SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(a)
Amendment No. 4
Electronic Systems Technology, Inc.
(NAME OF ISSUER)
Common Stock
(TITLE OF CLASS OF SECURITIES)
285848107
(CUSIP NUMBER)
Paul D. Sonkin
Hummingbird Management, LLC
(f/k/a Morningside Value Investors, LLC)
460 Park Avenue, 12th Floor
New York, New York 10022
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
September 11, 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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on following pages)
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CUSIP No. 285848107 13D/A Page 2 of 10 Pages
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1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Management, LLC
(f/k/a Morningside Value Investors, LLC)
IRS No. 13-4082842
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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 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 831,252
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
831,252
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
831,252
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
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CUSIP No. 285848107 13D/A Page 3 of 10 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Paul D. Sonkin
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 831,252
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
831,252
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
831,252
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
================================================================================
------------------------ ----------------------------
CUSIP No. 285848107 13D/A Page 4 of 10 Pages
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================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Capital, LLC
(f/k/a Morningside Capital, LLC)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 831,252
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
831,252
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
831,252
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
================================================================================
------------------------ ----------------------------
CUSIP No. 285848107 13D/A Page 5 of 10 Pages
------------------------ ----------------------------
================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 317,234
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
317,234
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
317,234
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
------------------------ ----------------------------
CUSIP No. 285848107 13D/A Page 6 of 10 Pages
------------------------ ----------------------------
================================================================================
1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hummingbird Microcap Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 257,726
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
257,726
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
257,726
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
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CUSIP No. 285848107 13D/A Page 7 of 10 Pages
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1 NAME OF REPORTING PERSONS S.S. OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tarsier Nanocap Value Fund, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 256,292
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
256,292
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
256,292
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
LP
================================================================================
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CUSIP No. 285848107 13D/A Page 8 of 10 Pages
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AMENDMENT NO. 4 TO SCHEDULE 13D
This Amendment No. 4, dated September 12, 2007 to Schedule 13D is
filed by the Reporting Persons and amends the Schedule the 13D as previously
filed by the Reporting Persons with the Securities and Exchange Commission
on January 4, 2007 (the "Schedule 13D"),relating to the common Stock, $.001
par value (the "Common Stock") of ELECTRONIC SYSTEMS TECHNOLOGY, INC. a
Washington Corporation.
Items 3 and 5 are hereby amended and restated, as follows:
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
As of September 12, 2007, Hummingbird has caused HVF, Microcap
Fund,and Tarsier Fund to invest approximately $206,929, $170,989, and
$175,075, respectively, in the Shares of the Issuer using their working
capital.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a) As investment manager of HVF, Microcap Fund, and Tarsier
Fund, Hummingbird may be deemed to have the sole voting and investment
authority over the Shares owned by HVF, Microcap Fund, and Tarsier Fund,
for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as
amended ("Rule 13d-3"), may be deemed to be the beneficial owner of
831,252 Shares representing approximately 16.2% of the outstanding shares
of the Issuer (based upon 5,153,667 shares of Common Stock outstanding as of
August 13, 2007 as reported on Form 10-QSB for the period ended
June 30, 2007.)Hummingbird disclaims any beneficial ownership of the
Shares covered by this Statement.
Mr. Sonkin is the managing member and control person of Hummingbird,
and for purposes of Rule 13d-3 may be deemed the beneficial owner of such
Shares deemed to be beneficially owned by Hummingbird. Thus, Mr. Sonkin may
be deemed, for purposes of Rule 13d-3, to be may be deemed to be the
beneficial owner of 831,252 Shares representing approximately 16.2% of the
outstanding shares of the Issuer (based upon 5,153,667 shares of Common Stock
outstanding as of August 13, 2007 as reported on Form 10-QSB for the period
ended June 30, 2007.) Mr. Sonkin disclaimsany economic interest or beneficial
ownership of the Shares covered by this Statement.
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CUSIP No. 285848107 13D/A Page 9 of 10 Pages
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HC, as the general partner of each of HVF, Microcap Fund, and
Tarsier Fund, Hummingbird may be deemed to have the sole voting and
investment authority over the Shares owned by HVF, Microcap Fund, and
Tarsier Fund, for purposes of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended ("Rule 13d-3"), may be deemed to be the
beneficial owner of 831,252 Shares representing approximately 16.2% of the
outstanding shares of the Issuer (based upon 5,153,667 shares of Common Stock
outstanding as of August 13, 2007 as reported on Form 10-QSB for the period
ended June 30, 2007.) HC disclaims any beneficial ownership of the Shares
covered by this Statement.
HVF is the beneficial owner of 317,234 Shares or 6.2% of the
outstanding shares of the Issuer.
Microcap Fund is the beneficial owner of 257,726 Shares or 5.0%
of the outstanding shares of the Issuer.
Tarsier Fund is the beneficial owner of 256,292 Shares or 5.0%
of the outstanding shares of the Issuer.
(c) Hummingbird caused HVF to effect transactions in
the Shares during the past 60 days as set forth below:
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
8/22/2007 open market purchase 750 1.017
8/27/2007 open market purchase 500 0.950
8/28/2007 open market purchase 250 0.950
8/29/2007 open market purchase 550 0.940
8/30/2007 open market purchase 250 1.000
8/31/2007 open market purchase 750 1.000
9/10/2007 open market purchase 500 0.980
9/11/2007 open market purchase 350 1.010
Hummingbird caused Microcap Fund to effect transactions in
the Shares during the past 60 days as set forth below:
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
8/22/2007 open market purchase 750 1.017
8/28/2007 open market purchase 250 0.950
8/29/2007 open market purchase 550 0.940
8/30/2007 open market purchase 250 1.000
8/31/2007 open market purchase 750 1.000
9/10/2007 open market purchase 500 0.980
9/11/2007 open market purchase 350 1.010
Hummingbird caused Tarsier Fund to effect transactions in
the Shares during the past 60 days as set forth below:
NUMBER OF
DATE TYPE SHARES PRICE/SHARE
---- ---- ------ -----------
8/6/2007 open market purchase 1,000 0.990
8/15/2007 open market purchase 1,000 0.980
8/16/2007 open market purchase 2,000 0.980
8/17/2007 open market purchase 1,000 0.950
8/20/2007 open market purchase 500 1.010
9/10/2007 open market purchase 1,000 0.980
9/11/2007 open market purchase 300 1.010
(d) Inapplicable.
(e) Inapplicable.
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CUSIP No. 285848107 13D/A Page 10 of 10 Pages
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: September 12, 2007 HUMMINGBIRD MANAGEMENT, LLC
(f/k/a Morningside Value Investors, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
/s/ Paul D. Sonkin
-------------------------------------
PAUL D. SONKIN
HUMMINGBIRD VALUE FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD MICROCAP VALUE
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
Tarsier Nanocap Value
FUND, L.P.
By: Hummingbird Capital, LLC
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
HUMMINGBIRD CAPITAL, LLC
(f/k/a Morningside Capital, LLC)
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin
Title: Managing Member
By: /s/ Paul D. Sonkin
---------------------------------
Name: Paul D. Sonkin