SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------
SCHEDULE 13G
----------------
Amendment No.
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
L-1 Identity Solutions, Inc.
(NAME OF ISSUER)
Common Stock, $0.001 par value
(TITLE OF CLASS OF SECURITIES)
50212A106
(CUSIP NUMBER)
April 23, 2007
(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)
(Page 1 of 11 Pages)
------------------
* 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).
CUSIP No. 50212A106 13G Page 2 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Highway Partners, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
68,100
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
68,100
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
68,100
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.09%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 3 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Thruway Partners, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
379,500
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
379,500
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
379,500
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.52%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 4 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Roadway Partners, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
466,500
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
466,500
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
466,500
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.64%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 5 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Expressway Partners Master Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
930,374
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
930,374
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
930,374
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.28%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 6 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Freeway Partners Master Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,761,400
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,761,400
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,761,400
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.43 %
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 7 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Motorway Partners Master Fund, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
67,857
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
67,857
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
67,857
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.09 %
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON ** CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 8 of 16 Pages
-----------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Gerald Catenacci
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Canada and United States
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
3,673,731
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
3,673,731
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
3,673,731
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.06%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 50212A106 13G Page 9 of 16 Pages
ITEM 1(a). NAME OF ISSUER:
The name of the issuer is L-1 Identity Solutions Inc. (the "Company").
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
177 Broad Street, 12th Floor, Stamford, CT 06901
ITEM 2(a). NAME OF PERSON FILING:
This statement is filed by:
(i) Highway Partners, L.P., a Delaware limited partnership, with
respect to the shares of Common Stock (defined in Item 2(d)
below) directly owned by it;
(ii) Thruway Partners, L.P., a Delaware limited partnership, with
respect to the shares of Common Stock directly owned by it;
(iii) Roadway Partners, L.P., a Delaware limited partnership, with
respect to the shares of Common Stock directly owned by it;
(iv) Expressway Partners Master Fund, Ltd., a Cayman Islands exempted
company, with respect to the shares of Common Stock directly
owned by it;
(v) Freeway Partners Master Fund, Ltd., a Cayman Islands exempted
company, with respect to the shares of Common Stock directly
owned by it;
(vi) Motorway Partners Master Fund, Ltd., a Cayman Islands exempted
company, with respect to the shares of Common Stock directly
owned by it; and
(vii) Gerald Catenacci ("Mr. Catenacci"), the managing member of
Principled Capital Management, L.L.C., the general partner of
each of Highway Partners, L.P., Thruway Partners, L.P. and
Roadway Partners, L.P. may, by virtue of his position as managing
member to the general partner, be deemed to have power to direct
the voting and disposition of the Common Stock held or controlled
by Highway Partners, L.P., Thruway Partners, L.P., and Roadway
Partners, L.P. Mr. Catenacci is also the managing member of
Principled Asset Administration, L.L.C., the investment adviser
to Expressway Partners Master Fund, Ltd., Freeway Partners Master
Fund, Ltd. and Motorway Partners Master Fund, Ltd. and may, by
virtue of his position as managing member to the investment
adviser, be deemed to have power to direct the voting and
disposition of the Common Stock held or controlled by Expressway
Partners Master Fund, Ltd., Freeway Partners Master Fund, Ltd.
and Motorway Partners Master Fund, Ltd. Mr. Catenacci disclaims
beneficial ownership of the Common Stock reported herein.
The foregoing persons are hereinafter sometimes collectively
referred to as the "Reporting Persons". Any disclosures herein with
respect to persons other than the Reporting Persons are made on
information and belief after making inquiry to the appropriate party.
ITEM 2(b). ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:
The address of the business office of each of the Reporting Persons,
with the exception of Expressway Partners Master Fund, Ltd., Freeway Partners
Master Fund, Ltd. and Motorway Partners Master Fund, Ltd. is 666 Fifth Ave, 37th
Floor, New York, New York 10103.
The address of the registered business office of Expressway Partners
Master Fund, Ltd., Freeway Partners Master Fund, Ltd. and Motorway Partners
Master Fund, Ltd. is Walkers SPV Limited, Walker House, PO Box 908GT, Mary
Street, George Town, Grand Cayman, Cayman Islands.
ITEM 2(c). CITIZENSHIP:
Highway Partners, L.P., Thruway Partners, L.P. and Roadway Partners,
L.P. are Delaware limited partnerships. Expressway Partners Master Fund, Ltd.,
Freeway Partners Master Fund, Ltd. and Motorway Partners Master Fund, Ltd. are
Cayman Islands exempted companies. Mr. Catenacci has citizenship in Canada and
the United States.
CUSIP No. 50212A106 13G Page 10 of 16 Pages
ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, $0.001 par value
("Common Stock")
ITEM 2(e). CUSIP NUMBER: 50212A106
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-
2(b), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the
Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Rule 13d-
1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G); see item 7
(h) ( ) Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
If this statement is filed pursuant to Rule 13d-1(c), check the box. [X]
CUSIP No. 50212A106 13G Page 11 of 16 Pages
ITEM 4. OWNERSHIP.
A. Highway Partners, L.P.
(a) Amount beneficially owned: 68,100
(b) Percent of class: 0.09% The percentages used herein
and in the rest of Item 4 are calculated based upon
the 72,577,549 shares of Common Stock issued and
outstanding as of March 14, 2007 as reflected in the
issuer's Form 10-K filed March 14, 2007.
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 68,100
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 68,100
B. Thruway Partners, L.P.
(a) Amount beneficially owned: 379,500
(b) Percent of class: 0.52%
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 379,500
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 379,500
C. Roadway Partners, L.P.
(a) Amount beneficially owned: 466,500
(b) Percent of class: 0.64%.
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 466,500
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 466,500
D. Expressway Partners Master Fund, Ltd.
(a) Amount beneficially owned: 930,374
(b) Percent of class: 1.28%.
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 930,374
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 930,374
E. Freeway Partners Master Fund, Ltd.
(a) Amount beneficially owned: 1,761,400
(b) Percent of class: 2.43%.
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,761,400
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 1,761,400
F. Motorway Partners Master Fund, Ltd.
(a) Amount beneficially owned: 67,857
(b) Percent of class: 0.09%.
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 67,857
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 67,857
G. Gerald Catenacci
(a) Amount beneficially owned: 3,673,731
(b) Percent of class: 5.06%
(c) (i) Sole Power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 3,673,731
CUSIP No. 50212A106 13G Page 12 of 16 Pages
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 3,673,731
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.
Principled Capital Management, L.L.C., the general partner of Highway
Partners, L.P., Thruway Partners, L.P. and Roadway Partners, L.P. has the power
to vote and direct the disposition of the proceeds from the sale of the shares
of Common Stock owned by Highway Partners, L.P., Thruway Partners, L.P. and
Roadway Partners, L.P., and accordingly may be deemed the direct "beneficial
owner" of such shares of Common Stock.
Principled Asset Administration, L.L.C., the investment adviser of
Expressway Partners Master Fund, Ltd., Freeway Partners Master Fund, Ltd. and
Motorway Partners Master Fund, Ltd. has the power to vote and direct the
disposition of the proceeds from the sale of the shares of Common Stock owned by
Expressway Partners Master Fund, Ltd., Freeway Partners Master Fund, Ltd. and
Motorway Partners Master Fund, Ltd. and accordingly may be deemed the direct
"beneficial owner" of such shares of Common Stock.
Mr. Catenacci is the managing member of Principled Capital Management,
L.L.C. and Principled Asset Administration, L.L.C., and in that capacity directs
their operations and therefore may be deemed to be the indirect "beneficial
owner" of the shares of Common Stock owned by Highway Partners, L.P., Thruway
Partners, L.P., Roadway Partners, L.P., Expressway Partners Master Fund, Ltd.,
Freeway Partners Master Fund, Ltd. and Motorway Partners Master Fund, Ltd.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION. (if filing pursuant to Rule 13d-1(b))
By signing below I certify, to the best of their knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business, were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
CUSIP No. 50212A106 13G Page 13 of 16 Pages
SIGNATURE
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
DATED: as of May 2, 2007
HIGHWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
THRUWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
ROADWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
EXPRESSWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
FREEWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
CUSIP No. 50212A106 13G Page 14 of 16 Pages
MOTORWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
GERALD CATENACCI, INDIVIDUALLY
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
CUSIP No. 50212A106 13G Page 15 of 16 Pages
EXHIBIT 1
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing statements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning him, her or it contained herein, but shall not be
responsible for the completeness and accuracy of the information concerning the
other entities or persons, except to the extent that he, she or it knows or has
reason to believe that such information is inaccurate.
Dated: as of May 2, 2007
HIGHWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
THRUWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
ROADWAY PARTNERS, L.P.
BY: PRINCIPLED CAPITAL MANAGEMENT, L.L.C.
GENERAL PARTNER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
EXPRESSWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
CUSIP No. 50212A106 13G Page 16 of 16 Pages
FREEWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
MOTORWAY PARTNERS MASTER FUND, LTD.
BY: PRINCIPLED ASSET ADMINISTRATION, L.L.C.
INVESTMENT ADVISER
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci
Managing Member
GERALD CATENACCI, INDIVIDUALLY
BY:/s/ Gerald Catenacci
--------------------
Gerald Catenacci