.99

 

01/14/2008

 

2,800

 

3.995

 

01/14/2008

 

7,800

 

3.9975

 

01/14/2008

 

142,756

 

4

 

01/14/2008

 

50

 

4.0025

 

01/14/2008

 

950

 

4.005

 

01/14/2008

 

14,850

 

4.0075

 

01/14/2008

 

44,636

 

4.01

 

01/14/2008

 

1,850

 

4.015

 

01/14/2008

 

16,350

 

4.0175

 

01/14/2008

 

31,700

 

4.02

 

01/14/2008

 

600

 

4.025

 

01/14/2008

 

21,500

 

4.03

 

01/14/2008

 

50

 

4.0325

 

01/14/2008

 

3,050

 

4.035

 

01/14/2008

 

13,950

 

4.0375

 

01/14/2008

 

34,515

 

4.04

 

01/14/2008

 

600

 

4.045

 

01/14/2008

 

9,700

 

4.05

 

01/14/2008

 

4,900

 

4.06

 

01/14/2008

 

2,900

 

4.07

 

01/14/2008

 

450

 

4.075

 

01/14/2008

 

6,500

 

4.0775

 

01/14/2008

 

6,200

 

4.08

 

01/14/2008

 

600

 

4.085

 

01/14/2008

 

2,300

 

4.0875

 

01/14/2008

 

7,500

 

4.09

 

01/14/2008

 

24,150

 

4.1

 

01/15/2008

 

153

 

3.7

 

01/15/2008

 

76

 

3.7025

 

01/15/2008

 

1,185

 

3.705

 

01/15/2008

 

1,491

 

3.7075

 

01/15/2008

 

17,130

 

3.71

 

01/15/2008

 

688

 

3.715

 

01/15/2008

 

382

 

3.7175

 

01/15/2008

 

8,335

 

3.72

 

01/15/2008

 

841

 

3.725

 

01/15/2008

 

4,588

 

3.7275

 

 

18



 

WCM TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/15/2008

 

8,144

 

3.73

 

01/15/2008

 

1,108

 

3.8

 

01/15/2008

 

344

 

3.805

 

01/15/2008

 

230

 

3.8075

 

01/15/2008

 

7,877

 

3.81

 

01/15/2008

 

115

 

3.8175

 

01/15/2008

 

2,332

 

3.82

 

01/15/2008

 

459

 

3.825

 

01/15/2008

 

173

 

3.8275

 

01/15/2008

 

16,842

 

3.83

 

01/15/2008

 

459

 

3.835

 

01/15/2008

 

3,671

 

3.8375

 

01/15/2008

 

4,627

 

3.84

 

 

As of January 22, 2008, the Trust owned 1,000,000 shares of Common Stock.  The following transactions were effected by the Trust during the sixty days preceding January 22, 2008:

 

HKW TRUST TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/09/2008

 

62,500

 

4

 

01/09/2008

 

23,125

 

4.05

 

01/09/2008

 

75

 

4.0525

 

01/09/2008

 

150

 

4.055

 

01/09/2008

 

3,925

 

4.06

 

01/09/2008

 

2,650

 

4.07

 

01/09/2008

 

425

 

4.075

 

01/09/2008

 

4,025

 

4.08

 

01/09/2008

 

25

 

4.09

 

01/09/2008

 

475

 

4.1

 

01/09/2008

 

1,750

 

4.11

 

01/09/2008

 

25

 

4.115

 

01/09/2008

 

4,925

 

4.12

 

01/09/2008

 

600

 

4.125

 

01/09/2008

 

12,150

 

4.13

 

01/09/2008

 

300

 

4.135

 

01/09/2008

 

15,200

 

4.14

 

01/09/2008

 

725

 

4.145

 

01/09/2008

 

28,725

 

4.15

 

01/09/2008

 

150

 

4.155

 

01/09/2008

 

2,475

 

4.16

 

01/09/2008

 

150

 

4.165

 

 

19



 

HKW TRUST TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/09/2008

 

11,750

 

4.17

 

01/09/2008

 

600

 

4.175

 

01/09/2008

 

41,475

 

4.18

 

01/09/2008

 

500

 

4.185

 

01/09/2008

 

6,325

 

4.19

 

01/09/2008

 

6,350

 

4.2

 

01/09/2008

 

4,600

 

4.21

 

01/09/2008

 

1,325

 

4.22

 

01/09/2008

 

1,025

 

4.23

 

01/09/2008

 

1,975

 

4.24

 

01/09/2008

 

1,050

 

4.25

 

01/09/2008

 

700

 

4.26

 

01/09/2008

 

175

 

4.265

 

01/09/2008

 

3,075

 

4.27

 

01/09/2008

 

75

 

4.275

 

01/09/2008

 

3,061

 

4.28

 

01/09/2008

 

1,389

 

4.29

 

01/10/2008

 

50

 

3.9125

 

01/10/2008

 

1,850

 

3.92

 

01/10/2008

 

8,563

 

3.93

 

01/10/2008

 

8,300

 

3.94

 

01/10/2008

 

125

 

3.945

 

01/10/2008

 

12,413

 

3.95

 

01/10/2008

 

3,900

 

3.96

 

01/10/2008

 

6,350

 

3.97

 

01/10/2008

 

50

 

3.975

 

01/10/2008

 

18,325

 

3.98

 

01/10/2008

 

7,700

 

3.99

 

01/10/2008

 

7,375

 

4

 

01/11/2008

 

18,750

 

4.1

 

01/14/2008

 

850

 

3.9725

 

01/14/2008

 

400

 

3.975

 

01/14/2008

 

65,800

 

3.98

 

01/14/2008

 

750

 

3.985

 

01/14/2008

 

3,608

 

3.9875

 

01/14/2008

 

50,388

 

3.99

 

01/14/2008

 

2,800

 

3.995

 

01/14/2008

 

7,800

 

3.9975

 

01/14/2008

 

142,756

 

4

 

01/14/2008

 

50

 

4.0025

 

01/14/2008

 

950

 

4.005

 

 

20



 

HKW TRUST TRANSACTIONS

 

Date

 

Number of Shares

 

Price Per Share

 

01/14/2008

 

14,850

 

4.0075

 

01/14/2008

 

44,636

 

4.01

 

01/14/2008

 

1,850

 

4.015

 

01/14/2008

 

16,350

 

4.0175

 

01/14/2008

 

31,700

 

4.02

 

01/14/2008

 

600

 

4.025

 

01/14/2008

 

21,500

 

4.03

 

01/14/2008

 

50

 

4.0325

 

01/14/2008

 

3,050

 

4.035

 

01/14/2008

 

13,950

 

4.0375

 

01/14/2008

 

34,515

 

4.04

 

01/14/2008

 

600

 

4.045

 

01/14/2008

 

9,700

 

4.05

 

01/14/2008

 

4,900

 

4.06

 

01/14/2008

 

2,900

 

4.07

 

01/14/2008

 

450

 

4.075

 

01/14/2008

 

6,500

 

4.0775

 

01/14/2008

 

6,200

 

4.08

 

01/14/2008

 

600

 

4.085

 

01/14/2008

 

2,300

 

4.0875

 

01/14/2008

 

7,500

 

4.09

 

01/14/2008

 

24,150

 

4.1

 

01/15/2008

 

247

 

3.7

 

01/15/2008

 

124

 

3.7025

 

01/15/2008

 

1,915

 

3.705

 

01/15/2008

 

2,409

 

3.7075

 

01/15/2008

 

27,670

 

3.71

 

01/15/2008

 

1,112

 

3.715

 

01/15/2008

 

618

 

3.7175

 

01/15/2008

 

13,465

 

3.72

 

01/15/2008

 

1,359

 

3.725

 

01/15/2008

 

7,412

 

3.7275

 

01/15/2008

 

13,156

 

3.73

 

01/15/2008

 

1,792

 

3.8

 

01/15/2008

 

556

 

3.805

 

01/15/2008

 

370

 

3.8075

 

01/15/2008

 

12,723

 

3.81

 

01/15/2008

 

185

 

3.8175

 

01/15/2008

 

3,768

 

3.82

 

01/15/2008

 

741

 

3.825

 

01/15/2008

 

279

 

3.8275

 

01/15/2008

 

27,206

 

3.83

 

01/15/2008

 

741

 

3.835

 

01/15/2008

 

5,929

 

3.8375

 

01/15/2008

 

7,473

 

3.84

 

 

21



 

Index of Exhibits.

 

Exhibit 1

 

Joint Filing Agreement, dated as of January 22, 2008, by and among Wattles Capital Management, LLC, the HKW Trust and Mark J. Wattles

 

22