SEC NEWS DIGEST Issue 2005-59 March 29, 2005 COMMISSION ANNOUNCEMENTS SEC’S OFFICE OF THE CHIEF ACCOUNTANT AND DIVISION OF CORPORATION FINANCE RELEASE STAFF ACCOUNTING BULLETIN 107 The U.S. Securities and Exchange Commission’s Office of the Chief Accountant and its Division of Corporation Finance announced today the release of a Staff Accounting Bulletin relating to the Financial Accounting Standards Board’s (FASB) accounting standard for stock options and other share-based payments. The interpretations in Staff Accounting Bulletin No. 107, “Share-Based Payment,” (SAB 107) express views of the SEC staff regarding the application of Statement of Financial Accounting Standards Statement No. 123 (revised 2004), Share- Based Payment (Statement 123R). Statement 123R was issued by the FASB on Dec. 16, 2004. Among other things, SAB 107 provides interpretive guidance related to the interaction between Statement 123R and certain SEC rules and regulations, as well as provides the staff’s views regarding the valuation of share-based payment arrangements for public companies. SAB 107 also reminds public companies of the importance of including disclosures within filings made with the SEC relating to the accounting for share-based payment transactions, particularly during the transition to Statement 123R. The SEC staff believes the interpretive guidance in SAB 107 will assist both public entities in applying the provisions of Statement 123R and investors and other users of financial statements in analyzing the information provided under that Statement. Chief Accountant Donald Nicolaisen stated, “The accounting for share- based compensation has long been controversial and the deliberations of the FASB which led to the issuance of Statement 123R were no exception. The discussions were extensive and far-reaching. Sincere and deeply- held views were voiced by those on all sides. In the end, the FASB had to make choices in determining the accounting appropriate for share- based compensation and the FASB expressed those conclusions in Statement 123R. The SEC staff has overseen this process and the FASB’s deliberations. I wish to express my personal thanks to all who provided input to the process. During the FASB deliberations and following, I and other members of the SEC staff have been asked a number of questions concerning implementation of the new standard. SAB 107 is being released today to respond to the more frequently asked questions and to provide views of the SEC staff regarding other relevant matters. The views expressed by the staff are guidance and do not alter any conclusions reached by the FASB in Statement 123R. We will continue to monitor implementation of Statement 123R and will consider the need for additional guidance as necessary.” The statements in SABs are not rules or interpretations of the Commission, nor are they published as bearing the Commission’s official approval. They represent interpretations and practices followed by the Office of the Chief Accountant and the Division of Corporation Finance in administering the disclosure requirements of the Federal securities laws. (Press Rel. 2005-43) CHERYL LINTHICUM, MARK TAYLOR AND TERI YOHN NAMED ACADEMIC ACCOUNTING FELLOWS IN SEC OFFICE OF THE CHIEF ACCOUNTANT The Securities and Exchange Commission's Office of the Chief Accountant today announced the selection of Cheryl Linthicum, Mark Taylor and Teri Yohn as Academic Accounting Fellows for one-year terms that begin August 2005. Cheryl Linthicum is an Associate Professor of Accounting at the University of Texas at San Antonio where she teaches financial and international accounting at the undergraduate, executive MBA and PhD levels. Cheryl earned a PhD from Oklahoma State University and a MBA from Pittsburg State University. Her research interests have been focused on international accounting issues, including the application of International Financial Reporting Standards (IFRS) and the value relevance of 20-F reconciliations. Her publications appear in a number of journals including The CPA Journal, Strategic Finance, Multinational Business Review and Journal of International Financial Management and Accounting. She currently serves as Associate Editor for the Journal of International Accounting Research. Mark Taylor is the John P. Begley Endowed Chair in Accounting at Creighton University in Omaha, Neb., where he has been a faculty member since 2002. He has also held faculty appointments at Brigham Young University, the University of South Carolina and the University of Nebraska-Lincoln. Mark received his PhD from the University of Arizona in 1994 and also earned his Master of Accountancy and Bachelor of Science degrees from BYU. His research interests are primarily in the area of auditing. He has done studies in the areas of auditor independence, audit pricing, auditor industry specialization, and forensic auditing. His publications appear in the top auditing research journals including the Contemporary Accounting Research, Auditing: A Journal of Practice and Theory, Accounting Horizons and The International Journal of Auditing. Teri Yohn is an Associate Professor at Georgetown University, where she has taught since receiving her PhD from Indiana University in 1991. Teri also has a Bachelor of Science degree from the University of Delaware. Teri’s research has focused on financial accounting issues. Her studies have examined a variety of topics including management forecasting, cash flows, information asymmetry, and restatements. Her research has been published in the top accounting journals including The Accounting Review, Journal of Accounting Research, Accounting Horizons, and Review of Accounting Studies. At the Commission, the Academic Accounting Fellow serves as a research resource for the staff by interpreting and communicating research materials as they relate to various areas of interest to the SEC. In addition, the Academic Fellow has been assigned to ongoing projects in the Chief Accountant's office that include rulemaking, liaison with the professional accounting standards-setting bodies and consultation with registrants on accounting, auditing, independence and reporting matters. Linthicum, Taylor, and Yohn replace the current Academic Accounting Fellows, Jonathan Glover, who will return as a Full Professor of Accounting to the Carnegie Mellon University, and Audrey Gramling, who has recently accepted a position as an Associate Professor at Kennesaw State University. (Press Rel. 2005-44) ENFORCEMENT PROCEEDINGS COMMISSION SUSPENDS FORMER PARTNER OF ARTHUR ANDERSEN LLP FROM APPEARING OR PRACTICING BEFORE THE COMMISSION FOR IMPROPER PROFESSIONAL CONDUCT RELATING TO QWEST COMMUNICATIONS INTERNATIONAL INC. On March 29, the Commission issued an Order Instituting Public Administrative Proceedings Pursuant to Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Mark M. Iwan, former global managing partner of Arthur Andersen LLP, the outside auditor for Qwest Communications International Inc. (Qwest), from 1999 to 2002. The Order finds that Iwan engaged in improper professional conduct within the meaning of Rule 102(e)(1)(ii) of the Commission’s Rules of Practice by engaging in repeated instances of unreasonable conduct in which (1) he failed to conduct the 1999 and 2000 audits of Qwest in accordance with generally accepted auditing standards (GAAS) when he signed the audit reports for inclusion in Qwest’s Forms 10-K and failed to ensure that Qwest included all required disclosures under generally accepted accounting principles (GAAP) concerning irrevocable rights of use (IRUs) and capital equipment sales; and (2) he failed to conduct the 1999 through 2001 audits of Qwest in accordance GAAS when he failed to ensure that the audit team obtained sufficient competent evidential matter to support Qwest management’s false representations that Qwest’s accounting for IRUs was in accordance with GAAP. Each instance of unreasonable conduct resulted in a violation of applicable professional standards that indicated a lack of competence to practice before the Commission. Based on the above, the Order denies Iwan the privilege of appearing or practicing before the Commission as an accountant; after five years from the date of the Order, Iwan may request that the Commission consider his reinstatement by submitting an application to resume appearing or practicing before the Commission. Iwan undertakes to cooperate in any related judicial or administrative proceeding or investigation commenced by the Commission or to which the Commission is a party. Iwan consented to the issuance of the Order without admitting or denying any of the findings in the Order. (Rel. 34-51442; AAE Rel. 2220; File No. 3-11875) ORDER ENTERED DIRECTING DISTRIBUTION OF DISGORGEMENT AND PENALITY FUNDS COLLECTED IN SEC ENFORCEMENT ACTION On March 18, the Honorable Katharine S. Hayden, U.S. District Judge, District of New Jersey, entered an order approving the Commission’s plan to distribute disgorgement, prejudgment interest, and civil penalties paid by defendants Measurement Specialties, Inc. (MSI) and Kirk J. Dischino in connection with the defendants’ settlement of the Commission’s civil enforcement action against them. The distribution plan provides for the establishment of a distribution fund in the amount of $1,453,401 plus accrued interest, and the appointment of Berdon Claims Administration LLC, the claims administrator of the settlement distribution fund in In re Measurement Specialties, Inc. Securities Litigation, 02 Civ. 1071 (D.N.J.) (KSH) (MSI Class Action), as the Commission’s special agent to administer the distribution fund. The Commission’s plan further provides that after the special agent has filed tax returns, all of the money in the distribution fund, less taxes, court administrative costs, and related expenses, will be distributed on a pro rata basis to the class members who have qualified to receive funds under the class allocation plan approved by the court in the MSI Class Action. Questions regarding the distribution plan should be directed to Michael Rosenbaum of Berdon Claims Administration LLC, P.O. Box 9014, Jericho, NY 11753. On June 28, 2004, the Commission filed the action, charging MSI with accounting fraud, and its former chief financial officer, Dischino, with accounting fraud and insider trading. Both defendants agreed to settle the Commission’s charges, without admitting or denying the allegations. Pursuant to the terms of the final consent judgment entered against them, MSI paid $1 in disgorgement and a $1 million civil penalty, and Dischino paid disgorgement and a civil penalty totaling in excess of $450,000. Dischino also agreed to be suspended from appearing or practicing before the Commission as an accountant. [SEC v. Measurement Specialties, Inc. and Kirk J. Dischino, Civil Action No. 04 Civ. 3000 (KSH), USDC, DNJ] (LR-19158) SEC CHARGES 7 FORMER IMPATH EXECUTIVES WITH FINANCIAL FRAUD On March 29, the Commission filed a civil injunctive action in the U.S. District Court for the Southern District of New York charging seven former executives of IMPATH Inc. (Impath) with securities fraud and related violations. One defendant has agreed to settle the Commission’s charges by paying a total of over $250,000 in disgorgement and civil penalties and consenting to permanent injunctive relief. The SEC’s complaint alleges that from 1999 until 2003, the defendants engaged in fraudulent accounting practices and undisclosed self-dealing in violation of the applicable proxy rules. As a result of the accounting fraud, Impath falsely reported multimillion dollar profits when it had actually suffered huge losses. To meet financial projections and boost Impath’s stock price, the defendants made, or directed others to make, phony accounting entries that artificially increased revenue and improperly reduced operating expenses. Formerly based in New York City, Impath was a public company that provided diagnostic and other laboratory services used in the treatment of cancer and its stock was traded on the Nasdaq National Market. Impath filed for bankruptcy in September 2003 and is in the process of being liquidated. The Commission’s complaint names the following defendants who worked at Impath during the relevant period: Anuradha D. Saad, age 48, former CEO and Chairman of the Board; Richard P. Adelson, age 39, former COO and President; David J. Cammarata, age 40, former CFO; Peter Torres, age 35, former Senior Vice President of Corporate Finance; Robert McKie, age 40, former Vice President, Finance and Operations at Impath Predictive Oncology, Inc.; Karin Gardner, age 33, former Controller; Kenneth Jugan, age 43, former National Billing Director The complaint alleges that the defendants engaged in a fraudulent scheme to inflate Impath’s financial results, including revenue and net income, without any regard for generally accepted accounting principles or their financial reporting obligations. Saad, Adelson and Cammarata directed the fraud, while Torres, McKie, Gardner and Jugan implemented the accounting schemes. Torres, Gardner and Jugan were senior members of Impath’s corporate finance department and implemented the fraud by making, and directing members of their staff to make, the improper journal entries needed to carry out the scheme. Each quarter, Torres conferred with Saad, Adelson or Cammarata about the gap between actual and projected results, and they told Torres how much phony revenue they wanted the finance department to record. McKie was in charge of Predictive Oncology, one of Impath’s subsidiaries, and together with other defendants, he fraudulently capitalized his unit’s operating expenses to inflate net income and recognized revenue on a large transaction that never occurred. Each defendant also engaged in misconduct designed to deceive Impath’s outside auditor and conceal the fraud. While the accounting fraud was occurring, Saad, Adelson and Cammarata also engaged in undisclosed self-dealing. Not only did they exercise stock options and sell Impath stock during the fraud, they used over $850,000 in corporate funds to pay for option exercises without obtaining board approval or making the required proxy statement disclosures. Saad also used corporate funds to pay for other personal expenses without the requisite approval or disclosure, including vacations, country club dues and artwork. The Commission’s complaint alleges that by engaging in this conduct, the defendants violated the antifraud provisions of the federal securities laws and are secondarily liable for Impath’s violations of reporting, record-keeping, internal control and proxy solicitation provisions. Specifically, the complaint alleges that each defendant violated Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5 and 13b2-1. In addition, each defendant is alleged to be liable for Impath’s violations of Sections 13(a) and 13(b)(2) of the Exchange Act and Rules 12b-20, 13a-1 and 13a-13. Saad, Adelson, Cammarata and Torres are alleged to have also violated Section 17(a) of the Securities Act of 1933 (Securities Act), and to have made, or directed others to make, false statements to Impath’s accountants in violation of Exchange Act Rule 13b2-2. Saad, Adelson and Cammarata are also alleged to be liable for Impath’s violations of Section 14(a) of the Exchange Act and Rules 14a-3 and 14a-9. Finally, the complaint alleges that Saad also violated Exchange Act Rule 13a-14. The complaint seeks final judgments enjoining violations of these provisions of the federal securities laws; ordering all defendants to pay disgorgement and civil money penalties; and barring Saad, Adelson, Cammarata and Torres from acting as an officer or director of any public company. McKie, without admitting or denying the allegations in the complaint, has agreed to: (i) a permanent injunction against future violations of the relevant antifraud, reporting, books and records and internal controls provisions of the federal securities laws; (ii) disgorgement of the $100,000 in performance bonuses he received as result of the conduct alleged in the complaint, plus prejudgment interest; and (iii) a civil penalty in the amount of $150,000. The Commission’s claims against the other defendants are pending. The Commission acknowledges the assistance and cooperation of the U.S. Attorney’s Office for the Southern District of New York and the Federal Bureau of Investigation in this matter. [SEC v. Anuradha D. Saad, Richard P. Adelson, David J. Cammarata, Peter Torres, Robert McKie, Karin Gardner and Kenneth Jugan, 05 CV 03308, SDNY, LTS] (LR-19159; AAE Rel. 2219) ADDITIONS AND CORRECTIONS The Accounting and Auditing release number was omitted from an article in the March 25th issue of the Digest, entitled “SEC FILES FINANCIAL FRAUD ACTION AGAINST FORMER SENIOR OFFICERS OF IGO CORPORATION”. The number is AAE Rel. 2218. SELF-REGULATORY ORGANIZATIONS APPROVAL OF A PROPOSED RULE CHANGES The Commission approved a proposed rule change (SR-DTC-2004-12) filed by The Depository Trust Company to revise its fees for low volume tender offers. Publication of the order is expected in the Federal Register during the week of April 4, 2005. (Rel. 34-51439) The Commission approved a proposed rule change (SR-FICC-2004-23) filed by the Fixed Income Clearing Corporation to change the notice period required for the closing of a participant account or the withdrawing from membership in its Mortgage-Backed Securities Division. Publication of the order is expected in the Federal Register during the week of April 4, 2005. (Rel. 34-51440) 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: . SB-2 Chembio Diagnostics Inc., 3661 HORSEBLOCK ROAD, MEDFORD, NY, 11763, (631) 924-1135 - 19,439,756 ($15,163,010.00) Equity, (File 333-123600 - Mar. 28) (BR. 01) S-8 INPHONIC INC, 1010 WISCONSIN AVE, SUITE 600, WASHINGTON, DC, 20007, 2023330001 - 0 ($229,075,522.24) Equity, (File 333-123601 - Mar. 28) (BR. 37) S-8 FRANKLIN COVEY CO, 2200 W PKWY BLVD, SALT LAKE CITY, UT, 84119-2331, 8018177171 - 1,300,000 ($2,990,000.00) Equity, (File 333-123602 - Mar. 28) (BR. 05) S-3 MIDWEST BANC HOLDINGS INC, 501 W NORTH AVE, MELROSE PARK, IL, 60160, 7088651053 - 0 ($100,000,000.00) Other, (File 333-123603 - Mar. 28) (BR. 07) S-1 DreamWorks Animation SKG, Inc., GRANDVIEW BUILDING, 1000 FLOWER STREET, GLENDALE, CA, 91201, (818) 695-5000 - 0 ($575,000,000.00) Equity, (File 333-123604 - Mar. 28) (BR. 05) S-B LANDESKREDITBANK BADEN WURTTEMBERG FORDERBANK, SCHLOSSPLATZ 10, KARLSRUHE, 2M, 76131, 497211500 - 5,000,000 ($5,000,000,000.00) Non-Convertible Debt, (File 333-123605 - Mar. 28) (BR. DN) S-8 Symmetry Medical Inc., 220 WEST MARKET STREET, WARSAW, IN, 46580, 574-268-2252 - 0 ($5,880,000.00) Equity, (File 333-123607 - Mar. 28) (BR. 36) S-8 Symmetry Medical Inc., 220 WEST MARKET STREET, WARSAW, IN, 46580, 574-268-2252 - 0 ($35,306,810.90) Equity, (File 333-123609 - Mar. 28) (BR. 36) S-8 Symmetry Medical Inc., 220 WEST MARKET STREET, WARSAW, IN, 46580, 574-268-2252 - 0 ($11,760,000.00) Equity, (File 333-123610 - Mar. 28) (BR. 36) SB-2 FUTURA PICTURES, INC., 17337 VENTURA BLVD., SUITE 208, ENCINO, CA, 91316, 818-759-1876 - 3,000,000 ($600,000.00) Equity, (File 333-123611 - Mar. 28) (BR. 09) S-3 CAMDEN PROPERTY TRUST, 3 GREENWAY PLAZA, SUITE 1300, HOUSTON, TX, 77046, 7133542500 - 0 ($79,747,306.00) Equity, (File 333-123612 - Mar. 28) (BR. 08) S-8 RAVEN MOON ENTERTAINMENT INC, 120 INTERNATIONAL PARKWAY, SUITE 220, HEATHROW, FL, 32746, 278,000,000 ($278,000.00) Equity, (File 333-123613 - Mar. 28) (BR. 05) S-4 PAHC HOLDINGS CORP, 65 CHALLENGER ROAD, RIDGEFIELD PARK, NJ, 07660, 201-329-7300 - 0 ($29,000,000.00) Non-Convertible Debt, (File 333-123614 - Mar. 28) (BR. ) S-8 ACURA PHARMACEUTICALS, INC, 616 N. NORTH COURT, SUITE 120, PALATINE, IL, 60067, 847-705-7709 - 11,900,000 ($3,027,995.60) Equity, (File 333-123615 - Mar. 28) (BR. 01) S-8 SRI SURGICAL EXPRESS INC, 12425 RACETRACK ROAD, TAMPA, FL, 33626, 8138919550 - 500,000 ($2,400,000.00) Equity, (File 333-123616 - Mar. 28) (BR. 37) S-8 NORTH STATE BANCORP, 6200 FALLS OF NEUSE RD, RALEIGH, NC, 27609, 9198559925 - 0 ($419,700.00) Equity, (File 333-123617 - Mar. 28) (BR. 07) S-3 EMERGE INTERACTIVE INC, 10305 102ND TERRACE, SEBASTIAN, FL, 32958, 5615897331 - 8,961,836 ($8,289,698.30) Equity, (File 333-123618 - Mar. 28) (BR. 08) S-3 GENETRONICS BIOMEDICAL CORP, 11199 SORRENTO VALLEY RD, SAN DIEGO, CA, 92121, 6195976006 - 0 ($15,949,443.00) Equity, (File 333-123619 - Mar. 28) (BR. 36) S-8 NORTH STATE BANCORP, 6200 FALLS OF NEUSE RD, RALEIGH, NC, 27609, 9198559925 - 0 ($1,458,447.00) Equity, (File 333-123620 - Mar. 28) (BR. 07) S-8 DELTA & PINE LAND CO, ONE COTTON ROW, SCOTT, MS, 38772, 6017423351 - 4,500,000 ($116,505,000.00) Equity, (File 333-123621 - Mar. 28) (BR. 04) S-4 WILLOW GROVE BANCORP INC/NEW, WELSH & NORRISTWN ROADS, PENNSYLVANIA, PA, 19002, 2156465405 - 0 ($90,736,913.00) Equity, (File 333-123622 - Mar. 28) (BR. 07) SB-2 UNITY WIRELESS CORP, 1800337664 - 13,731,929 ($2,334,427.93) Equity, (File 333-123623 - Mar. 28) (BR. 37) S-8 FLORIDA EAST COAST INDUSTRIES INC, ONE MALAGA STREET, ST AUGUSTINE, FL, 32084, 9043966600 - 105,500 ($4,560,765.00) Equity, (File 333-123624 - Mar. 28) (BR. 05) F-1 Gol Intelligent Airlines Inc., RUA TAMOIOS 246, JARDIM AEROPORTO, S?O PAULO, D5, 04630-000, 55 11 5033-4226 - 23,460,000 ($327,736,200.00) Equity, (File 333-123625 - Mar. 28) (BR. ) SB-2 COMPUTER SOFTWARE INNOVATIONS INC, 1661 EAST MAIN STREET, EASLEY, SC, 29640, 8648553900 - 14,435,472 ($68,568,492.00) Equity, (File 333-123626 - Mar. 28) (BR. 09) S-8 MGIC INVESTMENT CORP, 250 E KILBOURN AVE, MILWAUKEE, WI, 53202, 4143476480 - 1,000,000 ($61,165,000.00) Equity, (File 333-123627 - Mar. 28) (BR. 01) S-3 NAVTEQ CORP, 222 MERCHANDISE MART PLAZA, THE MERCHANDISE MART STE. 900, CHICAGO, IL, 60654, 312-894-7000 - 0 ($1,517,694,834.00) Equity, (File 333-123628 - Mar. 28) (BR. 03) S-3 DELTA AIR LINES INC /DE/, HARTSFIELD ATLANTA INTL AIRPORT, 1030 DELTA BLVD, ATLANTA, GA, 30354-1989, 4047152600 - 0 ($500,000,000.00) Unallocated (Universal) Shelf, (File 333-123629 - Mar. 28) (BR. 05) S-4 NANOMETRICS INC, 1550 BUCKEYE DRIVE, MILPITAS, CA, 95035, 408-435-9600 - 0 ($237,531,056.00) Equity, (File 333-123630 - Mar. 28) (BR. 36) S-4 NSP HOLDINGS LLC, 2211 YORK ROAD, SUITE 215, OAK BROOK, IL, 60523, 0 ($162,524,193.00) Other, (File 333-123631 - Mar. 28) (BR. ) 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 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 ------------------------------------------------------------------------------------------------ 3COM CORP DE 3.03,5.03,9.01 03/23/05 ABN AMRO MORTGAGE CORP DE 8.01,9.01 03/28/05 ABN AMRO MORTGAGE CORP DE 8.01,9.01 03/28/05 ACADIA REALTY TRUST MD 8.01 03/22/05 ACTION PRODUCTS INTERNATIONAL INC FL 5.02,9.01 03/25/05 ADSOUTH PARTNERS, INC. NV 7.01,9.01 03/24/05 ADVOCAT INC DE 2.02,9.01 03/28/05 AIRNET COMMUNICATIONS CORP DE 2.02 03/28/05 ALANCO TECHNOLOGIES INC AZ 1.01 12/31/04 ALICO INC FL 5.02 03/28/05 ALL AMERICAN SEMICONDUCTOR INC DE 2.02,9.01 03/28/05 Alternative Loan Trust 2005-4 9.01 03/25/05 ALTERNATIVE LOAN TRUST 2005-6CB 9.01 03/25/05 ALTERNATIVE LOAN TRUST 2005-7CB 9.01 03/25/05 AMERICAN COMMUNITY BANCSHARES INC NC 7.01,9.01 03/28/05 AMERICAN ENERGY PRODUCTION INC 8.01 03/25/05 AMERICAN LEISURE HOLDINGS INC NV 4.01,9.01 08/25/04 AMERISOURCEBERGEN CORP DE 8.01,9.01 03/28/05 AMERISTAR CASINOS INC NV 1.01,9.01 03/24/05 Ames True Temper, Inc. DE 1.01,9.01 03/28/05 AMSURG CORP TN 7.01,9.01 03/24/05 ANHEUSER-BUSCH COMPANIES, INC. DE 8.01 03/23/05 AP HENDERSON GROUP NV 1.02,4.02,5.01,5.02,5.03,8.01 03/21/05 APHTON CORP DE 2.01,3.02,5.03,8.01,9.01 03/22/05 APPLEBEES INTERNATIONAL INC DE 4.02,9.01 03/23/05 ARCADIA RESOURCES, INC NV 1.01,3.02,9.01 03/22/05 ARIZONA LAND INCOME CORP AZ 5.03,8.01,9.01 03/22/05 ARVINMERITOR INC IN 5.02 03/28/05 ASPEN TECHNOLOGY INC /DE/ DE 7.01 03/23/05 ASTEA INTERNATIONAL INC DE 2.02,9.01 03/28/05 ATLAS AIR WORLDWIDE HOLDINGS INC DE 1.01,9.01 03/28/05 AVISTAR COMMUNICATIONS CORP DE 4.01,9.01 03/22/05 Banc of America Alternative Loan Trus DE 8.01,9.01 03/25/05 BANC OF AMERICA FUNDING CORP DE 9.01 03/28/05 Banc of America Funding Corp. 2004-5 DE 8.01,9.01 12/29/04 Banc of America Funding Corp. 2005-1 DE 8.01,9.01 01/28/05 BANC OF AMERICA MORTGAGE SECURITIES I DE 8.01,9.01 03/28/05 BEAR STEARNS ARM TRUST, MORTGAGE PASS DE 8.01,9.01 09/27/04 AMEND BEAR STEARNS ARM TRUST, MORTGAGE PASS DE 8.01,9.01 10/25/04 AMEND BEAR STEARNS ASSET BACKED SECURITIES DE 8.01,9.01 11/26/04 AMEND BEDFORD PROPERTY INVESTORS INC/MD MD 1.01 03/28/05 BGF INDUSTRIES INC DE 4.02,7.01 03/15/05 AMEND BLUE RIVER BANCSHARES INC IN 1.01,5.02,9.01 03/22/05 BMW FS SECURITIES LLC 8.01,9.01 03/23/05 BRESLER & REINER INC DE 5.02,9.01 03/23/05 BRODER BROS CO MI 2.02,9.01 03/28/05 BROWN JORDAN INTERNATIONAL INC FL 8.01 03/28/05 BRUSH ENGINEERED MATERIALS INC 8.01,9.01 03/28/05 AMEND BUCKLE INC NE 1.01,9.01 03/24/05 BUFFALO WILD WINGS INC MN 2.02,8.01,9.01 03/28/05 CABCO SERIES 2004-102 TRUST (SBC COMM DE 8.01,9.01 03/15/04 CANO PETROLEUM, INC 1.01,3.02,9.01 03/18/05 CAPTEC FRANCHISE CAPITAL PARTNERS L P DE 1.02,9.01 03/23/05 CARDIAC SCIENCE INC DE 8.01,9.01 03/28/05 CARMIKE CINEMAS INC DE 1.01,9.01 03/07/05 CEF EQUIPMENT HOLDING GE COMMERICAL E DE 8.01,9.01 03/21/05 CENTER FINANCIAL CORP CA 7.01,9.01 03/25/05 CENTURY ALUMINUM CO DE 7.01,9.01 03/24/05 CHAPEAU INC UT 3.02,9.01 03/22/05 CHARLES RIVER LABORATORIES INTERNATIO 7.01,9.01 03/28/05 China Health Holding, Inc. NV 1.01,3.02,5.02,8.01,9.01 03/28/05 CHL MORTGAGE PASS-THROUGH TRUST 2005- DE 9.01 03/25/05 CHL Mortgage Pass-Through Trust 2005- DE 9.01 03/25/05 CHL Mortgage Pass-Through Trust 2005- DE 9.01 03/25/05 CHYRON CORP NY 2.03,8.01,9.01 03/22/05 CHYRON CORP NY 7.01,9.01 03/28/05 CITICORP MORTGAGE SECURITIES INC DE 2.01 03/28/05 CKE RESTAURANTS INC DE 1.01 03/22/05 COACHMEN INDUSTRIES INC IN 7.01,9.01 03/28/05 COGNITRONICS CORP NY 2.02 03/24/05 COMMUNITY BANKSHARES INC /SC/ SC 1.01 03/22/05 COMMUNITY FINANCIAL CORP /VA/ VA 1.01 03/23/05 COMPUTER SOFTWARE INNOVATIONS INC DE 8.01,9.01 03/28/05 COMSTOCK RESOURCES INC NV 1.01,7.01,9.01 03/24/05 COMSYS IT PARTNERS INC DE 2.02,9.01 03/28/05 COMSYS IT PARTNERS INC DE 7.01 03/28/05 CONVERA CORP DE 2.03 03/22/05 Cord Blood America, Inc. FL 1.01,2.02,9.01 03/28/05 CORVU CORP MN 1.02,5.02 03/22/05 COVER ALL TECHNOLOGIES INC DE 2.02,9.01 03/28/05 CRDENTIA CORP DE 1.01,8.01,9.01 03/22/05 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE 8.01,9.01 03/25/05 CROSSROADS SYSTEMS INC DE 1.01,9.01 03/22/05 CURTISS WRIGHT CORP DE 8.01,9.01 03/28/05 CWABS INC DE 8.01,9.01 03/24/05 CWALT INC - ALTERNATIVE LOAN TRUST 20 9.01 03/25/05 CWALT INC - ALTERNATIVE LOAN TRUST 20 9.01 03/25/05 CWALT, INC. - Alternative Loan Trust 9.01 03/25/05 CWALT, Inc. Alternative Loan Trust 20 9.01 03/25/05 CWALT, Inc. Alternative Loan Trust 20 9.01 03/25/05 CWMBS INC - CHL MORTGAGE PASS-THROUGH DE 9.01 03/25/05 CWMBS INC - CHL MORTGAGE PASS-THROUGH DE 9.01 03/25/05 CWMBS INC - CHL MORTGAGE PASS-THROUGH DE 9.01 03/25/05 CWMBS, INC. - CHL Mortgage Pass-Throu DE 9.01 03/25/05 CWMBS, Inc. - CHL Mortgage Pass-Throu DE 9.01 03/25/05 Cyberkinetics Neurotechnology Systems DE 1.01,5.02,9.01 03/24/05 CYTOKINETICS INC 1.01 03/24/05 DATA SYSTEMS & SOFTWARE INC DE 1.01 03/22/05 DATA SYSTEMS & SOFTWARE INC DE 8.01,9.01 03/28/04 DATIGEN COM INC UT 1.01,2.01,3.02,5.01,5.02,9.01 03/23/04 DAYTON SUPERIOR CORP OH 1.01 03/22/05 DIASYS CORP DE 3.01,9.01 03/24/05 DISTRIBUTED ENERGY SYSTEMS CORP DE 1.01 03/22/05 DOLLAR THRIFTY AUTOMOTIVE GROUP INC DE 1.01,9.01 03/22/05 DONNELLEY R R & SONS CO DE 5.02,5.03,9.01 03/24/05 DREW INDUSTRIES INC DE 8.01,9.01 03/24/05 DUPONT PHOTOMASKS INC DE 8.01 03/28/05 DYAX CORP DE 8.01,9.01 03/28/05 EATON CORP OH 7.01 03/28/05 EFUNDS CORP DE 5.02 03/23/05 EFUNDS CORP DE 1.01 03/23/05 EnerSys DE 1.01 03/28/05 ENUCLEUS INC DE 4.01 03/18/05 EPIMMUNE INC DE 2.02,8.01,9.01 03/28/05 EYE DYNAMICS INC NV 8.01,9.01 03/24/05 FARMERS & MERCHANTS BANCORP DE 4.01,9.01 03/28/05 AMEND FGI GROUP INC DE 8.01,9.01 03/28/05 FIELDSTONE INVESTMENT CORP 7.01,9.01 03/28/05 FINANCIAL INSTITUTIONS INC NY 5.02 03/22/05 FIRST HARTFORD CORP ME 2.01,2.03 03/28/05 FIRST HORIZON ASSET SECURITIES INC DE 8.01,9.01 03/28/05 FIRST HORIZON PHARMACEUTICAL CORP DE 4.01,7.01,9.01 03/22/05 FIRST INDUSTRIAL LP DE 4.02 03/22/05 FIRST INDUSTRIAL REALTY TRUST INC MD 4.02 03/22/05 FIRST NATIONAL BANC INC GA 5.02 03/21/05 FIRST UNION COMMERCIAL MORTGAGE SECUR NC 8.01,9.01 03/18/05 FIRSTWAVE TECHNOLOGIES INC GA 5.02 03/22/05 FRESH CHOICE INC DE 8.01 03/28/05 FRIEDMANS INC DE 2.02,9.01 03/28/05 GALLAGHER ARTHUR J & CO DE 1.01 03/22/05 GATX FINANCIAL CORP DE 8.01,9.01 03/28/05 GEORGIA BANK FINANCIAL CORP /GA GA 4.01,9.01 03/23/05 GEXA CORP TX 1.01,9.01 03/28/05 GLOBAL PAYMENT TECHNOLOGIES INC DE 3.02 03/28/05 GMH Communities Trust MD 1.01,9.01 03/22/05 GREENMAN TECHNOLOGIES INC DE 2.03,9.01 03/22/05 GREENWICH DSLA MORTGAGE LOAN TRUST 20 DE 8.01,9.01 03/21/05 HALOZYME THERAPEUTICS INC NV 8.01,9.01 03/28/05 HEALTH NET INC DE 7.01 03/28/05 HINES REAL ESTATE INVESTMENT TRUST IN 2.01,9.01 03/22/05 Home Equity Mortgage Loan Asset Backe DE 2.01,9.01 03/11/05 HORIZON FINANCIAL CORP WA 1.01,9.01 03/22/05 HORIZON FINANCIAL CORP WA 8.01,9.01 03/22/05 Huntsman CORP DE 5.02 03/23/05 IAC/INTERACTIVECORP DE 8.01 03/28/05 IKON OFFICE SOLUTIONS INC OH 1.01,9.01 03/24/05 IMMERSION CORP DE 8.01,9.01 03/24/05 INFONOW CORP / DE 1.01,1.02,9.01 03/22/05 INFOSPACE INC DE 8.01,9.01 03/28/05 INFRASOURCE SERVICES INC DE 2.02,9.01 11/15/04 AMEND INFRASOURCE SERVICES INC DE 2.02,9.01 03/11/05 AMEND INPUT OUTPUT INC DE 8.01 03/28/05 INTERMET CORP GA 7.01,9.01 03/28/05 INTERNATIONAL BUSINESS MACHINES CORP NY 7.01 03/28/05 INTERSECTIONS INC DE 2.02,9.01 02/14/05 AMEND INTERVOICE INC TX 2.02,7.01,9.01 03/22/05 IPASS INC DE 1.01 03/23/05 KEMET CORP DE 5.02 03/28/05 KEYCORP STUDENT LOAN TRUST 1999 A 8.01,9.01 03/28/05 KFX INC DE 7.01 03/24/05 KNOT INC DE 8.01,9.01 03/28/05 KRISPY KREME DOUGHNUTS INC NC 1.01,9.01 03/25/05 LA JOLLA PHARMACEUTICAL CO DE 8.01,9.01 03/28/05 LADENBURG THALMANN FINANCIAL SERVICES FL 8.01 03/22/05 LARREA BIOSCIENCES CORP NV 8.01 10/18/04 AMEND LEAP WIRELESS INTERNATIONAL INC DE 1.01,9.01 12/31/04 LIFEPOINT HOSPITALS INC DE 8.01,9.01 03/28/05 LIGAND PHARMACEUTICALS INC DE 8.01,9.01 03/28/05 LORAL SPACE & COMMUNICATIONS LTD D0 8.01,9.01 03/22/05 LORAL SPACE & COMMUNICATIONS LTD D0 7.01 03/23/05 M&F BANCORP INC /NC/ NC 5.02 03/22/05 MAIN STREET BANKS INC /NEW/ GA 8.01,9.01 03/28/05 MAINSTREET BANKSHARES INC VA 1.01,2.01,8.01 03/23/05 MANDALAY RESORT GROUP NV 1.01,8.01,9.01 03/22/05 MARINE JET TECHNOLOGY CORP NV 8.01 03/24/05 MARKET CENTRAL INC DE 8.01,9.01 03/24/05 MATRIX BANCORP INC CO 1.01,9.01 03/23/05 McCormick & Schmicks Seafood Restaura 4.02,9.01 03/22/05 MCG CAPITAL CORP DE 5.03,9.01 03/23/05 MEDICINOVA INC DE 8.01,9.01 03/28/05 MEDIS TECHNOLOGIES LTD DE 8.01,9.01 03/23/05 MILLENNIUM CAPITAL VENTURE HOLDINGS I DE 2.01,9.01 03/28/05 MILLION DOLLAR SALOON INC NV 2.02,4.01 03/25/05 MNS EAGLE EQUITY GROUP III INC NV 4.01,9.01 12/15/04 MNS EAGLE EQUITY GROUP INC / NV 4.01,9.01 12/15/04 MOLECULAR DIAGNOSTICS INC DE 5.02,9.01 03/04/05 MOLEX INC DE 1.01,5.02,7.01,9.01 03/23/05 MONTEREY GOURMET FOODS DE 1.01,2.01,2.03,9.01 01/11/05 AMEND Morgan Stanley Capital I Trust 2005 I DE 8.01,9.01 03/15/05 MULTIBAND CORP MN 1.01 03/22/05 NanoSignal CORP NV 8.01 02/23/05 NATIONWIDE LIFE INSURANCE CO OH 8.01 03/28/05 Navistar Financial 2004-B Owner Trust 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 2 DE 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 20 DE 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 20 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 20 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 20 8.01,9.01 02/28/05 NAVISTAR FINANCIAL RETAIL REC CORP 20 8.01,9.01 02/28/05 NBC ACQUISITION CORP DE 4.02,9.01 03/24/05 NEBRASKA BOOK CO KS 4.02,9.01 03/24/05 NEOGEN CORP MI 2.02,9.01 03/24/05 NEWELL RUBBERMAID INC DE 2.02,7.01,9.01 03/28/05 NEWS AMERICA INC DE 8.01 03/28/05 NEWS AMERICA INC DE 8.01 03/28/05 NEWS CORP 7.01 03/28/05 NITTANY FINANCIAL CORP PA 8.01,9.01 03/24/05 Norcraft Holdings, L.P. DE 2.02,9.01 03/25/05 NOVADEL PHARMA INC DE 7.01,9.01 03/23/05 OLD SECOND BANCORP INC DE 8.01 03/28/05 ONEIDA LTD NY 5.02,8.01,9.01 03/22/05 OSK CAPITAL III CORP NV 2.01,9.01 03/28/05 OVERHILL FARMS INC NV 8.01 03/28/05 P COM INC DE 1.01,2.03,9.01 03/22/05 PanAmSat Holding CORP DE 1.01 03/22/05 PATHMARK STORES INC DE 1.01,3.02,9.01 03/23/05 PENNICHUCK CORP NH 1.01,2.03,9.01 03/22/05 PENTON MEDIA INC DE 2.02,4.02,9.01 03/24/05 PERRY ELLIS INTERNATIONAL INC FL 5.02 03/22/05 Petramerica Oil, Inc. CO 4.01,9.01 03/16/05 AMEND PETRO STOPPING CENTERS L P DE 2.02,9.01 03/25/05 PHONE1GLOBALWIDE INC DE 1.01 03/28/05 PINOAK INC /NV/ NV 8.01 03/25/05 PIONEER COMPANIES INC DE 2.02,9.01 03/28/05 PITNEY BOWES INC /DE/ DE 8.01,9.01 03/28/05 POWER 3 MEDICAL PRODUCTS INC NY 1.01,9.01 03/21/05 POWER2SHIP INC NV 1.01,9.01 03/21/05 PRICELINE COM INC DE 7.01 03/28/05 PROCENTURY CORP 1.01,7.01,9.01 03/22/05 PROVINCE HEALTHCARE CO DE 8.01,9.01 03/28/05 PVC CONTAINER CORP DE 4.01,9.01 03/24/05 QMED INC DE 2.02,9.01 03/28/05 RADIOLOGIX INC DE 1.01 03/22/05 RADNOR HOLDINGS CORP DE 7.01 03/28/05 RED ROBIN GOURMET BURGERS INC DE 8.01,9.01 03/28/05 REDWOOD MICROCAP FUND INC 7.01,8.01,9.01 03/28/05 REDWOOD MICROCAP FUND INC 7.01,8.01,9.01 03/28/05 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE 8.01,9.01 03/25/05 RESIDENTIAL ASSET SECURITIES CORP DE 8.01,9.01 03/28/05 RETRACTABLE TECHNOLOGIES INC TX 5.02 03/22/05 SAKS INC TN 8.01,9.01 03/24/05 SBE INC DE 1.01,8.01,9.01 03/28/05 SEITEL INC DE 1.01,8.01 03/07/05 SENTO CORP UT 1.01,9.01 03/22/05 SENTO CORP UT 7.01,9.01 03/28/05 SKREEM ENTERTAINMENT CORP DE 4.01,9.01 05/03/04 AMEND SOUTHERN CONNECTICUT BANCORP INC CT 8.01,9.01 03/23/05 SOUTHERN PERU COPPER CORP/ DE 8.01 03/28/05 SOYO GROUP INC NV 3.02 03/22/05 SPATIALIZER AUDIO LABORATORIES INC DE 1.01,9.01 03/28/05 STAKTEK HOLDINGS INC DE 8.01 03/28/05 STEELCASE INC MI 2.05,2.06,7.01 03/28/05 STERLING CONSTRUCTION CO INC DE 1.01 03/23/05 STEWART ENTERPRISES INC LA 8.01,9.01 03/28/05 STONEMOR PARTNERS LP DE 2.02 03/28/05 STRUCTURED PRODUCTS CORP TRUST SERIES DE 8.01,9.01 03/21/05 SUN HEALTHCARE GROUP INC DE 1.01,9.01 03/24/05 SUNGARD DATA SYSTEMS INC DE 1.01,3.03,8.01,9.01 03/27/05 SUNTRUST BANKS INC GA 2.02,7.01,9.01 03/28/05 Supcor, Inc. DE 2.01,9.01 12/31/04 SWANK, INC. DE 1.01,9.01 03/25/05 SYNNEX CORP DE 1.01 03/28/05 SYNOVUS FINANCIAL CORP GA 1.01 03/24/05 SYSTEMAX INC DE 7.01 03/25/05 TECHNOLOGY INVESTMENT CAPITAL CORP MD 8.01,9.01 03/28/05 Telesis Technology Corp 8.01 03/28/05 TENET HEALTHCARE CORP NV 5.02 03/28/05 TERAX ENERGY, INC. NV 5.01,5.02,5.03,8.01,9.01 03/15/05 THACKERAY CORP DE 2.02,9.01 03/28/05 TODD SHIPYARDS CORP WA 8.01 03/25/05 TOTAL SYSTEM SERVICES INC GA 1.01 03/24/05 Tower Group, Inc. DE 8.01,9.01 03/28/05 TOWER PROPERTIES CO MO 2.01 03/24/05 TRANSWITCH CORP /DE DE 2.05,7.01 03/25/05 TRIMOL GROUP INC DE 1.02,9.01 03/24/05 TRUSTREET PROPERTIES INC MD 1.01,2.03,9.01 03/23/05 TUESDAY MORNING CORP/DE DE 8.01 03/28/05 UINTAH MOUNTAIN COPPER COMPANY UT 4.01 03/22/05 UNIONBANCAL CORP CA 1.01,9.01 03/22/05 VALOR COMMUNICATIONS GROUP INC DE 1.01 03/22/05 VERITAS DGC INC DE 1.01 03/22/05 VERMONT PURE HOLDINGS LTD/DE DE 1.01,8.01 03/24/05 VERTEX INTERACTIVE INC NJ 1.01,2.01,2.03,3.02,9.01 01/11/05 AMEND VESTIN GROUP INC NV 5.02 03/24/05 VION PHARMACEUTICALS INC DE 8.01,9.01 03/28/05 VORNADO REALTY TRUST MD 1.01,9.01 03/22/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 8.01,9.01 03/28/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 8.01,9.01 03/28/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 8.01,9.01 03/28/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 8.01,9.01 03/28/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 8.01,9.01 03/28/05 WEBB INTERACTIVE SERVICES INC CO 5.02 03/25/05 WEST METRO FINANCIAL SERVICES INC 1.01,7.01,9.01 03/25/05 AMEND World Omni Auto Receivables Trust 200 DE 9.01 02/01/05 WORLDSPAN L P DE 2.02,9.01 03/28/05 XTO ENERGY INC DE 1.01,9.01 03/22/05