sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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)
(Amendment No. 1)(1)
TorreyPines Therapeutics, Inc.
(formerly known as Axonyx Inc.)
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(Name of issuer)
Common Stock, Par Value $0.001
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(Title of class of securities)
89235K105
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(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
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(Name, address and telephone number of person
authorized to receive notices and communications)
October 3, 2006
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(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box /X/.
NOTE. The Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. SEE Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 11 Pages)
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(1) 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 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).
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CUSIP No. 89235K105 13D Page 2 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
William S. Fagan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 407,968 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
407,968 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
407,968 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
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14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 3 of 11 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fagan Capital, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 143,603 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
143,603 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
143,603 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
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14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 4 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Laura A. Fagan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 257,564 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
257,564 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
257,564 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
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14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 5 of 11 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James Dvorak
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,866 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,866 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,866 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
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14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 6 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lucrum Partners, LP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
0 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 7 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lucrum Capital Management, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
0 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 89235K105 13D Page 8 of 11 Pages
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The following constitutes Amendment No. 1 to the Schedule 13D filed by
the undersigned. This Amendment No. 1 is being filed to report, among other
things, changes to the Reporting Persons' beneficial ownership of shares of
Common Stock of the Issuer (as defined below) as a result of the consummation of
the business combination of Axonyx Inc. with TorreyPines Therapeutics, Inc. on
October 3, 2006 and the associated 1-for-8 reverse split of the shares of Common
Stock of the Issuer (the "Reverse Split"). Unless otherwise indicated, all
figures contained herein have been adjusted to take into account the Reverse
Split.
Item 1 is hereby amended and restated as follows:
This Schedule 13D relates to the shares of Common Stock, par value
$0.001 (the "Common Stock") of TorreyPines Therapeutics, Inc. (formerly known as
Axonyx Inc.) (the "Issuer"). The address of the principal executive offices of
the Issuer is 11085 North Torrey Pines Road, Suite 300, La Jolla, California
92037.
Item 5 is hereby amended and restated as follows:
(a) As of the date of this Schedule 13D, William S. Fagan, Laura A.
Fagan and Fagan Capital may each be deemed to be the beneficial owner of
407,968, 257,564 and 143,603 shares of Common Stock, respectively, constituting
approximately 2.6%, 1.6% and less than 1%, respectively, of the 15,670,832
shares of Common Stock outstanding (the "Outstanding Shares") as of October 12,
2006. The number of Outstanding Shares is based on information received from the
Issuer.
As of the date of this Schedule 13D, James Dvorak is the beneficial
owner of 1,866 shares of Common Stock, constituting less than 1% of the
Outstanding Shares. As of the date of this Schedule 13D, Lucrum Partners and
Lucrum Management do not beneficially own any securities of the Issuer.
Each of the Reporting Persons disclaims beneficial ownership of the
shares held by the other Reporting Persons, except to the extent of his, her or
its pecuniary interest therein.
(b) William S. Fagan is the beneficial owner of 407,968 shares of
Common Stock, constituting approximately 2.6% of the Outstanding Shares,
consisting of 143,603 shares of Common Stock beneficially owned by Fagan Capital
and 264,365 shares owned directly by Mr. Fagan. Mr. Fagan has the sole power to
vote and to dispose of the 143,603 shares of Common Stock beneficially owned by
Fagan Capital by virtue of his position with Fagan Capital. Fagan Capital is a
party to a management agreement with a customer (the "Client") for which Fagan
Capital provides investment advisory services that is the record holder of the
143,603 shares reported as beneficially owned by Fagan Capital (the "Management
Agreement"). The Management Agreement provides that Fagan Capital has the right
to make investment and voting decisions with respect to the shares purchased by
Fagan Capital on the Client's behalf. Accordingly, Mr. Fagan and Fagan Capital
have sole voting and dispositive power with respect to the 143,603 shares of
Common Stock of the Issuer reported as beneficially owned by Fagan Capital. Mr.
Fagan also has the sole power to vote and to dispose of the 264,365 shares of
Common Stock he directly owns. Mr. Fagan's beneficial ownership reported herein
does not include shares of Common Stock held by Laura A. Fagan, spouse of Mr.
Fagan.
Laura A. Fagan has the sole power to vote and to dispose of 257,564
shares of Common Stock, constituting approximately 1.6% of the Outstanding
Shares. Mrs. Fagan's beneficial ownership reported herein does not include
shares of Common Stock held by William S. Fagan, spouse of Mrs. Fagan.
Mr. Dvorak has the sole power to vote and to dispose of 1,866 shares of
Common Stock, constituting less than 1% of the Outstanding Shares.
For purposes of clarification, the Reporting Persons beneficially own
an aggregate of 667,398 shares of Common Stock, constituting approximately 4.3%
of the Outstanding Shares. This reflects direct ownership as follows:
James Dvorak 1,866 shares
Lucrum Partners -
Lucrum Management -
Client of Fagan Capital 143,603 shares
William S. Fagan 264,365 shares
Laura A. Fagan 257,564 shares
Total direct ownership of Reporting Persons 667,398 shares
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CUSIP No. 89235K105 13D Page 9 of 11 Pages
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(c) Schedule A annexed hereto lists the transactions effected by the
Reporting Persons during the past 60 days. All the transactions were effected in
the open market.
(d) Pursuant to the Management Agreement, the Client which is the
record holder of the 143,603 shares of Common Stock beneficially owned by Fagan
Capital and Mr. Fagan has the right to receive and the power to direct the
receipt of dividends from, or the proceeds from the sale of, such shares.
(e) The Reporting Persons ceased to be five percent (5%) beneficial
owners of the shares of Common Stock of the Issuer on October 3, 2006.
Item 6 is hereby amended and restated as follows:
The Client is presently a party to certain equity swap arrangements
(the "Swap Arrangements") with Morgan Stanley & Co. Incorporated as
counterparty. Pursuant to these Swap Arrangements, the Client has agreed to pay
to or receive from such counterparty, an amount of cash equal to the change in
price on a total of 330,286 shares of Common Stock. The Swap Arrangements
require cash settlement. The Client has no right to physical settlement. Neither
the Client nor any of the Reporting Persons has voting or dispositive power with
respect to any Common Stock, if any, that may be actually owned by Morgan
Stanley to hedge its position in the Swap Arrangements.
Other than the Swap Arrangements and the Management Agreement, there
are no contracts, arrangements, understandings or relationships among the
Reporting Persons, or between the Reporting Persons and any other person, with
respect to the securities of the Issuer.
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CUSIP No. 89235K105 13D Page 10 of 11 Pages
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[SIGNATURE PAGE TO THE SCHEDULE 13D]
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: October 16, 2006
Fagan Capital, Inc.
By: /s/ William S. Fagan
-------------------------
Name: William S. Fagan
Title: President
/s/ William S. Fagan
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William S. Fagan
/s/ Laura A. Fagan
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Laura A. Fagan
/s/ James Dvorak
-----------------------------
James Dvorak
Lucrum Partners, LP
By: Lucrum Capital Management, LLC,
its General Partner
By: /s/ James Dvorak
--------------------------
Name: James Dvorak
Title: Managing Member
Lucrum Capital Management, LLC
By: /s/ James Dvorak
--------------------------
Name: James Dvorak
Title: Managing Member
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CUSIP No. 89235K105 13D Page 11 of 11 Pages
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SCHEDULE A
TRANSACTIONS IN THE SHARES OF COMMON STOCK DURING THE PAST 60 DAYS
(THE FOLLOWING TRANSACTIONS WERE EFFECTED PRIOR TO THE REVERSE SPLIT
AND HAVE NOT BEEN ADJUSTED TO TAKE INTO ACCOUNT THE REVERSE SPLIT)
JAMES DVORAK
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Shares of Common Stock
Purchased/(Sold) Price Per Share ($) Date of Purchase/Sale
---------------- ------------------- ---------------------
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(5,000) 1.02 8/30/06
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(800) 1.03 9/05/06
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(5,000) 1.03 9/06/06
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(4,900) 1.02 9/11/06
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(5,000) 1.01 9/11/06
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