The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AV HOMES INC COM 00234P102 7,743 473,608 SH   DFND   0 473,608 0
AMREP CORP COM 032159105 3,925 640,335 SH   DFND   0 640,335 0
AMREP CORP COM 032159105 150 24,500 SH   SOLE   24,500 0 0
CHEGG INC COM 163092109 446 63,400 SH   DFND   0 63,400 0
CRA INTERNATIONAL INC COM 12618T105 5,343 231,819 SH   DFND   0 231,819 0
CARE.COM INC COM 141633107 30 2,403 SH   DFND   0 2,403 0
DIVERSICARE HEALTHCARE SERVI COM 255104101 2,086 275,183 SH   DFND   0 275,183 0
EGAIN CORP COM NEW 28225C806 406 60,000 SH   DFND   0 60,000 0
EGAIN CORP COM NEW 28225C806 3 500 SH   SOLE   500 0 0
EXA CORP COM 300614500 4,914 436,428 SH   DFND   0 436,428 0
FRANKLIN COVEY CO COM 353469109 7,352 365,225 SH   DFND   0 365,225 0
FRANKLIN COVEY CO COM 353469109 2,351 116,798 SH   SOLE   116,798 0 0
HOOPER HOLMES INC COM 439104100 1,031 1,378,855 SH   DFND   0 1,378,855 0
INTERSECTIONS INC COM 460981301 8,744 1,777,173 SH   DFND   0 1,777,173 0
INTERSECTIONS INC COM 460981301 94 19,191 SH   SOLE   19,191 0 0
SPARK NETWORKS INC COM 84651P100 17,295 3,050,210 SH   DFND   0 3,050,210 0
SPARK NETWORKS INC COM 84651P100 1,845 325,352 SH   SOLE   325,352 0 0
EPLUS INC COM 294268107 8,726 149,936 SH   DFND   0 149,936 0
EPLUS INC COM 294268107 41 700 SH   SOLE   700 0 0
INTERNET PATENTS CORP COM 46063G101 7 2,333 SH   SOLE   2,333 0 0
ROSETTA STONE INC COM 777780107 16,254 1,672,230 SH   DFND   0 1,672,230 0
ROSETTA STONE INC COM 777780107 2,525 259,783 SH   SOLE   259,783 0 0
TUCOWS INC COM NEW 898697206 10,418 851,139 SH   DFND   0 851,139 0
TRAVELZOO INC COM NEW 89421Q205 11,636 601,337 SH   DFND   0 601,337 0
TRAVELZOO INC COM NEW 89421Q205 379 19,592 SH   SOLE   19,592 0 0
TRAVELZOO INC CALL 89421Q205 232 12,000 SH Call SOLE   12,000 0 0
VITACOST.COM INC COM 92847A200 13,023 2,080,323 SH   DFND   0 2,080,323 0
VITACOST.COM INC COM 92847A200 1,698 271,251 SH   SOLE   271,251 0 0
ZIPREALTY INC COM 98974V107 8,904 2,938,676 SH   DFND   0 2,938,676 0
ZIPREALTY INC COM 98974V107 44 14,600 SH   SOLE   14,600 0 0