<PAGE>
OMB APPROVAL
- ------------------------------------------------------
OMB Number: 3235-0145
Expires: October 31, 1997
Estimated average burden hours per response......14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
Cayenne Software, Inc. (formerly Bachman Information Systems, Inc.)
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- -------------------------------------------------------------------------------
(Title of Class of Securities)
056359102
- -------------------------------------------------------------------------------
(CUSIP Number)
Associated Capital, L.P. Margery K. Neale, Esq.
A Cap, Inc. Shereff, Friedman, Hoffman & Goodman, LLP
Jay H. Zises 919 Third Avenue
Selig A. Zises New York, New York 10022
Nancy J. Frankel-Zises (212) 758-9500
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
October 9, 1996
-------------------------------------------------------
(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-1(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-1(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 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>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ------------------------------------------ ---------------------------- --------------------------------------------
CUSIP No. 056359102 Page 2 of 12 Pages
------------- ------- -------
- -------- -----------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ASSOCIATED CAPITAL, L.P.
- -------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(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
DELAWARE
- --------------------- ------ ---------------------------------------------------------------------------------------
7 SOLE VOTING POWER
845,000
NUMBER OF ------ ---------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ------ ---------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 845,000
PERSON ------ ---------------------------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
- -------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING REASON
845,000
- -------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- -------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ------------------------------------------ ---------------------------- --------------------------------------------
CUSIP No. 056359102 Page 3 of 12 Pages
------------- ------- -------
- -------- -----------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A CAP, INC.
- -------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(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
NEW YORK
- --------------------- ------ ---------------------------------------------------------------------------------------
7 SOLE VOTING POWER
845,000
NUMBER OF ------ ---------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ------ ---------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 845,000
PERSON ------ ---------------------------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
- -------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING REASON
845,000
- -------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- -------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ------------------------------------------ ---------------------------- --------------------------------------------
CUSIP No. 056359102 Page 4 of 12 Pages
------------- ------- -------
- -------- -----------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAY H. ZISES
- -------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
- -------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC, PF, 00
- -------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------- ------ ---------------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,242,500
NUMBER OF ------ ---------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 125,500
OWNED BY ------ ---------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,242,500
PERSON ------ ---------------------------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
125,500
- -------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING REASON
1,368,000
- -------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.8%
- -------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ------------------------------------------ ---------------------------- --------------------------------------------
CUSIP No. 056359102 Page 5 of 12 Pages
------------- ------- --------
- -------- -----------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SELIG A. ZISES
- -------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
- -------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF, OO
- -------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
/ /
- -------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------- ------ ---------------------------------------------------------------------------------------
7 SOLE VOTING POWER
471,900
NUMBER OF ------ ---------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 25,000
OWNED BY ------ ---------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 471,900
PERSON ------ ---------------------------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
25,000
- -------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING REASON
496,900
- -------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- -------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
SCHEDULE 13D
This Amendment No. 8 amends and supplements the Statement on
Schedule 13D filed with the Securities and Exchange Commission on March 23,
1995, as amended by Amendments No. 1, 2, 3, 4, 5, 6 and 7 thereto (the
"Statement") with respect to the common stock, $.01 par value per share, of
Cayenne Software, Inc. (the "Common Stock"). Only those items of the Statement
that are amended and supplemented hereby are included herein. Unless otherwise
defined herein, all capitalized terms shall have the respective meanings
ascribed to them in the Statement.
Item 3. Source and Amount of Funds
Associated Capital purchased an aggregate of 175,000 shares
at an aggregate cost of $792,370.50, using its own funds. Jay H. Zises
purchased an aggregate of 13,000 shares of Common Stock for his personal and
retirement accounts at an aggregate cost of $53,625, using his own funds. The
8,500 shares of Common Stock purchased by Justin Zises were purchased at an
aggregate cost of $39,125, using his own funds. The 12,500 shares of Common
Stock purchased in the Uniform Gift to Minors Act ("UGMA") account for Meryl
Zises were purchased at an aggregate cost of $56,107.50, using funds from the
UGMA account. The 8,500 shares of Common Stock purchased by Lara Zises were
purchased at an aggregate cost of $39,125, using her own funds. The 8,500
shares of Common Stock purchased by Samantha Zises were purchased at an
aggregate cost of $39,125, using her own funds. The 5,000 shares of Common
Stock purchased by Susan Zises were purchased at an aggregate cost of $21,875,
using her own funds. Selig A. Zises purchased an aggregate of 50,400 shares of
Common Stock for his personal and retirement accounts at an aggregate cost of
$216,710, using his own funds. The 5,000 shares of Common Stock purchased by
Lynn Zises were purchased at an aggregate cost of $21,743.50, using her own
funds.
All of the amounts reported herein are net of
commissions.
Item 5. Interest in Securities of the Issuer
(a) and (b) Associated Capital is the beneficial and record
owner of 845,000 shares of Common Stock, or 4.8% of the outstanding shares of
Common Stock.
As the general partner of Associated Capital, A Cap has the
sole power to vote and to direct the voting of and the sole power to dispose
and direct the disposition of the 845,000 shares of Common Stock owned by
Associated Capital. Accordingly, A Cap may be deemed to be the beneficial owner
of such 845,000 shares of Common Stock or 4.8% of the outstanding shares of
Common Stock.
Jay Zises, as President of A Cap, has the sole power to vote
and to direct the voting of, and to dispose and to direct the disposition of,
the shares of Common Stock deemed
6
<PAGE>
to be beneficially owned by A Cap. Accordingly, Mr. Zises may be deemed to be
the beneficial owner of such 845,000 shares of Common Stock or 4.8% of the
outstanding shares of Common Stock.
Jay Zises is the beneficial and record owner of an aggregate
of 370,000 shares of Common Stock or 2.1% of the outstanding in his personal
account, individual retirement account ("IRA") and Keogh account. As
hereinafter described, Mr. Zises also may be deemed to own beneficially an
additional 153,000 shares of Common Stock or 0.9% of the outstanding. Such
shares are owned of record as follows: (i) 23,500 shares of Common Stock (0.1%)
held in the account of his son, Justin Zises, (ii) 27,500 shares of Common
Stock (0.2%) held in an UGMA account for the benefit of his daughter, Meryl
Zises, (iii) 23,500 shares of Common Stock (0.1%) in the account of his
daughter, Lara Zises, and (iv) 23,500 shares of Common Stock (0.1%) in the
account of his daughter, Samantha Zises, (v) 30,000 shares of Common Stock
(0.2%) in the account of his ex-wife, Susan Zises, and (vi) 25,000 shares of
Common Stock (0.1%) in the account of his mother-in-law, Inge Frankel.
In addition to the 845,000 shares of Common Stock owned by
Associated Capital, Jay Zises has sole power to vote or direct the vote of, and
to dispose and to direct the disposition of, 397,500 shares of Common Stock,
consisting of (A) the 370,000 shares held in Mr. Zises's personal, IRA and
Keogh accounts, and (B) the 27,500 shares held in the UGMA account for Meryl
Zises. Jay Zises has shared power to vote or direct the voting of, and shared
power to dispose or direct the disposition of 125,500 shares of Common Stock,
consisting of (A) the 23,500 shares held in Lara Zises's account, (B) the
23,500 shares held in Samantha Zises's account, (C) the 23,500 shares held in
Justin Zises's account, (D) the 30,000 shares held in Susan Zises's account,
and (E) the 25,000 shares held in Inge Frankel's account.
Selig A. Zises is the beneficial and record owner of an
aggregate of 471,900 shares of Common Stock, or 2.7% of the outstanding, in Mr.
Zises's personal account and IRA. In addition, as described below, Mr. Zises
also may be deemed to own beneficially an additional 25,000 shares of Common
Stock, or 0.1% of the outstanding, held in the account of his daughter, Lynn
Zises.
Selig A. Zises has sole power to vote or direct the voting
of, and sole power to dispose or direct the disposition of 471,900 shares of
Common Stock, consisting of all of the shares held in Mr. Zises's personal and
IRA accounts. Selig A. Zises has shared power to vote or direct the voting of,
and shared power to dispose or direct the disposition of 25,000 shares of
Common Stock, consisting of the shares held in Lynn Zises's account.
The number of shares beneficially owned by each of the
Reporting Persons and the percentage of outstanding shares represented thereby,
have been computed in accordance with Rule 13d-3 under the Securities Exchange
Act of 1934, as amended (the "Securities Exchange Act"). The percentage of
ownership of the Reporting Persons is based on 17,631,445 outstanding shares of
Common Stock of the Issuer based on the Issuer's Quarterly
7
<PAGE>
Report on Form 10-Q for the quarter ended June 30, 1996.
Item 7. Material to be Filed as Exhibits
Exhibit A. Purchases of Common Stock of Issuer.
8
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises
-------------------------------
Jay H. Zises, President
A CAP, INC.
By: /s/ Jay H. Zises
-------------------------------
Jay H. Zises, President
/s/ Jay H. Zises
-----------------------------------
JAY H. ZISES
/s/ Selig A. Zises
-----------------------------------
SELIG A. ZISES
Dated: October 11, 1996
<PAGE>
Cayenne Software, Inc.
<TABLE>
<CAPTION>
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Trade Date # of shares Price Net $
---------- ----------- ------ -----
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
<S> <C> <C> <C> <C>
Associated Capital 9/13/96 30,000 $4.729 $141,870.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/26/96 14,000 $4.375 $61,250.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/27/96 30,000 $4.188 $125,625.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/30/96 26,000 $4.250 $110,500.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/7/96 30,000 $4.490 $134,688.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 30,000 $4.875 $146,250.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/10/96 15,000 $4.813 $72,187.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUB TOTAL 845,000 $5.124 $4,329,702.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Selig Zises 8/16/96 2,300 $4.125 $9,487.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
8/19/96 300 $4.125 $1,237.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
8/20/96 2,800 $4.125 $11,550.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/16/96 5,000 $4.387 $21,935.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/27/96 10,000 $4.125 $41,250.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/1/96 10,000 $4.375 $43,750.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/1/96 15,000 $4.375 $65,625.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 5,000 $4.375 $21,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUB TOTAL 471,900 $4.995 $2,357,233.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Justin Zises 9/30/96 1,000 $4.125 $4,125.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/7/96 2,500 $4.438 $11,093.75
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 2,500 $4.750 $11,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
</TABLE>
10
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Trade Date # of shares Price Net $
---------- ----------- ------ -----
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
<S> <C> <C> <C> <C>
10/10/96 2,500 $4.813 $12,031.25
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 23,500 $4.827 $113,425.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Lara Zises 9/30/96 1,000 $4.125 $4,125.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/7/96 2,500 $4.438 $11,093.75
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 2,500 $4.750 $11,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/10/96 2,500 $4.813 $12.031.25
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 23,500 4.800 $112,800.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Meryl Zises 8/6/96 3,000 $4.390 $13,170.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/30/96 2,000 $4.125 $8,250.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/4/96 2,500 $4.313 $10,781.25
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 2,500 $4.750 $11,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/10/96 2,500 $4.813 $12,031.25
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 27,500 4.742 $130,407.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Samantha Zises 9/30/96 1,000 $4.125 $4,125.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/7/96 2,500 $4.438 $11,093.75
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/9/96 2,500 $4.750 $11,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
10/10/96 2,500 $4.813 $12.031.25
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 23,500 4.827 $113,425.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
</TABLE>
11
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Trade Date # of shares Price Net $
---------- ----------- ------ -----
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
<S> <C> <C> <C> <C>
Susan Zises 9/10/96 3,000 $4.375 $13,125.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/11/96 2,000 $4.375 $8,750.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 30,000 $5.096 $152,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Lynn Zises 9/16/96 5,000 $4.349 $21,743.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/18/96 -120,000 $4.500 ($540,000.00)
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
9/18/96 -5,000 $4.500 ($22,500.00)
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 25,000 $10.095 $252,366.50
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Jay Zises 8/6/96 6,000 4.125 $24,750.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
8/13/96 7,000 4.125 $28,875.00
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
SUBTOTAL 370,000 $5.053 $1,869,495.55
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Current TOTAL 1,938,900
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
Percent Owned 11.0%
- -------------------------------- --------------------- ----------------------- --------------- ---------------------
</TABLE>
12
