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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2012-71
April 12, 2012

Commission announcements

Securities and Exchange Commission Suspends Trading in the Securities of Five Issuers For Failure to Make Required Periodic Filings

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on April 12, 2012 and terminating at 11:59 p.m. EDT on April 25, 2012.

  • AP Henderson Group (APHG)
  • BPO Management Services, Inc. (HAXS)
  • Capital Mineral Investors, Inc. (CMIV)
  • CardioVascular BioTherapeutics, Inc. (CVBT)
  • 1st Centennial Bancorp (FCEN)

The Commission temporarily suspended trading in the securities of these five issuers due to a lack of current and accurate information about the companies because they have not filed periodic reports with the Commission in over two years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by these companies.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of these companies that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov. (Rel. 34-66788)

SEC Charges Ponzi Schemer Targeting Church Congregations

The Securities and Exchange Commission today charged a self-described “Social Capitalist” with running a Ponzi scheme that targeted socially-conscious investors in church congregations.

The SEC alleges that Ephren W. Taylor II made numerous false statements to lure investors into two investment programs being offered through City Capital Corporation, where he was the CEO. Instead of investor money going to charitable causes and economically disadvantaged businesses as promised, Taylor secretly diverted hundreds of thousands of dollars to publishing and promoting his books, hiring consultants to refine his public image, and funding his wife’s singing career.

The SEC also charged City Capital and its former chief operating officer Wendy Connor, who lives in North Carolina and along with Taylor received hundreds of thousands of dollars from investors in salary and commissions.

“Ephren Taylor professed to be in the business of socially-conscious investing. Instead, he was in the business of promoting Ephren Taylor,” said David Woodcock, Director of the SEC’s Fort Worth Regional Office. “He preyed upon investors’ faith and their desire to help others, convincing them that they could earn healthy returns while also helping their communities.”

According to the SEC’s complaint filed in federal court in Atlanta, Taylor strenuously cultivated an image of a highly successful and socially conscious entrepreneur. He marketed himself as “The Social Capitalist” and touted that he was the youngest black CEO of a public company and the son of a Christian minister who understands the importance of giving back. He authored three books and appeared on national television programs, and promoted his investment opportunities through live presentations, Internet advertisements, and radio ads. For instance, Taylor conducted a multi-city “Building Wealth Tour” during which he spoke to church congregations including Atlanta’s New Birth Church and at various wealth management seminars.

The SEC alleges that Taylor and City Capital offered two primary investments: promissory notes supposedly funding various small businesses, and interests in “sweepstakes” machines. In addition to promising high rates of return, Taylor assured investors that he had a long track record of success and that investor funds would be used to support businesses in economically disadvantaged areas. A portion of profits were to go to charity. Taylor devoted considerable time to denigrating traditional investment vehicles such as CDs, mutual funds, and the stock market, labeling them as “foolish” and “money losers.”  He told audiences they could make far greater returns using their self-directed IRAs for investments in small businesses and sweepstakes machines offered by City Capital.

In reality, according to the SEC’s complaint, more than $11 million that Taylor and City Capital raised from hundreds of investors nationwide from 2008 to 2010 was instead used to operate the Ponzi scheme. Investor money was misused to pay other investors, finance Taylor’s personal expenses, and fund City Capital’s payroll, rent, and other costs. City Capital’s business ventures were consistently unprofitable, and no meaningful amounts of investor money were ever sent to charities.

The SEC’s complaint seeks disgorgement, financial penalties and permanent injunctive relief against City Capital, Taylor, and Connor as well as officer and director bars against Taylor and Connor. (Press Rel. 2012-62; LR-22330)

Matthew Solomon Named Deputy Chief Litigation Counsel in SEC Enforcement Division

The Securities and Exchange Commission today announced that Matthew C. Solomon has been appointed Deputy Chief Litigation Counsel of the Division of Enforcement, where he will assist in the oversight of the Washington headquarters trial unit as well as trial attorneys in 11 regional offices.

Mr. Solomon has been a federal prosecutor for more than 10 years, most recently serving as an Assistant U.S. Attorney in the District of Columbia. Since 2010, Mr. Solomon has been the Chief of the Fraud Unit in the U.S. Attorney’s Office for the District of Columbia, supervising 25 prosecutors handling hundreds of white collar criminal matters including securities fraud offenses.

Before joining the U.S. Attorney’s Office, Mr. Solomon was a federal prosecutor in the Public Integrity Section of the Criminal Division at the U.S. Department of Justice. As a federal prosecutor, Mr. Solomon tried approximately two dozen cases involving such charges as extortion, money laundering, tax fraud, bribery, drug offenses, and obstruction of justice.

“Matt is an experienced trial attorney who has won praise from the bench, the defense bar, and the prosecutorial community for his exceptional trial skills and sound judgment,” said Robert Khuzami, Director of the SEC’s Division of Enforcement.  “Matt will be a welcomed addition to the SEC’s talented and dedicated trial unit.”

Matthew T. Martens, Chief Litigation Counsel in the SEC’s Enforcement Division, added, “The capacity to litigate complex matters through trial is essential to the mission of the Enforcement Division.  Matt’s substantial trial experience combined with his managerial experience in the U.S. Attorney’s Office make him an ideal candidate to help lead the SEC’s trial unit.”

Mr. Solomon said, “I am excited about the opportunity to help further the Enforcement Division’s goals of protecting investors and aggressively enforcing the securities laws.”

In addition to his work as a federal prosecutor, Mr. Solomon also served as a Counsel to the U.S. Senate Judiciary Committee. He began his legal career as a law clerk to Judge James Robertson of the U.S. District Court for the District of Columbia and then as a law clerk for Judge Dennis Jacobs of the U.S. Court of Appeals for the Second Circuit. Mr. Solomon received his J.D. magna cum laude from Georgetown University Law Center and his undergraduate degree magna cum laude from Wesleyan University.

Mr. Solomon, 39, is filling the Deputy Chief Litigation Counsel position previously held by Mark Adler, who left the agency to serve as Deputy Chief Trial Counsel at the Public Company Accounting Oversight Board. Mr. Solomon’s expected start date at the SEC is in June. (Press Rel. 2012-63)

Enforcement Proceedings

Commission Orders Hearings on Registration Suspension or Revocation Against Five Companies for Failure to Make Required Periodic Filings

In conjunction with today’s trading suspension, the Commission today also instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of five companies for failure to make required periodic filings with the Commission:

  • AP Henderson Group (APHG)
  • BPO Management Services, Inc. (HAXS)
  • Capital Mineral Investors, Inc. (CMIV)
  • CardioVascular BioTherapeutics, Inc. (CVBT)
  • 1st Centennial Bancorp (FCEN)

In this Order, the Division of Enforcement (Division) alleges that the five issuers are delinquent in their required periodic filings with the Commission.

In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the Respondents to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of these Respondents should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. (Rel. 34-66787; File No. 3-14843)

SEC Charges Goldman, Sachs & Co. Lacked Adequate Policies and Procedures for Research “Huddles”

On April 12, 2012, the Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, charging that Goldman, Sachs & Co. (Goldman) lacked adequate policies and procedures to address the risk that during weekly “huddles,” the firm’s analysts could share material, nonpublic information about upcoming research changes. Huddles were a practice where Goldman’s stock research analysts met to provide their best trading ideas to firm traders and later passed them on to a select group of top clients.

To settle the SEC’s charges, Goldman has agreed to pay a $22 million penalty and consent to a censure, a cease-and-desist order, and undertakings. Goldman also agreed to review and revise its written policies and procedures to correct the deficiencies identified by the SEC. The Financial Industry Regulatory Authority also announced today a settlement with Goldman for supervisory and other failures related to the huddles.

The Commission’s Order finds that from 2006 to 2011, Goldman held weekly huddle meetings in each of its research sectors, sometimes attended by sales personnel, in which analysts discussed their top short-term trading ideas and traders discussed their views on the markets. Beginning in 2007, Goldman began a program known as the Asymmetric Service Initiative (ASI), in which analysts shared information and trading ideas from the huddles with select clients. The huddles and ASI were extensive undertakings by Goldman and were created with the goals of improving the profitability of the firm’s traders and generating increased commission revenues from ASI clients. Research analysts were made aware of the importance of huddles and ASI to Goldman and to their own evaluations and potentially their compensation. The huddle program created a serious and substantial risk that analysts could share material, nonpublic information concerning upcoming changes to their published research with ASI clients and the firm’s traders. The risks were further increased by the fact that many of these clients and traders were frequent, high-volume traders. Despite those risks, Goldman failed to establish adequate policies or adequately enforce and maintain its existing policies, to prevent the misuse of material, nonpublic information concerning upcoming changes to its research. The Order also finds that Goldman conducted limited surveillance of trading ahead of research changes, but did not perform any surveillance specifically related to huddles. Furthermore, Goldman’s surveillance of trading ahead of research changes was not reasonably designed to ensure that analysts were not prematurely disclosing material research changes to firm traders and clients, either through the huddles, ASI or otherwise.

In 2003, Goldman paid a $5 million civil penalty and disgorgement and interest totaling more than $4.3 million to settle SEC charges that, among other violations, Goldman violated Section 15(f) of the Securities Exchange Act of 1934 (the Exchange Act) by failing to establish, maintain, and enforce written policies and procedures reasonably designed to prevent the misuse of material, nonpublic information obtained from outside consultants concerning U.S. Treasury 30-year bonds. In re Goldman Sachs & Co., Exchange Act Rel. No. 48436 (Sept. 4, 2003). Goldman settled the SEC’s 2003 proceeding without admitting or denying the findings.

The Order issued today finds that Goldman willfully violated Section 15(g) of the Exchange Act (previously Section 15(f)). The Commission censured the firm and ordered it to cease and desist from committing or causing any violations and any future violations of Section 15(g) of the Exchange Act. Goldman was ordered to pay a civil money penalty of $22 million, $11 million of which shall be deemed satisfied upon payment by Goldman of an $11 million civil penalty to the Financial Industry Regulatory Authority in a related proceeding.

In addition, Goldman agreed to complete a comprehensive review of the policies, procedures, and practices relating to the findings of the Order, and to adopt, implement and maintain practices and written policies and procedures consistent with the findings of the Order and the recommendations contained in the comprehensive review. In June 2011, Goldman entered into a consent order relating to huddles and ASI with the Massachusetts Securities Division (Docket No. 2009-079). In the SEC’s action, Goldman admits to the factual findings to the extent those findings are also contained in Section V of the Massachusetts Consent Order, but otherwise neither admits nor denies the SEC’s findings. (Rel. 34-66791; File No. 3-14845)

In the Matter of Mark Yagalla

On April 12, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Mark Yagalla. The Order finds that Mark Yagalla pled guilty to securities fraud and pursuant to the criminal judgment he was sentenced to 65 months imprisonment, three years of supervised release and ordered to make restitution of $32,089,463. Mark Yagalla also consented to entry of a final judgment in the Commission’s civil case permanently enjoining him from violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and from aiding and abetting the violation of Sections 206(1) and (2) of the Investment Advisers Act of 1940.

Based on the above, the Order bars Mark Yagalla from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent. Mark Yagalla consented to the issuance of the Order. (Rel. IA-3395; File No. 3-14842)

In the Matter of Jorge L. Castillo, CPA

The United States Securities and Exchange Commission (Commission) announced today that, on April 6, 2012, the Honorable Judge John A. Gibney, Jr., of the United States District Court of the Eastern District of Virginia, Richmond Division, entered a final judgment against Jorge L. Castillo (Castillo).

Among other things, the judgment permanently restrains and enjoins Castillo, a certified public accountant licensed to practice in Costa Rica and, for a time, in New Jersey, from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and Section 17(a) of the Securities Act of 1933. The judgment orders Castillo to pay disgorgement in the amount of $84,000, representing Castillo’s ill-gotten gain from his participation in the scheme alleged in the complaint, plus prejudgment interest thereon in the amount of $18,288; provided that Castillo’s payment obligation would be credited dollar-for-dollar by any criminal forfeiture or restitution amounts ordered by the court against Castillo in the criminal action titled United States v. Provident Capital Indemnity, Ltd., Minor Vargas Calvo and Jorge Luis Castillo, 3:11-CR-14 (E.D.V.A.). Castillo pled guilty in the related criminal case and is scheduled for sentencing in September of 2012.

The Commission also issued an Order today, pursuant to Commission Rule 102(e), suspending Castillo from appearing or practicing before the Commission as an accountant. Castillo consented to the entry of the judgment without admitting or denying any of the allegations in the civil injunctive action. Castillo also consented to the issuance of the Order without admitting or denying any of the findings except he admitted the entry of the injunction.

The Commission’s complaint in this case alleges, in part, that from at least 2003 through 2009, Castillo held himself out as the independent, outside auditor for Provident Capital Indemnity Ltd. (PCI), a purported insurance and reinsurance company based in Costa Rica, which provided financial guarantee bonds on life settlements. PCI’s bonds purported to protect investors’ interests in life settlements by promising to pay the death benefit of the underlying life insurance policies if the insured person on those policies lived beyond his or her estimated life expectancy. According to the complaint, in his purported role as PCI’s auditor, Castillo, along with PCI’s president, misrepresented PCI’s ability to satisfy its obligations under those bonds by making material misrepresentations about: (1) whether PCI’s financial statements had been audited, (2) the assets that backed PCI’s bonds; (3) PCI’s credit rating; and (4) the availability of reinsurance to cover claims on PCI’s bonds.

In particular, the complaint alleges that Castillo issued clean audit reports on PCI’s financial statements, when, in fact, he never conducted an audit of PCI’s financial statements, and he knew or was reckless in not knowing that certain assets listed on PCI’s financial statements did not exist. Castillo thereby supported the illusion that PCI had materially larger assets – including a fictitious “Long-Term Asset” that comprised some 70% to 80% of PCI’s total reported assets for the period in question – and thus a greater ability to meet its obligations on the financial guarantee bonds. PCI provided Castillo’s false audit reports to life settlement issuers, which, in turn, conveyed the information to investors. The Complaint also alleges that Castillo knew PCI was providing his false audit reports to a rating agency that, in partial reliance on those reports, gave PCI a high credit rating, and that, on occasion, Castillo assisted PCI’s president in formulating misleading responses to the rating agency’s questions about PCI’s financial statements. Additionally, according to the complaint, Castillo issued certificates to life settlement issuers that falsely stated PCI had made payments to purchase reinsurance from reputable reinsurers, thereby supporting the illusion that PCI’s obligations on financial guarantee bonds were backed by reinsurance. The complaint alleges that after learning of a regulatory inquiry into his conduct in 2010, Castillo asked the president of PCI to manufacture backup material to support Castillo’s purported audit procedures and told the PCI president that he had destroyed or was in the process of destroying all of his e-mails. Castillo also urged PCI’s president to destroy documents. (Rel. 34-66796; AAE Rel. 3380; File No. 3-14846)

Investment Company Act Releases

Capital Research And Management Company, et al.

An order has been issued on an application filed by American Funds Insurance Series, Capital Research and Management Company, and American Funds Distributors, Inc. under Section 6(c) of the Investment Company Act of 1940 (Act) for an exemption from Rule 12d1-2(a) under the Act. The order permits open-end management investment companies relying on Rule 12d1-2 under the Act to invest in certain financial instruments. (Rel. IC-30033 – April 10)

Self-Regulatory Organizations

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by The NASDAQ Stock Market LLC (SR-NASDAQ-2012-049) to amend Rule 4751 has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of April 16. (Rel. 34-66780)

A proposed rule change filed by Chicago Board Options Exchange, Incorporated (SR-CBOE-2012-036) to amend the Fees Schedule has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of April 16. (Rel. 34-66781)

A proposed rule change filed by Chicago Board Options Exchange, Incorporated to amend its Fees Schedule (SR-CBOE-2012-035) has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of April 16. (Rel. 34-66784)

Approval of Proposed Rule Change

The Commission has approved a proposed rule change filed pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934 by the Fixed Income Clearing Corporation (FICC) to make a technical correction to the rule relating to the calculation of funds-only settlement amounts for repo brokers (SR-FICC-2012-01). Publication is expected in the Federal Register during the week of April 16. (Rel. 34-66785)

Accelerated Approval of Proposed Rule Change

A proposed rule change filed by Chicago Mercantile Exchange Inc. (CME) regarding acceptance of additional Interest Rate Swaps and related interbank rates for clearing (SR-CME-2012-10) has been approved on an accelerated basis pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of April 16. (Rel. 34-66786)

Securities Act Registrations

The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue.

Registration statements may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.

        941-726-4383 - 3,000,000 ($34,500.00) Equity, (File 333-180653 - 
        Apr. 11) (BR. 04)

        6105252300 - 0 ($103,265,908.00) Unallocated (Universal) Shelf, 
        (File 333-180661 - Apr. 11) (BR. 07C)

S-4     CASTLE A M & CO, 1420 KENSINGTON ROAD, SUITE 220, OAK BROOK, IL, 60523, 
        8474557111 - 0 ($225,000,000.00) Debt, (File 333-180662 - Apr. 11) 
        (BR. 05C)

S-1     World Surveillance Group Inc., 1400 STATE ROAD 405, BLDG M6-306A, 
        KENNEDY SPACE CENTER, FL, 32815, 321.452.3545 - 
        50,000,000 ($2,000,000.00) Equity, (File 333-180663 - Apr. 11) (BR. 11A)

        92011, 760-710-3060 - 0 ($8,954,568.32) Equity, (File 333-180666 - 
        Apr. 11) (BR. 10B)

        NJ, 07701, 7327477800 - 5,000,000 ($10,000,000.00) Equity, 
        (File 333-180668 - Apr. 11) (BR. 06C)

        NAVY YARD CORPORATE CENTER, PHILADELPHIA, PA, 19112, 215-546-5005 - 
        200,000 ($1,237,000.00) Equity, (File 333-180669 - Apr. 11) (BR. 08C)

        IL, 60606, 3129178200 - 1,000 ($15,330.00) Equity, (File 333-180672 - 
        Apr. 11) (BR. 18)

        79701, 4326205500 - 12,309,424 ($197,935,537.92) Equity, 
        (File 333-180673 - Apr. 11) (BR. 04B)

Recent 8K Filings

Form 8-K is used by companies to file current reports on the following events:


Entry into a Material Definitive Agreement


Termination of a Material Definitive Agreement


Bankruptcy or Receivership


Completion of Acquisition or Disposition of Assets


Results of Operations and Financial Condition


Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant


Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement


Cost Associated with Exit or Disposal Activities


Material Impairments


Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing


Unregistered Sales of Equity Securities


Material Modifications to Rights of Security Holders


Changes in Registrant's Certifying Accountant


Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review


Changes in Control of Registrant


Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer


Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year


Temporary Suspension of Trading Under Registrant's Employee Benefit Plans


Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics


Change in Shell Company Status


ABS Informational and Computational Material.


Change of Servicer or Trustee.


Change in Credit Enhancement or Other External Support.


Failure to Make a Required Distribution.


Securities Act Updating Disclosure.


Regulation FD Disclosure


Other Events


Financial Statements and Exhibits

8-K reports may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.

NAME OF ISSUER                          CODE     8K ITEM NO.          DATE        COMMENT

A123 SYSTEMS, INC.                      DE       1.01                 04/05/12

ABRAXAS PETROLEUM CORP                  NV       7.01,9.01            04/11/12

ACACIA RESEARCH CORP                    DE       8.01                 04/03/12

ACME UNITED CORP                        CT       1.01,9.01            04/11/12

ADTRAN INC                              DE       2.02,9.01            04/10/12

ALCOA INC                               PA       2.02,9.01            04/10/12

ALEXANDER & BALDWIN INC                 HI       8.01,9.01            04/10/12

Allied World Assurance Co Holdings, A            5.02                 04/09/12

Ally Master Owner Trust                          1.01,8.01,9.01       04/10/12

Alpha Natural Resources, Inc.           DE       5.02,7.01,9.01       04/11/12

AMERICAN INTERNATIONAL VENTURES INC /   DE       2.02                 04/11/12

AMERIGON INC                            MI       8.01                 04/05/12

Antero Resources LLC                    DE       2.02,7.01,9.01       08/13/10

Antero Resources LLC                    DE       7.01,9.01            09/23/10

Antero Resources LLC                    DE       1.01,7.01,9.01       10/01/10

Antero Resources LLC                    DE       1.01,2.01,2.03,7.01, 11/04/10
Antero Resources LLC                    DE       2.02,9.01            11/15/10

Antero Resources LLC                    DE       1.01,7.01,9.01       12/01/10

Antero Resources LLC                    DE       2.02,9.01            02/23/11

Antero Resources LLC                    DE       7.01,9.01            02/28/11

Antero Resources LLC                    DE       2.02,7.01,9.01       03/30/11

Antero Resources LLC                    DE       2.02,9.01            05/16/11

Antero Resources LLC                    DE       2.02,9.01            05/31/11

Antero Resources LLC                    DE       7.01,9.01            06/15/11

Antero Resources LLC                    DE       1.01,9.01            07/08/11

Antero Resources LLC                    DE       2.02,9.01            07/21/11

Antero Resources LLC                    DE       8.01,9.01            07/27/11

Antero Resources LLC                    DE       7.01,9.01            07/27/11

Antero Resources LLC                    DE       8.01,9.01            07/27/11

Antero Resources LLC                    DE       1.01,2.03,9.01       07/27/11

Antero Resources LLC                    DE       2.02,9.01            08/15/11

Antero Resources LLC                    DE       7.01,9.01            09/26/11

Antero Resources LLC                    DE       1.01,2.03,7.01,9.01  10/26/11

Antero Resources LLC                    DE       2.02,9.01            11/15/11

Antero Resources LLC                    DE       7.01,9.01            12/06/11

Antero Resources LLC                    DE       9.01                 12/06/11    AMEND

ARBITRON INC                            DE       7.01,9.01            04/11/12

Armour Residential REIT, Inc.           MD       7.01,9.01            04/10/12

Arrayit Corp                            NV       5.02                 04/10/12

ARROWHEAD RESEARCH CORP                 DE       3.02,8.01            04/05/12

ARTS WAY MANUFACTURING CO INC           DE       2.02,9.01            04/11/12

ASPEN INSURANCE HOLDINGS LTD            D0       3.03,9.01            04/11/12

AUTHENTIDATE HOLDING CORP               DE       3.02,5.03,5.07,9.01  04/09/12

AVID TECHNOLOGY, INC.                   DE       2.02,9.01            04/11/12

AZZ INC                                 TX       2.02,8.01,9.01       04/10/12

BANK OF AMERICA CORP /DE/               DE       7.01,9.01            04/11/12

BANK OF SOUTH CAROLINA CORP             SC       5.02,9.01            04/11/12

BANK OF SOUTH CAROLINA CORP             SC       2.02,9.01            04/11/12

BANK OF SOUTH CAROLINA CORP             SC       5.07                 04/11/12

Banyan Rail Services Inc.               DE       5.03,9.01            04/05/12

BERRY PETROLEUM CO                      DE       1.01                 04/01/12

BEST BUY CO INC                         MN       5.02,7.01,9.01       04/09/12

BILL BARRETT CORP                       DE       7.01,9.01            04/10/12

BRANDYWINE REALTY TRUST                 MD       3.02,3.03,5.03,7.01, 04/11/12
BUCKEYE PARTNERS, L.P.                  DE       7.01,9.01            04/10/12

CAGLES INC                              GA       2.03                 04/05/12

Car Charging Group, Inc.                NV       5.02,9.01            03/19/12

CARMIKE CINEMAS INC                     DE       1.01,8.01,9.01       04/05/12

CASTLE A M & CO                         MD       8.01,9.01            04/10/12

CENTURY BANCORP INC                     MA       2.02,9.01            04/10/12

CENTURYLINK, INC                        LA       1.01,2.03,9.01       04/06/12

CHASE CORP                              MA       2.02,9.01            04/05/12

CHEESECAKE FACTORY INC                  DE       8.01,9.01            04/11/12

CHINA CLEAN ENERGY INC                  DE       5.02                 04/11/12

CHINA NORTH EAST PETROLEUM HOLDINGS L   NV       3.01,9.01            04/04/12

China YCT International Group, Inc.     FL       4.02                 04/04/12

CHINACAST EDUCATION CORP                DE       8.01                 04/09/12

CITY NATIONAL BANCSHARES CORP           NJ       5.07                 08/18/11

COCONNECT INC                           NV       4.01,5.02,9.01       04/05/12

COEUR D ALENE MINES CORP                ID       1.04                 02/13/12

COLE CORPORATE INCOME TRUST, INC.       MD       2.01,9.01            04/11/12

CombiMatrix Corp                        DE       7.01,8.01,9.01       04/11/12

COMPUTER SCIENCES CORP                  NV       2.02,9.01            04/10/12

COMVERGE, INC.                          DE       5.02                 04/07/12

COMVERGE, INC.                          DE       5.02                 03/08/12    AMEND

CONTANGO OIL & GAS CO                   DE       1.01,5.02,9.01       04/10/12

Copano Energy, L.L.C.                            8.01,9.01            04/11/12

CREDO PETROLEUM CORP                    DE       5.07                 04/05/12

CUMBERLAND PHARMACEUTICALS INC                   8.01                 04/05/12

CYTODYN INC                             CO       1.01,9.01            04/06/12

DATARAM CORP                            NJ       8.01,9.01            04/11/12

DEPOMED INC                             CA       8.01                 04/10/12

Digital Realty Trust, Inc.                       5.02,8.01            04/10/12

DigitalTown, Inc.                       MN       8.01                 04/04/12

DYNEGY INC.                             DE       3.01,7.01,9.01       04/05/12

Echo Therapeutics, Inc.                 DE       1.01,9.01            04/10/12

Enertopia Corp.                         NV       1.01,3.02,7.01,9.01  04/10/12

ENPRO INDUSTRIES, INC                   NC       8.01                 04/11/12

FBL FINANCIAL GROUP INC                 IA       8.01                 04/11/12

FS Energy & Power Fund                  DE       2.02,9.01            04/09/12

FS Investment CORP                      MD       2.02,9.01            04/10/12

FUEL DOCTOR HOLDINGS, INC.              DE       1.01,9.01            01/01/12    AMEND

FuLuCai Productions Ltd.                NV       1.01,9.01            04/04/12

GALECTIN THERAPEUTICS INC               NV       7.01,9.01            04/11/12

GE Capital Credit Card Master Note Tr   DE       1.01,9.01            04/11/12

Global Geophysical Services Inc         DE       5.02                 04/05/12

GOOD TIMES RESTAURANTS INC              NV       1.01,5.02            04/11/12

GREAT WALL BUILDERS LTD.                TX       1.01,2.01,3.02,5.01, 03/19/12

Greenwood Gold Resources, Inc.          NV       1.01,1.02,9.01       03/30/12

HANCOCK HOLDING CO                      MS       5.07                 04/05/12

HARBINGER GROUP INC.                    DE       7.01,9.01            04/11/12

HEALTHCARE SERVICES GROUP INC           PA       2.02,9.01            04/10/12

Heartland Bridge Capital, Inc.          DE       8.01,9.01            04/11/12

Heritage Financial Group Inc            MD       1.01,8.01,9.01       04/06/12

Home Federal Bancorp, Inc. of Louisia   LA       7.01,9.01            04/11/12

HOVNANIAN ENTERPRISES INC               DE       1.01,8.01,9.01       04/11/12

HPEV, INC.                              NV       5.02,5.03,5.07,9.01  04/05/12

ICU MEDICAL INC/DE                      DE       8.01,9.01            04/10/12

IHS Inc.                                DE       7.01,9.01            04/11/12

INSULET CORP                            DE       1.01,9.01            04/09/12

Intellicell Biosciences, Inc.           NV       1.01,9.01            04/07/12

ITRONICS INC                            TX       8.01                 04/11/12

J C PENNEY CO INC                       DE       5.02,9.01            04/11/12

KINDER MORGAN ENERGY PARTNERS L P       DE       7.01                 04/10/12

KINDER MORGAN MANAGEMENT LLC            DE       7.01                 04/10/12

KINDER MORGAN, INC.                     DE       7.01                 04/10/12

LAKELAND FINANCIAL CORP                 IN       7.01                 04/10/12

LAKELAND FINANCIAL CORP                 IN       5.07                 04/10/12

Lantheus Medical Imaging, Inc.          DE       2.02,9.01            04/05/12

LAS VEGAS RAILWAY EXPRESS, INC.         DE       5.02                 04/10/12

LAYNE CHRISTENSEN CO                    DE       7.01,9.01            04/10/12

Life Nutrition Products, Inc            DC       4.01,9.01            01/10/12    AMEND

Life Technologies Corp                  DE       7.01,9.01            04/11/12

LIFEWAY FOODS INC                       IL       5.02                 04/09/12

LINCOLN EDUCATIONAL SERVICES CORP       NJ       1.01,1.02,2.03,9.01  04/05/12

Lincolnway Energy, LLC                  IA       1.02,9.01            04/10/12

LITHIA MOTORS INC                       OR       7.01,9.01            04/11/12

LVB Acquisition, Inc.                            2.02,9.01            04/11/12

MACK CALI REALTY CORP                   MD       1.01,7.01,9.01       04/10/12

Mantra Venture Group Ltd.                        1.01,5.02,9.01       04/03/12

MARSHALL EDWARDS INC                    DE       8.01                 04/10/12

MAXIM INTEGRATED PRODUCTS INC           DE       5.02                 04/10/12

MCG CAPITAL CORP                        DE       5.03,9.01            04/11/12

MEADWESTVACO Corp                       DE       2.02,9.01            04/11/12

MEDICINOVA INC                          DE       5.02,9.01            04/10/12

MetaStat, Inc.                          NV       4.01,5.02,9.01       02/26/12

MetaStat, Inc.                          NV       5.03,9.01            04/09/12

MFA FINANCIAL, INC.                     MD       1.01,8.01,9.01       04/11/12

Midway Gold Corp                        A1       7.01,9.01            04/10/12

Midway Gold Corp                        A1       7.01,9.01            04/11/12

MITEK SYSTEMS INC                       DE       8.01,9.01            04/11/12

MMRGlobal, Inc.                         DE       8.01                 04/09/12

MOVE INC                                DE       8.01                 04/06/12

NATIONAL TECHNICAL SYSTEMS INC /CA/     CA       5.02,9.01            04/05/12

NAVIDEA BIOPHARMACEUTICALS, INC.        DE       1.01,5.02,8.01,9.01  12/09/11    AMEND

NETWORK EQUIPMENT TECHNOLOGIES INC      DE       8.01                 04/10/12

NEWS CORP                                        8.01,9.01            04/11/12

NORTHERN TECHNOLOGIES INTERNATIONAL C   DE       2.02,9.01            04/11/12

Oconee Federal Financial Corp.                   5.02,5.07,9.01       04/05/12

OLD DOMINION ELECTRIC COOPERATIVE       VA       5.02                 04/10/12

ONE LIBERTY PROPERTIES INC              MD       7.01,9.01            04/11/12

OSI SYSTEMS INC                         DE       1.01,9.01            04/10/12

OUTDOOR CHANNEL HOLDINGS INC                     1.01,5.02            04/10/12

Panache Beverage, Inc.                           2.01,3.02,5.01,5.02, 09/30/11    AMEND
Panex Resources Inc.                    NV       1.01,5.02,7.01,9.01  03/03/12

PARKER DRILLING CO /DE/                 DE       1.01,8.01,9.01       04/09/12

Pershing Gold Corp.                     NV       3.02,5.03,9.01       04/05/12

Pioneer Exploration Inc.                NV       1.01,2.01,4.02,5.01, 11/01/11    AMEND

PRIVATE MEDIA GROUP INC                 NV       1.03,8.01            04/06/12

PROGRESSIVE CORP/OH/                    OH       2.02,9.01            04/11/12

PROSPECT CAPITAL CORP                   MD       8.01,9.01            04/10/12

PROTEONOMIX, INC.                       DE       1.02,8.01            04/11/12

PRUDENTIAL FINANCIAL INC                NJ       8.01,9.01            04/11/12

QUANTUM FUEL SYSTEMS TECHNOLOGIES WOR   DE       5.07                 10/27/11    AMEND

QUEST DIAGNOSTICS INC                   DE       5.02,7.01,8.01,9.01  04/09/12

RADIAN GROUP INC                        DE       2.02,9.01            04/10/12

REALNETWORKS INC                        WA       9.01                 01/26/12    AMEND

Regency Resources, Inc.                 NV       1.01,5.02,9.01       04/10/12

Renewable Fuel Corp                     NV       3.02                 03/31/12

REPLIGEN CORP                           DE       5.02                 04/09/12

RESOURCE HOLDINGS, INC.                 NV       1.01,2.03,9.01       04/05/12

RF MICRO DEVICES INC                    NC       5.02,9.01            04/05/12

Rhino Resource Partners LP              DE       5.02                 04/05/12

RVUE HOLDINGS, INC.                     NV       8.01                 04/09/12

SCHLUMBERGER LTD /NV/                   P8       5.07,9.01            04/11/12

SCIENTIFIC ENERGY INC                   UT       8.01                 04/11/12

Sibling Entertainment Group Holdings,   TX       5.02                 04/09/12

SITEL Worldwide Corp                    DE       1.01                 04/11/12

SKY DIGITAL STORES CORP.                NV       4.01,9.01            04/05/12

SKY PETROLEUM, INC.                     NV       5.02,9.01            04/11/12

SOUTHWEST AIRLINES CO                   TX       7.01,9.01            03/31/12

STANADYNE CORP                          DE       5.02                 04/07/12

STEWART ENTERPRISES INC                 LA       2.05,9.01            04/11/12

STURM RUGER & CO INC                    DE       8.01,9.01            04/11/12

Sucampo Pharmaceuticals, Inc.                    7.01,9.01            04/11/12

SUNPEAKS VENTURES, INC.                          1.01,9.01            04/05/12

SUPERCONDUCTOR TECHNOLOGIES INC         DE       3.01                 04/05/12

SYNERGY RESOURCES CORP                  CO       8.01,9.01            04/11/12

TALON INTERNATIONAL, INC.               DE       5.02                 04/09/12

TearLab Corp                            DE       1.01,8.01,9.01       04/11/12

Titan Iron Ore Corp.                    NV       1.01,2.01,2.03,5.02, 04/06/12
Titan Machinery Inc.                    DE       2.02,5.02,9.01       04/05/12

TRANSAX INTERNATIONAL LTD               CO       4.01,9.01            01/06/12

TRINITY CAPITAL CORP                    NM       7.01                 04/05/12

U S PHYSICAL THERAPY INC /NV            NV       7.01,9.01            04/11/12

UGI CORP /PA/                           PA       8.01,9.01            04/09/12

UMH PROPERTIES, INC.                    MD       7.01,9.01            04/10/12

URANIUM RESOURCES INC /DE/              DE       8.01                 04/05/12

Vantage Drilling CO                     E9       1.01,2.03,8.01,9.01  04/10/12

Verso Paper Corp.                       DE       8.01,9.01            04/11/12

VIEW SYSTEMS INC                        NV       4.01,9.01            03/18/12

VIST FINANCIAL CORP                     PA       5.02                 04/10/12

VMWARE, INC.                            DE       2.02,5.02,9.01       04/09/12

X RITE INC                              MI       1.01,7.01,9.01       04/10/12

XENOPORT INC                            DE       8.01                 04/11/12

Yankee Holding Corp.                    DE       1.01,2.03,9.01       04/02/12

YCC Holdings LLC                        DE       1.01,2.03,9.01       04/02/12



Modified: 04/12/2012