13D/A
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CUSIP NO. 68244P107
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Page
11
of 16 Pages
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(d) During the last five years, none of the Reporting Persons have been convicted in any
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, none of the Reporting Persons
have been a party to any civil proceeding of any judicial or administrative body of competent jurisdiction, as a result of which they were or are 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.
(f) Mr. Hale
is a United States citizen.
ITEM 3.
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SOURCE AND AMOUNT OF FUNDS
OR OTHER CONSIDERATION.
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All purchases of the Common Stock held directly
by the Hale Funds have been made by or on behalf of the Hale Funds using the investment capital of the Hale Funds. The aggregate purchase price of the Common Stock held directly by the Hale Funds was approximately $3,428,381.61 (excluding brokerage
commissions and transaction costs).
The 429,628 shares of Common Stock held in the Managed Account were purchased using the funds of the
investor in the Managed Account for which Hale Advisor serves as investment manager. The aggregate purchase price of the Common Stock held in the Managed Account was approximately $2,125,286.69 (excluding brokerage commissions and transaction
costs).
ITEM 4.
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PURPOSE OF THE TRANSACTION.
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The information set forth in Items 3 and 6 of this Statement is hereby incorporated by reference into this Item 4.
The Reporting Persons acquired the securities reported herein for investment purposes and intend to review their investments in the
Company on a continuing basis. Depending on various factors, including but not limited to the Companys financial position and strategic direction, price levels of the Common Stock, conditions in the securities markets, various laws and
regulations applicable to the Company and companies in its industry and the Reporting Persons ownership in the Company, and general economic and industry conditions, the Reporting Persons may in the future take actions with respect to their
investment in the Company as they deem appropriate, including changing their current intentions, with respect to any or all matters required to be disclosed in this Statement. Without limiting the foregoing, the Reporting Persons may, from time to
time, acquire or cause affiliates to acquire additional shares of Common Stock or other securities of the Company (including any combination or derivative thereof), dispose, or cause affiliates to dispose, of some or all of their Common Stock or
other securities of the Company or continue to hold, or cause affiliates to hold, Common Stock or other securities of the Company.
The
Reporting Persons may engage in discussions with the independent members of the Companys Board of Directors, the independent members of the Board of Directors of Ballantyne Strong Inc, the independent members of the Board of Directors of BK
Technologies Corporation, other shareholders of the Company, management and advisors of FedNat Holding Company, and other relevant parties, including representatives of any of the foregoing, concerning the Reporting Persons investment in the
Common Shares and the Company, including, without limitation, matters concerning the Companys business, operations, board appointments, affiliated transactions, conflicts of interest of affiliated parties, governance, management, fundamental
operating performance (including revenues and earnings) of publicly traded companies for the duration of the period in which Kyle Cerminara serves or has served as Chairman or Co-Chairman prior to the
coronavirus pandemic, enterprise value and market capitalization deterioration prior to the coronavirus pandemic of publicly traded companies for whom Kyle Cerminara serves or has served as Chairman or
Co-Chairman, the