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
ADCARE HEALTH SYSTEMS INC COM 00650W300 131 30,000 SH   SOLE   30,000 0 0
ADVANCED PHOTONIX INC-CL A COM 00754E107 697 1,741,463 SH   SOLE   1,741,463 0 0
ALON USA ENERGY INC COM 020520102 507 30,600 SH   SOLE   30,600 0 0
APPLIED OPTOELECTRONICS INC COM 03823U102 892 64,290 SH   SOLE   64,290 0 0
AUDIENCE INC COM 05070J102 3,612 795,694 SH   SOLE   795,694 0 0
AXCELIS TECHNOLOGIES INC COM 054540109 4,469 1,877,894 SH   SOLE   1,877,894 0 0
BALTIC TRADING LTD COM Y0553W103 87 58,600 SH   SOLE   58,600 0 0
BLACK DIAMOND INC COM 09202G101 4,938 522,510 SH   SOLE   522,510 0 0
BOINGO WIRELESS INC COM 09739C102 2,842 376,973 SH   SOLE   376,973 0 0
CARTESIAN INC COM 146534102 1,896 547,943 SH   SOLE   547,943 0 0
CUI GLOBAL INC COM 126576206 103 17,634 SH   SOLE   17,634 0 0
CUMULUS MEDIA INC-CL A COM 231082108 431 174,622 SH   SOLE   174,622 0 0
DB HARVEST CSI 300 CHINA A COM 233051879 246 5,900 SH Put SOLE   5,900 0 0
DEMAND MEDIA INC COM 24802N208 362 63,261 SH   SOLE   63,261 0 0
DIREXION SHS ETF TR DLY SC BEAR3XNEW 25459Y488 506 50,000 SH Call SOLE   50,000 0 0
DIREXION SHS ETF TR DLY SC BEAR3XNEW 25459Y488 202 20,000 SH Call SOLE   20,000 0 0
DIREXION SHS ETF TR DLY SC BEAR3XNEW 25459Y488 506 50,000 SH Call SOLE   50,000 0 0
DIREXION SHS ETF TR DLY SC BEAR3XNEW 25459Y488 506 50,000 SH Call SOLE   50,000 0 0
ECHOSTAR HOLDING CORP-A COM 278768106 2,283 44,150 SH   SOLE   44,150 0 0
EHEALTH INC COM 28238P109 954 101,725 SH   SOLE   101,725 0 0
ENTROPIC COMMUNICATIONS INC COM 29384R105 1,868 631,000 SH   SOLE   631,000 0 0
ESSEX RENTAL CORP COM 297187106 1,196 906,253 SH   SOLE   906,253 0 0
EXTREME NETWORKS INC COM 30226D106 3,491 1,104,708 SH   SOLE   1,104,708 0 0
FALCONSTOR SOFTWARE INC COM 306137100 1,016 655,739 SH   SOLE   655,739 0 0
FIRST NIAGARA FINANCIAL GRP COM 33582V108 133 15,000 SH   SOLE   15,000 0 0
FREIGHTCAR AMERICA INC COM 357023100 778 24,742 SH   SOLE   24,742 0 0
FX ENERGY INC COM 302695101 853 682,669 SH   SOLE   682,669 0 0
HUTCHINSON TECH COM 448407106 269 100,845 SH   SOLE   100,845 0 0
HYDRA INDUSTRIES ACQUISITION WRNT 448740118 837 87,500 SH   SOLE   87,500 0 0
HYDRA INDUSTRIES ACQUISITION RTS 448740126 172 18,040 SH   SOLE   18,040 0 0
IEC ELECTRONICS CORP COM 44949L105 505 133,030 SH   SOLE   133,030 0 0
INTERSECTIONS INC COM 460981301 2,089 612,710 SH   SOLE   612,710 0 0
KNOWLES CORP COM 49926D109 578 30,000 SH   SOLE   30,000 0 0
LIFEVANTAGE CORP COM 53222K106 478 605,609 SH   SOLE   605,609 0 0
LIMONEIRA CO COM 532746104 131 6,000 SH   SOLE   6,000 0 0
LIONBRIDGE TECHNOLOGIES INC COM 536252109 1,877 328,088 SH   SOLE   328,088 0 0
MARTHA STEWART LIVING -CL A COM 573083102 195 30,000 SH   SOLE   30,000 0 0
MATTERSIGHT CORP COM 577097108 1,251 201,736 SH   SOLE   201,736 0 0
MAXWELL TECHNOLOGIES INC COM 577767106 686 85,100 SH   SOLE   85,100 0 0
MERU NETWORKS INC COM 59047Q103 832 577,510 SH   SOLE   577,510 0 0
NET 1 UEPS TECHNOLOGIES INC COM 64107N206 1,812 132,464 SH   SOLE   132,464 0 0
NETFLIX INC COM 64110L106 1,250 3,000 SH Call SOLE   3,000 0 0
NETLIST INC COM 64118P109 130 224,600 SH   SOLE   224,600 0 0
NEWTEK BUSINESS SERVICES CORP COM 652526203 1,418 85,763 SH   SOLE   85,763 0 0
NUMEREX CORP -CL A COM 67053A102 7,816 685,572 SH   SOLE   685,572 0 0
NUMEREX CORP -CL A COM 67053A102 114 10,000 SH Call SOLE   10,000 0 0
NUMEREX CORP -CL A COM 67053A102 57 5,000 SH Call SOLE   5,000 0 0
O2MICRO INTERNATIONAL-ADR ADR 67107W100 1,696 647,451 SH   SOLE   647,451 0 0
OWENS CORNING INC COM 690742101 330 7,600 SH   SOLE   7,600 0 0
PHARMATHENE INC COM 71714G102 1,034 634,134 SH   SOLE   634,134 0 0
POINTS INTERNATIONAL LTD COM 730843208 600 59,266 SH   SOLE   59,266 0 0
QUANTUM CORP COM 747906204 2,476 1,547,523 SH   SOLE   1,547,523 0 0
RADISYS CORP COM 750459109 2,610 1,214,010 SH   SOLE   1,214,010 0 0
RAND LOGISTICS INC COM 752182105 1,025 315,318 SH   SOLE   315,318 0 0
RCI HOSPITALITY HOLDINGS INC COM 74934Q108 680 65,333 SH   SOLE   65,333 0 0
REALD INC COM 75604L105 1,984 155,144 SH   SOLE   155,144 0 0
REMY INTERNATIONAL INC COM 75971M108 203 9,136 SH   SOLE   9,136 0 0
RENREN INC-ADR ADR 759892102 189 78,373 SH   SOLE   78,373 0 0
REYNOLDS AMERICAN INC COM 761713106 345 5,000 SH Call SOLE   5,000 0 0
RIGHTSIDE GROUP LTD COM 76658B100 2,373 233,825 SH   SOLE   233,825 0 0
ROSETTA STONE INC COM 777780107 464 61,000 SH   SOLE   61,000 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 1,714 163,700 SH   SOLE   163,700 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 524 50,000 SH Call SOLE   50,000 0 0
SCIQUEST INC COM 80908T101 1,928 113,881 SH   SOLE   113,881 0 0
SFX ENTERTAINMENT INC COM 784178303 186 45,500 SH   SOLE   45,500 0 0
SHOE CARNIVAL INC COM 824889109 835 28,357 SH   SOLE   28,357 0 0
SIGA TECHNOLOGIES INC COM 826917106 721 371,526 SH   SOLE   371,526 0 0
SPORTSMANS WHSE HLDGS INC COM 84920Y106 571 71,523 SH   SOLE   71,523 0 0
TARGET CORP COM 87612E956 410 5,000 SH Put SOLE   5,000 0 0
TELECOMMUNICATION SYSTEMS-A COM 87929J103 2,391 624,215 SH   SOLE   624,215 0 0
TESLA MTRS INC PUT 88160R951 189 1,000 SH Put SOLE   1,000 0 0
THE FINISH LINE-CL A COM 317923100 972 39,650 SH   SOLE   39,650 0 0
TRANSGENOMIC INC COM NEW 89365K305 424 423,907 SH   SOLE   423,907 0 0
TRAVELCENTERS OF AMERICA LLC COM 894174101 1,583 90,744 SH   SOLE   90,744 0 0
UNISYS CORP COM 909214306 3,192 137,543 SH   SOLE   137,543 0 0
UNISYS CORP COM 909214306 580 25,000 SH Call SOLE   25,000 0 0
USA TECHNOLOGIES INC COM 90328S500 2,307 838,990 SH   SOLE   838,990 0 0
ZBB ENERGY CORP COM 98876R303 612 1,073,100 SH   SOLE   1,073,100 0 0