UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5 )*
DDL Electronics. Inc.
--------------------------------
(Name of Issuer)
Common Stock (Par value $.01)
--------------------------------
(Title of Class of Securities)
233167 105
--------------------------------
(CUSIP Number)
Ronald J. Vannuki, 100 Wilshire Blvd., 15th Floor, Santa Monica, Ca. 90401
(310) 917-6600
- -----------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
September 30, 1997
-------------------------------------------------------
(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 which is the subject of this Schedule l3D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies should
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).
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Fortuna Investment Partners, 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
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
California
7. Number of shares beneficially owned by each reporting person with sole
voting power
0
8. Number of shares beneficially owned by each reporting person with shared
voting power
825,630
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
0
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
825,630
11. Aggregate amount beneficially owned by each reporting person.
825,630
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
3.4%
14. Type of reporting person
PN
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Fortuna Capital Management, Inc.
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
N/A
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
California
7. Number of shares beneficially owned by each reporting person with sole
voting power
0
8. Number of shares beneficially owned by each reporting person with shared
voting power
975,630
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
0
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
975,630
11. Aggregate amount beneficially owned by each reporting person.
975,630
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
3.9%
14. Type of reporting person
CO
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Ronald J. Vannuki
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
PF (with respect to shares over which Mr. Vannuki has sole dispositive
power)
N/A (with respect to all other shares in which Mr. Vannuki has a
beneficial interest)
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
USA
7. Number of shares beneficially owned by each reporting person with sole
voting power
3,500
8. Number of shares beneficially owned by each reporting person with shared
voting power
1,209,357
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
3,500
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
1,209,357
11. Aggregate amount beneficially owned by each reporting person.
1,212,857
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
4.9%
14. Type of reporting person
IN
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Richard Fechtor
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
PF
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
USA
7. Number of shares beneficially owned by each reporting person with sole
voting power
578,550
8. Number of shares beneficially owned by each reporting person with shared
voting power
0
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
578,550
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
0
11. Aggregate amount beneficially owned by each reporting person.
578,550
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
2.4%
14. Type of reporting person
IN
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Fortuna Advisors, Inc.
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
N/A
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
California
7. Number of shares beneficially owned by each reporting person with sole
voting power
0
8. Number of shares beneficially owned by each reporting person with shared
voting power
0
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
0
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
932,254
11. Aggregate amount beneficially owned by each reporting person.
932,254
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
3.8%
14. Type of reporting person
CO
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Karen B. Brenner
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
PF (with respect to shares over which Ms. Brenner has sole dispositive
power)
N/A (with respect to all other shares in which Ms. Brenner has a
beneficial interest)
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
USA
7. Number of shares beneficially owned by each reporting person with sole
voting power
178,400
8. Number of shares beneficially owned by each reporting person with shared
voting power
0
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
178,400
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
932,254
11. Aggregate amount beneficially owned by each reporting person.
1,110,654
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
4.5%
14. Type of reporting person
IN
<PAGE>
Schedule 13D
CUSIP No. 233167 105
1. Name of reporting person
Joseph Vannuki
2. Check the appropriate box if a member of a group (a)[ ] (b)[x]
3. SEC use only.
4. Source of funds.
PF
5. Check box if disclosure of legal proceedings is required pursuant to
Items 2(d) or 2(e) [ ]
6. Citizenship or place of organization
USA
7. Number of shares beneficially owned by each reporting person with sole
voting power
64,409
8. Number of shares beneficially owned by each reporting person with shared
voting power
0
9. Number of shares beneficially owned by each reporting person with sole
dispositive power.
64,409
10. Number of shares beneficially owned by each reporting person with shared
dispositive power
0
11. Aggregate amount beneficially owned by each reporting person.
64,409
12. Check box if the aggregate amount in Row 11 excludes certain shares [ ]
13. Percent of class presented by amount in Row 11
0.3%
14. Type of reporting person
IN
<PAGE>
Item 1. Security and Issuer
This schedule relates to shares of common stock, $.01 par value ("Common
Stock") of DDL Electronics, Inc., a Delaware corporation (the "Company"),
whose principal executive offices are located at 2151 Anchor Court, Newbury
Park, CA 91320; the Company's telephone number at that location is (805) 376-
9415. The Common Stock trades on the NYSE. The number of issued and
outstanding shares of Common Stock as provided by the Company on October 22,
1997 is 24,593,858.
Item 2. Identity and Background.
(a) This statement is filed jointly by the following persons to
reflect the dissolution of the "group"(the "Group") with respect to which this
Schedule 13D was originally filed: (i) Fortuna Investment Partners, L.P., a
California limited partnership ("Fortuna Investment Partners") with respect to
shares of Common Stock held or beneficially owned by the partnership;
(ii)Fortuna Capital Management, Inc.("Fortuna Capital Management") as general
partner and discretionary investment adviser of Fortuna Investment Partners
and with respect to shares of Common Stock held or beneficially owned by the
company; (iii) Ronald J. Vannuki as sole shareholder and president of Fortuna
Capital Management; (iv)Richard Fechtor with respect to shares of Common Stock
held or beneficially owned by him; (v) Fortuna Advisors, Inc. ("Fortuna
Advisors")as discretionary investment adviser with respect to shares of Common
Stock held or beneficially owned by its advisory clients; (vi) Karen Beth
Brenner with respect to shares of Common Stock held or beneficially owned by
her and as sole shareholder and president of Fortuna Advisors; and (vii)
Joseph Vannuki with respect to shares of Common Stock held or beneficially
owned by him. The foregoing persons hereinafter sometimes are referred to
collectively as the "Reporting Persons." Each of the Reporting Persons hereby
disclaims membership in the Group, and by the filing intends to terminate the
Group's Schedule 13D filing requirements under Section 13(d) of the Securities
Act of 1934, as amended.
(b) The principal business address of (i)Fortuna Investment Partners;
(ii)Fortuna Capital Management; and (iii) Ronald J. Vannuki is 100 Wilshire
Boulevard, Fifteenth Floor, Santa Monica, California 90401. The principal
business address of (i)Fortuna Advisors and (ii)Karen B. Brenner is 1300
Bristol Street North, Suite 230, Newport Beach, California 92660. The
principal business address of Richard Fechtor is 225 Franklin Street,
Twentieth Floor, Boston, Massachusetts 02110. The principal business address
of Joseph Vannuki is 773 Ron Lee Lane, Youngstown, Ohio 44512.
(c) The business of (i) Fortuna Investment Partners is that of a
private investment partnership engaging in the purchase and sale of securities
for investment for its own account; (ii)Fortuna Capital Management is to serve
as the general partner of Fortuna Investment Partners; and Ronald J. Vannuki
is to serve as president of Fortuna Capital Management and as registered
representative with securities brokerage firm.
The business of Richard Fechtor is a registered representative and
director of Fechtor, Detwiler & Co., a securities brokerage firm.
The business of (i)Fortuna advisors is the provision of
discretionary investment management services to clients; and (ii) Karen B.
Brenner is to serve as president of Fortuna Advisors.
Joseph Vannuki is retired.
(d) None of the Reporting Persons has, during the past five years, been
convicted in any criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons has, during the past five years, been
a party to civil proceeding of a judicial or administrative body of competent
jurisdiction which resulted in 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) (i)Fortuna Investment Partners is a California limited partnership;
(ii)Fortuna Capital Management is a California corporation; (iii)Ronald J.
Vannuki is a United States citizen; (iv)Richard Fechtor is a United States
citizen; (v) Fortuna Advisors is a California corporation; (vi)Karen B.
Brenner is a United States citizen; and (vii) Joseph Vannuki is a United
States citizen.
Item 3. Source and Amount of Funds or Other Consideration.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Fortuna Investment Partners is
$902,860. The source of funds for this consideration was working capital.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Fortuna Capital Management is $0.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Ronald J. Vannuki is $3,560. The
source of funds for this consideration was personal funds.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Richard Fechtor is $557,977. The
source of funds for this consideration was personal funds.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Fortuna Advisors is $1,253,941.
The source of funds for this consideration was Fortuna Advisor's clients'
personal funds.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Karen B. Brenner is $47,600. The
source of funds for this consideration was $33,360 in personal funds and
$14,240 was a gift of 16,000 shares.
The net investment cost (including commissions, if any) of the
shares of Common Stock beneficially owned by Joseph Vannuki is $116,306. The
source of funds for this consideration was personal funds.
Item 4. Purpose of Transaction
The purpose of the transaction leading to the filing of this
Amendment to Schedule 13D is the dissolution of the group that had been
formed to allow the Reporting Persons to acquire sufficient shares in
order to gain participation in the active management of the Company and
to gain representation on the Company's Board of Directors. The prior
agreement allowed each Reporting Person to make further purchases of
shares of Common Stock from time to time and to dispose of any or all
shares of Stock held by such person at any time. Such group was
dissolved on or about September 30, 1997.
Item 5. Interest in Securities of the Issuer
(a) As of the date hereof:
(i) Fortuna Investment Partners beneficially owns 825,630
shares of Common Stock which includes 420 convertible subordinated
debentures convertible into 39,530 shares of Common Stock. Fortuna
Investment Partners is the beneficial owner of 3.4% of the Common Stock.
(ii) Fortuna Capital Management, as general partner and
discretionary investment adviser to Fortuna Investment Partners
beneficially owns 975,630 shares of Common Stock which includes 420
convertible subordinated debentures convertible into 39,530 shares of
Common Stock and 150,000 warrants convertible into 150,000 shares of
stock. Fortuna Capital Management is the beneficial owner of 3.9% of
the Common Stock.
(iii) Ronald J. Vannuki, as sole shareholder and president of
Fortuna Capital Management, as a registered representative with
discretionary authority over a customer's account and as a direct owner
of shares of Common Stock beneficially owns 1,362,857 shares of Common
Stock which includes 420 convertible subordinated debentures convertible
into 39,530 shares of Common Stock. Ronald J. Vannuki is the beneficial
owner of 4.9% of the Common Stock.
(iv) Richard Fechtor beneficially owns 578,550 shares of
Common Stock. Mr. Fechtor is the beneficial owner of 2.4% of the Common
Stock.
(v) Fortuna Advisors as discretionary investment adviser to
clients whose accounts hold the Common Stock beneficially owns 932,254
shares of Common Stock which includes 282 convertible subordinated
debentures convertible into 26,111 shares of Common Stock and 75,000
warrants convertible into 75,000 shares of stock. Fortuna Advisors is
the beneficial owner of 3.9% of the Common Stock.
(vii) Karen B. Brenner, as sole shareholder and president of
Fortuna Advisors and as a direct owner of shares of Common Stock
beneficially owns 1,110,654 shares of Common Stock which includes 282
convertible subordinated debentures convertible into 26,111 shares of
Common Stock, 75,000 warrants convertible into 75,000 shares of stock
and 60,000 options convertible into 60,000 shares of Common Stock.
Karen B. Brenner is the beneficial owner of 4.5% of the Common Stock.
The Reporting Persons in the aggregate may be deemed to own an
aggregate of 12.5% of the Common Stock. However, effective September
30, 1997, the Reporting Persons have dissolved the group previously
identified in this Schedule 13D. this filing represents the former
group's final filing. Any further required filings, if any, will be
made individually by the former members of such group.
(b)
No. of Shares Percentage
Beneficially Owner of Class Sole Power
------------------ ----------- ----------
Fortuna Investment Partners 825,630 3.4% 0
Fortuna Capital Management 975,630 3.9% 0
Ronald J. Vannuki 1,212,857 4.9% 3,500
Richard Fechtor 578,550 2.4% 578,550
Fortuna Advisors 932,254 3.9% 0
Karen B. Brenner 1,110,654 4.5% 178,400
Joseph Vannuki 64,409 0.3% 64,409
(c) The trading dates, number of shares purchased or sold and
price per share for all transactions by the Reporting Persons since
October 2, 1997 are set forth on Schedule A hereto. All such
transactions, unless otherwise noted, were open market transactions and
were effected on the NYSE. No other transactions were effected by the
Reporting Persons during such period.
(d) No person other than each respective owner of Common Stock
referred to herein is known to have the right to receive or the power to
direct the receipt of dividends from or the proceeds of sale of such
Common Stock.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Fortuna Capital Management has provided various consulting and
financial advisory services for which it received 150,000 warrants,
which are convertible into 150,000 shares of Common Stock, as
compensation. The warrants have not been exercised.
Item 7. Material to Be Filed as Exhibits.
No new exhibits. Exhibits previously file by the Reporting
Persons are incorporated herein by this reference.
Agreement
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, information set forth in this statement is true, complete and
correct.
December 2, 1997
- -------------------
Date
Fortuna Investment Partners, L.P.
By: Fortuna Capital Management, Inc.
its General Partner
By: /s/ Ronald J. Vannuki
-------------------------
Ronald J. Vannuki, President
Fortuna Capital Management, Inc.
By: /s/ Ronald J. Vannuki
-------------------------
Ronald J. Vannuki, President
/s/ Ronald J. Vannuki
- -------------------------
Ronald J. Vannuki
Individual
/s/ Richard Fechtor
- -----------------------
Richard Fechtor
Individual
Fortuna Advisors, Inc.
By: /s/ Karen B. Brenner
------------------------
Karen B. Brenner, President
/s/ Karen B. Brenner
- ----------------------
Karen B. Brenner
Individual
/s/ Joseph Vannuki
- -------------------------
Joseph Vannuki
Individual
<PAGE>
Schedule A
Transactions from 10/2/96
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------
Broker Effective
Party Date Bought (Sold) Price Per Share Transaction
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Fortuna Advisors 10/02/96 (5,500) 1.25 Bear Stearns
Fortuna Advisors 11/05/96 (10,000) 0.97 Bear Stearns
Fortuna Advisors 11/05/96 (20,000) 0.97 Bear Stearns
Fortuna Advisors 11/05/96 (20,000) 0.97 Bear Stearns
Fortuna Advisors 11/06/96 (2,000) 0.999 Bear Stearns
Fortuna Advisors 11/07/96 (1,000) 0.967 Bear Stearns
Fortuna Advisors 11/08/96 (1,000) 0.967 Bear Stearns
Fortuna Advisors 11/11/96 (1,000) 0.967 Bear Stearns
Fortuna Advisors 11/12/96 (1,000) 0.977 Bear Stearns
Fortuna Advisors 11/13/96 (1,000) 0.997 Bear Stearns
Fortuna Advisors 11/15/96 (1,000) 0.997 Bear Stearns
Fortuna Advisors 11/18/96 (1,000) 0.967 Bear Stearns
Fortuna Advisors 11/19/96 (1,000) 0.997 Bear Stearns
Fortuna Advisors 11/20/96 (1,000) 0.997 Bear Stearns
Fortuna Investment Partners 11/22/96 (10,000) 1.00 Bear Stearns
Fechtor 11/23/96 (5,000) 0.94 Fechtor, Detwiler
Fortuna Investment Partners 12/18/96 (15,000) 0.98 Bear Stearns
Fortuna Advisors 12/20/96 (5,000) 0.999 Bear Stearns
Fechtor 12/23/96 (5,000) 0.94 Fechtor, Detwiler
Fortuna Advisors 12/30/96 (81,500) Trf. to Client
Fortuna Advisors 12/30/96 (26,000) Trf. to Client
Fortuna Advisors 12/30/96 (182,000) Trf. to Client
Fortuna Investment Partners 12/31/96 (35,000) 0.91 Bear Stearns
Fortuna Investment Partners 01/03/97 (25,000) 0.96 Bear Stearns
Fortuna Advisors 01/15/97 11,500 Trf. from Client
Fortuna Investment Partners 01/15/97 (10,000) 0.92 Bear Stearns
Fortuna Investment Partners 01/16/97 (10,000) 0.92 Bear Stearns
Fortuna Investment Partners 01/29/97 (20,900) 0.94 Bear Stearns
Fortuna Investment Partners 02/04/97 (20,000) 0.92 Bear Stearns
Fortuna Investment Partners 02/25/97 (25,000) 0.85 Bear Stearns
Fortuna Advisors 02/28/97 (100,000)bonds Trf. to Client
Fortuna Advisors 02/28/97 (112,000)bonds Trf. to Client
Brenner 04/03/97 1,000 0.965 Bear Stearns
Fortuna Advisors 04/03/97 5,000 0.943 Bear Stearns
Fortuna Advisors 04/03/97 5,000 0.943 Bear Stearns
Fortuna Advisors 04/10/97 (500) 0.935 Bear Stearns
Fortuna Investment Partners 04/10/97 (10,000) 0.93 Bear Stearns
R. Vannuki 04/21/97 (4,000) 1.00 Bear Stearns
R. Vannuki 04/24/97 (18,000) 1.00 Bear Stearns
Fortuna Investment Partners 05/15/97 (4,000) 1.10 Bear Stearns
Fortuna Investment Partners 05/16/97 (30,000) 1.10 Bear Stearns
Fortuna Investment Partners 05/19/97 (22,000) 1.22 Bear Stearns
Fortuna Investment Partners 05/22/97 (30,000) 1.35 Bear Stearns
Fortuna Investment Partners 05/23/97 (2,500) 1.47 Bear Stearns
Fortuna Investment Partners 05/27/97 (22,200) 1.47 Bear Stearns
Fortuna Investment Partners 05/28/97 (25,300) 1.47 Bear Stearns
Fortuna Advisors 06/01/97 (36,316) Trf. to Client
R. Vannuki 06/10/97 (5,000) 1.24 Bear Stearns
Fechtor 06/17/97 150,000 0.75 private placement
R. Vannuki 06/17/97 (10,000) 1.16 Bear Stearns
Fechtor 07/10/97 (4,500) 1.06 Fechtor, Detwiler
Fechtor 07/11/97 (3,000) 1.13 Fechtor, Detwiler
Fortuna Investment Partners 08/04/97 (20,000) 0.92 Bear Stearns
R. Vannuki 08/05/97 (3,000) 0.92 Bear Stearns
R. Vannuki 08/06/97 (1,200) 0.98 Bear Stearns
Fortuna Investment Partners 08/14/97 (25,000) 0.82 Bear Stearns
Fortuna Investment Partners 08/18/97 (10,100) 0.78 Bear Stearns
R. Vannuki 08/19/97 (15,000) 0.79 Bear Stearns
Fortuna Investment Partners 08/20/97 (50,000) 0.79 Bear Stearns
Fortuna Investment Partners 08/21/97 (15,160) 0.83 Bear Stearns
R. Vannuki 08/22/97 (10,000) 0.76 Bear Stearns
Fortuna Investment Partners 08/25/97 (10,000) 0.89 Bear Stearns
R. Vannuki 08/25/97 (10,000) 0.92 Bear Stearns
Fortuna Investment Partners 08/29/97 (10,000) 1.00 Bear Stearns
R. Vannuki 09/11/97 (20,000) 0.92 Bear Stearns
Fortuna Investment Partners 10/28/97 (15,000) 0.77 Bear Stearns
Fortuna Investment Partners 10/29/97 (10,000) 0.79 Bear Stearns
Fortuna Investment Partners 10/30/97 (10,000) 0.80 Bear Stearns
R. Vannuki 10/31/97 (30,000) 0.79 Bear Stearns
R. Vannuki 11/04/97 (20,000) 0.79 Bear Stearns
R. Vannuki 11/04/97 (19,000) 0.79 Bear Stearns
Fortuna Investment Partners 11/06/97 (9,600) 0.82 Bear Stearns
Fortuna Investment Partners 11/07/97 (10,000) 0.89 Bear Stearns
Fortuna Investment Partners 11/10/97 (10,000) 0.89 Bear Stearns
Fortuna Investment Partners 11/12/97 (10,000) 0.82 Bear Stearns
</TABLE>
* The purchases were transfers (or sales) from Brenner's husband's brokerage
account.
