<SEC-DOCUMENT>0001140361-14-023426.txt : 20140529
<SEC-HEADER>0001140361-14-023426.hdr.sgml : 20140529
<ACCEPTANCE-DATETIME>20140529102237
ACCESSION NUMBER:		0001140361-14-023426
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20140529
DATE AS OF CHANGE:		20140529
GROUP MEMBERS:		BRIAN PESSIN
GROUP MEMBERS:		SANDRA F. PESSIN

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INSIGNIA SYSTEMS INC/MN
		CENTRAL INDEX KEY:			0000875355
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				411656308
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43578
		FILM NUMBER:		14874652

	BUSINESS ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445
		BUSINESS PHONE:		7633926200

	MAIL ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PESSIN NORMAN H
		CENTRAL INDEX KEY:			0000923666

	FILING VALUES:
		FORM TYPE:		SC 13D

	MAIL ADDRESS:	
		STREET 1:		C/O LEVY, HARKINS & CO., INC.
		STREET 2:		366 MADISON AVENUE, 14TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>formsc13d.htm
<DESCRIPTION>NORMAN H. PESSIN SC 13D 5-28-2014 (INSIGNIA SYSTEMS INC)
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;<font style="FONT-SIZE: 14pt">UNITED STATES</font></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 14pt">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 12pt">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 18pt">SCHEDULE 13D</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Under the Securities Exchange Act of 1934</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(Amendment No.&#160; )*</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 24pt">Insignia Systems, Inc.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(Name of Issuer)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Common Stock, $.01 par value</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">45765Y 10 5</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Cusip Number</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Norman H. Pessin</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Brian Pessin</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">366 Madison Avenue, 14<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">New York, NY&#160; 10017</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">212-661-2670</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">May 28, 2014</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(Date of Event which Requires Filing</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">of this Statement)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If the filing person has previously filed a statement of Schedule 13G to report the acquisition which is the subject of the Schedule 13D, and is filing this schedule because of ss. 240.13d-1(e), ss. 240.13d-1(f) or ss. 240.13d-1(g), check the following box <font style="FONT-FAMILY: Wingdings">o</font>.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7(b) for other parties to whom copies are to be sent.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*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 the disclosures provided in a prior cover page.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">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).</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PAGE 2</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No. 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

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<td style="TEXT-ALIGN: center; WIDTH: 10.24%">1</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">NAME OF REPORTING PERSON</div>
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<div>&#160;</div>
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<div>&#160;</div>
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<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Norman H. Pessin</div>
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<td style="WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="WIDTH: 89.76%">
<div>&#160;</div>
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<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">2</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
</td>
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<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">(a) <font style="FONT-FAMILY: Wingdings">&#254;</font> (b) <font style="FONT-FAMILY: Wingdings">o</font></td>
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<td style="WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
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<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">3</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SEC USE ONLY</div>
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<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
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<td style="TEXT-ALIGN: center; WIDTH: 10.24%">4</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOURCE OF FUNDS</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PF</div>
</td>
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<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
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<td style="TEXT-ALIGN: center; WIDTH: 10.24%">5</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)&#160;<font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
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<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160; &#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">6</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
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<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
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<td style="TEXT-ALIGN: center; WIDTH: 22.07%">NUMBER OF SHARES&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">7</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOLE VOTING POWER</div>
</td>
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<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">BENEFICIALLY</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">519,657</td>
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<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">OWNED BY EACH&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">8</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SHARED VOTING POWER</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">REPORTING</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160;&#160; </td>
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<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">PERSON WITH</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">9</td>
<td style="WIDTH: 68.05%">SOLE DISPOSITIVE POWER</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%"></td>
</tr>

<tr style="HEIGHT: 13px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; &#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">519,657</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">10</td>
<td style="WIDTH: 68.05%">SHARED DISPOSITIVE POWER</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">11</div>
</td>
<td style="WIDTH: 89.88%">
<div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%"></td>
<td style="WIDTH: 89.88%"></td>
</tr>

<tr>
<td style="WIDTH: 10.12%">
<div>&#160;&#160; </div>
</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">519,657</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">12</div>
</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* <font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%"></td>
<td style="WIDTH: 89.88%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">&#160;&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">13</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1) 4.0%</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.12%">&#160; &#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">14</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">TYPE OF REPORTING PERSON*</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">IN</div>
</td>
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<div>PAGE 3</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No. 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
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<td style="TEXT-ALIGN: center; WIDTH: 10.24%; BORDER-TOP: #000000 2px solid"></td>
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</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">1</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">NAME OF REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="WIDTH: 89.76%">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Sandra F. Pessin</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="WIDTH: 89.76%">
<div>&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">2</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">(a) <font style="FONT-FAMILY: Wingdings">&#254;</font> (b) <font style="FONT-FAMILY: Wingdings">o</font></td>
</tr>

<tr>
<td style="WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">3</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SEC USE ONLY</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">4</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOURCE OF FUNDS</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PF</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">5</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) <font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160; &#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">6</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
</tr>
</table>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">NUMBER OF SHARES&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">7</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOLE VOTING POWER</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%"></td>
<td style="TEXT-INDENT: 27pt; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">BENEFICIALLY</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">41,140</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">OWNED BY EACH&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">8</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SHARED VOTING POWER</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">REPORTING</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160;&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">PERSON WITH</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">9</td>
<td style="WIDTH: 68.05%">SOLE DISPOSITIVE POWER</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%"></td>
<td style="TEXT-INDENT: 27pt; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; &#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">41,140</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">10</td>
<td style="WIDTH: 68.05%">SHARED DISPOSITIVE POWER</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">11</div>
</td>
<td style="WIDTH: 89.88%">
<div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%"></td>
<td style="WIDTH: 89.88%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">
<div>&#160;&#160; </div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">41,140</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">12</div>
</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* <font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">&#160;&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">13</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0.3%</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.12%">&#160; &#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">14</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">TYPE OF REPORTING PERSON*</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">IN</div>
</td>
</tr>
</table>
</div>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div>PAGE 4</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No. 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 14px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%; BORDER-TOP: #000000 2px solid"></td>
<td style="WIDTH: 89.76%; BORDER-TOP: #000000 2px solid"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">1</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">NAME OF REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="WIDTH: 89.76%">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Brian Pessin</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.24%">
<div>&#160;</div>
</td>
<td style="WIDTH: 89.76%">
<div>&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">2</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">(a) <font style="FONT-FAMILY: Wingdings">&#254;</font> (b) <font style="FONT-FAMILY: Wingdings">o</font></td>
</tr>

<tr>
<td style="WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">3</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SEC USE ONLY</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">4</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOURCE OF FUNDS</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PF</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">5</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)&#160; <font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.24%">&#160; &#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.76%; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">6</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 10.24%">&#160;</td>
<td style="WIDTH: 89.76%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
</tr>
</table>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">NUMBER OF SHARES&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">7</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SOLE VOTING POWER</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%"></td>
<td style="TEXT-INDENT: 27pt; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">BENEFICIALLY</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">100,037</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">OWNED BY EACH&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">8</td>
<td style="WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">SHARED VOTING POWER</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">REPORTING</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160;&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">PERSON WITH</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">9</td>
<td style="WIDTH: 68.05%">SOLE DISPOSITIVE POWER</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 22.07%"></td>
<td style="TEXT-INDENT: 27pt; WIDTH: 9.63%"></td>
<td style="WIDTH: 68.05%">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; &#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-INDENT: 27pt; WIDTH: 9.63%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">100,037</div>
</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="TEXT-ALIGN: center; WIDTH: 22.07%">&#160;</td>
<td style="TEXT-ALIGN: center; WIDTH: 9.63%">10</td>
<td style="WIDTH: 68.05%">SHARED DISPOSITIVE POWER</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 22.07%">&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 9.63%">&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 68.05%">&#160; </td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">11</div>
</td>
<td style="WIDTH: 89.88%">
<div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%"></td>
<td style="WIDTH: 89.88%"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">
<div>&#160;&#160; </div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">100,037</div>
</td>
</tr>

<tr>
<td style="WIDTH: 10.12%">
<div style="TEXT-ALIGN: center">12</div>
</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* <font style="FONT-FAMILY: Wingdings">o</font></div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 10.12%">&#160;&#160;&#160;&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">13</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0.7%</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; WIDTH: 10.12%">&#160; &#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 89.88%">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">14</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">TYPE OF REPORTING PERSON*</div>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; WIDTH: 10.12%">&#160;</td>
<td style="WIDTH: 89.88%">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">IN</div>
</td>
</tr>
</table>
</div>
</div>
</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">PAGE 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No.&#160; 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div><br>
</div>

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<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 1.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Security and Issuer</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">This Schedule 13D relates to the common stock, $.01 par value (the "Common Stock" or the &#8220;Shares&#8221;),of Insignia Systems, Inc. (the "Issuer"),whose principal executive offices are located at 8799 Brooklyn Blvd., Minneapolis, MN 55445.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 2.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Identity and Background</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">This Schedule 13D is being filed by and for Norman H. Pessin and Brian Pessin (each a &#8220;Reporting Person&#8221;).&#160; Certain information with respect to each Reporting Person is set forth below:</div>

<div><br>
</div>

<table style="WIDTH: 90%; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 27pt; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Name and Address:</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Norman H. Pessin</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">366 Madison Avenue, 14<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">New York, NY&#160; 10017</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Sandra F. Pessin</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">366 Madison Avenue, 14<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor</div>
</td>
</tr>

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<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">New York, NY&#160; 10017</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

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<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Brian Pessin</div>
</td>
</tr>

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<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">310 East 75<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Street, Apt. 2A</div>
</td>
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<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">New York, NY&#160; 10021</div>
</td>
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<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Principal Occupation:</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Investor</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Housewife</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Investor</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Criminal Convictions:</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Civil Proceedings:</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Citizenship:</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 4%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3)</div>
</td>
<td style="WIDTH: 43%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">United States</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 3.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Source and Amount of Funds or Other Consideration</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The aggregate purchase price of the 519,657 shares of Common Stock owned by Norman H. Pessin is approximately $1,524,254, including brokerage commissions.&#160; The shares of Common Stock owned by Norman H. Pessin were acquired with personal funds.&#160; The aggregate purchase price of the 41,140 shares of Common Stock owned by Sandra F. Pessin is approximately $125,605, including brokerage commissions.&#160; The shares of Common Stock owned by Sandra F. Pessin were acquired with personal funds.&#160; The aggregate purchase price of the 100,037 shares of Common Stock owned by Brian Pessin is approximately $292,485, including brokerage commissions.&#160; The shares of Common Stock owned by Brian Pessin were acquired with personal funds.</div>

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</div>

<div>PAGE 6</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No. 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 4.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Purpose of Transaction</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Reporting Persons originally purchased the Shares based on the belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.&#160; Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Reporting Persons intend to review their investment in the Issuer on a continuing basis.&#160; Depending on various factors including, without limitation, the Issuer&#8217;s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, communications with management and the Board of Directors of the Issuer, engaging in discussions with third parties about the Issuer, making proposals to the Issuer concerning changes to the capitalization or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 5.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Interest in Securities of the Issuer</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Norman H. Pessin owns 519,657 shares of Common Stock of the Issuer, constituting 4.3% of the outstanding shares thereof.&#160; Sandra F. Pessin owns 41,140 shares of Common Stock of the Issuer, constituting 0.3% of the outstanding shares thereof.&#160; Brian Pessin owns 100,037 shares of Common Stock of the Issuer, constituting 0.7% of the outstanding shares thereof.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Mr. Pessin has sole voting and dispositive power with respect to the shares of Common Stock he owns directly.&#160; Mrs. Pessin has sole voting and dispositive power with respect to the shares of Common Stock she owns directly.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule A attached hereto lists all transactions in securities of the Issuer during the past sixty days by the Reporting Persons.&#160; All of such transactions were effected in the open market.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock.</div>

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</div>

<div>PAGE 7</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">CUSIP No. 45765Y 10 5</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Schedule 13D</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 6.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 45pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">Item 7.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Material to Be Filed as Exhibits</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">None.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Signatures</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</div>

<div>&#160;</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border="0" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 16px">
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Norman H. Pessin</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr style="HEIGHT: 16px">
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Sandra F. Pessin</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Brian Pessin</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">May 28, 2014</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 35%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 25%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Schedule A</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Transactions in the Securities of the Issuer During the Past 60 Days</u></div>

<div><br>
</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Shares of Common</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Stock Purchased</u></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Price Per</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Share ($)</u></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Date of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Purchase</u></div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Norman H. Pessin</u></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4/21/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4,037</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4/22/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,100</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/7/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/8/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">25,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.88</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/9/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,200</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.71</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/13/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.84</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/16/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">125,100</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.90</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/19/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">20,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.90</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/22/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Sandra F. Pessin</u></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">20,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.09</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/19/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Brian Pessin</u></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,740</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.11</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4/1/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.05</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4/16/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4,297</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.02</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4/17/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.88</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/9/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,600</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.71</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/14/14</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">15,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 34%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.90</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 33.33%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5/19/14</div>
</td>
</tr>
</table>

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