UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Metro One Telecommmunications
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(Name of Issuer)
Common Stock
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(Title of Class Securities)
59163f105
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(CUSIP Number)
Mark R. Diamond
Cannell Capital, LLC, 150 California Street, 5th Floor, San Francisco, CA
94111 (415) 835-8300
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 4, 2003
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(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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss.240.13d-7 for
other parties to whom copies are to be sent.
*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
disclosure 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a current
valid OMB control number.
CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Cannell Capital, LLC
94-3366999
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) OO.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization California...................
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Number of 7. Sole Voting Power 0...............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 2,447,587........................
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9. Sole Dispositive Power 0............................
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10. Shared Dispositive Power 2,447,587.....................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 2,447,587
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 9.9%
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14............................Type of Reporting Person (See Instructions)
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IA.......................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
J. Carlo Cannell
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) OO.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization USA..........................
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Number of 7. Sole Voting Power 0 ..............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 2,447,587........................
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9. Sole Dispositive Power 0............................
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10. Shared Dispositive Power 2,447,587.....................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 2,447,587
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 9.9%
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14............................Type of Reporting Person (See Instructions)
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IN/HC....................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
The Cuttyhunk Fund Limited
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) WC.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization Bermuda......................
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Number of 7. Sole Voting Power 0 .............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 591,100.........................
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9. Sole Dispositive Power 0 ............................
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10. Shared Dispositive Power 591,100.....................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 591,100
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 2.4%
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14............................Type of Reporting Person (See Instructions)
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CO.......................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
The Anegada Fund Limited
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) WC.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization Cayman Islands...............
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Number of 7. Sole Voting Power 0 ..............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 609,282..........................
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9. Sole Dispositive Power 0 ............................
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10. Shared Dispositive Power 609,282......................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 609,282
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 2.5%
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14............................Type of Reporting Person (See Instructions)
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CO.......................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GS Cannell, LLC
98-0232642
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) WC.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization Delaware.....................
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Number of 7. Sole Voting Power 0...............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 218,600.........................
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9. Sole Dispositive Power 0 ............................
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10. Shared Dispositive Power 218,600.........................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 218,600
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 0.9%
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14............................Type of Reporting Person (See Instructions)
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OO.......................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Tonga Partners, L.P.
94-3164039
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) WC.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization Delaware.....................
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Number of 7. Sole Voting Power 0 .............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 907,305....................
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9. Sole Dispositive Power 0............................
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10. Shared Dispositive Power 907,305.....................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 907,305
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 3.7%
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14............................Type of Reporting Person (See Instructions)
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PN.......................................................................
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CUSIP No. 59163f105
1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Pleiades Investment Partners, LP
23-2688812
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X].................................................................
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(b) .................................................................
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3. SEC Use Only..........................................................
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4. Source of Funds (See Instructions) WC.................................
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5. Check if Disclosure of Legal Proceeding Is Required Pursuant to Items
2(d) or 2(e)................................................................
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6. Citizenship or Place of Organization Delaware.....................
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Number of 7. Sole Voting Power 0 .............................
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Shares
Beneficially
Owned by
Each
Reporting
Person
With:
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8. Shared Voting Power 121,300..........................
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9. Sole Dispositive Power 0............................
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10. Shared Dispositive Power 121,300......................
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11.Aggregate Amount Beneficially Owned by Each Reporting Person 121,300
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12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.............Percent of Class Represented by Amount in Row (11) 0.5%
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14............................Type of Reporting Person (See Instructions)
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PN.......................................................................
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Item 1 Security and Issuer
This statement relates to Common Stock ("Common Stock"), issued by
Metro One Communications, an Oregon Corporation. The address of
the principal executive offices of Metro One Communications is
11200 Murray Scholls Place, Beaverton OR 97007
Item 2 Identity and Background
Name: Cannell Capital, LLC ("Adviser")
Place of Organization: California
Principal Business: Investment Adviser
Address: 150 California Street, 5th Floor, San Francisco, CA 94111
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: The Cuttyhunk Fund Limited ("Cuttyhunk")
Place of Organization: Bermuda
Principal Business: Investment
Address: 73 Front Street, Hamilton, Bermuda HM 12
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: The Anegada Fund Limited ("Anegada")
Place of Organization: Cayman Islands
Principal Business: Investment
Address: c/o Bank of Butterfield International (Cayman) Ltd., 68
Fort Street, PO Box 705, George Town, Grand Cayman, Cayman Islands
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: Tonga Partners, L.P. ("Tonga")
Place of Organization: Delaware
Principal Business: Investment
Address: 150 California Street, 5th Floor, San Francisco, CA 94111
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: GS Cannell, LLC ("GSC")
Place of Organization: Delaware
Principal Business: Investment
Address: 701 Mount Lucas Road, CN 850, Princeton, NJ 08542
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: Pleiades Investment Partners, LP ("Pleiades")
Place of Organization: Delaware
Principal Business: Investment
Address: 6022 West Chester Pike, Newtown Square, PA 19073
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Name: J. Carlo Cannell
Address: 150 California Street, 5th Floor, San Francisco, CA 94111
Criminal Proceedings: None
Applicable Civil, Judicial or Administrative Proceedings: None
Citizenship: United States
J Carlo Cannell is the controlling and managing member of Adviser.
Adviser serves as investment adviser to Cuttyhunk, Anegada, GSC, and
Pleiades. Adviser is general partner and investment adviser to Tonga.
Item 3 Source and amount of Funds or other Consideration
The aggregate amount of funds used by Cuttyhunk to purchase 591,100
shares of Common Stock owned by it was approximately $2,619,579. Such
amount was derived from working capital.
The aggregate amount of funds used by Anegada to purchase 609,282 shares
of Common Stock owned by it was approximately $3,062,674. Such amount
was derived from working capital.
The aggregate amount of funds used by GSC to purchase 218,600 shares of
Common Stock owned by it was approximately $979,074. Such amount was
derived from working capital.
The aggregate amount of funds used by Tonga to purchase 907,305 shares
of Common Stock owned by it was approximately $4,136,291. Such amount
was derived from working capital.
The aggregate amount of funds used by Pleiades to purchase 121,300
shares of Common Stock owned by it was approximately $538,072. Such
amount was derived from working capital.
Item 4 Purpose of Transaction
The Common Stock was bought in the ordinary course of the Adviser's
management of the accounts of its investment advisory clients. As of
November 4, 2003 the Reporting Persons commenced the formulation of
plans to seek maximization of the value of the Common Stock. Such plans
may include, but may not necessarily be limited to, pursuit of strategic
initiatives to enhance shareholder value.
Subject to availability at prices deemed favorable and in accordance
with applicable laws and regulations, the Reporting Persons may acquire
shares of Common Stock of the Company from time to time in the open
market, in privately negotiated transactions or otherwise. The
Reporting Persons may dispose of shares of Common Stock of the Company
from time to time in the open market, in privately negotiated
transactions or otherwise.
Except as set forth above, the Reporting Persons has no present plans
or intentions that relate to or that would result in any of the
transactions described in clauses (a) through (j) of item 4 of
Schedule 13D.
Item 5 Interest in Securities of the Issuer
(a) As of November 4, 2003, the Reporting Persons directly or indirectly
beneficially owned 2,447,587 shares, or 9.9%, of Common Stock of
Metro One Communications (the approximate number of the shares of Common
Stock owned is based on 24,697,948 shares of common stock outstanding
by Metro One Communications, on Aug. 7, 2003).
(1) Cuttyhunk owns 591,100 shares (2.4%) (2) Anegada owns 609,282
shares (2.5%) (3) GS Cannell owns 218,600 shares (0.9%) (4) Tonga
owns 907,305 shares (3.7%) (5) Pleiades owns 121,300 shares (0.5%)
(b) The responses of the Reporting Persons to Items 7 through 11 of the
portions of the cover page of this Schedule D which relate to beneficial
ownership of shares of the Common Stock are incorporated herein by
reference.
(c) A list of transactions during the past 60 days.
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Party Date Amount Price per Where & How
Bought Share Effected
(Sold)
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ANEGADA 10/01/2003 (34,469) 3.548 Open Market
ANEGADA 10/02/2003 (3,048) 3.461 Open Market
ANEGADA 10/02/2003 (8,500) 3.461 Open Market
ANEGADA 10/03/2003 (13,700) 3.441 Open Market
ANEGADA 10/03/2003 (15,500) 3.446 Open Market
ANEGADA 10/06/2003 (29,418) 3.457 Open Market
ANEGADA 10/07/2003 (9,400) 3.489 Open Market
ANEGADA 10/07/2003 4,900 3.540 Open Market
ANEGADA 10/29/2003 9,500 2.590 Open Market
ANEGADA 10/30/2003 24,951 2.643 Open Market
ANEGADA 10/31/2003 13,173 2.625 Open Market
ANEGADA 11/03/2003 10,827 2.721 Open Market
ANEGADA 11/04/2003 28,249 2.739 Open Market
CUTTYHUNK 10/01/2003 (12,600) 3.548 Open Market
CUTTYHUNK 10/01/2003 (7,000) 3.548 Open Market
CUTTYHUNK 10/01/2003 (11,600) 3.548 Open Market
CUTTYHUNK 10/02/2003 (10,400) 3.461 Open Market
CUTTYHUNK 10/03/2003 (12,500) 3.441 Open Market
CUTTYHUNK 10/03/2003 (14,000) 3.446 Open Market
CUTTYHUNK 10/06/2003 (26,700) 3.457 Open Market
CUTTYHUNK 10/07/2003 (8,600) 3.489 Open Market
CUTTYHUNK 10/07/2003 4,900 3.540 Open Market
CUTTYHUNK 10/29/2003 12,800 2.590 Open Market
CUTTYHUNK 10/30/2003 33,500 2.643 Open Market
CUTTYHUNK 10/31/2003 17,600 2.625 Open Market
CUTTYHUNK 11/03/2003 14,500 2.722 Open Market
CUTTYHUNK 11/04/2003 37,900 2.739 Open Market
GS CANNELL 10/01/2003 (11,400) 3.548 Open Market
GS CANNELL 10/02/2003 (3,800) 3.461 Open Market
GS CANNELL 10/03/2003 (4,500) 3.441 Open Market
GS CANNELL 10/03/2003 (5,100) 3.446 Open Market
GS CANNELL 10/06/2003 (9,700) 3.457 Open Market
GS CANNELL 10/07/2003 (3,100) 3.489 Open Market
GS CANNELL 10/07/2003 1,800 3.540 Open Market
GS CANNELL 10/29/2003 5,000 2.590 Open Market
GS CANNELL 10/30/2003 13,200 2.643 Open Market
GS CANNELL 10/31/2003 6,900 2.625 Open Market
GS CANNELL 11/03/2003 5,700 2.722 Open Market
GS CANNELL 11/04/2003 14,900 2.739 Open Market
PLEIADES 10/01/2003 (1,400) 3.548 Open Market
PLEIADES 10/01/2003 (5,100) 3.548 Open Market
PLEIADES 10/02/2003 (2,200) 3.461 Open Market
PLEIADES 10/03/2003 (2,600) 3.441 Open Market
PLEIADES 10/03/2003 (2,900) 3.446 Open Market
PLEIADES 10/06/2003 (5,500) 3.457 Open Market
PLEIADES 10/07/2003 (1,800) 3.489 Open Market
PLEIADES 10/07/2003 1,000 3.540 Open Market
PLEIADES 10/29/2003 2,600 2.590 Open Market
PLEIADES 10/30/2003 6,700 2.643 Open Market
PLEIADES 10/31/2003 3,500 2.625 Open Market
PLEIADES 11/03/2003 2,900 2.722 Open Market
PLEIADES 11/04/2003 7,700 2.739 Open Market
TONGA 10/01/2003 (400) 3.548 Open Market
TONGA 10/01/2003 (12,800) 3.548 Open Market
TONGA 10/01/2003 (15,000) 3.548 Open Market
TONGA 10/01/2003 (3,200) 3.548 Open Market
TONGA 10/01/2003 (9,100) 3.548 Open Market
TONGA 10/01/2003 (700) 3.548 Open Market
TONGA 10/01/2003 (8,300) 3.548 Open Market
TONGA 10/02/2003 (16,600) 3.461 Open Market
TONGA 10/03/2003 (19,800) 3.441 Open Market
TONGA 10/03/2003 (15,100) 3.446 Open Market
TONGA 10/03/2003 (7,295) 3.446 Open Market
TONGA 10/06/2003 (42,200) 3.457 Open Market
TONGA 10/07/2003 (13,500) 3.489 Open Market
TONGA 10/07/2003 7,500 3.540 Open Market
TONGA 10/29/2003 17,000 2.590 Open Market
TONGA 10/30/2003 44,700 2.643 Open Market
TONGA 10/31/2003 23,500 2.625 Open Market
TONGA 11/03/2003 19,400 2.722 Open Market
TONGA 11/04/2003 50,600 2.739 Open Market
(d) Not Applicable
(e) Not Applicable
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
J. Carlo Cannell controls and manages the Adviser who makes voting and
dispositive decisions for Cuttyhunk, Anegada, GS Cannell, Tonga, and
Pleiades.
Item 7 Material to Be Filed as Exhibits
N/A
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.
Date: November 11, 2003
J. Carlo Cannell
/s/ J. Carlo Cannell
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J. Carlo Cannell
Cannell Capital, LLC
/s/ J. Carlo Cannell
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J. Carlo Cannell, Managing Member
The Anegada Fund, Limited
/s/ J. Carlo Cannell
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J. Carlo Cannell, Managing Member
Cannell Capital, LLC, Investment Adviser
The Cuttyhunk Fund Limited
/s/ J. Carlo Cannell
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J. Carlo Cannell, Managing Member
Cannell Capital, LLC, Investment Adviser
GS Cannell, LLC
/s/ J. Carlo Cannell
------------------------------
J. Carlo Cannell, Managing Member
Cannell Capital, LLC, Investment Adviser
Tonga Partners, L.P.
/s/ J. Carlo Cannell
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J. Carlo Cannell, Managing Member
Cannell Capital, LLC, General Partner
Pleiades Investment Partners, LP
/s/ J. Carlo Cannell
-------------------------------
J. Carlo Cannell, Managing Member
Cannell Capital, LLC, Investment Adviser