Sec Form 13D Filing - Fundamental Global Investors LLC filing for FG Group Holdings Inc. (FGH) - 2020-05-21

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

 

Under the Securities Exchange Act of 1934

(Amendment No. 17)*

 

BALLANTYNE STRONG, INC.

(Name of Issuer)

 

Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

058516105

(CUSIP Number)

 

D. Kyle Cerminara

Fundamental Global Investors, LLC

4201 Congress Street, Suite 140

Charlotte, North Carolina 28209

(704) 323-6851

 

With a copy to:

 

Derek D. Bork

Thompson Hine LLP

3900 Key Center

127 Public Square

Cleveland, Ohio 44114

(216) 566-5500

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

May 19, 2020

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

CUSIP No. 058516105 13D Page 2 of 18 Pages

 

1

NAME OF REPORTING PERSON

Fundamental Global Investors, LLC

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

North Carolina

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

4,271,425

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

5,762,311

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

5,762,311

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

39.3%

 
14

TYPE OF REPORTING PERSON

OO

 
         

 

 

 

 

CUSIP No. 058516105 13D Page 3 of 18 Pages

 

1

NAME OF REPORTING PERSON

Fundamental Global Partners Master Fund, LP

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

1,666,119

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,666,119

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

1,666,119

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

11.4%

 
14

TYPE OF REPORTING PERSON

PN

 
         

 

 

 

  

CUSIP No. 058516105 13D Page 4 of 18 Pages

 

1

NAME OF REPORTING PERSON

Fundamental Global Holdings, LP

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

853,619

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

853,619

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

853,619

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.8%

 
14

TYPE OF REPORTING PERSON

PN

 
         

 

 

 

 

CUSIP No. 058516105 13D Page 5 of 18 Pages

 

1

NAME OF REPORTING PERSON

FGI Global Asset Allocation Fund, Ltd.

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

34,911

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

34,911

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

34,911

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.2%

 
14

TYPE OF REPORTING PERSON

OO

 
         


 

 

 

CUSIP No. 058516105 13D Page 6 of 18 Pages


1

NAME OF REPORTING PERSON

FGI Global Asset Allocation Master Fund, LP

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

65,739

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

65,739

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

65,739

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.4%

 
14

TYPE OF REPORTING PERSON

PN

 
         


 

 

 

CUSIP No. 058516105 13D Page 7 of 18 Pages

 

1

NAME OF REPORTING PERSON

Fundamental Activist Fund I, LP

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

1,651,037

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,651,037

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

1,651,037

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

11.3%

 
14

TYPE OF REPORTING PERSON

PN

 
         


 

 

  

CUSIP No. 058516105 13D Page 8 of 18 Pages

 

1

NAME OF REPORTING PERSON

CWA Asset Management Group, LLC

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

OO

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

FL

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

0

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,490,886

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

1,490,886

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

10.2%

 
14

TYPE OF REPORTING PERSON

OO

 
         


 

 

  

CUSIP No. 058516105 13D Page 9 of 18 Pages

 

1

NAME OF REPORTING PERSON

Joseph H. Moglia

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

PF; AF

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

300,861

8

SHARED VOTING POWER

335,430

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

636,291

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

636,291

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.3%

 
14

TYPE OF REPORTING PERSON

IN

 
         

 

 

 

 

CUSIP No. 058516105 13D Page 10 of 18 Pages

 

1

NAME OF REPORTING PERSON

D. Kyle Cerminara

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

PF

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) &#x A0;
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

265,925(1)

8

SHARED VOTING POWER 

4,271,425

9

SOLE DISPOSITIVE POWER

160,206(2)

10

SHARED DISPOSITIVE POWER

5,762,311

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

5,922,517(3)

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

40.3%

 
14

TYPE OF REPORTING PERSON

IN

 
         

 

(1)Includes (i) 217,945 shares directly owned by Mr. Cerminara, (ii) 7,540 shares held in Mr. Cerminara’s 401(k) account, (iii) 11,220 shares held by Mr. Cerminara’s wife, (iv) 4,220 shares held by Mr. Cerminara’s minor children and (v) 25,000 shares potentially issuable to Mr. Cerminara upon the vesting of restricted stock units within 60 days of the filing of this Statement. Does not include 63,334 shares potentially issuable to Mr. Cerminara pursuant to grants of restricted stock units.

(2)Includes 26,000 shares purchasable pursuant to stock options that are exercisable within 60 days of the filing of this Statement and 25,000 shares potentially issuable to Mr. Cerminara upon the vesting of restricted stock units within 60 days of the filing of this Statement. Does not include 131,719 shares beneficially owned by Mr. Cerminara (including the 11,220 shares held by Mr. Cerminara’s wife and the 4,220 shares held by Mr. Cerminara’s children) that are held in CWA customer accounts. Does not include 63,334 shares potentially issuable to Mr. Cerminara pursuant to grants of restricted stock units.

(3)Includes 26,000 shares purchasable pursuant to stock options that are exercisable within 60 days of the filing of this Statement and 25,000 shares potentially issuable to Mr. Cerminara upon the vesting of restricted stock units within 60 days of the filing of this Statement.

 

 

 

 

CUSIP No. 058516105 13D Page 11 of 18 Pages

 

1

NAME OF REPORTING PERSON

Lewis M. Johnson

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY  
4

SOURCE OF FUNDS

PF

 
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

7

SOLE VOTING POWER

40,610(1)

8

SHARED VOTING POWER 

4,271,425

9

SOLE DISPOSITIVE POWER

32,110(1)(2)

10

SHARED DISPOSITIVE POWER

5,762,311

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON

5,794,421(1)

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

39.5%

 
14

TYPE OF REPORTING PERSON

IN

 
         

 

(1)Includes 8,187 shares potentially issuable to Mr. Johnson upon the vesting of restricted stock units within 60 days of the filing of this Statement. Does not include 16,376 shares potentially issuable to Mr. Johnson pursuant to grants of restricted stock units.

 

(2)Does not include 8,500 shares beneficially owned by Mr. Johnson that are held in CWA customer accounts.


 

 

 

CUSIP No. 058516105 13D Page 12 of 18 Pages

 

This Amendment No. 17 to Statement of Beneficial Ownership on Schedule 13D (this “Amendment No. 17”) amends the Statement of Beneficial Ownership on Schedule 13D filed by the Reporting Persons on September 3, 2014, as amended (this “Statement” or “Schedule 13D”), with respect to the Common Stock, par value $0.01 per share (the “Common Stock”), of Ballantyne Strong, Inc., a Delaware corporation (the “Company”). Capitalized terms used but not defined in this Amendment No. 17 shall have the meanings set forth in the Schedule 13D. Except as amended and supplemented by this Amendment No. 17, the Schedule 13D remains unchanged.

 

Item 2. Identity and Background.

 

On April 13, 2020, D. Kyle Cerminara, the Chief Executive Officer, Co-Founder and Partner of Fundamental Global Investors, LLC and Co-Chief Investment Officer of CWA, resigned from his position of Chief Executive Officer of the Company, effective immediately. Mr. Cerminara will continue to lead the Company’s Board of Directors in the role of Non-Executive Chairman. In addition, on March 23, 2020, Mr. Cerminara was designated as the principal executive officer of 1347 Property Insurance Holdings, Inc. (Nasdaq: PIH), which intends to operate as a diversified insurance, reinsurance and investment management holding company.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

The total cost for purchasing the Common Stock reported as owned by the Reporting Persons, including brokerage commissions, was approximately as follows: FGPM, $6,876,156; FGHP, $3,570,444; FGAA, $154,782; FGGM, $323,654; FAFI, $6,382,034; Mr. Moglia, $2,947,390; Mr. Cerminara (with respect to the shares acquired by him and his family members through the open market), $424,322; and Mr. Johnson (with respect to the shares acquired by him through the open market), $61,425. The source of these funds was working capital or personal funds, as applicable. The total cost for purchases by CWA’s customers reported in this Amendment No. 17 was approximately $3,564,259 (excluding shares held in CWA customer accounts for Messrs. Moglia, Cerminara and Johnson). The source of funds for the shares of Common Stock acquired for the accounts of CWA’s customers were funds of such customers. The cost for purchasing the shares held by Mr. Ferguson was approximately $4,618; the source of funds was personal funds.

 

Item 5. Interest in Securities of the Issuer.

 

(a)  The Reporting Persons beneficially own in the aggregate 5,954,627 shares of Common Stock, which represents approximately 40.5% of the Company’s outstanding shares of Common Stock.

 

Each percentage ownership of Common Stock set forth in this Statement is based on the 14,651,253 shares of Common Stock reported by the Company as outstanding as of May 8, 2020 in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the Securities and Exchange Commission on May 12, 2020.

 

(c) Transactions effected by FGPM and FAFI and customer accounts managed by CWA in the Common Stock within the past 60 days are set forth on Schedule A to this Statement. Each of these transactions was effected through the open market. In addition, on April 8, 2020, 1,000 shares of Common Stock were transferred into a customer account managed by CWA and, on April 30, 2020, 3,480 shares of Common Stock were transferred out of a customer account managed by CWA.

 

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the Reporting Persons have entered into an agreement with respect to the joint filing of this Amendment No. 17, which agreement is set forth on the signature page to this Statement.

 

 

 

 

CUSIP No. 058516105 13D Page 13 of 18 Pages

 

SIGNATURE

 

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct.

 

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of this Statement on Schedule 13D with respect to the Common Stock of the Company.

 

Dated: May 21, 2020

 

FUNDAMENTAL GLOBAL INVESTORS, LLC  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Chief Executive Officer, Partner and Manager  
   
FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP,  
by FG Partners GP, LLC, its general partner  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  
   
FUNDAMENTAL GLOBAL HOLDINGS, LP,  
by FGI Holdings GP, LLC, its general partner  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  
   
FGI GLOBAL ASSET ALLOCATION FUND, LTD.  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Director  
   
FGI GLOBAL ASSET ALLOCATION MASTER FUND, LP,  
by FGI Global Asset Allocation GP, LLC, its general partner  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  

 

 

 

 

CUSIP No. 058516105 13D Page 14 of 18 Pages

 

 

FUNDAMENTAL ACTIVIST FUND I, LP,  
by Fundamental Activist Fund I GP, LLC, its general partner  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  
   
FGI INTERNATIONAL USVI, LLC  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  
   
FGI FUNDS MANAGEMENT, LLC  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Manager  
   
CWA ASSET MANAGEMENT GROUP, LLC  
   
/s/ D. Kyle Cerminara  
D. Kyle Cerminara  
Co-Chief Investment Officer  
   
JOSEPH MOGLIA  
   
/s/ Joseph H. Moglia  
   
D. KYLE CERMINARA  
   
/s/ D. Kyle Cerminara  
   
LEWIS M. JOHNSON  
   
/s/ Lewis M. Johnson  

 

 

 

 

CUSIP No. 058516105 13D Page 15 of 18 Pages

 

Schedule A

 

Transactions in the Common Stock in the Past 60 Days:

 

Fundamental Global Partners Master Fund, LP:

 

Transaction 
Date
  Number of Shares 
Bought/(Sold)(1)
    Price
Per Share ($)(2)
03/23/2020     633       1.385
03/24/2020     632       1.4025
03/25/2020     633       1.3613
03/26/2020     633       1.4939
03/27/2020     632       1.4636
03/30/2020     1,653       1.733
03/31/2020     1,653       1.8074
04/01/2020     1,563       1.7359
04/02/2020     1,653       1.7107
04/03/2020     1,653       1.6693
04/06/2020     1,877       1.6411
04/07/2020     1,589       1.6716
04/08/2020     1,877       1.671
04/09/2020     1,877       1.7641
04/13/2020     1,679       1.753
04/14/2020     2,268       1.7466
04/15/2020     331       1.67
04/16/2020     2,268       1.686
04/17/2020     2,268       1.6412
04/20/2020     2,334       1.5294
04/21/2020     2,334       1.4453
04/22/2020     2,334       1.4472
04/23/2020     2,334       1.5041
04/24/2020     2,334       1.5838
04/27/2020     1,698       1.5774
04/28/2020     1,698       1.617
04/29/2020     1,698       1.5662
04/30/2020     1,698       1.5646
05/01/2020     1,698       1.5221
05/04/2020     1,743       1.5302
05/05/2020     1,743       1.5297
05/06/2020     1,743       1.4749
05/07/2020     1,743       1.509
05/08/2020     1,743       1.538
05/11/2020     1,956       1.5464
05/12/2020     1,956       1.5463
05/13/2020     1,956       1.4769
05/14/2020     1,956       1.4459
05/15/2020     1,956       1.454
05/18/2020     2,491       1.4777
05/19/2020     2,491       1.4825
05/20/2020     2,491       1.4508

               
(1)All shares were purchased pursuant to a Rule 10b5-1 trading plan entered into by Fundamental Global Investors, LLC on behalf of the funds managed by it.
(2)Except for the price per share reported for the trades on March 20, 2020 and April 15, 2020, the price per share reported is the weighted average price. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

  

 

 

 

CUSIP No. 058516105 13D Page 16 of 18 Pages

 

Schedule A (continued)

 

Transactions in the Common Stock in the Past 60 Days:

 

Fundamental Activist Fund I, LP :

 

Transaction 
Date
  Number of Shares 
Bought/(Sold)(1)
    Price
Per Share ($)(2)
03/23/2020     632       1.385
03/24/2020     633       1.4025
03/25/2020     632       1.3613
03/26/2020     632       1.4939
03/27/2020     633       1.4636
03/30/2020     1,653       1.733
03/31/2020     1,653       1.8074
04/01/2020     1,564       1.7359
04/02/2020     1,653       1.7107
04/03/2020     1,653       1.6693
04/06/2020     1,878       1.6411
04/07/2020     1,589       1.6716
04/08/2020     1,877       1.671
04/09/2020     1,877       1.7641
04/13/2020     1,679       1.753
04/14/2020     2,268       1.7466
04/15/2020     331       1.67
04/16/2020     2,268       1.686
04/17/2020     2,268       1.6412
04/20/2020     2,334       1.5294
04/21/2020     2,334       1.4453
04/22/2020     2,334       1.4472
04/23/2020     2,334       1.5041
04/24/2020     2,334       1.5838
04/27/2020     1,699       1.5774
04/28/2020     1,698       1.617
04/29/2020     1,698       1.5662
04/30/2020     1,698       1.5646
05/01/2020     1,698       1.5221
05/04/2020     1,743       1.5302
05/05/2020     1,743       1.5297
05/06/2020     1,743       1.4749
05/07/2020     1,743       1.509
05/08/2020     1,743       1.538
05/11/2020     1,956       1.5464
05/12/2020     1,956       1.5463
05/13/2020     1,956       1.4769
05/14/2020     1,956       1.4459
05/15/2020     1,956       1.454
05/18/2020     2,491       1.4777
05/19/2020     2,491       1.4825
05/20/2020     2,491       1.4508

               
(1)All shares were purchased pursuant to a Rule 10b5-1 trading plan entered into by Fundamental Global Investors, LLC on behalf of the funds managed by it.
(2)Except for the price per share reported for the trades on March 20, 2020 and April 15, 2020, the price per share reported is the weighted average price. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

 

 

 

 

CUSIP No. 058516105 13D Page 17 of 18 Pages

 

Schedule A (continued)

 

Transactions in the Common Stock in the Past 60 Days:

 

Customer Accounts Managed by CWA Asset Management Group, LLC:

 

Transaction 
Date
  Number of Shares 
Bought/(Sold)
  Price
Per Share ($)(1)
3/23/2020   (300)   $1.3298
3/23/2020   (331)   $1.3796
3/23/2020   (331)   $1.3796
3/23/2020   (600)   $1.3499
3/23/2020   (672)   $1.3797
3/23/2020   (815)   $1.3667
3/23/2020   (1,200)   $1.3199
3/23/2020   (1,800)   $1.3099
3/23/2020   (2,303)   $1.3600
3/23/2020   (4,471)   $1.2999
3/23/2020   (4,600)   $1.2949
3/24/2020   (439)   $1.3971
3/24/2020   (439)   $1.3971
3/24/2020   (533)   $1.3971
3/24/2020   (889)   $1.3970
3/25/2020   (2,834)   $1.3546
3/25/2020   (2,834)   $1.3546
3/25/2020   (3,442)   $1.3546
3/25/2020   (5,742)   $1.3546
3/26/2020   (2,541)   $1.6128
3/26/2020   (2,541)   $1.6128
3/26/2020   (3,087)   $1.6128
3/26/2020   (5,148)   $1.6128
3/27/2020   (5,554)   $1.4828
3/27/2020   (5,555)   $1.4828
3/27/2020   (6,746)   $1.4828
3/27/2020   (11,250)   $1.4828
3/30/2020   (518)   $1.6388
3/30/2020   (894)   $1.6388
4/2/2020   (436)   $1.7058
4/6/2020   (42)   $1.6910
4/6/2020   (49)   $1.6498
4/6/2020   (82)   $1.6682
4/6/2020   (100)   $1.6582
4/6/2020   (105)   $1.6500
4/6/2020   (155)   $1.6581
4/6/2020   (291)   $1.6500
4/6/2020   (343)   $1.6581
4/6/2020   (565)   $1.6500
4/6/2020   (1,500)   $1.7058
4/9/2020   (149)   $1.7498
4/22/2020   (271)   $1.4399
4/23/2020   (160)   $1.5048
4/28/2020   (1,400)   $1.5999

 

 

 

 

CUSIP No. 058516105 13D Page 18 of 18 Pages

 

Transaction 
Date
  Number of Shares 
Bought/(Sold)
  Price
Per Share ($)(1)
< /tr>
4/30/2020   (800)   $1.5700
4/30/2020   (100)   $1.5701
4/30/2020   (100)   $1.5701
4/30/2020   (200)   $1.5800
4/30/2020   (300)   $1.5800
4/30/2020   (200)   $1.5800
4/30/2020   (100)   $1.5800
4/30/2020   (575)   $1.5850
4/30/2020   (55)   $1.5700
5/1/2020   (418)   $1.5200
5/1/2020   (7)   $1.5200
5/1/2020   (1)   $1.5200
5/1/2020   (200)   $1.5200
5/1/2020   (205)   $1.5200
5/1/2020   (300)   $1.5201
5/1/2020   (100)   $1.5576
5/1/2020   (200)   $1.5576
5/1/2020   (100)   $1.5576
5/1/2020   (100)   $1.5576
5/1/2020   (100)   $1.5576
5/1/2020   (64)   $1.5575

               
(1)The price per share reported is the weighted average price. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.