IEHC IEH Corporation (PK)

(1) Percentage calculated based on 2,370,251 shares of Common Stock, par value $0.01 per share, outstanding as of October 6, 2020 as reported in the Form 10-K for the fiscal year ended March 31, 2020 of IEH Corporation. (2) 320 Shares owned by Jeffrey Bronchick are in an SMA managed by Cove Street Captial LLC. (3) CSC Partners Fund, LP a Delaware limited partnership operated as a private investment partnership managed by Cove Street Capital LLC.

(1) Percentage calculated based on 2,370,251 shares of Common Stock, par value $0.01 per share, outstanding as of October 6, 2020 as reported in the Form 10-K for the fiscal year ended March 31, 2020 of IEH Corporation. (2) 320 Shares owned by Jeffrey Bronchick are in an SMA managed by Cove Street Captial LLC. (3) CSC Partners Fund, LP a Delaware limited partnership operated as a private investment partnership managed by Cove Street Capital LLC.

(1) Percentage calculated based on 2,370,251 shares of Common Stock, par value $0.01 per share, outstanding as of October 6, 2020 as reported in the Form 10-K for the fiscal year ended March 31, 2020 of IEH Corporation. (2) 320 Shares owned by Jeffrey Bronchick are in an SMA managed by Cove Street Captial LLC. (3) CSC Partners Fund, LP a Delaware limited partnership operated as a private investment partnership managed by Cove Street Capital LLC.

Item 1.  Security and Issuer.

(a) Name of Issuer: IEH Corporation

(b) Address of Issuer’s Principal Executive Offices: 140 58th Street, Suite 8E, Brooklyn, NY 11220.

Item 2.  Identity and Background.

(a) This Schedule 13D is filed by.

(i) Cove Street Capital, LLC, a Delaware limited liability company (“Cove Street Capital”), and

(ii) Jeffrey Bronchick

(iii) CSC Partners Fund controlled by Cove Street Capital LLC

Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”

(b) The address of the principal office of each of the Reporting Persons is 525 South Douglas Street, Suite 225, El Segundo, California, 90245.

(c) The principal business of Cove Street Capital is investing in securities. Mr. Bronchick’s principal occupation is as Principal and Portfolio Manager of Cove Street Capital.

(d) No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors)

(e) No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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) Cove Street Capital is organized under the laws of the State of Delaware. Mr. Bronchick is a United States citizen

Item 3.  Source or Amount of Funds or Other Consideration.

The securities of the Issuer purchased by Cove Street Capital were purchased with working capital. The aggregate purchase price of the 136,349 of Common Stock Shares owned directly by Cove Street Capital is approximately $1,604,885.

Item 4.  Purpose of Transaction.

The Reporting Persons purchased the Shares based on their belief that the Shares, when purchased, constituted 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 believe the Shares are currently undervalued and have privately engaged in discussions with the Issuer’s management and its board of directors (the “Board”) about, among other things, improving operational performance, corporate governance issues, and investor relations post the Issuer’s attainment of “current” status in their filings with the SEC. The Reporting Persons believe that there is an opportunity to significantly improve the Issuer’s share value.  

The Reporting Persons do not have any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. Depending on various factors including, without limitation, the Issuer’s financial position, results and strategic direction, actions taken by the Issuer’s management and the Board, other investment opportunities available to the Reporting Persons, 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 and information exchanges with the Issuer’s management and Board, engaging in discussions with shareholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, making recommendations concerning changes to the Issuer’s operations, governance or capitalization, 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, acquiring additional Shares, disposing of some or all of Shares, or changing their intention with respect to any and all matters referred to in Item 4.

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Item 5.  Interest in Securities of the Issuer.

(a) As of the date hereof, Cove Street Capital directly beneficially owned 136,349 Shares, constituting approximately 5.75% of the Shares outstanding.

(b) By virtue of his respective position with Cove Street Capital, Mr. Bronchick may be deemed to have sole power to vote and dispose of the Shares directly beneficially owned by Cove Street Capital.

(c) Other than in connection with the Purchase Agreement, there have been no transactions in securities of the Issuer by the Reporting Persons during the past 60 days.

(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Except as otherwise described, 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 Issue.

Item 7.  Material to Be Filed as Exhibits.

N/A.

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.