SC 13G: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions
Published on February 15, 2007
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
PIZZA INN, INC.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
725848105
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(CUSIP Number)
February 8, 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
13G 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 ("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).
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CUSIP No. 725848105
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1 NAME OF REPORTING PERSON: BC Advisors, LLC
I.R.S. Identification Nos. of above persons (entities only):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER: 518,502
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EACH
NUMBER OF 6 SHARED VOTING POWER: 0
SHARES
BENEFICIALLY ---------- --------------------------------------------
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER: 518,502
REPORTING
PERSON ---------- --------------------------------------------
8 SHARED DISPOSITIVE POWER: 0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,502
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[ ] Rule
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.1%*
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12 TYPE OF REPORTING PERSON
HC/CO
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*Based on 10,138,494 shares of common stock issued and outstanding as of January
30, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the
quarterly period ended December 24, 2006.
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CUSIP No. 725848105
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1 NAME OF REPORTING PERSON: SRB Management, L.P.
I.R.S. Identification Nos. of above persons (entities only):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER: 518,502
---------- --------------------------------------------
NUMBER OF
SHARES 6 SHARED VOTING POWER: 0
BENEFICIALLY
OWNED BY ---------- --------------------------------------------
EACH
REPORTING 7 SOLE DISPOSITIVE POWER: 518,502
PERSON
---------- --------------------------------------------
8 SHARED DISPOSITIVE POWER: 0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,502
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.1%*
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12 TYPE OF REPORTING PERSON
IA/PN
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*Based on 10,138,494 shares of common stock issued and outstanding as of January
30, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the
quarterly period ended December 24, 2006.
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CUSIP No. 725848105
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1 NAME OF REPORTING PERSON: Steven R. Becker
I.R.S. Identification Nos. of above persons (entities only):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER: 518,502
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NUMBER OF
SHARES 6 SHARED VOTING POWER: 0
BENEFICIALLY
OWNED BY ---------- --------------------------------------------
EACH
REPORTING 7 SOLE DISPOSITIVE POWER: 518,502
PERSON
---------- --------------------------------------------
8 SHARED DISPOSITIVE POWER: 0
- -------------- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
518,502
- -------------- -----------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
[]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.1%*
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12 TYPE OF REPORTING PERSON
HC/IN
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*Based on 10,138,494 shares of common stock issued and outstanding as of January
30, 2007, as reported by the issuer in its Quarterly Report on Form 10-Q for the
quarterly period ended December 24, 2006.
This Schedule 13G relates to the common stock ("Common Stock") of PIZZA
INN, INC., acquired by BC Advisors, LLC, a Texas limited liability company
("BCA"), for the account of (1) SRB Greenway Capital, L.P., a Texas
limited partnership ("SRBGC"), (2) SRB Greenway Capital (Q.P.), L.P., a
Texas limited partnership ("SRBQP") and (3) SRB Greenway Offshore
Operating Fund, L.P., a Cayman Islands limited partnership ("SRB
Offshore"). BCA is the general partner of SRB Management, L.P., a Texas
limited partnership ("SRB Management"), which is the general partner of
SRBGC, SRBQP and SRB Offshore. Steven R. Becker is the sole principal of
BCA. Each of the reporting persons hereby expressly disclaims membership
in a "group" under Section 13(d) of the Securities Exchange Act of 1934
and the rules and regulations thereunder with respect to the shares of
Common Stock reported herein, and this Schedule 13G shall not be deemed to
be an admission that any such reporting person is a member of such a
group.
Item 1(a). Name of Issuer: PIZZA INN, INC.
Item 1(b). Address of Issuer's Principal Executive Offices:
3551 Plano Parkway
The Colony, Texas 75056
Item 2(a). Name of Person Filing:
See Item 1 of each cover page.
Item 2(b). Address of Principal Business Office or if none, Residence:
300 Crescent Court, Suite 1111
Dallas, Texas 75201
Item 2(c). Citizenship: See Item 4 of each cover page.
Item 2(d). Title of Class of Securities: Common Stock, par value $0.01
per share
Item 2(e). CUSIP Number: 725848105
Item 3. Not Applicable
Item 4. Ownership:
(a) Amount Beneficially Owned:
Steven R. Becker is the beneficial owner of 518,502 shares of Common
Stock beneficially owned by BCA and SRB Management for the accounts
of SRBGC, SRBQP and SRB Offshore. BCA and SRB Management are the
beneficial owners of 518,502 shares of Common Stock for the accounts
of SRBGC, SRBQP and SRB Offshore.
(b) Percent of Class: See Item 11 of each cover page.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: See Item 5 of each
cover page.
(ii) shared power to vote or to direct the vote: See Item 6 of each
cover page.
(iii) sole power to dispose or to direct the disposition of: See
Item 7 of each cover page.
(iv) shared power to dispose or to direct the disposition of: See
Item 8 of each cover page.
Item 5. Ownership of Five Percent or Less of a Class: Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person: Not applicable.
Item 7. Identification and Classification of Subsidiary Which Acquired
the Securities:
SRB Management is an investment adviser registered with the
State of Texas and, as such, has beneficial ownership of the
securities held by its clients, SRBGC, SRBQP and SRB Offshore.
BCA is the general partner of SRB Management. Steven R. Becker
is the sole principal of BCA, and therefore exercises
investment discretion and control with respect to the shares
of Common Stock beneficially owned by SRB Management's
clients.
Item 8. Identification and Classification of Members of the Group:
Not applicable.
Item 9. Notice of Dissolution of Group: Not applicable.
Item 10. Certification:
By signing below I certify that, to the best of my
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.
SIGNATURE
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.
February 13, 2007
BC ADVISORS, LLC
By: /s/ Steven R. Becker
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Steven R. Becker, Member
SRB MANAGEMENT, L.P.
By: BC Advisors, LLC, its general partner
By: /s/ Steven R. Becker
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Steven R. Becker, Member
/s/ Steven R. Becker
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Steven R. Becker