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    <nameOfIssuer>ALPHA NATURAL RESOURCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02076X102</cusip>
    <value>5307</value>
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    <nameOfIssuer>AMBAC FINL GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>023139884</cusip>
    <value>32953</value>
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    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039380100</cusip>
    <value>5116</value>
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      <sshPrnamt>1149600</sshPrnamt>
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      <Sole>1149600</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARIAD PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04033A100</cusip>
    <value>7201</value>
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      <sshPrnamt>1055900</sshPrnamt>
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      <Sole>1055900</Sole>
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      <None>0</None>
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    <nameOfIssuer>BANK OF AMERICA CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>9837</value>
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      <sshPrnamt>631800</sshPrnamt>
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      <Sole>631800</Sole>
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      <None>0</None>
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    <nameOfIssuer>BARRICK GOLD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>067901108</cusip>
    <value>5039</value>
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      <Sole>285800</Sole>
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      <None>0</None>
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    <nameOfIssuer>BEAZER HOMES USA INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>07556Q881</cusip>
    <value>23118</value>
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      <sshPrnamt>946700</sshPrnamt>
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      <Sole>946700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BIOSCRIP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09069N108</cusip>
    <value>4938</value>
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      <sshPrnamt>667300</sshPrnamt>
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    <votingAuthority>
      <Sole>667300</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BLACKBERRY LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09228F103</cusip>
    <value>10618</value>
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      <sshPrnamt>1427100</sshPrnamt>
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      <Sole>1427100</Sole>
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      <None>0</None>
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    <nameOfIssuer>CASCADE BANCORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>147154207</cusip>
    <value>11419</value>
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      <sshPrnamt>2183389</sshPrnamt>
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      <Sole>2183389</Sole>
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      <None>0</None>
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    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>19578</value>
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      <sshPrnamt>375700</sshPrnamt>
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    <votingAuthority>
      <Sole>375700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>D R HORTON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23331A109</cusip>
    <value>11269</value>
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      <None>0</None>
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    <nameOfIssuer>DENDREON CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24823Q107</cusip>
    <value>6429</value>
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      <Sole>2150000</Sole>
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      <None>0</None>
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    <nameOfIssuer>DEX MEDIA INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25213A107</cusip>
    <value>1827</value>
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      <sshPrnamt>269800</sshPrnamt>
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    <votingAuthority>
      <Sole>269800</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>EDWARDS LIFESCIENCES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28176E108</cusip>
    <value>5031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76500</sshPrnamt>
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      <Sole>76500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>HALCON RES CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>40537Q209</cusip>
    <value>4872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1262200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>1262200</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HESS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42809H107</cusip>
    <value>67471</value>
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      <sshPrnamt>812900</sshPrnamt>
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    <votingAuthority>
      <Sole>812900</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HOVNANIAN ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>442487203</cusip>
    <value>24881</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>3758400</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>LOUISIANA PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>546347105</cusip>
    <value>27137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1466068</sshPrnamt>
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      <Sole>1466068</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>LULULEMON ATHLETICA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>550021109</cusip>
    <value>4864</value>
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      <sshPrnamt>82400</sshPrnamt>
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      <Sole>82400</Sole>
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      <None>0</None>
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    <nameOfIssuer>M D C HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552676108</cusip>
    <value>5394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167300</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>167300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>M/I HOMES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55305B101</cusip>
    <value>9338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>366900</Sole>
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      <None>0</None>
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    <nameOfIssuer>MOLYCORP INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>608753109</cusip>
    <value>5723</value>
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      <sshPrnamt>1018300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1018300</Sole>
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      <None>0</None>
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    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>617446448</cusip>
    <value>9844</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>313900</Sole>
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      <None>0</None>
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    <nameOfIssuer>NII HLDGS INC</nameOfIssuer>
    <titleOfClass>CL B NEW</titleOfClass>
    <cusip>62913F201</cusip>
    <value>6017</value>
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      <sshPrnamt>2187950</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>PARKERVISION INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>701354102</cusip>
    <value>3578</value>
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      <sshPrnamt>786357</sshPrnamt>
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      <Sole>786357</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>PENNEY J C INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>708160106</cusip>
    <value>5416</value>
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      <sshPrnamt>591900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>591900</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>RADIOSHACK CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750438103</cusip>
    <value>12147</value>
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      <sshPrnamt>4671989</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>4671989</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>SANOFI</nameOfIssuer>
    <titleOfClass>RIGHT 12/31/2020</titleOfClass>
    <cusip>80105N113</cusip>
    <value>425</value>
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      <None>0</None>
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    <nameOfIssuer>SCORPIO BULKERS INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>Y7546A106</cusip>
    <value>10515</value>
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      <Sole>1046300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>SEARS HLDGS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>812350106</cusip>
    <value>5257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107200</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>107200</Sole>
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      <None>0</None>
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    <nameOfIssuer>WALTER ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93317Q105</cusip>
    <value>5365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>322600</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>322600</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>WEIGHT WATCHERS INTL INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>948626106</cusip>
    <value>9935</value>
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      <sshPrnamt>301702</sshPrnamt>
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    <votingAuthority>
      <Sole>301702</Sole>
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      <None>0</None>
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    <nameOfIssuer>YRC WORLDWIDE INC</nameOfIssuer>
    <titleOfClass>COM PAR $.01</titleOfClass>
    <cusip>984249607</cusip>
    <value>5958</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>343016</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ZYNGA INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>98986T108</cusip>
    <value>12756</value>
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      <sshPrnamt>3356900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3356900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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</informationTable>
