SEC NEWS DIGEST Issue 2005-113 June 14, 2005 COMMISSION ANNOUNCEMENTS SEC ADVISORY COMMITTEE ON SMALLER COMPANIES PUBLISHES AGENDA, NAMES WITNESS PANELS, FOR NEW YORK MEETING The Securities and Exchange Commission’s Advisory Committee on Smaller Public Companies has published its agenda and identified the witnesses it plans to hear from at its meeting at Columbia University Law School in New York City on June 16 and 17, 2005. The witnesses include officials from Nasdaq and the American Stock Exchange, experts on research analyst coverage of small cap companies and a variety of other persons knowledgeable about securities regulation of smaller public companies. The Advisory Committee was established by the SEC under the leadership of Chairman William H. Donaldson to examine the impact of the Sarbanes- Oxley Act and other federal securities laws on smaller public companies. The Committee will develop recommendations and issue a final report by April 2006. Previously, on April 12, 2005, the Committee voted to solicit public comment on a proposed committee agenda. The Committee will consider the comments submitted on the agenda and discuss other business on June 16, the first day of its two-day meeting in New York. On the second day of the meeting, June 17, the Committee will take testimony from witnesses. The testimony will focus on methods the Advisory Committee might recommend to scale securities regulations for smaller public companies. The Committee’s goal is to assure that the costs and burdens of regulation are commensurate with the benefits to investors and the public. Alan Beller, Director of the SEC’s Division of Corporation Finance, which is providing staff support for the Advisory Committee, said, “An academic environment is well suited for the Advisory Committee to pursue its goal of seeking solutions to regulatory problems faced by smaller public companies.” The Advisory Committee meeting will be held in Room 103 of Columbia Law School’s Jerome Greene Hall, 435 West 116th Street, New York, New York, from 1:00 to 5:30 p.m. on June 16 and from 9:00 a.m. to 12:30 p.m. on June 17. The meeting will be audio webcast on the Commission’s website at www.sec.gov. The agenda for the meeting, including information on composition of the witness panels, follows. Thursday, June 16, 1:00 p.m. – Business Session I Introductory Remarks Jim Thyen and Herb Wander, Co-Chairs II Review of Comments Received on Committee Agenda III Reports from Subcommittees: Capital Formation Accounting Standards Corporate Governance and Disclosure Internal Control Over Financial Reporting IV Discussion of Factual Input Hearings Questionnaires SEC Office of Economic Analysis SEC Office of Risk Assessment V Reaffirm or Revise Committee Agenda VI Discussion of Timetable VII Next Steps Planning for August Meeting VIII Adjournment Friday, June 17, 9:00 a.m. – Public Hearing I First Panel (9:00--10:45 a.m.) Edward S. Knight, Executive Vice President and General Counsel, The Nasdaq Stock Market, Inc. Neal L. Wolkoff, Chairman and Chief Executive Officer, American Stock Exchange LLC Alan Patricof, Co-Founder, Apax Partners Wayne A. Kolins, National Director of Assurance and Chairman of the Board, BDO Seidman, LLP; Executive Committee Member, Center for Public Company Audit Firms, American Institute of Certified Public Accountants Bill Loving, Chief Executive Officer and Executive Vice President, Pendleton County Bank, Franklin, West Virginia (testifying on behalf of Independent Community Bankers of America) R. Daniel Blanton, Chief Executive Officer and President, Georgia Bank Financial Corporation (testifying on behalf of American Bankers Association) II Second Panel (11:00 a.m.--12:30 p.m.) William J. Carney, Charles Howard Candler Professor of Law, School of Law, Emory University R. Cromwell Coulson, Chief Executive Officer, Pink Sheets LLC Michael Taglich, Co-Founder, President, and Chairman, Taglich Brothers, Inc. Gayle Essary, Chief Executive Officer, Investrend Communications, Inc. David N. Feldman, Managing Partner, Feldman Weinstein LLP John P. O’Shea, President, Westminster Securities Corp. For additional information, please contact John Heine, Deputy Director, SEC Office of Public Affairs, at (202) 551-4123. (Press Rel. 2005-90) ENFORCEMENT PROCEEDINGS IN THE MATTER OF JEFF THOMAS ALLEN On June 13, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Jeff Thomas Allen, of Pittsburgh, Pennsylvania. The Order finds that Allen was permanently enjoined, by consent, from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act, based on the entry of a Final Judgment entered against him on May 5, 2005, in the United States District Court for the Western District of Pennsylvania, in a civil action entitled Securities and Exchange Commission v. Jeff Thomas Allen, Civil Action No. 05-0453. Without admitting or denying the Commission’s findings, Allen consented to the sanctions imposed by the Order. The Order finds that Allen was the Chairman, President, Chief Investment Officer and majority shareholder of Advanced Investment Management, Inc. (AIM), a now defunct investment adviser formerly registered with the Commission. Allen managed, controlled and directed all of the activities of the firm. The Commission’s complaint alleged that between January 2002 and July 2002, Allen orchestrated a fraudulent trading scheme whereby he improperly leveraged AIM advisory client assets, which resulted in more than $415 million in client losses. The complaint further alleged that, in an effort to conceal his fraudulent conduct, Allen purchased and then sold the securities that created the unauthorized leverage on or near the last day of the month to avoid the disclosure of his excessive use of leverage in client monthly account statements. The complaint alleged that Allen further made misstatements and omissions of material facts in client monthly account statements when he failed to disclose his unauthorized and improper trading scheme. Based on the above, the Order bars Allen from association with any investment adviser. (Rel. IA-2394; File No. 3-11949) IN THE MATTER OF FORD MOTOR CREDIT COMPANY On June 14, the Commission issued an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933 (Order) against Ford Motor Credit Company (Ford Credit). The Order finds that Ford Credit violated Section 5 of the Securities Act of 1933 in connection with the public distribution of sales materials soliciting investment in certain of its debt securities marketed as alternatives to traditional money market investments. Specifically, the Order finds that Ford Credit publicly distributed sales materials soliciting investment in variable denomination floating rate demand notes (Notes) issued by the company and marketed as the “Ford Money Market Account” without also distributing with those sales materials a copy of the prospectus containing the detailed information about the Notes included in the registration statement filed with the Commission. Although investors ultimately received a copy of the prospectus prior to investing, Ford Credit violated Section 5(b)(1) of the Securities Act by failing to provide the prospectus to potential investors either before or at the same time it distributed the sales materials. The Commission’s Order also reflects its concern that Ford Credit’s sales materials may have created confusion among investors familiar with money market accounts traditionally offered by banks and mutual funds. Specifically, the sales materials advertised the Notes as paying interest rates incrementally higher than the average rates paid by traditional money market accounts and offering features typical of those accounts (such as online bill payment options and free checking privileges), but failed to explain that the “Ford Money Market Account” was not a bank account or money market mutual fund and did not have many of the significant protections of those accounts. Based on the above, the Order directs Ford Credit to disgorge $700,000 and pay prejudgment interest of $64,282 and orders the company to cease and desist from committing or causing any violations and any future violations of Section 5 of the Securities Act. In connection with the Order, the company has also undertaken to, among other things: (a) change the name of the program through which the Notes are offered and sold to one that does not include the term “money market” or otherwise suggest that the program is a type of money market account; (b) file with the Commission and distribute to each current Note holder a revised prospectus including additional disclosures enumerated in the Order; (c) ensure that all future sales materials concerning the Notes disclose that the Notes are not insured by the Federal Deposit Insurance Corporation; (d) ensure that all future sales materials comparing the rate paid on the Notes to rates paid on money market mutual funds registered under the Investment Company Act of 1940 disclose that the Notes are not money market mutual funds and do not meet the diversification standards and are not subject to the investment quality standards set forth for such funds; and (e) on a yearly basis provide each Note holder with a copy of Ford Credit’s most recent Form 10-K. Ford Credit consented to the issuance of the Order without admitting or denying any of its findings. (Rel. 33-8582; File No. 3-11950; Press Rel. 2005-89) HEDGE FUND MANAGER HILARY SHANE BARRED FROM BROKER-DEALER INDUSTRY AND SUSPENDED FROM INVESTMENT ADVISORY INDUSTRY On June 14, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Hilary L. Shane. The Order finds that on May 25, 2005, the District Court for the Southern District of New York entered a final judgment by consent against Shane permanently enjoining her from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint in the civil injunctive action alleged that on Sept. 28, 2001, Shane learned material nonpublic information that CompuDyne Corporation (CompuDyne) planned to conduct a Private Investment in Public Equity (PIPE) offering and she later agreed to purchase shares of CompuDyne through the PIPE offering for her own personal account and for one of the hedge fund accounts she managed. The complaint alleged that Shane also agreed, both orally and in writing, to keep the information about the CompuDyne PIPE offering confidential. The complaint alleged that in breach of that duty of trust and confidence, Shane executed short sales in CompuDyne securities in both her personal account and the hedge fund’s account before the public announcement of the PIPE offering on Oct. 9, 2001. The complaint further alleged that as a result of her short selling prior to the public announcement of the CompuDyne PIPE offering and covering her short sales with the shares she obtained through the PIPE, Shane and the hedge fund made a total profit of $296,785. The complaint also alleged that Shane continued shorting CompuDyne stock after the public announcement, when there was not a registration statement in effect for the resale of the PIPE shares. The complaint alleged that Shane ultimately shorted the same number of shares that she received in the PIPE offering and used the shares from the PIPE to cover her short sales, making an additional profit of $356,153. The complaint further alleged that by short selling CompuDyne securities before the effective date of the resale registration statement for the CompuDyne PIPE shares and covering her short sales with the PIPE shares after the resale registration statement became effective, Shane engaged in unregistered sales of securities. Based on the above, the Commission’s Order bars Hilary L. Shane from association with any broker or dealer and suspends her for a period of 12 months from association with any investment adviser. Hilary L. Shane consented to the issuance of the Order without admitting or denying the findings in the Order that set forth the allegations in the civil injunctive action. (Rels. 34-51839; IA-2395; File No. 3-11951) SEC BRINGS EMERGENCY ACTION AGAINST HEDGE FUND AND UNREGISTERED INVESTMENT ADVISERS The Commission announced that on June 9 it filed an emergency civil action against HKW Trading, LLC (HKW Trading), Howard Waxenberg Trading, L.L.C. (Waxenberg Trading) and Downing & Associates Technical Analysis, n/k/a The Estate of Howard Waxenberg (Downing), in connection with a Ponzi scheme orchestrated by the recently deceased Howard K. Waxenberg (Waxenberg) of Bradenton, Florida. The Commission also named HKW Trading Fund I, LLC (HKW Fund), a hedge fund, and the Estate of Howard Waxenberg (Estate of Waxenberg) as Relief Defendants. On June 9, 2005, the Honorable Susan C. Bucklew, United States District Judge for the Middle District of Florida entered, among other things, an emergency order to temporarily freeze the assets of HKW Trading, Waxenberg Trading, Downing (collectively, Defendants), HKW Fund and the Estate of Waxenberg. The Commission’s complaint (Complaint) alleges that from at least 1990 through May 2005, the Defendants raised more than $70 million by offering and selling securities to approximately 200 investors. The Complaint also alleges that Defendants falsely represented to investors that they were day-trading their investments in options and futures and generating approximately 20% annualized returns. The Complaint further alleges that Defendants sent out fictitious account statements to investors that materially overstated the account values in the individual investors’ accounts. Furthermore, the Complaint alleges that Defendants operated a Ponzi scheme by paying out approximately 20% annualized returns to investors, in part, from new investors’ capital. Finally, the Complaint alleges that Waxenberg received more than $1.6 million in ill-gotten gains from investors’ funds. Upon the SEC’s motion, the Court appointed Burton W. Wiand, Esq., an attorney in the law firm of Fowler White Boggs Banker, as Receiver over HKW Trading, Waxenberg Trading and HKW Fund. Among other things, Mr. Wiand is responsible for taking control of HKW Trading, Waxenberg Trading and HKW Fund and for marshaling and safeguarding their assets. The Complaint charges Defendants with violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and (2) of the Investment Advisers Act. The SEC is also seeking, among other things, permanent injunctions against HKW Trading and Waxenberg Trading, disgorgement of ill-gotten profits, civil money penalties against Defendants and an accounting from the Estate of Waxenberg. [SEC v. HKW Trading, LLC, Howard Waxenberg Trading, L.L.C., et al., Case No. 8:05-CV- 1076-T-24MSS M.D. Fla.] (LR-19265) SEC CHARGES TWO PURPORTED VENTURE CAPITAL FIRMS AND THEIR PRINCIPALS WITH SELLING STOCK IN FICTITIOUS ATM COMPANIES On June 14, the Commission announced that it had filed a civil action in the United States District Court for the District of Connecticut against Blue Square Management, Inc., Viktor Novosselov (a/k/a David Markowitz), Westwood Holdings, Inc. and George Falcone (a/k/a Michael Safir) in connection with the unregistered and fraudulent offerings of “pre-IPO” stock in two separate automatic teller machine (ATM) companies in which the defendants raised at least $4.9 million from over 360 investors nationwide. The Commission’s complaint alleges that the two fraudulent offerings were conducted in succession between 2001 and late 2004 by two unlicensed New York City-based venture capital firms and at least two unlicensed brokers who concealed their true identities from investors. Novosselov, with the substantial assistance of Malyar, orchestrated a fraudulent offering through Blue Square Management, Inc., a purported venture capital firm. From January 2001 to February 2004, one or more representatives of Blue Square cold-called potential investors across the country and solicited their investments in the stock and warrants of Cash Money Lending Corp., a purported ATM management company. After raising approximately $3.7 million from over 280 investors, Blue Square disconnected its phone lines and vacated its offices leaving investors unable to contact anyone about their investments. The Commission’s complaint further alleges that about the same time Blue Square disappeared, Malyar and several other individuals claiming to be associated with Westwood Holdings, Inc. began soliciting investors in a similar fraudulent offering involving a second purported ATM-related company. Using many of the same methods of operation, Westwood’s representatives were able to raise at least $1.2 million from over 80 investors. According to the Commission’s complaint, the defendants induced investment through false and misleading statements which included verbal and written claims that investments would yield up to 160% returns from a highly anticipated IPO and/or buy-out proposal. In fact, none of the promised IPOs or buy-out proposals ever materialized. Instead, the defendants dissipated virtually all of investors’ funds, using the proceeds primarily for cash, food, entertainment and other personal expenses. The Commission’s action seeks permanent injunctions, orders of disgorgement and civil penalties against Blue Square, Novosselov, Westwood and Malyar for violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Sections 10(b), 15(a) and 15(c) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and also against Malyar for aiding and abetting Novosselov and Blue Square’s violation of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. In a related criminal action, the United States Attorney’s Office for the District of Connecticut announced today the arrest of Novosselov and Malyar and the unsealing of an indictment charging them with securities fraud, mail fraud, money laundering, and money laundering conspiracy violations based on their activities at Blue Square. The staff acknowledges the assistance and cooperation of the United States Attorney’s Office for the District of Connecticut, the Federal Bureau of Investigation, the Social Security Administration (Office of the Inspector General, Office of Investigations), the United States Postal Inspection Service, the New York Police Department and the United States Immigration and Customs Enforcement Service in the investigation of this matter. [SEC v. Viktor Novosselov (a/k/a David Markowitz), Igor Malyar (a/k/a George Falcone and Michael Safir), Blue Square Management, Inc., and Westwood Holdings, Inc. (United States District Court for the District of Connecticut)] (LR-19266) ALYN RICHARD WAAGE AND THREE ASSOCIATES SENTENCED TO A COMBINED 24 ½ YEARS IN PRISON FOR THEIR ROLES IN THE $60 MILLION “TRI-WEST INVESTMENT CLUB” PRIME BANK SCHEME On March 11, 2005, federal judge Edward J. Garcia, sitting in Sacramento, California, sentenced Alyn Richard Waage (Waage) to 120 months in prison for his role as the mastermind of the Tri-West Investment Club, an Internet-based investment fraud scheme that netted almost $60 million, according to Department of Justice press releases. In a civil action brought by the Securities and Exchange Commission (“Commission”) in federal court in San Francisco, the court had already enjoined Waage on December 19, 2002 from future violations of the antifraud and registration provisions of the securities laws, and ordered him to disgorge $58 million in proceeds, plus interest, and to pay a civil penalty of $120,000. Haarlem Universal Corporation, a corporation based in Panama that Waage used to perpetrate the Tri-West scheme, was named as a relief defendant in the Commission’s civil action and was also ordered to disgorge $58 million. The Commission’s complaint alleged that Tri-West was promoted as an investment program to trade in fictitious “prime bank” securities. Investors were encouraged to send checks to various locations in California and Belize, and promised an annualized return of 120 percent. However, none of the investors’ money was invested as promised. Instead, according to Department of Justice press releases, it was used to purchase millions of dollars worth of real property in Mexico and Costa Rica, as well as high-priced items such as a yacht, helicopter, and numerous late-model cars. Three of Waage’s associates have also been sentenced for their roles in the Tri-West scheme. Cary Alyn Waage, Waage’s son, was sentenced to 50 months in prison and ordered to pay a $250,000 fine; Keith Nordick, who assisted Waage with a variety of Tri-West-related business, was sentenced to 65 months in prison; and James Michael Webb, Tri-West’s web page designer, was sentenced to 59 months in prison. The United States Attorney’s Office in Sacramento, which prosecuted the criminal cases, has also instituted civil and criminal actions seeking the forfeiture of millions of dollars in assets connected to the Tri- West scheme. The United States Attorney’s Office has recovered over $2 million in forfeited assets from abroad, according to papers filed in the criminal case against Alyn Waage. Efforts continue to repatriate Tri-West assets to the United States for eventual distribution to Tri- West investors from around the world. [SEC v. Tri-West Investment Club, Alyn Richard Waage, and Haarlem Universal Corporation, Case No. C-01- 3386 WHA (N.D. Cal.)] LR-19267 SEC CHARGES TRACK DATA CEO BARRY HERTZ WITH ILLEGAL INSIDER TRADING On June 14, the Commission filed a complaint against Barry Hertz, Chairman and CEO of Track Data Corporation, a financial services company. At all relevant times, Hertz was also President of Track Data Securities, a wholly owned subsidiary of Track Data Corporation. In its complaint, the Commission charges that Hertz, while in possession of material, nonpublic information concerning the company’s earnings during the second and third quarters of 2003, sold Track Data stock out of several accounts before the quarterly financial results became public. Hertz tipped several of his relatives, who also sold their Track Data stock. At the time that he sold the stock and tipped others, Hertz was subject to a company directive that barred trading in its stock prior to the issuance of financial results. In August 2003, Hertz also purchased Track Data stock while in possession of material, nonpublic information that the company would announce that it had authorized payment of a first-time dividend to shareholders. The Commission's complaint alleges that Hertz violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder . Specifically, the Commission's complaint alleges as follows: * By mid-July 2003, Hertz had received and reviewed Track Data’s internal revenue reports detailing revenue data for each month of the second quarter that ended June 30, 2003. The most important data that Hertz reviewed was the monthly revenue generated by the high-end MX product, which offers financial data and other market information to the professional market. By comparing each month’s revenue to the revenue of the prior month, Hertz was able to determine not only the exact amount of the change from month to month, but could also determine the overall direction of the business. By mid-July, Hertz knew, among other things, the exact amount of the decline in revenue from services to the professional market and knew that the decline was significant. * On July 11, 2003, Hertz received a company reminder that trading in Track Data securities was prohibited during the period from July 10, 2003, through August 12, 2003, the day after the company expected to announce its financial results for the second quarter. * On July 15 and 22, 2003, Hertz sold Track Data stock from the accounts of a not-for-profit corporation over which he had trading authority. On July 17, 2003, Hertz sold stock from an account in the name of a corporation owned by his sister (“Roxton account”). In each of the accounts, Hertz sold the entire holding of Track Data stock. * Hertz also tipped members of his family, who sold stock from their accounts prior to the announcement of the financial results for the second quarter. * On August 12, 2003, Track Data issued a news release announcing the financial results for its 2003 second quarter. The company noted that it had experienced “a significant decline in revenues from its market data services to the professional market . . . .” Revenues decreased 22% from the same period in 2002. That day the stock lost 21% of its value, closing at $1.26, down from the prior day’s close of $1.60. Trading volume surged to over 1.2 million shares from the prior day’s volume of 214,000. The following day the stock lost an additional 10%, closing at $1.13. * Between August 13 and 20, 2003, Hertz purchased Track Data stock for his sister’s account with knowledge of the impending issuance of a first-time stock dividend. After the company’s public announcement of the dividend on August 25, 2003, the price of the stock, which had previously closed at $1.26, increased by 19% to $1.50. * On October 15, 2003, Hertz received a company reminder that trading in Track Data securities was prohibited during the period from October 15 through November 12, 2003, the day after the company expected to announce its financial results for the third quarter. * By the end of October 2003, Hertz had received and reviewed Track Data’s internal revenue reports detailing the MX revenue data for each month of the third quarter that ended September 30, 2003. Hertz knew, among other things, the exact amount of the decline in revenue from services to the professional market and knew that the decline for the third quarter was significant. * On November 5 and 6, 2003, Hertz attempted to sell Track Data stock out of the Roxton account by placing limit orders on those days. The orders, however, expired before they were executed. In addition, on November 6, Hertz ordered the sale of Track Data stock out of the account of another not- for-profit corporation over which he had trading authority. * On November 11, 2003, Track Data issued a news release announcing the financial results for its 2003 third quarter. The company again noted that it experienced “a significant decline in revenues from its market data services to the professional market. . . .” Revenues decreased 33% from the same period in 2002. That day the stock lost 14.2% of its value. * By selling Track Data stock prior to the second and third quarter news releases, Hertz and his tippees illegally avoided trading losses of approximately $64,000. By purchasing Track Data stock prior to the dividend announcement, the Roxton account made potential profits of approximately $13,000. The Commission is seeking against Hertz an injunction, disgorgement and prejudgment interest, a civil penalty, and a bar from acting as an officer or director of a public company. [SEC v. Barry Hertz, CV 05- 2848 (JA) (E.D.N.Y)] (LR-19268) SELF-REGULATORY ORGANIZATIONS IMMEDATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change (SR-Amex-2005-054) and Amendments No. 1 and 2 thereto filed by the American Stock Exchange relating to continuation of a quote assist feature in options on a pilot basis, has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of June 13. (Rel. 34-51812) APPROVAL OF PROPOSED RULE CHANGE The Commission approved a proposed rule change and Amendment Nos. 1, 2, and 3 thereto (SR-BSE-2004-51) filed by the Boston Stock Exchange and granted accelerated approval to, Amendment No. 4 thereto, relating to the trading of market orders on the Boston Options Exchange. Publication of the proposal is expected in the Federal Register during the week of June 13. (Rel. 34-51821) PROPOSED RULE CHANGE The American Stock Exchange filed a proposed rule change (SR-Amex-2005- 55) relating to the continuation of a quote assist feature in options on a pilot basis. LLC. Publication of the proposal is expected in the Federal Register during the week of June 13. (Rel. 34-51815) ACCELERATED APPROVAL OF PROPOSED RULE CHANGES The Commission published notice of and granted accelerated approval to a proposed rule change (SR-ISE-2005-18) filed by the International Securities Exchange, Inc., relating to the preferencing of orders to Exchange market makers. Publication of the proposal is expected in the Federal Register during the week of June 13. (Rel. 34-51818) The Commission approved on an accelerated basis a proposed rule change and Amendment Nos. 1 and 2 thereto and granted accelerated approval to Amendment No. 3 to the proposed rule change submitted by the Chicago Board Options Exchange (SR-CBOE-2004-87) relating to trading rules on the Hybrid System for index options and options on ETFs. Publication of the proposal is expected in the Federal Register during the week of June 13. (Rel. 34-51822) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . F-6 VITRO SA DE CV, AVE RICARDO MAGAIN 400, GARZA GARCIA, MEXICO NUEVO LEON, O5, 66265, 5283291200 - 25,000,000 ($1,250,000.00) ADRs/ADSs, (File 333-125749 - Jun. 13) (BR. 06A) S-4 PQ CORP, 1200 W. SWEDESFORD ROAD, BERWYN, PA, 19312, (610) 651-4200 - 0 ($275,000,000.00) Equity, (File 333-125750 - Jun. 13) (BR. 06) F-1 Capital Maritime & Trading Corp., 3, IASSONOS STREET, PIRAEUS, ATHENS, J3, 18537, 302104584950 - 0 ($306,728,000.00) Equity, (File 333-125759 - Jun. 13) (BR. 05) S-8 Rackable Systems, Inc., 1933 MILMONT DRIVE, MILPITAS, CA, 95035, 408-240-8300 - 0 ($30,732,924.00) Equity, (File 333-125760 - Jun. 13) (BR. 03B) S-8 SEROLOGICALS CORP, 5655 SPALDING DRIVE, 5655 SPALDING DRIVE, NORCROSS, GA, 30092, 4042965595 - 0 ($196,250,000.00) Equity, (File 333-125761 - Jun. 13) (BR. 01C) S-8 CONSUMER DIRECT OF AMERICA, 20 CORPORATE PARK, SUITE 285, IRVINE, CA, 92606, 949-260-1801 - 5,000,000 ($1,500,000.00) Equity, (File 333-125762 - Jun. 13) (BR. 07A) S-8 CAPE SYSTEMS GROUP, INC, 3619 KENNEDY ROAD, SOUTH PLAINFIELD, NJ, 07080, 908-756-2000 - 4,267,076 ($426,708.00) Equity, (File 333-125763 - Jun. 13) (BR. 03B) S-1 HERTZ CORP, 225 BRAE BLVD, PARK RIDGE, NJ, 07656, 2013072000 - 0 ($100,000,000.00) Equity, (File 333-125764 - Jun. 13) (BR. 05B) S-8 NATIONAL ATLANTIC HOLDINGS CORP, 303 WEST MAIN ST, FREEHOLD, NJ, 07723, 9087800700 - 0 ($7,388,991.00) Equity, (File 333-125765 - Jun. 13) (BR. 01B) SB-2 TECHEDGE INC, 2,794,118 ($2,025,735.55) Equity, (File 333-125766 - Jun. 13) (BR. 04A) S-8 GOLDEN SPIRIT MINING LTD, 1288 ALBERNI ST STE 806, VANCOUVER BRITISH COLUMBIACANADAV6E4N5, BELLINGHAM, A2, 00000, 6046640484 - 19,000,000 ($285,000.00) Equity, (File 333-125767 - Jun. 13) (BR. 04C) S-4 BOISE CASCADE CO, 1111 WEST JEFFERSON STREET, P. O. BOX 50, BOISE, ID, 83728, (208) 384-6161 - 0 ($650,000,000.00) Other, (File 333-125768 - Jun. 13) (BR. 06A) S-8 COMMUNITY FIRST BANCORP INC, 240 SOUTH MAIN STREET, MADISONVILLE, KY, 42431, 2708217211 - 8,331 ($95,807.00) Equity, (File 333-125769 - Jun. 13) (BR. 07C) S-8 ALLIANCE DATA SYSTEMS CORP, 17655 WATERVIEW PARKWAY, DALLAS, TX, 75252, 9723485100 - 0 ($163,732,500.00) Equity, (File 333-125770 - Jun. 13) (BR. 08A) F-6 EMMET MARVIN & MARTIN LLP, 120 BROADWAY, NEW YORK, NY, 10271, 10,000,000 ($500,000.00) ADRs/ADSs, (File 333-125771 - Jun. 13) (BR. ) S-3 CREDENCE SYSTEMS CORP, 215 FOURIER AVE, FREMONT, CA, 94539, 5106577400 - 615,157 ($4,958,165.42) Equity, (File 333-125772 - Jun. 13) (BR. 10A) S-3 GABELLI ASSET MANAGEMENT INC, ONE CORPORATE CENTER, RYE, NY, 10580, 9149213700 - 0 ($400,000,000.00) Other, (File 333-125773 - Jun. 13) (BR. 07C) S-4 VENTURE FINANCIAL GROUP INC, 721 COLLEGE STREET, P O BOX 3800, LACEY, WA, 98509, 3604591100 - 0 ($18.20) Equity, (File 333-125774 - Jun. 13) (BR. 07A) S-1 PeopleSupport, Inc., 1100 GLENDON AVENUE, SUITE 1250, LOS ANGELES, CA, 90024, 310-824-6200 - 438,679 ($543,961.96) Equity, (File 333-125775 - Jun. 13) (BR. 08A) F-6 OPTION N.V., KOLONE 1 BEGAUTT LAAN 45, 3012 LEUVEN, C9, 00000, 10,000,000 ($500,000.00) ADRs/ADSs, (File 333-125776 - Jun. 13) (BR. ) S-8 BLACKBOARD INC, 1899 L ST NW, 5TH FLR, WASHINGTON, DC, 20036, 0 ($9,516,610.18) Equity, (File 333-125777 - Jun. 13) (BR. 03C) S-3 SABA SOFTWARE INC, 2400 BRIDGE PARKWAY, SIOTE 150, REDWOOD SHORES, CA, 94065-1166, 6506963822 - 1,799,920 ($7,451,668.80) Equity, (File 333-125778 - Jun. 13) (BR. 03C) S-8 PPT VISION INC, 12988 VALLEY VIEW ROAD, EDEN PRAIRIE, MN, 55344, 9529969500 - 0 ($125,000.00) Equity, (File 333-125780 - Jun. 13) (BR. 10C) S-8 NAPSTER INC, 9044 MELROSE AVENUE, LOS ANGELES, CA, 90069, 3102815000 - 2,100,000 ($9,072,000.00) Equity, (File 333-125781 - Jun. 13) (BR. 03B) S-4 JACOBS ENTERTAINMENT INC, 240 MAIN STREET, BLACK HAWK, CO, 80422, 3035821117 - 0 ($23,000,000.00) Other, (File 333-125782 - Jun. 13) (BR. 05B) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant’s Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant’s Code of Ethics, or Waiver of a Provision of the Code of Ethics 6.01 ABS Informational and Computational Material. 6.02 Change of Servicer or Trustee. 6.03 Change in Credit Enhancement or Other External Support. 6.04 Failure to Make a Required Distribution. 6.05 Securities Act Updating Disclosure. 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE DATE COMMENT --------------------------------------------------------------------------------------------------------- AAIPHARMA INC DE 2.03 06/07/05 ACE Securities Corp Home Equity Loan DE 9.01 05/26/05 ADVANCED COMMUNICATIONS TECHNOLOGIES FL 1.01,1.02 06/07/05 AFFILIATED COMPUTER SERVICES INC DE 7.01 06/10/05 ALAMOSA HOLDINGS INC DE 3.02 06/13/05 ALLIANCE DATA SYSTEMS CORP DE 1.01,8.01,9.01 06/07/05 ALLIANCE DATA SYSTEMS CORP DE 1.01,9.01 06/10/05 AMEDIA NETWORKS, INC. DE 1.01,5.02,9.01 05/25/05 AMERICAN ECOLOGY CORP DE 8.01 06/09/05 AMERICAN HEALTHWAYS INC DE 7.01,9.01 06/13/05 AMERICAN TECHNICAL CERAMICS CORP DE 5.02,9.01 06/13/05 AML COMMUNICATIONS INC DE 2.02,9.01 06/13/05 AMN HEALTHCARE SERVICES INC DE 5.02 06/09/05 APPLIED DIGITAL SOLUTIONS INC MO 9.01 06/09/05 AMEND APPLIED MATERIALS INC /DE DC 5.02 06/13/05 ASBURY AUTOMOTIVE GROUP INC DE 7.01 06/13/05 ASTRATA GROUP INC NV 8.01,9.01 06/13/05 AVID TECHNOLOGY INC DE 8.01,9.01 06/13/05 Axion Power International, Inc. DE 5.01,7.01 06/10/05 BAKERS FOOTWEAR GROUP INC MO 1.01,2.02,7.01,9.01 06/07/05 Bear Stearns Commercial Mortgage Secu DE 8.01,9.01 06/13/05 BEAZER HOMES USA INC DE 1.01,2.03,9.01 06/08/05 BEHRINGER HARVARD SHORT TERM OPPORTUN TX 1.01,9.01 06/13/05 BERKSHIRE HATHAWAY INC DE 8.01,9.01 06/06/05 BESTNET COMMUNICATIONS CORP NV 8.01 06/10/05 BIOFARM INC NV 1.01,2.03 04/26/05 BIOJECT MEDICAL TECHNOLOGIES INC OR 1.01,9.01 06/09/05 BIOMASS PROCESSING TECHNOLOGY INC DE 5.02 06/07/05 BIOSOURCE INTERNATIONAL INC DE 1.01,9.01 06/07/05 BNC BANCORP NC 1.01,9.01 06/09/05 BNP RESIDENTIAL PROPERTIES INC MD 2.01,8.01,9.01 03/31/05 AMEND BOSTON ACOUSTICS INC MA 2.02,8.01,9.01 06/10/05 BRIGHT HORIZONS FAMILY SOLUTIONS INC DE 4.01,9.01 06/13/05 BROCADE COMMUNICATIONS SYSTEMS INC DE 3.01,9.01 06/10/05 BROOKE CORP KS 3.01,9.01 06/13/05 BUILD A BEAR WORKSHOP INC DE 1.01 06/07/05 CAESARS ENTERTAINMENT INC DE 8.01,9.01 06/10/05 CAESARS ENTERTAINMENT INC DE 1.01,5.02,9.01 06/13/05 CAL DIVE INTERNATIONAL INC MN 8.01,9.01 06/13/05 CALLON PETROLEUM CO DE 8.01,9.01 06/13/05 CANARGO ENERGY CORP DE 7.01,9.01 06/13/05 CARRIZO OIL & GAS INC TX 1.01,3.02,7.01 06/07/05 CARSUNLIMITED COM INC NV 1.01,9.01 06/10/05 CASCADE CORP OR 1.01,2.02,8.01,9.01 06/07/05 CASEYS GENERAL STORES INC IA 2.02,7.01,9.01 06/13/05 CASUAL MALE RETAIL GROUP INC DE 1.01,9.01 06/07/05 CELL GENESYS INC DE 2.05,9.01 06/07/05 CENTEX CORP NV 2.03 06/08/05 CENTURY BANCORP INC MA 8.01,9.01 06/13/05 CHEC FUNDING LLC DE 8.01,9.01 05/13/05 CHESAPEAKE ENERGY CORP OK 8.01,9.01 06/10/05 CHINA DIGITAL COMMUNICATION GROUP NV 2.02,9.01 06/09/05 CHROMAVISION MEDICAL SYSTEMS INC DE 8.01,9.01 06/09/05 CINCINNATI BELL INC OH 8.01 06/10/05 CLAREMONT TECHNOLOGIES CORP NV 1.03 06/13/05 CNA FINANCIAL CORP DE 1.01,9.01 06/10/05 COLLEGIATE FUNDING SERVICES INC DE 1.02 06/07/05 COLLEGIATE PACIFIC INC DE 5.02,9.01 06/10/05 COLONIAL PROPERTIES TRUST AL 9.01 04/01/05 AMEND COLONIAL REALTY LIMITED PARTNERSHIP DE 9.01 04/01/05 AMEND COMMONWEALTH TELEPHONE ENTERPRISES IN PA 5.02,9.01 06/13/05 COMMUNITY TRUST BANCORP INC /KY/ KY 8.01 06/13/05 COMSYS IT PARTNERS INC DE 1.01 06/13/05 CONNETICS CORP DE 8.01,9.01 06/13/05 COOPER CAMERON CORP DE 5.02,9.01 06/09/05 Copano Energy, L.L.C. DE 1.01 06/07/05 CORPORATE PROPERTY ASSOCIATES 16 GLOB MD 2.01,9.01 03/15/05 AMEND CRDENTIA CORP DE 2.01,9.01 03/28/05 AMEND CRITICAL PATH INC CA 3.01 06/07/05 CSG SYSTEMS INTERNATIONAL INC DE 1.01,5.02,9.01 06/07/05 CYTEC INDUSTRIES INC/DE/ DE 8.01,9.01 06/13/05 CYTYC CORP DE 5.03,9.01 06/08/05 DENDREON CORP DE 1.01,1.02,5.02,5.03,9.01 03/10/05 DEUTSCHE RECREATIONAL ASSET FUNDING C NV 8.01,9.01 05/31/05 DEVON ENERGY CORP/DE DE 1.01 06/08/05 DNAPRINT GENOMICS INC UT 1.01,2.03,9.01 06/07/05 DOVER MOTORSPORTS INC DE 7.01,9.01 06/10/05 DOWNEY FINANCIAL CORP DE 7.01,9.01 05/31/05 DRUGMAX INC NV 1.01,9.01 06/07/05 EDIETS COM INC DE 1.01 06/13/05 EDWARDS A G INC DE 8.01 06/13/05 ELITE PHARMACEUTICALS INC /DE/ DE 9.01 03/30/05 AMEND ENCORE CREDIT RECEIVABLES TRUST 2005- DE 2.01,9.01 06/13/05 ENTERASYS NETWORKS INC /DE/ DE 2.05 06/08/05 ENTERGY CORP /DE/ DE 7.01 06/13/05 ENZON PHARMACEUTICALS INC DE 5.02,9.01 06/10/05 EON COMMUNICATIONS CORP DE 2.02,9.01 06/13/05 EPIC MEDIA INC CA 4.01 06/13/05 EXELIXIS INC DE 1.01,3.02 06/10/05 EXELIXIS INC DE 1.01,2.01,3.02 06/09/05 EYETECH PHARMACEUTICALS INC DE 1.01,5.03,7.01,9.01 06/08/05 F5 NETWORKS INC WA 5.02,7.01,9.01 06/08/05 FARMERS & MERCHANTS BANCORP DE 5.03 06/07/05 FARMERS & MERCHANTS BANCORP DE 8.01 06/10/05 FelCor Lodging Trust Inc MD 8.01,9.01 06/10/05 FIBERNET TELECOM GROUP INC\ DE 8.01,9.01 06/09/05 FIRST AVIATION SERVICES INC DE 1.01 06/07/05 FIRST DEFIANCE FINANCIAL CORP OH 4.01,9.01 06/07/05 FIRST FEDERAL BANC OF THE SOUTHWEST I 8.01,9.01 06/09/05 FORD MOTOR CO DE 8.01,9.01 06/13/05 FORMFACTOR INC DE 1.01 06/07/05 FRONTIER AIRLINES INC /CO/ CO 1.01 09/09/04 GABLES REALTY LIMITED PARTNERSHIP DE 1.01,9.01 06/07/05 GABLES RESIDENTIAL TRUST MD 1.01,5.03,9.01 06/07/05 GENERAL CABLE CORP /DE/ DE 1.01,9.01 06/13/05 GENTA INC DE/ DE 8.01 06/13/05 GOLD BANC CORP INC KS 8.01 06/13/05 GOLDEN PATRIOT CORP NV 8.01 06/13/05 GOLDTECH MINING CORP NV 4.01 06/13/05 AMEND GS MORTGAGE SECURITIES CORP DE 8.01,9.01 06/08/05 HANCOCK HOLDING CO MS 8.01,9.01 06/13/05 HARRAHS ENTERTAINMENT INC DE 8.01,9.01 06/10/05 HARRAHS ENTERTAINMENT INC DE 2.01,5.02,7.01,9.01 06/13/05 HARRIS INTERACTIVE INC DE 1.01,9.01 06/08/05 HARTFORD LIFE INSURANCE CO CT 9.01 06/13/05 HARVEST NATURAL RESOURCES INC DE 8.01,9.01 06/13/05 HEALTHCARE REALTY TRUST INC MD 2.02,4.01,9.01 06/07/05 HOLLY CORP DE 7.01,9.01 06/10/05 HOLLY ENERGY PARTNERS LP DE 7.01,9.01 06/10/05 HORIZON HEALTH CORP /DE/ DE 1.01,2.03,9.01 06/09/05 HUFFY CORP OH 5.02 06/10/05 I/OMAGIC CORP NV 1.01,1.02,9.01 06/06/05 IAC/INTERACTIVECORP DE 1.01,2.01,9.01 06/07/05 IDENIX PHARMACEUTICALS INC 1.01,9.01 06/07/05 IMAGE SOFTWARE INC CO 4.01,9.01 06/07/05 IMPLANT SCIENCES CORP MA 2.03,9.01 06/08/05 Industrial Enterprises of America, In NV 7.01 06/09/05 INERGY L P DE 7.01 06/13/05 INLAND WESTERN RETAIL REAL ESTATE TRU MD 9.01 03/29/05 AMEND INTEGRAMED AMERICA INC DE 1.01,9.01 06/09/05 INTEGRATED BIOPHARMA INC DE 7.01,9.01 06/10/05 INTEGRATED ENVIRONMENTAL TECHNOLOGIES DE 8.01,9.01 06/09/05 INTERLAND INC /MN/ MN 1.01 06/07/05 INTERLEUKIN GENETICS INC DE 8.01,9.01 06/13/05 INTERNATIONAL MONETARY SYSTEMS LTD /W WI 1.01,2.01,9.01 05/31/05 ITIS HOLDINGS INC NV 1.01,2.01 06/07/05 J P MORGAN CHASE & CO DE 9.01 06/10/05 JONES LANG LASALLE INC MD 8.01 06/10/05 KADANT INC DE 1.01,9.01 06/07/05 KANA SOFTWARE INC DE 8.01 06/13/05 KEY ENERGY SERVICES INC MD 8.01,9.01 06/07/05 KEY TECHNOLOGY INC OR 2.03,9.01 06/08/05 KITTY HAWK INC DE 1.01,9.01 06/09/05 KMG CHEMICALS INC TX 1.01,2.01,2.03 06/07/05 KULICKE & SOFFA INDUSTRIES INC PA 2.06,9.01 06/09/05 LAUREATE EDUCATION, INC. MD 8.01 06/13/05 LCC INTERNATIONAL INC DE 3.01 06/07/05 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP BELLSOUTH DEB BCKD SE DE 8.01,9.01 06/01/05 LEHMAN ABS CORP CORP BACKED TRUST CER DE 8.01,9.01 06/01/05 LEHMAN ABS CORP CORPORATE BACKED TRUS DE 8.01,9.01 06/01/05 LEHMAN ABS CORP NEWS AMERICA DEBENTUR DE 8.01,9.01 06/01/05 LOUDEYE CORP DE 1.01,5.02,9.01 06/13/05 LTX CORP MA 8.01 06/07/05 MAXXAM INC DE 8.01 06/13/05 MDU COMMUNICATIONS INTERNATIONAL INC DE 2.01 05/31/05 MEDITECH PHARMACEUTICALS INC NV 9.01 06/03/05 MELT INC NV 1.01 05/15/05 MERRILL LYNCH MORTGAGE INVESTORS TRUS DE 8.01,9.01 05/31/05 MGM MIRAGE DE 3.01,5.02,7.01,9.01 06/07/05 MIND2MARKET INC CO 5.02 06/07/05 MITCHAM INDUSTRIES INC TX 2.02,9.01 06/13/05 MOMENTA PHARMACEUTICALS INC DE 1.01,5.02,9.01 06/07/05 MOOG INC NY 7.01 06/13/05 MORGAN STANLEY DE 2.02,5.02,9.01 06/13/05 NABORS INDUSTRIES LTD D0 1.01 06/07/05 NASDAQ STOCK MARKET INC DE 7.01 06/10/05 NATIONAL CITY CORP DE 7.01,9.01 06/13/05 NBTY INC DE 7.01,9.01 06/13/05 NELNET INC NE 8.01,9.01 06/13/05 NETFLIX INC DE 5.02,9.01 06/08/05 NEWS CORP 8.01,9.01 06/13/05 NEWTECH BRAKE CORP DE 3.02,9.01 06/07/05 NEWTEK BUSINESS SERVICES INC NY 5.02,9.01 06/09/05 NEXTEL COMMUNICATIONS INC DE 2.03,9.01 06/09/05 NORCROSS SAFETY PRODUCTS LLC DE 7.01,9.01 06/13/05 NSP HOLDINGS LLC 7.01,9.01 06/13/05 NYMEX HOLDINGS INC DE 8.01 06/13/05 O CHARLEYS INC TN 7.01,9.01 06/13/05 ONEIDA LTD NY 5.02,9.01 06/07/05 ORION HEALTHCORP INC DE 1.01,2.01,8.01,9.01 06/07/05 OVERLAND STORAGE INC CA 5.02 06/09/05 OVERSEAS SHIPHOLDING GROUP INC DE 1.01,9.01 06/07/05 PACIFICHEALTH LABORATORIES INC DE 5.02 06/07/05 PATRON SYSTEMS INC NV 1.01,2.03,3.02 06/06/05 PAXSON COMMUNICATIONS CORP DE 5.02 05/19/05 AMEND PETROGEN CORP NV 1.01,9.01 06/13/05 PETROL OIL & GAS INC 5.02 05/09/05 PINNACLE ENTERTAINMENT INC DE 1.01,9.01 06/06/05 PINNACLE ENTERTAINMENT INC DE 1.01 05/03/05 AMEND PLAINS ALL AMERICAN PIPELINE LP DE 7.01,9.01 06/13/05 PLAINS EXPLORATION & PRODUCTION CO DE 8.01 05/31/05 AMEND PLIANT CORP UT 1.01,9.01 06/09/05 PMC COMMERCIAL TRUST /TX TX 8.01,9.01 06/11/05 PRECIS INC OK 5.02,9.01 06/10/05 PROGENICS PHARMACEUTICALS INC DE 8.01,9.01 06/10/05 PROXIM CORP DE 1.01,1.03,8.01,9.01 06/10/05 PROXYMED INC /FT LAUDERDALE/ FL 5.02 06/09/05 QUICKSILVER RESOURCES INC DE 5.02,9.01 06/09/05 RALCORP HOLDINGS INC /MO MO 8.01,9.01 06/13/05 RAMCO GERSHENSON PROPERTIES TRUST MD 5.03 06/09/05 REHABCARE GROUP INC DE 1.01,9.01 06/10/05 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE 8.01,9.01 06/13/04 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE 8.01,9.01 06/13/04 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE 8.01,9.01 06/13/05 RFMSI Series 2005-S4 Trust DE 8.01,9.01 06/13/05 ROO GROUP INC DE 1.01,9.01 04/01/05 ROYCE BIOMEDICAL INC NV 8.01,9.01 06/13/05 SAFLINK CORP DE 1.01,3.02,9.01 06/08/05 SANGAMO BIOSCIENCES INC DE 8.01,9.01 06/13/05 SCHWEITZER MAUDUIT INTERNATIONAL INC DE 4.01,9.01 06/08/05 SCOTIA PACIFIC CO LLC DE 8.01 06/13/05 SELECT COMFORT CORP 2.02,7.01,9.01 06/13/05 SELECT COMFORT CORP 7.01 06/13/05 SEQUA CORP /DE/ DE 1.01,9.01 06/13/05 SERVICE CORPORATION INTERNATIONAL TX 7.01,9.01 06/10/05 SHOPPING COM LTD NY 1.01,9.01 06/07/05 SIMTEK CORP CO 5.02,9.01 06/07/05 SLS INTERNATIONAL INC DE 5.02,9.01 06/07/05 SNOCONE SYSTEMS INC 2.01,3.02,9.01 04/01/05 AMEND SONICBLUE INC DE 8.01,9.01 04/30/05 SONUS NETWORKS INC DE 5.02 06/13/05 SOUTHERN POWER CO 1.01,2.01,2.03,9.01 06/07/05 SOUTHWEST COMMUNITY BANCORP CA 1.01,2.01,9.01 06/07/05 SOUTHWEST COMMUNITY BANCORP CA 8.01,9.01 06/13/05 SPECTRUM SCIENCES & SOFTWARE HOLDINGS DE 1.01,5.02,9.01 06/13/05 ST PAUL TRAVELERS COMPANIES INC MN 1.01,2.03 06/10/05 STANDARD MANAGEMENT CORP IN 1.01,9.01 06/07/05 STANDARD PARKING CORP DE 1.01,9.01 06/13/05 STEWART & STEVENSON SERVICES INC TX 1.01,5.02 06/07/05 STRUCTURED ASSET SECURITIES CORP DE 8.01 06/09/05 STRUCTURED ASSET SECURITIES CORP DE 8.01 06/09/05 STRUCTURED ASSET SECURITIES CORP II 8.01,9.01 06/13/05 SUN HYDRAULICS CORP FL 8.01,9.01 06/10/05 SUN NETWORK GROUP INC FL 1.01,2.01,3.02,5.01,5.02,5.03,8.01, 06/03/05 9.010 SUPERCLICK INC WA 2.02,9.01 06/13/05 SYMANTEC CORP DE 8.01 06/10/05 SYMMETRICOM INC DE 1.01,9.01 06/09/05 T REIT INC VA 7.01,9.01 06/09/05 AMEND TARGET CORP MN 1.01 06/09/05 TECH DATA CORP FL 1.01 06/07/05 TECO ENERGY INC FL 1.01,9.01 06/10/05 Tectonic Network, Inc DE 4.01,9.01 06/05/05 AMEND TEDA TRAVEL INC FL 5.02 06/13/05 TENDERCARE INTERNATIONAL INC CO 8.01 06/13/05 TERAX ENERGY, INC. NV 7.01 06/13/05 TII NETWORK TECHNOLOGIES INC DE 1.01,9.01 06/07/05 TNP ENTERPRISES INC TX 1.01,1.02,2.04,5.01,5.02,5.03,5.05, 06/06/05 8.01,9.01 TOPPS CO INC DE 8.01 06/09/05 TOREADOR RESOURCES CORP DE 1.01,9.01 06/07/05 Triad Automobile Receivables Trust 20 CA 8.01,9.01 06/13/05 Triangle Petroleum CORP NV 1.01,3.02,9.01 06/13/05 TRIPATH TECHNOLOGY INC 4.02 05/05/05 AMEND TRUSTREET PROPERTIES INC MD 8.01 06/10/05 TRUSTREET PROPERTIES INC MD 8.01,9.01 12/31/04 AMEND TTM TECHNOLOGIES INC WA 8.01 06/08/05 UCBH HOLDINGS INC DE 1.01,1.02,5.02,9.01 06/07/05 UNIFI INC NY 1.01,9.01 06/10/05 UNITED BANCORP INC /MI/ MI 8.01,9.01 06/13/05 UNITEDHEALTH GROUP INC MN 7.01 06/13/05 UNIVEC INC DE 4.01,4.02,5.02,9.01 06/09/05 USAA ACCEPTANCE LLC 8.01,9.01 06/13/05 VAALCO ENERGY INC /DE/ DE 8.01,9.01 06/13/05 VENTAS INC DE 1.01,2.01,2.03,8.01,9.01 06/07/05 VERITAS SOFTWARE CORP /DE/ DE 8.01 06/10/05 VERTEX PHARMACEUTICALS INC / MA MA 8.01,9.01 06/13/05 VINEYARD NATIONAL BANCORP CA 2.02,9.01 06/13/05 VION PHARMACEUTICALS INC DE 5.02,8.01,9.01 06/08/05 VIROPHARMA INC DE 3.02 06/07/05 VISANT CORP 7.01,9.01 06/13/05 VISANT HOLDING CORP 7.01,9.01 06/13/05 VISTULA COMMUNICATIONS SERVICES INC DE 1.02 06/13/05 VULCAN MATERIALS CO NJ 2.01,2.05,9.01 06/13/05 WACHOVIA COMMERCIAL MORTGAGE SECURITI NC 8.01,9.01 06/13/05 Warner Music Group Corp. DE 2.02,9.01 06/11/05 WASTE TECHNOLOGY CORP DE 5.02,9.01 06/08/05 WESTERN DIGITAL CORP DE 7.01 06/13/05 WESTPOINT STEVENS INC DE 1.01 06/10/05 WHITEHALL JEWELLERS INC DE 1.01 06/10/05 WINDROSE MEDICAL PROPERTIES TRUST MD 2.01,7.01,9.01 06/07/05 WORTHINGTON INDUSTRIES INC OH 7.01,9.01 06/13/05 XENOPORT INC DE 3.02 06/06/05 ZKID NETWORK CO NV 9.01 05/18/05 AMEND