Cove Street Capital Reduces Research Solutions Stake

TL;DR

Cove Street Capital just cut their Research Solutions stake by 1%.

AI Summary

Cove Street Capital, LLC has filed an amendment (No. 2) to its Schedule 13D, reporting a decrease of 1% in its beneficial ownership of Research Solutions, Inc. common stock as of April 29, 2024. The filing indicates a change in their holdings, though specific new ownership percentages or dollar amounts are not detailed in this excerpt.

Why It Matters

This filing signals a shift in a significant investor's position in Research Solutions, Inc., which could influence market perception and stock price.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by significant investors can indicate shifts in strategy or outlook, potentially impacting the stock's volatility.

Key Numbers

• 1% — Ownership Change (Reported decrease in beneficial ownership by Cove Street Capital, LLC)

Key Players & Entities

• Cove Street Capital, LLC (company) — Filing entity reporting ownership change
• Research Solutions, Inc. (company) — Issuer of the securities
• Merihan Tynan (person) — Authorized person to receive notices for Cove Street Capital, LLC

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
• $0.01 — 0,507 shares of Common Stock, par value $0.01 per share outstanding as of February 5t
• $7,879,623 — eficially owned by CSC is approximately $7,879,623 including brokerage commissions. Item

Filing Documents

• rsss13da04292024.htm (SC 13D/A) — 62KB
• 0001531612-24-000020.txt ( ) — 63KB

Security and Issuer

Item 1. Security and Issuer. This "Issuer" or "RSSS"). The principal executive offices of the Issuer are located at 10624 S. EASTERN AVE, SUITE A-614, HENDERSON, NV, 89052. Item 2. Identity and Background. a ) This statement is filed by: (i) Cove Street Capital, LLC, a Delaware limited liability company (“CSC”), with respect to the Shares beneficially owned by it; and (ii) Jeffrey Bronchick, as a member of CSC. Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D. b) T h e a d dress of the principal office of each of the Reporting Persons is 525 South Douglas Street, Suite 225, El Se g u n do, CA 9 0 245 c) The principal business of CSC is providing investment advisory and investment management services. Mr. Bronchick serves as a member of CSC. d) No Reporting Person has, d u ri n g the l a st five ye a rs, b e en conv i ct e d i n a crimi n al proc e e d ing (exc l u d ing tr a ff i c vio l atio n s or simil a r m i sd e mea n ors). e) No Reporting Person has, d u ri n g t h e l a st five y ea rs, been a p a rty t o a civil p roc e e d ing of a j u dicial o r a d ministr a tive bo d y o f c o mpet e n t j u ris d icti o n an d , a s a r e su l t of such p roce e d i ng, w a s o r i s s u bj e ct to a jud g ment, d e cr e e or fin a l ord e r ( 1 ) en j oi n i n g f u t u re vi o lati o ns of, o r p ro h ib i t i n g o r m a n d ating activities subject to, f e deral or state sec u rities l a ws, or ( 2 ) f i nd i ng a n y vio l ati o n with r e spect to s u ch l a ws. f) CSC is organized under the laws of the state of Delaware. Mr. Bronchick is a cit

Purpose of Transaction

Item 4. Purpose of Transaction. This 13D filing is to reflect the change of 1% in ownership. Last Filing was 13D dated September 2023. The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance.

Interest

Item 5. Interest in Securities of the Issuer. The aggregate percentages calculated based on 32,620,507 shares of Common Stock, par value $0.01 per share outstanding as of February 5th, 2024 as reported in the Form 10-Q for the fiscal year ended December 31st, 2023 of Research Solutions, Inc. filed 2024-02-12. A. CSC (a) As of April 28, 2024, CSC beneficially owned 3,433,822 Shares. Percentage: Approximately 10.53% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,848,355 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 3,433,882 (c) The transactions in the Shares by CSC since the last filing are set forth in Schedule A and are incorporated herein by reference. B. Mr. Bronchick (a) As of April 28, 2024, Mr. Bronchick beneficially owns any RSSS Common Stock, however as a member of CSC, Mr. Bronchick may be deemed the beneficial owner of the 3,433,882 Shares owned by CSC. Percentage: Approximately 10.53% (b) 1. Sole power to vote or direct vote: 33,740 2. Shared power to vote or direct vote: 1,814,615 3. Sole power to dispose or direct the disposition: 33,740 4. Shared power to dispose or direct the disposition: 3,400,142. (c) Outside of the account under the Management of Cove Street Capital, Mr. Bronchick, in a related account owns 19,370 shares. (d) CSC Partners Fund, LP a Delaware limited partnership operated as a private investment partnership managed by Cove Street Capital LLC owns 821,496. The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the securities reported herein. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that are not directly owned by such Reporting Person, except to the extent of their pecuniary

Contracts,

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Except as otherwise described in the original Schedule 13D, there are no contracts, arrangements, understandings, or relationships (legal or otherwise) among CSC, or between any third party, with respect to any securities of the Issuer.

Material

Item 7. Material to Be Filed as Exhibits. N/A CUSIP No. 761025105 13D Page 4 of 5 Pages 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. Dated:April 29, 2024 Cove Street Capital LLC /s/ Merihan Tynan Name: Merihan Tynan Title: Chief Compliance Officer; Principal /s/ Jeffrey Bronchick Jeffrey Bronchick CUSIP No. 761025105 13D Page 5 of 5 Pages SCHEDULE A Transactions in the Shares since last filing of April 28th 2024 COVE STREET CAPITAL, LLC Nature of the Transaction Securities Purchased/(Sold) Price ($) Date of Purchase / Sale Common Stock Change of ownership due to increase in Outstanding shares

View Full Filing

View this SC 13D/A filing on SEC EDGAR