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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
COMTECH TELECOMM COM NEW 205826209 3,823 120,000 SH Call SOLE NONE 120,000 0 0
CLUBCORP HOLDINGS INC COM NEW 18948M108 1,794 94,900 SH Call SOLE NONE 94,900 0 0
VOCUS INC COM NEW 92858J108 667 50,000 SH Call SOLE NONE 50,000 0 0
NORTHWEST PIPE CO COM NEW 667746101 10,823 299,300 SH Call SOLE NONE 299,300 0 0
ARDMORE SHIPPING CORP COM NEW Y0207T100 1,272 95,648 SH   SOLE NONE 95,648 0 0
AEROPOSTALE INC COM NEW 007865108 2,037 405,817 SH   SOLE NONE 405,817 0 0
DIVERSIFIED RSTRNT HLDGS COM NEW 25532M105 1,986 397,275 SH   SOLE NONE 397,275 0 0
BIG LOTS INC CMN COM NEW 089302103 1,816 47,956 SH   SOLE NONE 47,956 0 0
BONTON STORES INC COM NEW 09776J101 1,649 150,207 SH   SOLE NONE 150,207 0 0
CACHE INC COM NEW 127150308 2,942 894,362 SH   SOLE NONE 894,362 0 0
CALLAWAY GOLF COM NEW 131193104 4,146 405,700 SH   SOLE NONE 405,700 0 0
GREAT LAKES DREDGE COM NEW 390607109 2,356 258,000 SH   SOLE NONE 258,000 0 0
CHILDRENS PLACE COM NEW 168905107 2,835 56,922 SH   SOLE NONE 56,922 0 0
CINEDIGM CORP COM NEW 172406100 832 325,029 SH   SOLE NONE 325,029 0 0
MOTORCAR PTS AMER INC COM NEW 620071100 1,947 73,272 SH   SOLE NONE 73,272 0 0
NORTH AMERN ENERGY PTNS COM NEW 656844107 7,810 1,084,667 SH   SOLE NONE 1,084,667 0 0
NORTHWEST PIPE CO COM NEW 667746101 2,947 81,494 SH   SOLE NONE 81,494 0 0
CLUBCORP HOLDINGS INC COM NEW 18948M108 4,891 258,764 SH   SOLE NONE 258,764 0 0
DELIAS INC COM NEW 246911101 343 408,752 SH   SOLE NONE 408,752 0 0
JIVE SOFTWARE INC COM NEW 47760A108 2,208 275,632 SH   SOLE NONE 275,632 0 0
QUANTUM CORP COM NEW 747906204 2,396 1,963,858 SH   SOLE NONE 1,963,858 0 0
MODUSLINK GLOBAL COM NEW 60786L107 1,151 272,000 SH   SOLE NONE 272,000 0 0
REX AMERICAN RESOURCES COM NEW 761624105 1,995 34,972 SH   SOLE NONE 34,972 0 0
MCDERMOTT INTL INC COM NEW 580037109 2,292 293,055 SH   SOLE NONE 293,055 0 0
MARCHEX INC COM NEW 56624R108 4,276 406,880 SH   SOLE NONE 406,880 0 0
NEW MEDIA INVESTMENT COM NEW 64704V106 2,641 175,819 SH   SOLE NONE 175,819 0 0
OFFICE DEPOT INC COM NEW 676220106 3,365 814,774 SH   SOLE NONE 814,774 0 0
VOCUS INC COM NEW 92858J108 3,843 288,300 SH   SOLE NONE 288,300 0 0
WAUSAU PAPER CORP COM NEW 943315101 2,525 198,360 SH   SOLE NONE 198,360 0 0
ROUSE PROPERTIES INC COM NEW 779287101 1,824 105,800 SH   SOLE NONE 105,800 0 0
VALUEVISION MEDIA INC COM NEW 92047K107 1,741 358,209 SH   SOLE NONE 358,209 0 0
VONAGE HLDGS CORP COM NEW 92886T201 2,912 681,863 SH   SOLE NONE 681,863 0 0