SC 13D/A 1 zk73887.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A Amendment No.2 Under the Securities Exchange Act of 1934 m-Wise, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, Par value $.0017 Per Share -------------------------------------------------------------------------------- (Title of Class of Securities) 554042101 -------------------------------------------------------------------------------- (CUSIP Number) Paul Weinberg, Adv. Elron Electronic Industries Ltd. The Triangular Tower, 42nd Floor 3 Azrieli Center, Tel Aviv 67023 Israel Tel: +972 3 6075555 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 12, 2007 -------------------------------------------------------------------------------- (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 249.13d-1(g), check the following box. [_] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) DEP Technology Holdings Ltd. -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) OO -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 2 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Elron Electronic Industries Ltd. -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 3 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Discount Investment Corporation Ltd. -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- (*)This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 4 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) IDB Development Corporation Ltd. -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 5 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) IDB Holding Corporation Ltd. -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 6 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Nochi Dankner -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 7 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Shelly Bergman -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 8 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Ruth Manor -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 9 of 22 pages SCHEDULE 13D CUSIP NO. 554042101 -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Avraham Livnat -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [_] -------------------------------------------------------------------------------- 3. SEC Use only -------------------------------------------------------------------------------- 4. Source of funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5. Check if disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Israel -------------------------------------------------------------------------------- 7. Sole Voting Power 0 ------------------------------------------------------------- Number of Shares 8. Shared Voting Power Beneficially 13,599,417 (*) Owned by Each ------------------------------------------------------------- Reporting Person 9. Sole Dispositive Power With: 0 ------------------------------------------------------------- 10. Shared Dispositive Power 13,599,417 (*) -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,599,417 -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 9.6% -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN -------------------------------------------------------------------------------- (*) This amount includes an aggregate of 5,263,158 shares that may be acquired upon exercise of a warrant as described in Item 6 of the Statement. Page 10 of 22 pages This Amendment No. 2 on Schedule 13D/A (the "Amendment") amends the Statement on Schedule 13D previously filed with the Securities and Exchange Commission by DEP Technology Holdings Ltd. ("DEP"), Elron Electronic Industries Ltd. ("Elron"), Discount Investment Corporation ("DIC"), IDB Development Corporation Ltd. ("IDB Development"), IDB Holding Corporation Ltd. ("IDB Holding"), Nochi Dankner, Shelly Bergman, Ruth Manor and Avraham Livnat (collectively, "the Reporting Persons") (the "Statement") with respect to the common stock, par value $.0017 per share (the "Common Stock"), of M-Wise, Inc (the "Issuer") to the extent specified herein. Capitalized terms used in this Amendment without being defined herein have the meanings given to them in the Statement. The Amendment is filed by the Reporting Persons in connection with changes in their ownership of the Common Stock as a result of the sale by DEP from March 13, 2007 through June 12, 2007, of an aggregate of 1,420,000 shares of Common Stock in a series of transactions on the open market. The following amends and supplements Items 2 and 5 of the Statement. Item 2. IDENTITY AND BACKGROUND (a), (b) and (c): The Reporting Persons. As of June 12, 2007: The name, citizenship, residence or business address and present principal occupation of the directors and executive officers of (i) DEP, (ii) Elron, (iii) DIC, (iv) IDB Development and (v) IDB Holding are set forth in Schedules A, B, C, D and E attached hereto, respectively, and incorporated herein by reference. (d) None of the Reporting Persons, or, to the knowledge of the Reporting Persons, any director or executive officer named in Schedules A, B, C, D and E to this Statement, has, during the last five years, been convicted in any criminal proceeding, excluding traffic violations and similar misdemeanors. (e) None of the Reporting Persons, or, to the knowledge of the Reporting Persons, any director or executive officer named in Schedules A, B, C, D and E to this Statement, has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 5. INTEREST IN SECURITIES OF THE ISSUER As of June 12, 2007, DEP beneficially owns an aggregate of 13,599,417 shares, or 9.6%, of the Common Stock, including an aggregate of 5,263,158 shares of Common Stock which it has the right to acquire upon exercise of the warrant as described in the Statement. This number was calculated based on 136,523,990 shares of the Common Stock outstanding as reported in the Issuer's FORM 10-QSB under Section 13 or 15(d) of the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission on May 15, 2007. Elron beneficially owns all shares held by DEP as a result of DEP being a wholly owned subsidiary of Elron. Each of DIC, IDB Development, IDB Holding and the Reporting Persons who are natural persons may be deemed beneficial owners of, and to share the power to vote and dispose of, these shares of Common Stock. Each of these Reporting Persons disclaims beneficial ownership of all the shares of Common Stock held by DEP. None of the Reporting Persons purchased, and except as set forth in this Amendment, none of the Reporting Persons sold, any shares of Common Stock during the 60 days prior to June 12, 2007. Information provided to the Reporting Persons indicates that the executive officers and directors of IDB Holding, IDB Development, DIC, Elron and DEP did not own, as of June 12, 2007, any shares of Common Stock (including Common Stock that may be acquired pursuant to options or rights to purchase such Common Stock from the Issuer). According to the information provided to the Reporting Persons, none of such executive officers and directors purchased or sold any shares of Common Stock during the last 60 days prior to June 12, 2007. Page 11 of 22 pages From March 13, 2007 through June 12, 2007, DEP sold an aggregate of 1,420,000 shares of Common Stock in a series of transactions in the open market for a total consideration, before broker commissions, of $227,516.88, the details of which are set forth in Appendix 1 hereto. SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this Amendment No.2 of the Statement is true, complete and correct. Date: June 21, 2007 DEP TECHNOLOGY HOLDINGS LTD. ELRON ELECTRONIC INDUSTRIES LTD. DISCOUNT INVESTMENT CORPORATION LTD. IDB DEVELOPMENT CORPORATION LTD. IDB HOLDING CORPORATION LTD. NOCHI DANKNER SHELLY BERGMAN RUTH MANOR AVRAHAM LIVNAT BY: DISCOUNT INVESTMENT CORPORATION LTD. (signed) BY: ______________________________ Michel Dahan and Kurt Keren, authorized signatories of Discount Investment Corporation Ltd., for itself and on behalf of DEP Technology Holdings Ltd., Elron Electronic Industries Ltd., IDB Development Corporation Ltd., IDB Holding Corporation Ltd., Nochi Dankner, Shelly Bergman, Ruth Manor and Avraham Livnat, pursuant to agreements annexed to this Amendment No. 1 of the Statement as Exhibits 1 through 8. Page 12 of 22 pages Schedule A Directors and Executive Officers o f DEP TECHNOLOGY HOLDINGS LTD. (as of June 12, 2007) Citizenship is the same as country of address, unless otherwise noted.

====================================================================== Schedule B Directors and Executive Officers o f ELRON ELECTRONIC INDUSTRIES LTD. (as of June 12, 2007) Citizenship is the same as country of address, unless otherwise noted.

Page 13 of 22 pages

(*) Dual citizen of Israel and France. ====================================================================== Page 14 of 22 pages Schedule C Directors and Executive Officers o f Discount Investment Corporation Ltd. (as of June 12, 2007) Citizenship is the same as country of address, unless otherwise noted.

Page 15 of 22 pages

(*) Dual citizen of Israel and France ====================================================================== Schedule D Directors and Executive Officers of IDB Development Corporation Ltd. (as of June 12, 2007) Citizenship is the same as country of address, unless otherwise noted.

Page 16 of 22 pages

(*) Dual citizen of Israel and France. ====================================================================== Page 17 of 22 pages Schedule E Directors and Executive Officers of IDB Holding Corporation Ltd. (as of June 12, 2007) Citizenship is the same as country of address, unless otherwise noted.

Page 18 of 22 pages

(*) Dual citizen of Israel and France. Page 19 of 22 pages Appendix 1 TRADE DATE QUANTITY PRICE ---------- -------- ----- March 13, 2007 5,000 0.1700 10,000 0.1700 10,000 0.1750 5,000 0.1750 March 14, 2007 15,600 0.1650 9,400 0.1650 10,000 0.1600 15,000 0.1600 March 19, 2007 5,000 0.1600 March 20, 2007 15,000 0.1600 March 21, 2007 15,000 0.1610 15,000 0.1620 15,000 0.1640 15,000 0.1600 March 23, 2007 10,000 0.1650 10,000 0.1650 10,000 0.1650 10,000 0.1650 10,000 0.1650 5,000 0.1650 15,000 0.1650 10,000 0.1650 10,000 0.1650 10,000 0.1650 March 26, 2007 30,000 0.1600 April 3, 2007 20,000 0.1600 20,000 0.1600 20,000 0.1650 20,000 0.1700 20,000 0.1600 April 5, 2007 5,000 0.1600 April 16, 2007 20,000 0.1600 5,000 0.1600 4,500 0.1620 10,000 0.1610 5,000 0.1610 10,000 0.1610 15,000 0.1600 15,000 0.1600 25,000 0.1600 5,000 0.1610 5,000 0.1610 5,000 0.1610 6,700 0.1600 10,000 0.1600 8,300 0.1600 25,000 0.1600 April 17, 2007 20,000 0.1630 5,000 0.1630 10,000 0.1630 15,000 0.1630 Page 20 of 22 pages TRADE DATE QUANTITY PRICE ---------- -------- ----- 5,000 0.1630 20,000 0.1630 15,000 0.1630 10,000 0.1630 5,000 0.1640 5,500 0.1640 5,000 0.1640 9,500 0.1640 24,500 0.1650 500 0.1650 20,000 0.1650 5,000 0.1650 25,000 0.1650 10,000 0.1650 15,000 0.1650 10,000 0.1640 10,000 0.1640 5,000 0.1640 20,000 0.1650 5,000 0.1650 5,000 0.1650 April 18, 2007 25,000 0.1640 7,500 0.1650 500 0.1600 5,000 0.1600 20,000 0.1600 25,000 0.1600 25,000 0.1600 25,000 0.1600 April 19, 2007 25,000 0.1620 17,500 0.1600 20,000 0.1610 5,000 0.1610 25,000 0.1630 25,000 0.1640 10,000 0.1650 15,000 0.1650 5,000 0.1660 10,000 0.1660 April 20, 2007 25,000 0.1600 25,000 0.1600 25,000 0.1620 April 23, 2007 22,000 0.1610 13,000 0.1610 5,000 0.1610 20,000 0.1610 25,000 0.1600 April 26, 2007 20,000 0.1600 June 5, 2007 10,000 0.1300 June 7, 2007 10,000 0.1300 10,000 0.1300 10,000 0.1300 June 8, 2007 10,000 0.1300 Page 21 of 22 pages TRADE DATE QUANTITY PRICE ---------- -------- ----- 10,000 0.1300 10,000 0.1300 10,000 0.1300 June 12, 2007 10,000 0.1300 10,000 0.1300 Page 22 of 22 pages

DISCOUNT INVESTMENT CORP LTD SC 13D/A