-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PuJlHDPGlm7dOvg1w80AZYyol96mbS3ecHTgtvVkHBH5UFoAlHkgC+2bkRohodpO IZnn2sm1psPNZc9vt382GQ== 0000950124-07-006062.txt : 20071128 0000950124-07-006062.hdr.sgml : 20071128 20071128162554 ACCESSION NUMBER: 0000950124-07-006062 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071128 DATE AS OF CHANGE: 20071128 EFFECTIVENESS DATE: 20071128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNDER AT VANTAGE FUND CENTRAL INDEX KEY: 0001113027 IRS NUMBER: 383533130 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-09937 FILM NUMBER: 071271865 BUSINESS ADDRESS: STREET 1: 480 PIERCE ST. CITY: BIRMINGHAM STATE: MI ZIP: 48009 BUSINESS PHONE: 2486479200 MAIL ADDRESS: STREET 1: 480 PIERCE ST. CITY: BIRMINGHAM STATE: MI ZIP: 48009 FORMER COMPANY: FORMER CONFORMED NAME: MUNDER AT VANTAGE TRUST DATE OF NAME CHANGE: 20000509 FORMER COMPANY: FORMER CONFORMED NAME: MUNDER INTERNET TRUST DATE OF NAME CHANGE: 20000426 N-Q 1 k19084nvq.htm QUARTERLY SCHEDULE OF HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY nvq
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-09937
 
THE MUNDER @VANTAGE FUND
 
(Exact name of registrant as specified in charter)
480 PIERCE STREET
BIRMINGHAM, MICHIGAN 48009
 
(Address of principal executive offices)(Zip code)
     
(Name and Address of Agent for Service)   Copy to:
     
STEPHEN SHENKENBERG
480 PIERCE STREET
BIRMINGHAM, MICHIGAN 48009 		  JANE KANTER
DECHERT LLP
1775 I STREET, N.W.
WASHINGTON, D.C. 20006
Registrant’s telephone number, including area code: (248) 647-9200
Date of fiscal year end: June 30
Date of reporting period: September 30, 2007
 
 

 

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Munder @Vantage Fund®
Portfolio of Investments, September 30, 2007 (Unaudited) (a),(b),(l)
 
                 
Shares       Value(c),(k)
 
COMMON STOCKS — 79.1%
Consumer Discretionary — 13.7%
   Internet & Catalog Retail — 13.6%
  5,500    
Amazon.Com Inc. †
   $ 512,325  
  2,700    
B2W Compania Global Do Varejo
     127,414  
  49,400    
drugstore.com, inc. †
     160,056  
  5,646    
Expedia, Inc. †
     179,994  
  5,400    
FTD Group, Inc.
     80,352  
  4,600    
Gmarket Inc., ADR †
     107,870  
  11,000    
IAC/ InterActiveCorp †
     326,370  
  7,200    
Netflix, Inc. †
     149,184  
  29,500    
PetMed Express, Inc. †
     413,295  
  3,650    
priceline.com Incorporated †
     323,938  
  10,900    
US Auto Parts Network, Inc. †
     94,939  
             
              2,475,737  
             
   Media — 0.1%
  9,800    
Digital Music Group, Inc. †
     24,598  
             
Total Consumer Discretionary     2,500,335  
       
Financials — 6.3%
   Capital Markets — 3.5%
  10,800    
optionsXpress Holdings Inc.
     282,312  
  19,800    
TD AMERITRADE Holding Corporation †
     360,756  
             
              643,068  
             
   Real Estate Management & Development — 2.8%
  181,300    
Move, Inc. †
     500,388  
             
Total Financials     1,143,456  
       
Industrials — 4.6%
   Commercial Services & Supplies — 4.6%
  5,300    
51job, Inc., ADR †
     105,788  
  21,302    
Intermap Technologies Corp. †
     132,783  
  17,550    
Monster Worldwide, Inc. †
     597,753  
             
              836,324  
             
Information Technology — 54.5%
   Communications Equipment — 1.3%
  2,600    
Nortel Networks Corporation †
     44,148  
  2,000    
QUALCOMM Incorporated
     84,520  
  2,600    
Telefonaktiebolaget LM Ericsson
     103,480  
             
              232,148  
             

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   Computers & Peripherals — 4.3%
  4,450    
Apple Inc. †
     683,253  
  5,000    
EMC Corporation †
     104,000  
             
              787,253  
             
   Electronic Equipment & Instruments — 0.5%
  13,800    
Wireless Ronin Technologies, Inc. †
     93,150  
             
   Internet Software & Services — 36.9%
  8,500    
Akamai Technologies, Inc. †
     244,205  
  10,000    
ARTISTdirect, Inc. †
     18,000  
  900    
Baidu.com, Inc., ADR †
     260,685  
  6,190    
Bankrate, Inc. †
     285,483  
  8,000    
Bidz.com, Inc. †
     107,680  
  187,000    
CMGI, Inc. †
     254,320  
  55,900    
CNET Networks, Inc. †
     416,455  
  16,700    
Digital River, Inc. †
     747,325  
  20,000    
eBay Inc. †
     780,400  
  1,050    
Google Inc., Class A †
     595,633  
  11,000    
LiveDeal, Inc. †
     76,890  
  5,400    
LoopNet, Inc. †
     110,916  
  8,600    
NetEase.com, Inc., ADR †
     145,340  
  550    
NHN Corporation †
     127,284  
  14,500    
RealNetworks, Inc. †
     98,310  
  5,700    
Rediff.com India Limited, ADR †
     101,688  
  65,000    
ROO Group, Inc. †
     52,000  
  7,200    
SINA Corporation †
     344,520  
  7,250    
Sohu.com Inc. †
     273,398  
  23,300    
Spark Networks, Inc. †
     91,802  
  26,800    
Tencent Holdings Ltd.
     173,062  
  36,685    
TheStreet.com, Inc.
     444,255  
  5,900    
Travelzoo, Inc. †
     135,405  
  13,300    
Universo Online SA †
     85,256  
  3,300    
ValueClick, Inc. †
     74,118  
  1,750    
WebMD Health Corp., Class A †
     91,175  
  22,500    
Yahoo! Inc. †
     603,900  
             
              6,739,505  
             
   Semiconductors & Semiconductor Equipment — 2.1%
  20,700    
Micron Technology, Inc. †
     229,770  
  4,500    
Silicon Motion Technology Corporation, ADR †
     101,295  
  4,900    
Taiwan Semiconductor Manufacturing Company Limited, ADR
     49,588  
             
              380,653  
             
   Software — 9.4%
  4,068    
Adobe Systems Incorporated †
     177,609  
  17,500    
Captaris, Inc. †
     92,575  
  7,500    
Check Point Software Technologies Ltd. †
     188,850  
  16,400    
Microsoft Corporation
     483,144  

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  35,000    
Napster, Inc. †
     114,450  
  5,200    
Red Hat, Inc. †
     103,324  
  5,300    
Shanda Interactive Entertainment Limited, ADR †
     197,213  
  65,800    
SourceForge, Inc. †
     161,210  
  6,000    
Symantec Corporation †
     116,280  
  3,550    
THQ Inc. †
     88,679  
             
              1,723,334  
             
Total Information Technology     9,956,043  
       
TOTAL COMMON STOCKS
   (Cost $13,654,789)     14,436,158  
       
LIMITED PARTNERSHIPS — 19.2%
Information Technology — 19.2%
   Multi-Industry — 17.7%
  2,025,000    
CenterPoint Ventures III (Q) L.P. †,(d),(e),(f),(g)
     835,633  
  1,880,000    
New Enterprise Associates 10, L.P. †,(d),(e),(f),(g)
     1,312,063  
  680,000    
Telesoft II QP, L.P. †,(d),(e),(f),(g),(h)
     301,010  
  1,174,098    
Trident Capital Fund V, L.P. †,(d),(e),(f),(g)
     789,557  
             
              3,238,263  
             
   Semiconductors & Semiconductor Equipment — 1.5%
  2,500,000    
Tech Farm Ventures (Q) L.P. †,(d),(e),(f)
     266,865  
             
TOTAL LIMITED PARTNERSHIPS
   (Cost $7,398,023)     3,505,128  
       
PREFERRED STOCK — 1.6%
   (Cost $999,999)        
Information Technology — 1.6%
   Computers & Peripherals — 1.6%
  444,444    
Alacritech, Inc., Series C †,(d),(e),(f)
     292,044  
             
INVESTMENT COMPANY SECURITY — 0.8%
   (Cost $146,194)        
  146,194    
Institutional Money Market Fund (i)
     146,194  
             
                   
TOTAL INVESTMENTS
                
 
(Cost $22,199,005)(j)
     100.7 %   $ 18,379,524  
             
 
  †  Non-income producing security.
 
 (a)  All percentages are based on net assets of the Fund as of September 30, 2007.
 
 (b)  The Fund primarily invests in equity securities of U.S. and non-U.S. companies considered by Munder Capital Management (the “Advisor”) to significantly benefit from or derive revenue from the Internet, advances in communications technology, data processing technology and implementations thereof, generally known as Internet technologies. The value of such companies is particularly vulnerable to rapidly changing technology, extensive government regulation and relatively high risks of obsolescence caused by scientific and technological advances. As of September 30, 2007, more than 25% of the Fund’s assets were invested in issuers in the Internet software & services industry. When a Fund concentrates its investments in an industry or a group of industries, adverse market conditions within those industries may have a more significant impact on a Fund than they would on a Fund that does not concentrate its investments. The value of the Fund’s shares may fluctuate more than shares of

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a fund investing in a broader range of industries. The Fund may invest up to 40% of its total assets in equity securities of privately owned Internet-related technology companies that plan to conduct an initial public offering (IPO) within a period of several months to several years from the time the Fund makes its investment. These companies are referred to as venture capital companies. Venture capital companies represent highly speculative investments by the Fund. Of the Fund’s venture capital holdings, the Fund may invest up to 20% of its total assets in securities of private investment funds that invest primarily in venture capital companies.
 
 (c)  Securities and other investments are generally valued using readily available market quotations, which may be obtained from various pricing sources approved by the Board of Trustees. Equity securities are generally valued at the last quoted sale price on the primary market or exchange on which such securities are traded or the official close price of such exchange. Lacking any sales, equity securities (other than depositary receipts) are valued at the mean of the bid and asked prices, and depositary receipts are valued based on the underlying security’s value and relevant exchange rate. The value of the securities of other open-end funds held by the Fund, if any, is calculated using the net asset value of such underlying funds. In the event that a price for a security is not available through the means described above, the security may be valued using broker-dealer quotations, last reported market quotations, or at fair value by a pricing committee in accordance with guidelines approved by the Board of Trustees. Securities that are primarily traded on foreign securities exchanges may also be subject to fair valuation by such pricing committee should a significant event occur subsequent to the close of the foreign securities exchanges. Fair valuations involve a review of relevant factors, including without limitation, company-specific information, industry information, comparable publicly-traded securities information, movements in U.S. equity markets following the close of foreign markets, and/or country-specific information. Investment securities denominated in foreign currencies are translated into U.S. dollars. Debt securities with remaining maturities of 60 days or less at the time of purchase are valued on an amortized cost basis, which approximates current market value, unless the Board of Trustees determines that such valuation does not constitute fair value at that time. For purposes of Portfolio of Investments presentation, security transactions are recorded on a trade date basis.
 
 (d)  Fair valued security as of September 30, 2007 (see note (c) above). At September 30, 2007, these securities represent $3,797,172, 20.8% of net assets.
 
 (e)  Security subject to restrictions on resale under federal securities laws. These types of securities may only be resold upon registration under the Securities Act of 1933 or in transactions exempt from registration. The Fund does not have the right to demand that any of these securities be registered.
 
 (f)  Security subject to restrictions on resale that is considered illiquid. The Fund may not invest more than 40% of its net assets in illiquid securities. At September 30, 2007, securities subject to restrictions on resale that have not been deemed to be liquid represent $3,797,172, 20.8% of net assets.

                 
Security   Acquisition Date   Cost
 
Alacritech, Inc., Series C
     12/13/2001     $ 999,999  
CenterPoint Ventures III (Q) L.P.
     03/07/2001       180,731  
      07/20/2001       180,731  
      10/15/2001       180,731  
      07/16/2002       121,813  
      11/04/2002       84,341  
      06/09/2003       72,292  
      09/04/2003       72,292  
      01/30/2004       73,803  
      04/07/2004       123,006  
      08/13/2004       100,000  
      11/29/2004       75,000  
      04/18/2005       75,000  
      07/15/2005       112,500  
      11/21/2005       100,000  

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      03/15/2006       75,000  
      06/30/2006       87,500  
      11/27/2006       87,500  
      02/23/2007       87,500  
      04/20/2007       100,000  
New Enterprise Associates 10, L.P.
     10/26/2000       136,978  
      01/04/2001       68,489  
      07/27/2001       34,244  
      09/26/2001       68,489  
      01/16/2002       72,676  
      04/23/2002       72,676  
      07/12/2002       72,675  
      11/12/2002       72,675  
      02/04/2003       73,531  
      07/16/2003       74,584  
      09/19/2003       77,077  
      12/10/2003       77,330  
      04/19/2004       77,616  
      08/16/2004       78,606  
      12/28/2004       84,118  
      07/11/2005       46,529  
      01/13/2006       48,170  
      03/10/2006       48,170  
      04/03/2006       48,170  
      11/02/2006       48,414  
      05/01/2007       39,517  
      09/10/2007       40,000  
Tech Farm Ventures (Q) L.P.
     12/19/2000       250,000  
      04/25/2001       250,000  
      07/27/2001       250,000  
      10/25/2001       250,000  
      05/20/2002       250,000  
      08/27/2002       250,000  
      01/10/2003       250,000  
      07/10/2003       250,000  
      11/10/2003       250,000  
      04/14/2004       250,000  
Telesoft II QP, L.P.
     03/16/2001       186,187  
      12/11/2002       56,522  
      12/09/2003       28,261  
      06/04/2004       56,522  
      12/10/2004       56,522  
      06/07/2006       48,652  
      04/13/2007       36,617  
Trident Capital Fund V, L.P.
     10/18/2000       156,907  
      06/26/2002       55,378  
      11/08/2002       55,378  
      01/15/2003       110,755  
      10/01/2003       56,032  
      12/05/2003       56,031  
      02/06/2004       56,031  
      06/10/2004       58,689  
      11/23/2004       59,496  
      01/28/2005       59,496  
      08/02/2005       35,697  
      10/17/2005       51,156  

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      07/05/2006       55,487  
      03/26/2007       69,655  
      07/06/2007       42,078  
 (g)  The Fund invests in certain private placements that may require additional funding. The issuer of the private placement may also permanently reduce the outstanding funding at any time. At September 30, 2007, the Fund had total commitments to contribute $952,635 to various issuers when and if required.
 
 (h)  Includes ownership interest in TeleSoft Partners II SBIC, L.P., which has no independent value.
 
 (i)  The Advisor is also the investment advisor to the Institutional Money Market Fund, an affiliated fund.
 
 (j)  At September 30, 2007, aggregate gross unrealized appreciation for all securities for which there was an excess of value over financial reporting cost was $2,113,792, aggregate gross unrealized depreciation for all securities for which there was an excess of financial reporting cost over value was $5,933,273 and net depreciation for financial reporting purposes was $3,819,481. At September 30, 2007, aggregate cost for financial reporting purposes was $22,199,005.
 
 (k)  In September 2006, Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”), was issued and is effective for fiscal years beginning after November 15, 2007. SFAS 157 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Management is currently evaluating the impact, if any, that the adoption of SFAS 157 will have on the Fund’s financial statements and related disclosures.
 (l)  On August 14, 2007, the Board of Trustees approved a merger of the Fund with and into the Munder Internet Fund, a series of Munder Series Trust, subject to approval by shareholders of the Fund at a Special Meeting called for December 6, 2007.
ABBREVIATION:
ADR — American Depositary Receipt

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At September 30, 2007, the country diversification (based on the country in which the company’s headquarters is located) of the Fund was as follows (assume United States unless otherwise indicated):
                 
    % of    
    Net Assets   Value
     
COMMON STOCKS:
United States
     64.4 %   $ 11,766,496  
China
     8.2       1,500,006  
South Korea
     1.3       235,154  
Brazil
     1.2       212,670  
Israel
     1.0       188,850  
Canada
     1.0       176,931  
Taiwan
     0.8       150,883  
Sweden
     0.6       103,480  
India
     0.6       101,688  
             
TOTAL COMMON STOCKS
     79.1       14,436,158  
LIMITED PARTNERSHIPS
     19.2       3,505,128  
PREFERRED STOCK
     1.6       292,044  
INVESTMENT COMPANY SECURITY
     0.8       146,194  
             
TOTAL INVESTMENTS
     100.7 %   $ 18,379,524  
             

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Item 2. Controls and Procedures.
(a) Within 90 days of the filing date of this Form N-Q, John S. Adams, the registrant’s President and Principal Executive Officer, and Peter K. Hoglund, the registrant’s Vice President and Principal Financial Officer, reviewed the registrant’s disclosure controls and procedures as defined in Rule 30a-3(c) of the Investment Company Act of 1940 (the “Procedures”) and evaluated their effectiveness. Based on their review, Mr. Adams and Mr. Hoglund determined that the Procedures adequately ensure that information required to be disclosed by the registrant in reports on Form N-Q filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods required by the Securities and Exchange Commission.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
The certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) are attached hereto.

 

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
THE MUNDER @VANTAGE FUND
 		    
By:   /s/ John S. Adams      
  John S. Adams     
  President and Principal Executive Officer     
 
Date: November 28, 2007
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
         
     
By:   /s/ John S. Adams      
  John S. Adams     
  President and Principal Executive Officer     
 
Date: November 28, 2007
         
     
By:   /s/ Peter K. Hoglund      
  Peter K. Hoglund     
  Vice President and Principal Financial Officer     
 
Date: November 28, 2007

 

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Exhibit Index
         
Exhibit No.   Description
       
 
  99.1    
The certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) are attached hereto.

EX-99.1 2 k19084exv99w1.htm CERTIFICATIONS REQUIRED BY RULE 30A-2(A) exv99w1
 

I, John S. Adams, President and Principal Executive Officer of The Munder @Vantage Fund, certify that:
1.   I have reviewed this report on Form N-Q of The Munder @Vantage Fund;
 
2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.   Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
 
4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
  (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.   The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: November 26, 2007
         
By:   /s/ John S. Adams      
  John S. Adams     
  President and Principal Executive Officer     

 

 

         
I, Peter K. Hoglund, Vice President and Principal Financial Officer of The Munder @Vantage Fund, certify that:
1.   I have reviewed this report on Form N-Q of The Munder @Vantage Fund;
 
2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.   Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
 
4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
  (a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
  (b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
  (c)   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
 
  (d)   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.   The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
  (a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
  (b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: November 26, 2007
         
By:   /s/ Peter K. Hoglund      
  Peter K. Hoglund     
  Vice President and Principal Financial Officer     
 

 

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