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        <nameOfIssuer>1-800-FLOWERS.COM INC-CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>68243Q106</cusip>
        <value>1819440</value>
        <shrsOrPrnAmt>
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        <votingAuthority>
            <Sole>168000</Sole>
            <Shared>0</Shared>
            <None>0</None>
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    <infoTable>
        <nameOfIssuer>A10 NETWORKS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>002121101</cusip>
        <value>663965</value>
        <shrsOrPrnAmt>
            <sshPrnamt>48500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>48500</Sole>
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            <None>0</None>
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        <nameOfIssuer>ACCURAY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>004397105</cusip>
        <value>143260</value>
        <shrsOrPrnAmt>
            <sshPrnamt>58000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>58000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>ACME UNITED CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>004816104</cusip>
        <value>1315720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>28000</sshPrnamt>
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        <votingAuthority>
            <Sole>28000</Sole>
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            <None>0</None>
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        <nameOfIssuer>ADTHEORENT HOLDINGS CO INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>00739D109</cusip>
        <value>433350</value>
        <shrsOrPrnAmt>
            <sshPrnamt>135000</sshPrnamt>
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        <votingAuthority>
            <Sole>135000</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AGILYSYS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>00847J105</cusip>
        <value>337040</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>ALLIENT INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>019330109</cusip>
        <value>4163856</value>
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            <sshPrnamt>116700</sshPrnamt>
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        <votingAuthority>
            <Sole>116700</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AMERICAN OUTDOOR BRANDS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>02875D109</cusip>
        <value>1575200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>179000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>179000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AMERICAN SOFTWARE INC-CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>029683109</cusip>
        <value>1419800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>124000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>124000</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AMPCO-PITTSBURGH CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>032037103</cusip>
        <value>303800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>140000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>140000</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AMPCO-PITTSBURGH CORP WARRANTS 8/1/25</nameOfIssuer>
        <titleOfClass>WARRANT</titleOfClass>
        <cusip>032037111</cusip>
        <value>4700</value>
        <shrsOrPrnAmt>
            <sshPrnamt>47000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>47000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ANTERIX INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>03676C100</cusip>
        <value>1781330</value>
        <shrsOrPrnAmt>
            <sshPrnamt>53000</sshPrnamt>
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        <votingAuthority>
            <Sole>53000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>ARLO TECHNOLOGIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>04206A101</cusip>
        <value>1353550</value>
        <shrsOrPrnAmt>
            <sshPrnamt>107000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>107000</Sole>
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            <None>0</None>
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        <nameOfIssuer>ARRAY TECHNOLOGIES INC 1.000 12/01/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>04271TAB6</cusip>
        <value>490396</value>
        <shrsOrPrnAmt>
            <sshPrnamt>528000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>528000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ARTESIAN RESOURCES CORP-CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>043113208</cusip>
        <value>1180840</value>
        <shrsOrPrnAmt>
            <sshPrnamt>31820</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>31820</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ASTEC INDUSTRIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>046224101</cusip>
        <value>6294240</value>
        <shrsOrPrnAmt>
            <sshPrnamt>144000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>144000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ASTRONICS CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>046433108</cusip>
        <value>3769920</value>
        <shrsOrPrnAmt>
            <sshPrnamt>198000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>198000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ATLANTIC AMERICAN CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>048209100</cusip>
        <value>56000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>20000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ATLANTIC UNION BANKSHARES CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>04911A107</cusip>
        <value>971025</value>
        <shrsOrPrnAmt>
            <sshPrnamt>27500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>27500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>AZZ INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>002474104</cusip>
        <value>773100</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BADGER METER INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>056525108</cusip>
        <value>841412</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5200</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5200</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BANDWIDTH INC 0.250 03/01/26 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>05988JAB9</cusip>
        <value>617890</value>
        <shrsOrPrnAmt>
            <sshPrnamt>700000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>700000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>BANK7 CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>06652N107</cusip>
        <value>318660</value>
        <shrsOrPrnAmt>
            <sshPrnamt>11300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>11300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>BASSETT FURNITURE INDS</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>070203104</cusip>
        <value>408852</value>
        <shrsOrPrnAmt>
            <sshPrnamt>27700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>27700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>BEASLEY BROADCAST GRP INC -A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>074014101</cusip>
        <value>138840</value>
        <shrsOrPrnAmt>
            <sshPrnamt>178000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>178000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>BELLRING BRANDS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>07831C103</cusip>
        <value>885450</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
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        <nameOfIssuer>BERKSHIRE HILLS BANCORP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>084680107</cusip>
        <value>221407</value>
        <shrsOrPrnAmt>
            <sshPrnamt>9660</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>9660</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>BIG 5 SPORTING GOODS CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>08915P101</cusip>
        <value>56320</value>
        <shrsOrPrnAmt>
            <sshPrnamt>16000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>16000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BOYD GAMING CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>103304101</cusip>
        <value>269280</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CADENCE BANK</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>12740C103</cusip>
        <value>208800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>7200</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>7200</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
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        <nameOfIssuer>CAESARS ENTERTAINMENT INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>12769G100</cusip>
        <value>831060</value>
        <shrsOrPrnAmt>
            <sshPrnamt>19000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>19000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CALAVO GROWERS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>128246105</cusip>
        <value>1070685</value>
        <shrsOrPrnAmt>
            <sshPrnamt>38500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>38500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CALIFORNIA WATER SERVICE GRP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>130788102</cusip>
        <value>1013264</value>
        <shrsOrPrnAmt>
            <sshPrnamt>21800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>21800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
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        <nameOfIssuer>CAPITAL CITY BANK GROUP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>139674105</cusip>
        <value>2210460</value>
        <shrsOrPrnAmt>
            <sshPrnamt>79800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>79800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>CASELLA WASTE SYSTEMS INC-A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>147448104</cusip>
        <value>2007061</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>20300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>CAVCO INDUSTRIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>149568107</cusip>
        <value>239436</value>
        <shrsOrPrnAmt>
            <sshPrnamt>600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>600</Sole>
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            <None>0</None>
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        <nameOfIssuer>CHART INDUSTRIES INC 6.750 12/15/25 SR:B CVT</nameOfIssuer>
        <titleOfClass>PREFERRED CONVER</titleOfClass>
        <cusip>16115Q407</cusip>
        <value>449470</value>
        <shrsOrPrnAmt>
            <sshPrnamt>7000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>7000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CHEFS' WAREHOUSE THE 2.375 12/15/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>163086AE1</cusip>
        <value>219350</value>
        <shrsOrPrnAmt>
            <sshPrnamt>200000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>200000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>CITIZENS &amp; NORTHERN CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>172922106</cusip>
        <value>262920</value>
        <shrsOrPrnAmt>
            <sshPrnamt>14000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>14000</Sole>
            <Shared>0</Shared>
            <None>0</None>
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        <nameOfIssuer>CLEARFIELD INC</nameOfIssuer>
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        <value>555120</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>18000</Sole>
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            <None>0</None>
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        <nameOfIssuer>COLUMBUS MCKINNON CORP/NY</nameOfIssuer>
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        <cusip>199333105</cusip>
        <value>2160092</value>
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        <votingAuthority>
            <Sole>48400</Sole>
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            <None>0</None>
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        <nameOfIssuer>COMMERCIAL VEHICLE GROUP INC</nameOfIssuer>
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        <cusip>202608105</cusip>
        <value>1377486</value>
        <shrsOrPrnAmt>
            <sshPrnamt>214228</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>214228</Sole>
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            <None>0</None>
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        <nameOfIssuer>COMTECH TELECOMMUNICATIONS</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>205826209</cusip>
        <value>202370</value>
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            <sshPrnamt>59000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>59000</Sole>
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        <nameOfIssuer>CONSOLIDATED WATER CO-ORD SH</nameOfIssuer>
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        <cusip>G23773107</cusip>
        <value>1304295</value>
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            <sshPrnamt>44500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>44500</Sole>
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            <None>0</None>
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        <nameOfIssuer>CORE MOLDING TECHNOLOGIES IN</nameOfIssuer>
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        <cusip>218683100</cusip>
        <value>2432505</value>
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            <sshPrnamt>128500</sshPrnamt>
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        <votingAuthority>
            <Sole>128500</Sole>
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        <nameOfIssuer>CTS CORP</nameOfIssuer>
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        <cusip>126501105</cusip>
        <value>5109468</value>
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            <sshPrnamt>109200</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>109200</Sole>
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        <nameOfIssuer>CUTERA INC</nameOfIssuer>
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        <cusip>232109108</cusip>
        <value>179575</value>
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            <sshPrnamt>122160</sshPrnamt>
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            <Sole>122160</Sole>
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        <nameOfIssuer>DAKTRONICS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>234264109</cusip>
        <value>592620</value>
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            <sshPrnamt>59500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>59500</Sole>
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            <None>0</None>
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        <nameOfIssuer>DANA INC</nameOfIssuer>
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        <cusip>235825205</cusip>
        <value>539750</value>
        <shrsOrPrnAmt>
            <sshPrnamt>42500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>42500</Sole>
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            <None>0</None>
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        <nameOfIssuer>DAWSON GEOPHYSICAL CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>239360100</cusip>
        <value>34080</value>
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            <sshPrnamt>24000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>24000</Sole>
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            <None>0</None>
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        <nameOfIssuer>DENNY'S CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>24869P104</cusip>
        <value>492800</value>
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            <sshPrnamt>55000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>55000</Sole>
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            <None>0</None>
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        <nameOfIssuer>DHI GROUP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>23331S100</cusip>
        <value>114750</value>
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            <sshPrnamt>45000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>45000</Sole>
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            <None>0</None>
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        <nameOfIssuer>DIGI INTERNATIONAL INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>253798102</cusip>
        <value>319300</value>
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            <sshPrnamt>10000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10000</Sole>
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            <None>0</None>
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        <nameOfIssuer>DISTRIBUTION SOLUTIONS GROUP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>520776105</cusip>
        <value>6904408</value>
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            <sshPrnamt>194600</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>194600</Sole>
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        <nameOfIssuer>DUCOMMUN INC</nameOfIssuer>
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        <cusip>264147109</cusip>
        <value>8328042</value>
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            <sshPrnamt>162340</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>162340</Sole>
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            <None>0</None>
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        <nameOfIssuer>EASTERN CO/THE</nameOfIssuer>
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        <cusip>276317104</cusip>
        <value>9269071</value>
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            <sshPrnamt>271900</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>271900</Sole>
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            <None>0</None>
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        <nameOfIssuer>ELECTROMED INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>285409108</cusip>
        <value>567543</value>
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            <sshPrnamt>35142</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>35142</Sole>
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            <None>0</None>
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        <nameOfIssuer>ENERGY RECOVERY INC</nameOfIssuer>
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        <cusip>29270J100</cusip>
        <value>461068</value>
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            <sshPrnamt>29200</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <None>0</None>
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        <nameOfIssuer>EW SCRIPPS CO NEW</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>811054402</cusip>
        <value>1346418</value>
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            <sshPrnamt>342600</sshPrnamt>
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        <votingAuthority>
            <Sole>342600</Sole>
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        <nameOfIssuer>EXELIXIS INC</nameOfIssuer>
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        <cusip>30161Q104</cusip>
        <value>1404816</value>
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            <sshPrnamt>59200</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>59200</Sole>
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        <nameOfIssuer>FARMER BROS CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>307675108</cusip>
        <value>1698638</value>
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            <sshPrnamt>475809</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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        <nameOfIssuer>FARMERS NATL BANC CORP</nameOfIssuer>
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        <cusip>309627107</cusip>
        <value>534400</value>
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        <nameOfIssuer>FEDERAL SIGNAL CORP</nameOfIssuer>
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        <cusip>313855108</cusip>
        <value>1952010</value>
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            <sshPrnamt>23000</sshPrnamt>
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        <nameOfIssuer>FIRST INTERNET BANCORP</nameOfIssuer>
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        <cusip>320557101</cusip>
        <value>694800</value>
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        <nameOfIssuer>FLUSHING FINANCIAL CORP</nameOfIssuer>
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        <cusip>343873105</cusip>
        <value>4751448</value>
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            <sshPrnamt>376800</sshPrnamt>
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            <Sole>376800</Sole>
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        <nameOfIssuer>FNB CORP</nameOfIssuer>
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        <cusip>302520101</cusip>
        <value>1043400</value>
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            <sshPrnamt>74000</sshPrnamt>
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            <Sole>74000</Sole>
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        <nameOfIssuer>FOSTER (LB) CO-A</nameOfIssuer>
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        <cusip>350060109</cusip>
        <value>4575435</value>
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            <Sole>167537</Sole>
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        <nameOfIssuer>FREQUENCY ELECTRONICS INC</nameOfIssuer>
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        <cusip>358010106</cusip>
        <value>108900</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>10000</Sole>
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        <nameOfIssuer>FRP HOLDINGS INC</nameOfIssuer>
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        <nameOfIssuer>FS BANCORP INC</nameOfIssuer>
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        <nameOfIssuer>FUBOTV INC 3.250 02/15/26 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>35953DAB0</cusip>
        <value>228096</value>
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            <Sole>360000</Sole>
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        <nameOfIssuer>GAMBLING.COM GROUP LTD</nameOfIssuer>
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        <cusip>G3R239101</cusip>
        <value>913000</value>
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            <Sole>100000</Sole>
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        <nameOfIssuer>GARRETT MOTION INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>366505105</cusip>
        <value>497000</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>50000</Sole>
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        <nameOfIssuer>GENCOR INDUSTRIES INC</nameOfIssuer>
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        <cusip>368678108</cusip>
        <value>7552225</value>
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            <Sole>452500</Sole>
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        <nameOfIssuer>GENIUS SPORTS LTD</nameOfIssuer>
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        <cusip>G3934V109</cusip>
        <value>114200</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>20000</Sole>
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            <None>0</None>
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        <nameOfIssuer>GENTHERM INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>37253A103</cusip>
        <value>230320</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
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        <nameOfIssuer>GIBRALTAR INDUSTRIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>374689107</cusip>
        <value>5717630</value>
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            <sshPrnamt>71000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>71000</Sole>
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            <None>0</None>
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        <nameOfIssuer>GLATFELTER CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>377320106</cusip>
        <value>50000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>25000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>25000</Sole>
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            <None>0</None>
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        <nameOfIssuer>GOLDEN ENTERTAINMENT INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>381013101</cusip>
        <value>4205986</value>
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            <sshPrnamt>114200</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>114200</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GORMAN-RUPP CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>383082104</cusip>
        <value>2942520</value>
        <shrsOrPrnAmt>
            <sshPrnamt>74400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>74400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GRAHAM CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>384556106</cusip>
        <value>3546400</value>
        <shrsOrPrnAmt>
            <sshPrnamt>130000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>130000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GRANITE CONSTRUCTION INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>387328107</cusip>
        <value>285650</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GRAY TELEVISION INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>389375106</cusip>
        <value>1568877</value>
        <shrsOrPrnAmt>
            <sshPrnamt>248240</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>248240</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GRAY TELEVISION INC-A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>389375205</cusip>
        <value>749070</value>
        <shrsOrPrnAmt>
            <sshPrnamt>87000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>87000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GYRODYNE LLC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>403829104</cusip>
        <value>185223</value>
        <shrsOrPrnAmt>
            <sshPrnamt>22316</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>22316</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HALOZYME THERAPEUTICS IN 1.000 08/15/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>40637HAF6</cusip>
        <value>487780</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HANOVER BANCORP INC/NY</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>410710206</cusip>
        <value>222300</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HAWKINS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>420261109</cusip>
        <value>3686400</value>
        <shrsOrPrnAmt>
            <sshPrnamt>48000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>48000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HERC HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>42704L104</cusip>
        <value>420750</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>2500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HOMESTREET INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>43785V102</cusip>
        <value>189630</value>
        <shrsOrPrnAmt>
            <sshPrnamt>12600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>12600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>I3 VERTICALS INC-CLASS A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>46571Y107</cusip>
        <value>1757746</value>
        <shrsOrPrnAmt>
            <sshPrnamt>76791</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>76791</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ICC HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>44931Q104</cusip>
        <value>271937</value>
        <shrsOrPrnAmt>
            <sshPrnamt>17000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>17000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ICF INTERNATIONAL INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>44925C103</cusip>
        <value>602520</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>IMAX CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45245E109</cusip>
        <value>485100</value>
        <shrsOrPrnAmt>
            <sshPrnamt>30000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>30000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>IMPINJ INC 1.125 05/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>453204AD1</cusip>
        <value>405357</value>
        <shrsOrPrnAmt>
            <sshPrnamt>300000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>300000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INFINERA CORP 3.750 08/01/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>45667GAG8</cusip>
        <value>553900</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INFUSYSTEM HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45685K102</cusip>
        <value>1671150</value>
        <shrsOrPrnAmt>
            <sshPrnamt>195000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>195000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INGLES MARKETS INC-CLASS A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>457030104</cusip>
        <value>306720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INNOVATE CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45784J105</cusip>
        <value>207221</value>
        <shrsOrPrnAmt>
            <sshPrnamt>295734</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>295734</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INNOVATIVE SOLUTIONS &amp; SUPP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45769N105</cusip>
        <value>711504</value>
        <shrsOrPrnAmt>
            <sshPrnamt>97200</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>97200</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INSPIRED ENTERTAINMENT INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45782N108</cusip>
        <value>2437599</value>
        <shrsOrPrnAmt>
            <sshPrnamt>247221</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>247221</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INTEGER HOLDINGS CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>45826H109</cusip>
        <value>233360</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>2000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INTERDIGITAL INC 3.500 06/01/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>45867GAD3</cusip>
        <value>432297</value>
        <shrsOrPrnAmt>
            <sshPrnamt>300000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>300000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INTEVAC INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>461148108</cusip>
        <value>1171200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>305000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>305000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>JOHN BEAN TECHNOLOGIES CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>477839104</cusip>
        <value>839120</value>
        <shrsOrPrnAmt>
            <sshPrnamt>8000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>8000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>JOHNSON OUTDOORS INC-A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>479167108</cusip>
        <value>230550</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>KIMBALL ELECTRONICS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>49428J109</cusip>
        <value>703625</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>32500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>KKR &amp; CO INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>48251W104</cusip>
        <value>4274650</value>
        <shrsOrPrnAmt>
            <sshPrnamt>42500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>42500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LANDS' END INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>51509F105</cusip>
        <value>261360</value>
        <shrsOrPrnAmt>
            <sshPrnamt>24000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>24000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LA-Z-BOY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>505336107</cusip>
        <value>225720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>6000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>6000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LEE ENTERPRISES</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>523768406</cusip>
        <value>346580</value>
        <shrsOrPrnAmt>
            <sshPrnamt>26000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>26000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LEGACY HOUSING CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>52472M101</cusip>
        <value>1570960</value>
        <shrsOrPrnAmt>
            <sshPrnamt>73000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>73000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LEMAITRE VASCULAR INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>525558201</cusip>
        <value>364980</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LIBERTY MEDIA CORP 2.250 08/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>531229AQ5</cusip>
        <value>506900</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LIFETIME BRANDS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>53222Q103</cusip>
        <value>2368480</value>
        <shrsOrPrnAmt>
            <sshPrnamt>226000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>226000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LIFEWAY FOODS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>531914109</cusip>
        <value>198030</value>
        <shrsOrPrnAmt>
            <sshPrnamt>11500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>11500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LIMONEIRA CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>532746104</cusip>
        <value>3006372</value>
        <shrsOrPrnAmt>
            <sshPrnamt>153700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>153700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LIVE NATION ENTERTAINMEN 3.125 01/15/29 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>538034BA6</cusip>
        <value>600130</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MANITOWOC COMPANY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>563571405</cusip>
        <value>247450</value>
        <shrsOrPrnAmt>
            <sshPrnamt>17500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>17500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MARCUS CORPORATION</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>566330106</cusip>
        <value>998200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>70000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>70000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MARINE PRODUCTS CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>568427108</cusip>
        <value>3407500</value>
        <shrsOrPrnAmt>
            <sshPrnamt>290000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>290000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MARINEMAX INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>567908108</cusip>
        <value>465640</value>
        <shrsOrPrnAmt>
            <sshPrnamt>14000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>14000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MATERIALISE NV-ADR</nameOfIssuer>
        <titleOfClass>DEPOSITORY RECEI</titleOfClass>
        <cusip>57667T100</cusip>
        <value>52800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MEDALLION FINANCIAL CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>583928106</cusip>
        <value>735630</value>
        <shrsOrPrnAmt>
            <sshPrnamt>93000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>93000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MESA LABORATORIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>59064R109</cusip>
        <value>329190</value>
        <shrsOrPrnAmt>
            <sshPrnamt>3000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>3000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MIDDLEBY CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>596278101</cusip>
        <value>2238197</value>
        <shrsOrPrnAmt>
            <sshPrnamt>13920</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>13920</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MIDDLESEX WATER CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>596680108</cusip>
        <value>262500</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MINERALS TECHNOLOGIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>603158106</cusip>
        <value>376400</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MITEK SYSTEMS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>606710200</cusip>
        <value>1931700</value>
        <shrsOrPrnAmt>
            <sshPrnamt>137000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>137000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MODINE MANUFACTURING CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>607828100</cusip>
        <value>904305</value>
        <shrsOrPrnAmt>
            <sshPrnamt>9500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>9500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MOTORCAR PARTS OF AMERICA IN</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>620071100</cusip>
        <value>88440</value>
        <shrsOrPrnAmt>
            <sshPrnamt>11000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>11000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MOVADO GROUP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>624580106</cusip>
        <value>673113</value>
        <shrsOrPrnAmt>
            <sshPrnamt>24100</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>24100</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MSA SAFETY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>553498106</cusip>
        <value>1355130</value>
        <shrsOrPrnAmt>
            <sshPrnamt>7000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>7000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MYERS INDUSTRIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>628464109</cusip>
        <value>11483052</value>
        <shrsOrPrnAmt>
            <sshPrnamt>495600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>495600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MYR GROUP INC/DELAWARE</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>55405W104</cusip>
        <value>1590750</value>
        <shrsOrPrnAmt>
            <sshPrnamt>9000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>9000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NABORS INDUSTRIES INC 1.750 06/15/29 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>62957HAL9</cusip>
        <value>186548</value>
        <shrsOrPrnAmt>
            <sshPrnamt>250000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>250000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NAPCO SECURITY TECHNOLOGIES</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>630402105</cusip>
        <value>200800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NATHAN'S FAMOUS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>632347100</cusip>
        <value>12623640</value>
        <shrsOrPrnAmt>
            <sshPrnamt>178300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>178300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NATURAL GROCERS BY VITAMIN C</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>63888U108</cusip>
        <value>288800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>16000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>16000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NAVIGATOR HOLDINGS LTD</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>Y62132108</cusip>
        <value>1535000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>100000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>100000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NCL CORPORATION LTD 1.125 02/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>62886HBD2</cusip>
        <value>210983</value>
        <shrsOrPrnAmt>
            <sshPrnamt>223000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>223000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NEOGEN CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>640491106</cusip>
        <value>3043331</value>
        <shrsOrPrnAmt>
            <sshPrnamt>192860</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>192860</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NEOGENOMICS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>64049M209</cusip>
        <value>872460</value>
        <shrsOrPrnAmt>
            <sshPrnamt>55500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>55500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NEURONETICS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>64131A105</cusip>
        <value>85680</value>
        <shrsOrPrnAmt>
            <sshPrnamt>18000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>18000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NORTHERN OIL &amp; GAS INC 3.625 04/15/29 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>665531AJ8</cusip>
        <value>487016</value>
        <shrsOrPrnAmt>
            <sshPrnamt>400000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>400000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NORTHRIM BANCORP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>666762109</cusip>
        <value>211990</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4197</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4197</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OIL-DRI CORP OF AMERICA</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>677864100</cusip>
        <value>782880</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ON SEMICONDUCTOR CORP 0.500 03/01/29 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>682189AU9</cusip>
        <value>394756</value>
        <shrsOrPrnAmt>
            <sshPrnamt>400000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>400000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OOMA INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>683416101</cusip>
        <value>341200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>40000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>40000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OPENLANE INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>48238T109</cusip>
        <value>536300</value>
        <shrsOrPrnAmt>
            <sshPrnamt>31000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>31000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OPKO HEALTH INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>68375N103</cusip>
        <value>194400</value>
        <shrsOrPrnAmt>
            <sshPrnamt>162000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>162000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OPTION CARE HEALTH INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>68404L201</cusip>
        <value>704340</value>
        <shrsOrPrnAmt>
            <sshPrnamt>21000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>21000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ORMAT TECHNOLOGIES INC 2.500 07/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>686688AB8</cusip>
        <value>362933</value>
        <shrsOrPrnAmt>
            <sshPrnamt>375000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>375000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ORTHOFIX MEDICAL INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>68752M108</cusip>
        <value>326700</value>
        <shrsOrPrnAmt>
            <sshPrnamt>22500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>22500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PACIFIC PREMIER BANCORP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>69478X105</cusip>
        <value>204000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>8500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>8500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PARK AEROSPACE CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>70014A104</cusip>
        <value>1007778</value>
        <shrsOrPrnAmt>
            <sshPrnamt>60600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>60600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PARK-OHIO HOLDINGS CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>700666100</cusip>
        <value>5029180</value>
        <shrsOrPrnAmt>
            <sshPrnamt>188500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>188500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PITNEY BOWES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>724479100</cusip>
        <value>216500</value>
        <shrsOrPrnAmt>
            <sshPrnamt>50000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>50000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PLAYAGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>72814N104</cusip>
        <value>1744814</value>
        <shrsOrPrnAmt>
            <sshPrnamt>194300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>194300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PLAYSTUDIOS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>72815G108</cusip>
        <value>68388</value>
        <shrsOrPrnAmt>
            <sshPrnamt>24600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>24600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PPL CAPITAL FUNDING INC 2.875 03/15/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>69352PAS2</cusip>
        <value>479535</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PRIMIS FINANCIAL CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>74167B109</cusip>
        <value>182550</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PRIMO WATER CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>74167P108</cusip>
        <value>273150</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>READING INTERNATIONAL INC-A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>755408101</cusip>
        <value>428720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>233000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>233000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>READING INTERNATIONAL INC-B</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>755408200</cusip>
        <value>1121208</value>
        <shrsOrPrnAmt>
            <sshPrnamt>74400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>74400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>REDWOOD TRUST INC 7.750 06/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>758075AF2</cusip>
        <value>240985</value>
        <shrsOrPrnAmt>
            <sshPrnamt>250000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>250000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RENASANT CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>75970E107</cusip>
        <value>956200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>30530</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>30530</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RGC RESOURCES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>74955L103</cusip>
        <value>1761082</value>
        <shrsOrPrnAmt>
            <sshPrnamt>87010</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>87010</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RPC INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>749660106</cusip>
        <value>448920</value>
        <shrsOrPrnAmt>
            <sshPrnamt>58000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>58000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RUSH ENTERPRISES INC - CL B</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>781846308</cusip>
        <value>4337806</value>
        <shrsOrPrnAmt>
            <sshPrnamt>81400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>81400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RUSH ENTERPRISES INC-CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>781846209</cusip>
        <value>802800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>RUSH STREET INTERACTIVE INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>782011100</cusip>
        <value>70959</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10900</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10900</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>S&amp;W SEED CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>785135104</cusip>
        <value>44500</value>
        <shrsOrPrnAmt>
            <sshPrnamt>92000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>92000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SANDY SPRING BANCORP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>800363103</cusip>
        <value>725534</value>
        <shrsOrPrnAmt>
            <sshPrnamt>31300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>31300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SAREPTA THERAPEUTICS INC 1.250 09/15/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>803607AD2</cusip>
        <value>234080</value>
        <shrsOrPrnAmt>
            <sshPrnamt>200000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>200000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SEMTECH CORP 1.625 11/01/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>816850AF8</cusip>
        <value>497645</value>
        <shrsOrPrnAmt>
            <sshPrnamt>500000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>500000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SILVERCREST ASSET MANAGEME-A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>828359109</cusip>
        <value>1082985</value>
        <shrsOrPrnAmt>
            <sshPrnamt>68500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>68500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SINCLAIR INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>829242106</cusip>
        <value>431040</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>32000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SKYLINE CHAMPION CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>830830105</cusip>
        <value>1912725</value>
        <shrsOrPrnAmt>
            <sshPrnamt>22500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>22500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SKYWATER TECHNOLOGY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>83089J108</cusip>
        <value>634883</value>
        <shrsOrPrnAmt>
            <sshPrnamt>62427</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>62427</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SOUTHERN FIRST BANCSHARES</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>842873101</cusip>
        <value>1191000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>37500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>37500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SOUTHSTATE CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>840441109</cusip>
        <value>756767</value>
        <shrsOrPrnAmt>
            <sshPrnamt>8900</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>8900</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SPORTSMAN'S WAREHOUSE HOLDIN</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>84920Y106</cusip>
        <value>208370</value>
        <shrsOrPrnAmt>
            <sshPrnamt>67000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>67000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STANDARD MOTOR PRODS</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>853666105</cusip>
        <value>1298385</value>
        <shrsOrPrnAmt>
            <sshPrnamt>38700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>38700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STANDEX INTERNATIONAL CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>854231107</cusip>
        <value>1275540</value>
        <shrsOrPrnAmt>
            <sshPrnamt>7000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>7000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STARRETT (L.S.) CO -CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>855668109</cusip>
        <value>1048740</value>
        <shrsOrPrnAmt>
            <sshPrnamt>66000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>66000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STEEL PARTNERS HOLDINGS LP</nameOfIssuer>
        <titleOfClass>EQUITY UNIT</titleOfClass>
        <cusip>85814R107</cusip>
        <value>495625</value>
        <shrsOrPrnAmt>
            <sshPrnamt>12500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>12500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STELLAR BANCORP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>858927106</cusip>
        <value>1559040</value>
        <shrsOrPrnAmt>
            <sshPrnamt>64000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>64000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STERIS PLC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>G8473T100</cusip>
        <value>292266</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STONERIDGE INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>86183P102</cusip>
        <value>968100</value>
        <shrsOrPrnAmt>
            <sshPrnamt>52500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>52500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STRIDE INC 1.125 09/01/27 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>86333MAA6</cusip>
        <value>529720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>400000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>400000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SUNNOVA ENERGY INTL INC 2.625 02/15/28 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>86745KAH7</cusip>
        <value>289198</value>
        <shrsOrPrnAmt>
            <sshPrnamt>700000</sshPrnamt>
            <sshPrnamtType>PRN</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>700000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SURMODICS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>868873100</cusip>
        <value>938880</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>32000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TEJON RANCH CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>879080109</cusip>
        <value>1439294</value>
        <shrsOrPrnAmt>
            <sshPrnamt>93400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>93400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TENNANT CO</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>880345103</cusip>
        <value>1884955</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TITAN INTERNATIONAL INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>88830M102</cusip>
        <value>255430</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>20500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TITAN MACHINERY INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>88830R101</cusip>
        <value>1761510</value>
        <shrsOrPrnAmt>
            <sshPrnamt>71000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>71000</Sole>
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            <None>0</None>
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        <nameOfIssuer>TKO GROUP HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>87256C101</cusip>
        <value>1036920</value>
        <shrsOrPrnAmt>
            <sshPrnamt>12000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>12000</Sole>
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            <None>0</None>
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        <nameOfIssuer>TOWNSQUARE MEDIA INC - CL A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>892231101</cusip>
        <value>1487790</value>
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            <sshPrnamt>135500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>135500</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>TRANSACT TECHNOLOGIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>892918103</cusip>
        <value>170300</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>32500</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>TREDEGAR CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>894650100</cusip>
        <value>978000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>150000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>150000</Sole>
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            <None>0</None>
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        <nameOfIssuer>TRINITY PLACE HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>89656D101</cusip>
        <value>22350</value>
        <shrsOrPrnAmt>
            <sshPrnamt>149000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>149000</Sole>
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            <None>0</None>
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        <nameOfIssuer>TRUSTCO BANK CORP NY</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>898349204</cusip>
        <value>281882</value>
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            <sshPrnamt>10010</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10010</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>TWIN DISC INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>901476101</cusip>
        <value>1702590</value>
        <shrsOrPrnAmt>
            <sshPrnamt>103000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>103000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>TYLER TECHNOLOGIES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>902252105</cusip>
        <value>425010</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>ULTRA CLEAN HOLDINGS INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>90385V107</cusip>
        <value>3055010</value>
        <shrsOrPrnAmt>
            <sshPrnamt>66500</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>66500</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>ULTRALIFE CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>903899102</cusip>
        <value>1030770</value>
        <shrsOrPrnAmt>
            <sshPrnamt>117000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>117000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>UNITED BANKSHARES INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>909907107</cusip>
        <value>286320</value>
        <shrsOrPrnAmt>
            <sshPrnamt>8000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>8000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>UNITED GUARDIAN INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>910571108</cusip>
        <value>518372</value>
        <shrsOrPrnAmt>
            <sshPrnamt>67761</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>67761</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>UNIVERSAL TECHNICAL INSTITUT</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>913915104</cusip>
        <value>1275200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>80000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>80000</Sole>
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            <None>0</None>
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        <nameOfIssuer>VALLEY NATIONAL BANCORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>919794107</cusip>
        <value>350240</value>
        <shrsOrPrnAmt>
            <sshPrnamt>44000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>44000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>VALUE LINE INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>920437100</cusip>
        <value>1287900</value>
        <shrsOrPrnAmt>
            <sshPrnamt>31800</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>31800</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>VIAD CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>92552R406</cusip>
        <value>1382150</value>
        <shrsOrPrnAmt>
            <sshPrnamt>35000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>35000</Sole>
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            <None>0</None>
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        <nameOfIssuer>VILLAGE SUPER MARKET-CLASS A</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>927107409</cusip>
        <value>1793847</value>
        <shrsOrPrnAmt>
            <sshPrnamt>62700</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>62700</Sole>
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            <None>0</None>
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        <nameOfIssuer>VISHAY PRECISION GROUP</nameOfIssuer>
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        <value>1908244</value>
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            <sshPrnamt>54012</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>54012</Sole>
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            <None>0</None>
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        <nameOfIssuer>WABASH NATIONAL CORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>929566107</cusip>
        <value>1434126</value>
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            <sshPrnamt>47900</sshPrnamt>
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        <votingAuthority>
            <Sole>47900</Sole>
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            <None>0</None>
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        <nameOfIssuer>WASHINGTON TRUST BANCORP</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>940610108</cusip>
        <value>1086221</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>40410</Sole>
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            <None>0</None>
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        <nameOfIssuer>WATERSTONE FINANCIAL INC</nameOfIssuer>
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        <cusip>94188P101</cusip>
        <value>766710</value>
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            <sshPrnamt>63000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>63000</Sole>
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        <nameOfIssuer>WESTERN NEW ENGLAND BANCORP</nameOfIssuer>
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        <cusip>958892101</cusip>
        <value>575250</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>75000</Sole>
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            <None>0</None>
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        <nameOfIssuer>WILLAMETTE VALLEY VINEYARDS</nameOfIssuer>
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        <cusip>969136100</cusip>
        <value>120520</value>
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            <sshPrnamt>23000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>23000</Sole>
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            <None>0</None>
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        <nameOfIssuer>WILLDAN GROUP INC</nameOfIssuer>
        <titleOfClass>EQUITY</titleOfClass>
        <cusip>96924N100</cusip>
        <value>1565460</value>
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            <sshPrnamt>54000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>54000</Sole>
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        <nameOfIssuer>WINNEBAGO INDUSTRIES</nameOfIssuer>
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        <cusip>974637100</cusip>
        <value>2072000</value>
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            <sshPrnamt>28000</sshPrnamt>
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        <investmentDiscretion>SOLE</investmentDiscretion>
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            <Sole>28000</Sole>
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            <None>0</None>
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        <nameOfIssuer>WOLFSPEED INC 1.875 12/01/29 CVT</nameOfIssuer>
        <titleOfClass>BOND CONVERTIBLE</titleOfClass>
        <cusip>977852AD4</cusip>
        <value>340530</value>
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        <votingAuthority>
            <Sole>600000</Sole>
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        <nameOfIssuer>YORK WATER CO</nameOfIssuer>
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        <value>1365928</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>37660</Sole>
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        <nameOfIssuer>ZIMVIE INC</nameOfIssuer>
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        <cusip>98888T107</cusip>
        <value>791520</value>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>48000</Sole>
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            <None>0</None>
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</informationTable>
