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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
IMAGING TECHNOLOGIES CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
45244U104
(CUSIP Number)
E.C. Morgan
Morgan Capital Management
One Embarcadero Center, Suite 2830
San Francisco, California 94111
(415) 788-3232
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 17, 1998
(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 13D, and is filing this
schedule because of Rule 13d-l(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the statement |_|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-l(a) 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
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 2 of 17 Pages
- ------------------- ------------------
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
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CUSIP NO. 95244U104 Page 3 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ellison Christopher Morgan, SSN ###-##-####
Morgan Capital Management
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
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
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 29,340
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 29,340
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,340
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.23%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 4 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ellison Carl Morgan, SSN ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
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
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 100,000
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 100,000
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.78%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 5 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MCM Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS *
WC;BK
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 760,000
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
760,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
760,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.94%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 6 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ellison C. Morgan Revocable Trust
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
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
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 262,500
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
262,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
262,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.05%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 7 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2030 Investors, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS *
WK
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 61,000
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
61,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.48%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 8 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2030 Investors 401K
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS *
BK
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 32,030
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
32,030
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,030
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 9 of 17 Pages
- ------------------- ------------------
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
This statement is the second amendment to a statement on Schedule 13D
filed in respect of the Common Stock of Imaging Technologies Corporation, a
Delaware corporation (the "Company"), formerly named "PCPI Technologies", by a
group currently consisting of Ellison C. Morgan, MCM Partners, L.P. ("MCM
Partners"), Ellison C. Morgan Revocable Trust ("E.C. Morgan Revocable Trust"),
2030 Investors LLC ("2030 Investors"), 2030 Investors 401K ("2030 Investors
401K") and Ellison Carl Morgan, as trustee (collectively, the "Reporting
Persons").
Item 1. Security and Issuer.
Common Stock, par value $.01 per share
Imaging Technologies Corporation
11031 Via Frontera
San Diego, California 92127
Item 2. Identity and Background.
Name: MCM Partners, L.P.
Place of Organization: California
Principal Business: Investments
Address of Principal
Business and Office: One Embarcadero Center, Suite 2830
San Francisco, CA 94111
Criminal Proceedings: None
Applicable Civil, Judicial,
or Administrative
Proceedings: None
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 10 of 17 Pages
- ------------------- ------------------
Name: Ellison C. Morgan Revocable Trust
Place of Organization: Oregon
Principal Business: Investments
Address of Principal
Business and Office: 121 S.W. Salmon Street, Suite 1400
Portland, OR 97204
Criminal Proceedings: None
Applicable Civil, Judicial,
or Administrative
Proceedings: None
Citizenship: USA
Name: 2030 Investors, LLC
Place of Organization: Oregon
Principal Business: Investments
Address of Principal
Business and Office: 121 S.W. Salmon Street, Suite 1400
Portland, OR 97204
Criminal Proceedings: None
Applicable Civil, Judicial,
or Administrative
Proceedings: None
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 11 of 17 Pages
- ------------------- ------------------
Name: 2030 Investors 401K
Place of Organization: Oregon
Principal Business: Investments
Address of Principal
Business and Office: 121 S.W. Salmon Street, Suite 1400
Portland, OR 97204
Criminal Proceedings: None
Applicable Civil, Judicial,
or Administrative
Proceedings: None
Ellison Christopher Morgan and Morgan Capital Management are the
general partners of MCM Partners, L.P. Ellison C. Morgan is the sole
stockholder, director and officer of Morgan Capital Management.
Ellison Carl Morgan is the sole trustee of the Ellison C. Morgan
Revocable Trust dated 9/9/82 (the "Trust"). The business address of Ellison Carl
Morgan is 121 S.W. Salmon Street, Suite 1400, Portland, Oregon 97204. Mr.
Morgan's present principal occupation is President of 2030 Investors LLC, 121
S.W. Salmon Street, Suite 1400, Portland, Oregon 97204. Except as described
below, none of the reporting parties has been, during the past five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is 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.
Ellison Christopher Morgan and Ellison Carl Morgan are citizens of the United
States.
On September 30, 1998, Ellison Carl Morgan entered into a settlement
agreement with the Securities and Exchange Commission (the "Commission")
pursuant to which, without admitting or denying the Commission's allegations,
Mr. Morgan consented to the issuance of a permanent injunction prohibiting him
from violating in the future Section 10(b) of the Securities Exchange Act of
1934 and Rule 10b-5 thereunder. The Commission alleged Mr. Morgan
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 12 of 17 Pages
- ------------------- ------------------
engaged in one or more transactions in 1996 involving the securities of Portland
General Corporation while in possession of material non-public information
regarding its pending acquisition by Enron Group. In settlement of the
Commission's lawsuit, Mr. Morgan also agreed to disgorge certain trading
profits, and pay civil penalties and pre-judgment interest, in an aggregate
amount of $229,808.02. Securities and Exchange Commission v. Ellison C. Morgan
and Peter J. Brix, United States District Court for the Southern District of New
York, Civil Action No. 98 CIV 6905 (DC).
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate amount of funds used by Morgan Capital Management to
purchase 29,300 shares was approximately $244,803 and was derived from working
capital.
The aggregate amount of funds used by MCM Partners, L.P. to purchase
the 760,000 shares of Common Stock owned by it was derived from partnership
funds and borrowings from the United States National Bank of Oregon.
The aggregate net amount of funds used by Ellison C. Morgan Revocable
Trust to purchase the 262,500 shares of Common Stock owned by it was
approximately $792,385. Such amount was derived from derived from trust funds
contributed by Ellison Carl Morgan.
The aggregate net amount of funds used by 2030 Investors LLC to
purchase the 61,000 shares of Common Stock owned by it was approximately
$457,074. Such amount was derived from working capital.
The aggregate amount of funds used by 2030 Investors 401K to purchase
the 32,030 shares of Common Stock owned by it was approximately $267,933. Such
amount was derived from working capital.
Item 4. Purpose of Transaction.
The shares originally were purchased by the Reporting Persons for
investment purposes.
Ellison Carl Morgan joined the Schedule 13D group of his son, Ellison
C. Morgan, because Mr. Morgan and his son shared concerns regarding the business
prospects of the Company and they expect to coordinate their actions with
respect to the Company.
The Reporting Persons are reviewing their alternatives and intended to
closely monitor developments relating to and affecting the Company.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 95244U104 Page 13 of 17 Pages
- ------------------- ------------------
Subject to availability at prices deemed favorable, the Reporting
Persons may acquire additional shares of Common Stock from time to time in the
open market, in privately negotiated transactions or otherwise. The Reporting
Persons also may dispose of shares of Common Stock from time to time in the open
market, in privately negotiated transactions or otherwise.
Although the foregoing represents the range of activities presently
contemplated by the Reporting Persons with respect to the Company and the Common
Stock, it should be noted that the possible activities of the Reporting Persons
are subject to change at any time.
Except as set forth above, the Reporting Persons have no present plans
or intentions that relate to or that would result in any of the transactions
described in clauses (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) As of September 17, 1998, the Reporting Persons beneficially owned the
following number of shares of the Company's Common Stock (the approximate
percentage of the shares of Common Stock owned as indicated in parentheses below
is based on 12,801,078 shares of Common Stock outstanding by the Company on
October 9, 1998 according to the Company's Form 10-K Annual Report for the year
ended June 30, 1998).
(i) Ellison Christopher Morgan, Morgan Capital Management, owned
29,340 shares (0.23%)
(ii) Ellison Carl Morgan owned 100,000 shares (0.78%)
(iii) MCM Partners, LP owned 760,000 shares (5.94%)
(iv) Ellison C. Morgan Revocable Trust owned 262,500 shares (2.05%)
(v) 2030 Investors, LLC owned 61,000 shares (0.48%)
(vi) 2030 Investors 401K owned 32,030 shares (0.25%)
(vii) Total of the above is 1,244,870 (9.72%)
(b) The responses of the Reporting Persons to Items 7 through 11 of the portions
of the cover page of this Amendment No. 2 to the Schedule 13D which relate to
beneficial ownership of shares of the Common Stock are incorporated herein by
reference.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 14 of 17 Pages
- ------------------- ------------------
(c) See Schedule A for a listing of transactions in shares of Common Stock or
other securities of the Company by the Reporting Persons not previously reported
on this Schedule 13D. All such transactions were effected in open market
transactions.
(d) (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
As set forth under Item 5, Ellison Christopher Morgan makes voting and
dispositive decisions for MCM Partners, L.P. and Morgan Capital Management.
On or about September 17, 1998, Ellison Carl Morgan entered into the
following agreements with the Company involving securities of the Company:
(a) Purchased 100,000 shares of the Company's Common Stock at a
purchase price of $2.50 per share, pursuant to the terms of a
Common Stock Purchase Agreement dated September 17, 1998.
(b) Received a Convertible Subordinated Promissory Note in the
amount of $237,500 maturing September 16, 2000. The
Convertible Note is convertible into the issuer's Common Stock
at any time prior to maturity at a purchase price (subject to
adjustment) of $2.025 per share.
(c) Entered into a Registration Rights Agreement pursuant to which
the Company agreed to cause to be registered with the
Securities and Exchange Commission certain shares of its
Common Stock purchased, or which may be purchased, by Mr.
Morgan pursuant to the above agreement.
Item 7. Matter to be filed as Exhibits
Not applicable.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 15 of 17 Pages
- ------------------- ------------------
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: November 3, 1998
By: /s/ Ellison Christopher Morgan By: /s/ Ellison Carl Morgan
------------------------------ -----------------------
Ellison Christopher Morgan Ellison Carl Morgan
MCM PARTNERS, L.P.
By: /s/ E.C. Morgan
------------------------------
E.C. Morgan, General Partner
ELLISON C. MORGAN REVOCABLE TRUST
By: /s/ Ellison C. Morgan
------------------------------
Ellison C. Morgan, Trustee
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 16 of 17 Pages
- ------------------- ------------------
2030 INVESTORS, LLC
By: /s/ Ellison Carl Morgan
-----------------------------
Ellison Carl Morgan
2030 INVESTORS 401K
By: /s/ Ellison Carl Morgan
-----------------------------
Ellison Carl Morgan
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP NO. 95244U104 Page 17 of 17 Pages
- ------------------- ------------------
SCHEDULE A
TRANSACTIONS IN COMMON STOCK
- --------------------------------------------------------------------------------
Bought Aggregate
Party Date (Sold) Price Price
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/24/98 5,000 2.406 $12,336.25
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/25/98 10,000 2.562 26,225.00
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/25/98 4,000 2.625 10,740.00
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/25/98 8,000 2.593 21,230.00
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/25/98 2,000 2.593 5,307.50
- --------------------------------------------------------------------------------
Ellison C. Morgan Revocable Trust 6/25/98 1,000 2.562 2,627.50
- --------------------------------------------------------------------------------
2030 Investors LLC 7/8/98 10,000 2.498 24,975.00
- --------------------------------------------------------------------------------
Total 40,000 $103,441.25
- --------------------------------------------------------------------------------
