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
AMERICAN AIRLS GROUP INC COM 02376R102 9,708 250,000 SH   SOLE None 250,000 0 0
CHENIERE ENERGY INC COM NEW 16411R208 2,415 50,000 SH   SOLE None 50,000 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 9,915 250,000 SH   SOLE None 250,000 0 0
CONNS INC COM 208242107 3,606 150,000 SH Put SOLE None 150,000 0 0
EMERGENT CAP INC COM 29102N105 2,869 526,492 SH   SOLE None 526,492 0 0
GREEN PLAINS INC COM 393222104 14,017 720,300 SH Call SOLE None 720,300 0 0
GREEN PLAINS INC COM 393222104 24,088 1,237,804 SH   SOLE None 1,237,804 0 0
NET ELEMENT INC COM 64111R102 4 23,390 SH   SOLE None 23,390 0 0
NII HLDGS INC COM PAR $0.001 62913F508 3,982 611,734 SH   SOLE None 611,734 0 0
PACIFIC ETHANOL INC COM PAR $.001 69423U305 45,171 6,960,147 SH   SOLE None 6,960,147 0 0
STAR BULK CARRIERS CORP SHS NEW Y8162K121 60 29,399 SH   SOLE None 29,399 0 0
SUNEDISON INC COM 86732Y109 3,590 500,000 SH   SOLE None 500,000 0 0
TITAN INTL INC ILL COM 88830M102 215 32,507 SH   SOLE None 32,507 0 0