<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>AGNICO EAGLE MINES LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>008474108</cusip>
			<value>3058</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101080</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>101080</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALPHA PRO TECH LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020772109</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERCO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023586100</cusip>
			<value>232</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN INTL GROUP, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>026874784</cusip>
			<value>5001</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>APPLIED MATERIALS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>038222105</cusip>
			<value>4083</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARROW ELECTRONICS INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>042735100</cusip>
			<value>441</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7426</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>7426</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THE BANCORP INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05969A105</cusip>
			<value>1864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99083</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>99083</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANC OF CALIFORNIA INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05990K106</cusip>
			<value>1227</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>BANK OF AMERICA CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>5160</value>
			<shrsOrPrnAmt>
				<sshPrnamt>300000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>300000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BARCLAYS BK PLC-IPATH S&amp;P 500 *VIX S-T FUTURES ETN NEW 2013 FUTURES ETN NEW 2013 ETN</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>06742E711</cusip>
			<value>42</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084670108</cusip>
			<value>6932</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOGEN IDEC INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X103</cusip>
			<value>765</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>BLACKSTONE MORTGAGE TRUST INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09257W100</cusip>
			<value>2605</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90606</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>90606</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BODY CENTRAL ACQUISITION CORP. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09689U102</cusip>
			<value>1</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS CAREMARK CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>1497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTRAL SECURITIES CORP. MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>155123102</cusip>
			<value>163</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>7300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIBER INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17163B102</cusip>
			<value>916</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONATUS PHARMACEUTICALS INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20600T108</cusip>
			<value>1205</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148178</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>148178</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONCERT PHARMACEUTICALS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>206022105</cusip>
			<value>559</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41556</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>41556</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONTINENTAL BLDG PRODS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>211171103</cusip>
			<value>401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONTINENTAL MATERIALS CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>211615307</cusip>
			<value>93</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4771</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4771</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COOPER-STANDARD HOLDINGS INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21676P103</cusip>
			<value>162</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2295</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2295</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUBIST PHARMACEUTICALS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229678107</cusip>
			<value>373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DAEGIS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233720101</cusip>
			<value>2</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOVER DOWNS GAMING &amp; ENTMT INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260095104</cusip>
			<value>25</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16157</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>16157</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ELLINGTON RESIDENTIAL MORT REIT CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>288578107</cusip>
			<value>1428</value>
			<shrsOrPrnAmt>
				<sshPrnamt>84425</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>84425</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENANTA PHARMACEUTICALS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29251M106</cusip>
			<value>46</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1139</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1139</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E Z CORP INC CL-A NON VTG CMN CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302301106</cusip>
			<value>1368</value>
			<shrsOrPrnAmt>
				<sshPrnamt>126804</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>126804</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDERATED NATL HLDG CO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31422T101</cusip>
			<value>1374</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>75000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDFIRST FINANCIAL CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31429C101</cusip>
			<value>88</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4390</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4390</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST CMNTY CORP S C CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>319835104</cusip>
			<value>216</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19301</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19301</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST FINL BANCORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>320209109</cusip>
			<value>1387</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77161</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77161</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FONAR CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>344437405</cusip>
			<value>18</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORD MOTOR COMPANY CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>345370860</cusip>
			<value>1560</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>FORTRESS INVESTMENT GROUP LLC CMN CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34958B106</cusip>
			<value>1591</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214982</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>214982</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FULL HOUSE RESORTS CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>359678109</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1197</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1197</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GABELLI HEALTHCARE &amp; WELLNESSR*X TRUST (THE) MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>36246K103</cusip>
			<value>113</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10925</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<nameOfIssuer>GIBRALTAR INDUSTRIES INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>374689107</cusip>
			<value>721</value>
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			<nameOfIssuer>GILEAD SCIENCES CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558103</cusip>
			<value>3323</value>
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				<Sole>46900</Sole>
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			<nameOfIssuer>GUARANTY FEDERAL BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40108P101</cusip>
			<value>64</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>HARVARD BIOSCIENCE INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>416906105</cusip>
			<value>29</value>
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				<sshPrnamt>6200</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>HORSEHEAD HOLDING CORP. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>440694305</cusip>
			<value>84</value>
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				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
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			<nameOfIssuer>HUDSON GLOBAL, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443787106</cusip>
			<value>18</value>
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			<nameOfIssuer>IMPERIAL HOLDINGS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452834104</cusip>
			<value>70</value>
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				<sshPrnamt>12100</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>12100</Sole>
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				<None>0</None>
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			<nameOfIssuer>ING AMERICA INSURANCE HOLDINGS*, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45685E106</cusip>
			<value>2865</value>
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				<sshPrnamt>79000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>79000</Sole>
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		<infoTable>
			<nameOfIssuer>INSPERITY INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45778Q107</cusip>
			<value>31</value>
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				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
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			<nameOfIssuer>INSTALLED BLDG PRODS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45780R101</cusip>
			<value>140</value>
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				<sshPrnamt>10000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>INTERCEPT PHARMACEUTICALS, INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45845P108</cusip>
			<value>33</value>
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				<sshPrnamt>100</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>INTERMUNE, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45884X103</cusip>
			<value>494</value>
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			<nameOfIssuer>JPMORGAN CHASE &amp; CO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>4873</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>KEMET CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>488360207</cusip>
			<value>1</value>
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				<None>0</None>
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			<nameOfIssuer>KINDER MORGAN INC CMN CLASS P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B101</cusip>
			<value>487</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>15000</Sole>
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			<nameOfIssuer>LKQ CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501889208</cusip>
			<value>527</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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				<None>0</None>
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			<nameOfIssuer>LEUCADIA NATIONAL CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>527288104</cusip>
			<value>571</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20400</Sole>
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			<nameOfIssuer>LUBYS INC CMN STOCK CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>549282101</cusip>
			<value>6</value>
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				<sshPrnamt>900</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>900</Sole>
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			<nameOfIssuer>MFC INDUSTRIAL LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55278T105</cusip>
			<value>848</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>MVC CAPITAL INC CLOSED END FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>553829102</cusip>
			<value>749</value>
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			<nameOfIssuer>MACY&apos;S INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55616P104</cusip>
			<value>919</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>MALIBU BOATS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56117J100</cusip>
			<value>22</value>
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				<sshPrnamt>1000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>MARCHEX INC CMN CLASS B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56624R108</cusip>
			<value>177</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>MEDIVATION INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58501N101</cusip>
			<value>2253</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>MERCK &amp; CO., INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>1703</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>MICROSOFT CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918104</cusip>
			<value>4099</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>NATURES SUNSHINE PRODS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>639027101</cusip>
			<value>331</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>NORDSTROM INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>62</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>OCCIDENTAL PETROLEUM CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>674599105</cusip>
			<value>953</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>OLD REPUBLIC INTL CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>680223104</cusip>
			<value>1348</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82216</sshPrnamt>
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			<nameOfIssuer>OXIGENE INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>691828404</cusip>
			<value>369</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>PACIFIC PREMIER BANCORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69478X105</cusip>
			<value>1314</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>QC HOLDINGS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74729T101</cusip>
			<value>6</value>
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			<nameOfIssuer>QUESTCOR PHARMACEUTICALS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74835Y101</cusip>
			<value>643</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9900</sshPrnamt>
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		<infoTable>
			<nameOfIssuer>RADIANT LOGISTICS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75025X100</cusip>
			<value>26</value>
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			<nameOfIssuer>RICE ENERGY INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>762760106</cusip>
			<value>388</value>
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			<nameOfIssuer>SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>78462F103</cusip>
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			<nameOfIssuer>SMITH &amp; WESSON HOLDING CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>831756101</cusip>
			<value>249</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17000</sshPrnamt>
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			<nameOfIssuer>SOCIEDAD QUIMICA MINERAL DE CHILE S A SPON ADR REPSTG SER B SHS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>833635105</cusip>
			<value>1257</value>
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			<nameOfIssuer>SPRINGLEAF HOLDINGS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85172J101</cusip>
			<value>769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30590</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>30590</Sole>
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				<None>0</None>
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			<nameOfIssuer>STARWOOD PROPERTY TRUST INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85571B105</cusip>
			<value>1165</value>
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				<Sole>49400</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TEKMIRA PHARMACEUTICALS CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87911B209</cusip>
			<value>1298</value>
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				<sshPrnamt>60410</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>60410</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>TESARO INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>881569107</cusip>
			<value>265</value>
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				<sshPrnamt>9000</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>TG THERAPEUTICS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88322Q108</cusip>
			<value>115</value>
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				<sshPrnamt>16676</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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			<nameOfIssuer>TOLL BROTHERS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>889478103</cusip>
			<value>870</value>
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				<sshPrnamt>24231</sshPrnamt>
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			<nameOfIssuer>TRUEBLUE, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89785X101</cusip>
			<value>580</value>
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				<Sole>19838</Sole>
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			<nameOfIssuer>TUCOWS, INC. CMN CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>898697206</cusip>
			<value>357</value>
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				<sshPrnamt>28239</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28239</Sole>
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				<None>0</None>
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			<nameOfIssuer>U.S. GLOBAL INVESTORS INC A CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902952100</cusip>
			<value>3</value>
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			<nameOfIssuer>UNITED INSURANCE HOLDINGS CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>910710102</cusip>
			<value>2900</value>
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			<nameOfIssuer>UNITED ONLINE, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911268209</cusip>
			<value>4</value>
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				<sshPrnamt>328</sshPrnamt>
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			<nameOfIssuer>UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911312106</cusip>
			<value>4683</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48091</Sole>
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				<None>0</None>
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			<nameOfIssuer>VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF  SER VIPERS</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921908844</cusip>
			<value>21121</value>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>280756</Sole>
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				<None>0</None>
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			<nameOfIssuer>VANGUARD FTSE DEVELOPED MKTS CMN ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921943858</cusip>
			<value>18</value>
			<shrsOrPrnAmt>
				<sshPrnamt>434</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922042775</cusip>
			<value>27</value>
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			<votingAuthority>
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			<nameOfIssuer>VANGUARD INDEX FUNDS VANGUARD S&amp;P 500 ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922908363</cusip>
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			<nameOfIssuer>YAHOO INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>984332106</cusip>
			<value>359</value>
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			<nameOfIssuer>YAMANA GOLD INC CMN</nameOfIssuer>
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			<cusip>98462Y100</cusip>
			<value>1373</value>
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			<nameOfIssuer>BLUE CAPITAL REINSURANCE HOLDI*NGS LIMITED CMN</nameOfIssuer>
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			<cusip>G1190F107</cusip>
			<value>2113</value>
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			<nameOfIssuer>ESSENT GROUP LTD. CMN</nameOfIssuer>
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			<cusip>G3198U102</cusip>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<nameOfIssuer>GREENLIGHT CAPITAL RE LTD-A CMN</nameOfIssuer>
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			<nameOfIssuer>MAGICJACK VOCALTEC LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>M6787E101</cusip>
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			<nameOfIssuer>DHT HOLDINGS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
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</informationTable>
