UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
7.25% Cumulative Preferred Stock | 12/31/2003 | Â (2) | Common Stock | (3) | $ (3) | I (4) | Owned by Delta Divident Group, Inc., of which Mr. Gale is President and majority (55%) owner. |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
GALE DAVID 220 MONTGOMERY STREET SUITE 426 SAN FRANCISCO, CA 94104 |
 X |  |  |  |
Beverly Bertram Timm, by power of attorney | 04/01/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The original filing incorrectly indicated direct ownership of these 10,000 shares of Common Stock. The shares are owned by Mr. Gale's spouse. |
(2) | The 7.25% Cumulative Convertible Preferred Stock is convertible at any time without expiration unless earlier redeemed at the Company's discretion. |
(3) | The original filing incorrectly indicated beneficial ownership of 20,000 shares of this Preferred Stock. The correct amount is 21,000 shares. The Preferred Stock is convertible at any time into the number of shares of Common Stock as is equal to the aggregate liquidation preference ($50/share), plus accrued and unpaid dividend to the date the shares of Preferred Stock are surrendered for conversion, divided by an initial conversion price of $15.00. Based on this formula, the 21,000 shares of Preferred Stock are currently (on 4-1-2005) convertible to 70,000 shares of Common Stock. |
(4) | The original filing incorrectly indicated that Mr. Gale directly owned Preferred Stock. He does not directly own any of the Preferred Stock. |