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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13D-1(B), (C) AND (D) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(B)
-----------
(AMENDMENT NO. 2)*
ECC CAPITAL CORPORATION
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(NAME OF ISSUER)
COMMON STOCK, PAR VALUE $0.001 PER
SHARE 26826M108
---------------------------------- ----------------------------------
(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
DECEMBER 31, 2007
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[_] RULE 13D-1(B)
[X] RULE 13D-1(C)
[_] RULE 13D-1(D)
----------
*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.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
Continued on Following Pages
Page 1
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CUSIP No. 26826M108 13G Page 2
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1 NAME OF REPORTING SC FUNDAMENTAL VALUE FUND, L.P.
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
-------------------------------------------------------------------------------
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CUSIP No. 26826M108 13G Page 3
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1 NAME OF REPORTING SC FUNDAMENTAL LLC
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF NEW YORK
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: OO
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CUSIP No. 26826M108 13G Page 4
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1 NAME OF REPORTING SC FUNDAMENTAL VALUE BVI, LTD.
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF BRITISH VIRGIN ISLANDS
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: CO
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CUSIP No. 26826M108 13G Page 5
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1 NAME OF REPORTING SC-BVI PARTNERS
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
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3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
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CUSIP No. 26826M108 13G Page 6
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1 NAME OF REPORTING PMC-BVI, INC.
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: CO
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CUSIP No. 26826M108 13G Page 7
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1 NAME OF REPORTING SC FUNDAMENTAL BVI, INC.
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: CO
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CUSIP No. 26826M108 13G Page 8
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1 NAME OF REPORTING SC OPPORTUNITY FUND, L.P.
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: PN
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CUSIP No. 26826M108 13G Page 9
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1 NAME OF REPORTING SC OPPORTUNITY LLC
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: OO
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CUSIP No. 26826M108 13G Page 10
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1 NAME OF REPORTING PETER M. COLLERY
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 206,900
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 206,900
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 206,900
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0.2%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: IN
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CUSIP No. 26826M108 13G Page 11
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1 NAME OF REPORTING NEIL H. KOFFLER
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: IN
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CUSIP No. 26826M108 13G Page 12
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1 NAME OF REPORTING JOHN T. BIRD
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: IN
-------------------------------------------------------------------------------
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CUSIP No. 26826M108 13G Page 13
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1 NAME OF REPORTING DAVID A. HURWITZ
PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 0
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: IN
-------------------------------------------------------------------------------
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CUSIP No. 26826M108 13G Page 14
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1 NAME OF REPORTING SC FUNDAMENTAL LLC EMPLOYEE SAVINGS
PERSONS: AND PROFIT SHARING PLAN
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY):
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(A) [X]
(B) [_]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
-------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 206,900
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 206,900
REPORTING
------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE 0
POWER:
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY 206,900
OWNED BY EACH REPORTING PERSON:
-------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES: [ ]
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 0.2%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON: EP
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ITEM 1. NAME OF ISSUER AND ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
(a) and (b) This Amendment No. 2 to the Statement on Schedule 13G
(the "Schedule 13G") relates to the Common Stock, par value $0.001 per share
(the "Common Stock"), of ECC Capital Corporation, a Maryland corporation (the
"Issuer"). The address of the principal executive offices of the Issuer is 1833
Alton Parkway, Irvine, California 92606.
ITEM 2. NAME OF PERSON FILING
(a) Name of Persons Filing:
(i) SC Fundamental Value Fund, L.P.
(ii) SC Fundamental LLC
(iii) SC Fundamental Value BVI, Ltd.
(iv) SC-BVI Partners
(v) PMC-BVI, Inc.
(vi) SC Fundamental BVI, Inc.
(vii) SC Opportunity Fund, L.P.
(viii) SC Opportunity LLC
(ix) Peter M. Collery
(x) Neil H. Koffler
(xi) John T. Bird
(xii) David A. Hurwitz and
(xiii) SC Fundamental LLC Employee Savings and Profit Sharing
Plan (collectively, the "Reporting Persons")
(b) Address of Principal Business Office or, if None, Residence:
The principal business office of each of the Reporting Persons
listed in Item 2(a) is as follows:
The principal business office of each of SC Fundamental Value Fund,
L.P., SC Fundamental LLC, SC-BVI Partners, PMC-BVI, Inc., SC Fundamental BVI,
Inc., SC Opportunity Fund, L.P., SC Opportunity LLC, Peter M. Collery, Neil H.
Koffler, John T. Bird and David A. Hurwitz, and SC Fundamental LLC Employee
Savings and Profit Sharing Plan is 747 Third Avenue, 27th Floor, New York, New
York 10017.
The principal business office of SC Fundamental Value BVI, Ltd. is
c/o Citco Fund Services (Cayman Islands) Ltd., Corporate Center, West Bay Road,
Grand Cayman, Cayman Islands.
(c), (d) and (e) For information with respect to citizenship of each
of the Reporting Persons, title of class of securities and CUSIP number for the
shares held by such persons, see the appropriate cover page above.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR
(C), CHECK WHETHER THE PERSON FILING IS:
(a) [ ] Broker or dealer registered under Section 15 of the Exchange
Act;
Page 15
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act;
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act;
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An Employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP
(a) - (c) The response of each of the Reporting Persons to Items 5 through 11 of
each of their respective Cover Sheets which relate to the beneficial ownership
of the Common Stock of the Issuer, as of December 31, 2007, is incorporated
herein by reference. The percentage ownership of each of the Reporting Persons
is based on 97,073,300 shares of Common Stock outstanding as of September 30,
2007, as reported by the Issuer in its Consolidated Financial Statements For the
Three and Nine Months Ended September 30, 2007, dated December 4, 2007, as
published on the Issuer's internet website.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of Securities, check the following |X|.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Page 16
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See Exhibit No. 2 hereto.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
(a) Not applicable.
(b) By signing below, each of the undersigned certifies that, to
the best of his or its knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.
[The remainder of this page intentionally left blank.]
Page 17
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: February 14, 2008
SC FUNDAMENTAL VALUE FUND, L.P.
By: SC Fundamental LLC, as General Partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC FUNDAMENTAL LLC
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC FUNDAMENTAL VALUE BVI, LTD.
By: SC Fundamental BVI, Inc., as managing
general partner of investment manager
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
SC-BVI PARTNERS
By: SC Fundamental BVI, Inc., as managing
general partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
PMC-BVI, INC.
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Secretary
Page 18
SC FUNDAMENTAL BVI, INC.
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
SC OPPORTUNITY FUND, L.P.
By: SC Opportunity LLC, as General Partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC OPPORTUNITY, LLC
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
Peter M. Collery (1)
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
John T. Bird (2)
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
David A. Hurwitz (3)
SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND
PROFIT SHARING PLAN
By: /s/ Peter M. Collery
--------------------------
Peter M. Collery, Trustee
Page 19
(1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery. The
Power of Attorney for Mr. Collery is attached as Exhibit 3 to the
Amendment No. 1 to the Statement on Schedule 13G with respect to the
Common Stock of ECC Capital Corporation, filed on February 14, 2007, and
is incorporated herein by reference.
(2) Executed by Neil H. Koffler as Attorney-in-Fact for John T. Bird. The
Power of Attorney for Mr. Collery is attached as Exhibit 3 to the
Amendment No. 1 to the Statement on Schedule 13G with respect to the
Common Stock of Tengasco, Inc., filed on March 28, 2005, and is
incorporated herein by reference.
(3) Executed by Neil H. Koffler as Attorney-in-Fact for David A. Hurwitz. The
Power of Attorney for Mr. Hurwitz is attached as Exhibit 3 to the
Amendment No. 4 to the Statement on Schedule 13G with respect to the
Common Stock of MDU Communications International, Inc., filed on February
14, 2008, and is incorporated herein by reference.
Page 20
EXHIBIT INDEX
Exhibit No. Document
----------- --------
1 Joint Filing Agreement, dated February 14,
2008, among SC Fundamental Value Fund, L.P.,
SC Fundamental LLC, SC Fundamental Value
BVI, Ltd., SC-BVI Partners, PMC-BVI, Inc.,
SC Fundamental BVI, Inc., SC Opportunity
Fund, L.P., SC Opportunity LLC, Peter M.
Collery, Neil H. Koffler, John T. Bird and
David A. Hurwitz, and SC Fundamental LLC
Employee Savings and Profit Sharing Plan to
file this Amendment No. 2 to the joint
statement on Schedule 13G.
2 Identity of Members of Group
Page 21
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act
of 1934, as amended, the persons named below agree to the joint filing on behalf
of each of them of this Amendment No. 2 to the statement on Schedule 13G
(including amendments thereto) with respect to the Common Stock, par value
$0.001 per share, of ECC Capital Corporation and further agree that this Joint
Filing Agreement be included as an Exhibit to such joint filing. In evidence
thereof, the undersigned, hereby execute this Agreement this 14th day of
February, 2008.
Dated: February 14, 2008
SC FUNDAMENTAL VALUE FUND, L.P.
By: SC Fundamental LLC, as General Partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC FUNDAMENTAL LLC
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC FUNDAMENTAL VALUE BVI, LTD.
By: SC Fundamental BVI, Inc., as managing
general partner of investment manager
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
SC-BVI PARTNERS
By: SC Fundamental BVI, Inc., as managing
general partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
Page 22
PMC-BVI, INC.
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Secretary
SC FUNDAMENTAL BVI, INC.
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Vice President
SC OPPORTUNITY FUND, L.P.
By: SC Opportunity LLC, as General Partner
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
SC OPPORTUNITY, LLC
By: /s/ Neil H. Koffler
--------------------------
Neil H. Koffler, Member
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
Peter M. Collery (1)
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
John T. Bird (2)
/s/ Neil H. Koffler
-------------------------------
Neil H. Koffler as Attorney-in-Fact for
David A. Hurwitz (3)
Page 23
SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND
PROFIT SHARING PLAN
By: /s/ Peter M. Collery
--------------------------
Peter M. Collery, Trustee
(1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery. The
Power of Attorney for Mr. Collery is attached as Exhibit 3 to the Amendment
No. 1 to the Statement on Schedule 13G with respect to the Common Stock of
ECC Capital Corporation, filed on February 14, 2007, and is incorporated
herein by reference.
(2) Executed by Neil H. Koffler as Attorney-in-Fact for John T. Bird. The Power
of Attorney for Mr. Collery is attached as Exhibit 3 to the Amendment No. 1
to the Statement on Schedule 13G with respect to the Common Stock of
Tengasco, Inc., filed on March 28, 2005, and is incorporated herein by
reference.
(3) Executed by Neil H. Koffler as Attorney-in-Fact for David A. Hurwitz. The
Power of Attorney for Mr. Hurwitz is attached as Exhibit 3 to the Amendment
No. 4 to the Statement on Schedule 13G with respect to the Common Stock of
MDU Communications International, Inc., filed on February 14, 2008, and is
incorporated herein by reference.
Page 24
Exhibit 2
IDENTITY OF MEMBERS OF GROUP
SC Fundamental Value Fund, L.P.
SC Fundamental LLC
SC Fundamental Value BVI, Ltd.
SC-BVI Partners
PMC-BVI, Inc.
SC Fundamental BVI, Inc.
SC Opportunity Fund, L.P.
SC Opportunity LLC
Peter M. Collery
Neil H. Koffler
John T. Bird
David A. Hurwitz
SC Fundamental LLC Employee Savings and Profit Sharing Plan
Page 25