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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2011-55
March 22, 2011

Commission Announcements

Securities and Exchange Commission Charges Three Firms and Four Individuals In Los Angeles-Based Boiler Room Operation

On March 21, 2011 the Securities and Exchange Commission charged three firms and four individuals involved in a boiler room scheme operating out of Los Angeles that defrauded investors who they persuaded to buy purported automated trading systems.

The Commission alleges that representatives of Spyglass Equity Systems Inc. cold-called investors and made false and misleading statements to help raise more than $2.15 million from nearly 200 investors nationwide for two related investment companies – Flatiron Capital Partners LLC (FCP) and Flatiron Systems LLC (FS). The managing member of the two firms, David E. Howard II, Spyglass and its owners, Richard L. Carter, Preston L. Sjoblom and Tyson D. Elliott are also charged with fraud in connection with the unregistered securities offerings. The complaint alleges that Spyglass representatives falsely touted the successful performance history and level of automation of the trading systems, and misled investors to believe that FCP and FS had positive reputations and solid affiliations in the brokerage industry. Spyglass earned an estimated $1 million in the deal. The automated trading systems pitched to investors by Spyglass representatives could only be used if the investor also funded a brokerage account at FCP. However, FCP was not a broker-dealer and thus could not offer brokerage services to customers.

The complaint further alleges that only a little more than half of the money raised from investors was actually used for the advertised trading purposes, and much of the trading that did occur failed to use the purported trading systems. FCP and FS wound up losing about $1 million in investor funds. Howard misused almost $500,000 of investor money for unauthorized business expenses as well as personal expenses including travel, entertainment, and gifts for his girlfriend.

The SEC's complaint charges Spyglass, Sjoblom, Carter, Elliott, FS, FCP and Howard with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; FS, FCP and Howard with violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933; Spyglass, Sjoblom, Carter and Elliott with violation of Section 15(a) of the Exchange Act; FS and FCP of violations of Section 7(a) of the Investment Company Act of 1940; Howard with violations of Section 206(1), (2) and (4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder; and Spyglass, Carter, Sjoblom and Elliott with aiding abetting Howard’s violations of Section 206(4) of the Advisers Act and Rule 206(4)-8 thereunder. The SEC seeks permanent injunctions, disgorgement plus prejudgment and post-judgment interest, and financial penalties. (Press Rel. 2011-70; LR-21892).

Commission Meetings

Closed Meeting on Thursday, March 24, 2011 at 2:00 p.m.

The subject matter of the Closed Meeting scheduled for Thursday, March 24, 2011 will be: institution and settlement of injunctive actions; institution and settlement of administrative proceedings; a regulatory matter regarding a financial institution; consideration of amicus participation, and other matters relating to enforcement proceedings.

At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551-5400.

Closed Meeting on Tuesday, March 29, 2011 at 2:00 p.m.

The subject matter of the Closed Meeting scheduled for Tuesday, March 29, 2011 will be: institution and settlement of injunctive actions; institution and settlement of administrative proceedings; an adjudicatory matter; and other matters relating to enforcement proceedings.

At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551-5400.

Enforcement Proceedings

Securities and Exchange Commission Brings Fraud Charges in Silicon Valley Real Estate Investment Scheme

The Securities and Exchange Commission today charged Mountain View, Calif.-based JSW Financial Inc. and five officers for defrauding investors in two real estate funds, alleging that the firm used investor funds to prop up the officers’ own failing real estate development projects while concealing the loss of $17 million of investors’ money.

The SEC alleges that from 2002 to 2008, JSW and its predecessor, Jim Ward & Associates (JWA), created two real estate investment funds – Blue Chip Realty Fund and Shoreline Investment Fund – and told investors that their money would be used to make loans secured by residential real estate. In reality, according to the SEC, the firms’ officers used most of the money to make unsecured and undocumented loans to entities that the officers themselves controlled, which were suffering mounting losses and protracted delays on Silicon Valley real estate development projects. Meanwhile, as the enterprise collapsed, investors continued receiving monthly statements showing steady growth in the value of their portfolios.

The SEC’s complaint, filed today in federal district court in San Francisco, names as defendants founder James S. Ward and Edward G. Locker (both of Ohio) and David S. Lee, Richard F. Tipton and David C. Lin (all Silicon Valley residents). The complaint alleges that JSW and JWA, through these individual officers, breached their fiduciary duties by misusing investors’ money to benefit the officers rather than the funds. The SEC also alleges that the officers concealed millions of dollars in losses from Blue Chip and Shoreline investors by sending fraudulent account statements claiming that the Funds were earning more than 10% in annual profits, until the scheme collapsed in November 2008 and the officers finally revealed to investors that nearly all of the Blue Chip and Shoreline loans were unsecured. The SEC also alleges that Ward and Locker together took $900,000 of investor money to purchase homes for themselves.

SEC’s complaint charges JSW, Ward, Lee, Locker, Tipton and Lin with violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint also charges JSW with violating Sections 206(1), 206(2) and 206(4) of the Investment Advisers Act (Advisers Act) and Rule 206(4)-8 thereunder, and charges Ward, Lee, Locker, Tipton and Lin with aiding and abetting violations of Sections 206(1), 206(2) and 206(4) of the Advisers Act and Rule 206(4)-8 thereunder. The SEC seeks injunctive relief and disgorgement of ill-gotten gains against JSW, Ward, Lee, Locker, Tipton and Lin, as well as monetary penalties against the five officers. The complaint also seeks disgorgement of ill-gotten gains and appointment of a receiver over Blue Chip and Shoreline as relief defendants.

[SEC v. JSW Financial Inc., James S. Ward, David S. Lee, Edward G. Locker, Richard F. Tipton and David C. Lin, Case No. CV-11-1356 LB, N.D. Cal.] (LR-21893)

Securities and Exchange Commission Suspends Trading in the Securities of Five Issuers for Failure to Make Required Periodic Filings

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on March 22, 2011 and terminating at 11:59 p.m. EDT on April 4, 2011.

  • Circadian, Inc. (CKDN)
  • Clean Energy Combustion, Inc. (n/k/a Clean Energy Combustion Systems, Inc. (CECU))
  • Collectible Concepts Group, Inc. (CCNG)
  • Communitronics of America, Inc. (n/k/a RPM Advantage, Inc.) (RPMV)
  • ConSyGen, Inc. (CSGI)

The Commission temporarily suspended trading in the securities of these five issuers due to a lack of current and accurate information about the companies because they have not filed periodic reports with the Commission in over two years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by these companies.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of these companies that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Group of the Division of Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov. (Rel. 34-64103)

Commission Orders Hearings on Registration Suspension or Revocation Against Five Companies for Failure to Make Required Periodic Filings

In conjunction with this trading suspension, the Commission today also instituted separate public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of five companies for failure to make required periodic filings with the Commission:

In the Matter of Circadian, Inc., et al., Administrative Proceeding File No. 3-14301

  • Circadian, Inc. (CKDN)
  • Clean Energy Combustion, Inc. (n/k/a Clean Energy Combustion Systems, Inc. (CECU)
  • Collectible Concepts Group, Inc. (CCNG)
  • Communitronics of America, Inc. (n/k/a RPM Advantage, Inc.) (RPMV)
  • ConSyGen, Inc. (CSGI)

In the Order, the Division of Enforcement (Division) alleges that the respective Respondents are delinquent in their required periodic filings with the Commission.

In these proceedings, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the Respondents to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder, are true. The judge in the proceedings will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of these Respondents should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in the proceedings issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. (Rel. 34-64104; File No. 3-14301).

In the Matter of Rebecca A. Townsend

The United States Securities and Exchange Commission (Commission) announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Rebecca A. Townsend (Townsend). The Order finds that Townsend was Vice President of Enterprise Trust Company (Enterprise), an unregistered investment adviser. The Order also finds that Townsend was permanently enjoined, by consent, from violating Section 10(b) of the Securities Exchange Act of 1934 based upon allegations in the Commission’s complaint that she and others defrauded advisory clients by using their assets for leveraged margin trading. The Order further finds that this trading was designed to benefit Townsend and other Enterprise employees, and other Enterprise clients.

Based on the above, the Order bars Townsend from association with any investment adviser. Townsend consented to the issuance of the Order without admitting or denying any of the findings except that she admitted the entry of the injunction. (IA-3177; File No. 3-14300)

Securities Act Registrations

The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue.

Registration statements may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.

S-1     Cheval Resources Corp, 3211 OCEAN DRIVE, VERO, FL, 32963, 
        772.584.3308 - 22,500,000 ($22,500,000.00) Equity, (File 333-172954 - 
        Mar. 21) (BR. 09)

S-3     ASR  UNIVERSAL DISPLAY CORP \PA\, 6096710980 - 0 ($0.00) Equity, 
        (File 333-172955 - Mar. 21) (BR. 10C)

        39501, 6018684605 - 0 ($230,000,000.00) Equity, (File 333-172956 - 
        Mar. 21) (BR. 07B)

S-8     ChinaCache International Holdings Ltd., 6/F, BLOCK A, GALAXY PLAZA, 
        86 10 6437-3399 – 0 ($13,691,738.60) Equity, (File 333-172962 - Mar. 21) (BR. 03C)

S-4     Energy XXI Gulf Coast, Inc., 1021 MAIN STREET, SUITE 2626, HOUSTON, TX, 77002, 
        713-351-3000 - 0 ($250,000,000.00) Equity, (File 333-172963 - Mar. 21) (BR. 04)

S-8     MARCHEX INC, 520 PIKE STREET, SUITE 2000, SEATTLE, WA, 98101, 
        206-774-5000 - 0 ($14,694,947.00) Equity, (File 333-172967 - Mar. 21) 
        (BR. 03B)

N-2     Solar Capital Ltd., 500 PARK AVENUE, 5TH FLOOR, NEW YORK, NY, 10022, 
        (212) 993-1670 - 0 ($1,000,000,000.00) Other, (File 333-172968 - 
        Mar. 21) (BR. 18)

S-8     PVF CAPITAL CORP, 30000 AURORA ROAD, SOLON, OH, 44139, 4402487171 - 
        2,500,000 ($4,725,000.00) Equity, (File 333-172969 - Mar. 21) (BR. 07A)

        803-231-3581 - 0 ($34,717,734.00) Equity, (File 333-172970 - Mar. 21) 
        (BR. 07B)

        T2E 0M3, (403) 475-4300 - 40,000,000 ($1,342,000.00) Equity,
        (File 333-172971 - Mar. 21) (BR. 04B)

S-3D    Armour Residential REIT, Inc., 3001 OCEAN DRIVE, SUITE 201, VERO BEACH, 
        FL, 32963, (772) 617-4340 - 4,000,000 ($29,000,000.00) Equity, 
         (File 333-172972 - Mar. 21) (BR. 08B)

S-4     NBTY INC, 90 ORVILLE DR, BOHEMIA, NY, 11716, 5165679500 - 
        0 ($650,000,000.00) Debt, (File 333-172973 - Mar. 21) (BR. 01B)

S-8     NORTHEAST BANCORP /ME/, 500 CANAL ST, LEWISTON, ME, 04240-6594, 
        2077863245 - 10,500 ($152,250.00) Equity, (File 333-172974 - Mar. 21) 
        (BR. 07C)

S-11    Colony Financial, Inc., C/O COLONY FINANCIAL, INC., 
        2450 BROADWAY, 6TH FLOOR, SANTA MONICA, CA, 90404, 310-282-8820 - 
        0 ($287,500,000.00) Equity, (File 333-172975 - Mar. 21) (BR. 08C)

S-8     Todays Alternative Energy Corp, 1161 JAMES ST, ., HATTIESBURG, MS, 
        39403, 888-262-1600 - 25,000,000 ($87,500.00) Equity, 
        (File 333-172976 - Mar. 21) (BR. 06C)

F-1     Elster Group SE, FRANKENSTRASSE 362, ESSEN, 2M, D-45133, 
        0114920154580 - 0 ($302,864,000.00) Equity, (File 333-172977 - Mar. 21)
         (BR. 10A)

        2148713555 - 0 ($2,883,493,510.00) Equity, (File 333-172978 - Mar. 21)
         (BR. 04C)

        77056, 832-369-6986 - 42,804,675 ($288,503,509.50) Equity, 
        (File 333-172979 - Mar. 21) (BR. 04C)

S-11    Apollo Residential Mortgage, Inc., C/O APOLLO GLOBAL MANAGEMENT, LLC, 
        9 WEST 57TH STREET, 43RD FLOOR, NEW YORK, NY, 10019, 2125153200 - 
        0 ($300,000,000.00) Equity, (File 333-172980 - Mar. 21) (BR. )

        23060, 8042175830 - 5,000,000 ($51,950,000.00) Equity, 
        (File 333-172981 - Mar. 21) (BR. 08A)

S-3     Resolute Energy Corp, 1675 BROADWAY, SUITE 1950, DENVER, CO, 80202, 
        303-573-4886 - 0 ($500,000,000.00) Unallocated (Universal) Shelf, 
        (File 333-172982 - Mar. 21) (BR. 04A)

        94404, 650-532-2400 - 0 ($5,613,174.00) Equity, (File 333-172983 - 
        Mar. 21) (BR. 03A)

Recent 8K Filings

Form 8-K is used by companies to file current reports on the following events:


Entry into a Material Definitive Agreement


Termination of a Material Definitive Agreement


Bankruptcy or Receivership


Completion of Acquisition or Disposition of Assets


Results of Operations and Financial Condition


Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant


Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement


Cost Associated with Exit or Disposal Activities


Material Impairments


Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing


Unregistered Sales of Equity Securities


Material Modifications to Rights of Security Holders


Changes in Registrant's Certifying Accountant


Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review


Changes in Control of Registrant


Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer


Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year


Temporary Suspension of Trading Under Registrant's Employee Benefit Plans


Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics


Change in Shell Company Status


ABS Informational and Computational Material.


Change of Servicer or Trustee.


Change in Credit Enhancement or Other External Support.


Failure to Make a Required Distribution.


Securities Act Updating Disclosure.


Regulation FD Disclosure


Other Events


Financial Statements and Exhibits

8-K reports may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.

NAME OF ISSUER                          CODE     8K ITEM NO.          DATE        COMMENT

3D SYSTEMS CORP                         DE       1.01,9.01            03/17/11

5Barz International, Inc.                        1.01                 02/18/11

ADAMS RESOURCES & ENERGY, INC.          DE       2.02                 12/31/10

ADINO ENERGY CORP                       MT       5.02,9.01            03/15/11

AFFIRMATIVE INSURANCE HOLDINGS INC      DE       5.02,9.01            03/18/11

AGL RESOURCES INC                       GA       1.01,2.03,7.01,9.01  03/16/11

AIR PRODUCTS & CHEMICALS INC /DE/       DE       5.07                 03/17/11    AMEND

ALASKA COMMUNICATIONS SYSTEMS GROUP I   DE       5.02,9.01            03/16/11

Altra Holdings, Inc.                    DE       3.01                 03/18/11

AMBAC FINANCIAL GROUP INC               DE       7.01                 03/18/11

American Casino & Entertainment Prope   DE       2.02,9.01            03/21/11

American Liberty Petroleum Corp.        NV       1.02,9.01            03/18/11

AMERICAN ORIENTAL BIOENGINEERING INC    CO       2.02,8.01,9.01       03/14/11

American Reprographics CO               DE       5.02,9.01            03/21/11

American Standard Energy Corp.          DE       5.02,9.01            03/16/11

AMERICAN TOWER CORP /MA/                DE       7.01,9.01            03/21/11

AMERIPRISE CERTIFICATE CO               DE       4.01,9.01            03/15/11

AMERISAFE INC                           TX       7.01,9.01            03/21/11

AMP Holding Inc.                        NV       1.01,3.02,9.01       12/03/10    AMEND

AMPAL-AMERICAN ISRAEL CORP              NY       2.02,7.01,9.01       03/21/11

Anacor Pharmaceuticals Inc              DE       1.01,1.02,2.03,3.02, 03/18/11

API Technologies Corp.                  DE       1.01,3.02,9.01       03/18/11

Applied Natural Gas Fuels, Inc.         NV       1.01,2.03,9.01       03/18/11

ARRIS GROUP INC                         DE       5.02,9.01            03/15/11

Ascent Media CORP                       DE       5.02                 03/15/11

ASSURED GUARANTY LTD                    D0       2.02,7.01,9.01       03/21/11

AT&T INC.                               DE       7.01,8.01,9.01       03/20/11

AT&T INC.                               DE       1.01,3.02,9.01       03/20/11

Atlas Energy, L.P.                      DE       5.02                 03/15/11

Axcan Intermediate Holdings Inc.        DE       8.01                 03/15/11

BankFinancial CORP                               8.01,9.01            03/18/11

BARK GROUP INC                          NV       5.02,9.01            03/15/11

BEL FUSE INC /NJ                        NJ       7.01,8.01,9.01       03/21/11

BELL INDUSTRIES INC /NEW/               CA       1.01,1.02,2.03,3.03, 03/21/11

BERKSHIRE INCOME REALTY INC                      5.02                 03/21/11

BIODELIVERY SCIENCES INTERNATIONAL IN   DE       8.01,9.01            03/21/11

Bitstream Inc.                          DE       2.02,9.01            03/21/11

BLONDER TONGUE LABORATORIES INC         DE       2.02,9.01            03/21/11

BLUE VALLEY BAN CORP                    KS       2.02,7.01,9.01       03/21/11

BOVIE MEDICAL CORP                      DE       5.02,5.03,9.01       03/15/11

Bridgeline Digital, Inc.                DE       5.07                 03/18/11

BROADCOM CORP                           CA       8.01,9.01            03/18/11

BRT REALTY TRUST                        MA       1.01,2.01            03/18/11

CAVIUM NETWORKS, INC.                   DE       1.01,9.01            03/17/11

CCA INDUSTRIES INC                      DE       1.02,5.02,8.01,9.01  03/21/11

Celera CORP                             DE       1.01                 03/17/11

CENTERPOINT ENERGY INC                           8.01,9.01            03/18/11

Chelsea Therapeutics International, L   DE       5.05,8.01            03/18/11

CHEMUNG FINANCIAL CORP                  NY       5.02,9.01            03/16/11

CHINA AUTOMOTIVE SYSTEMS INC            DE       3.01,9.01            03/21/11

China BCT Pharmacy Group, Inc.          DE       5.02                 03/17/10

China Century Dragon Media, Inc.        DE       5.02                 03/15/11

CHINA FIRE & SECURITY GROUP, INC.                2.02,7.01,9.01       03/21/11

CHINA GREEN MATERIAL TECHNOLOGIES, IN   NV       4.02,7.01,9.01       03/21/11

China Wind Systems, Inc                 DE       7.01,9.01            03/15/11

CHURCHILL DOWNS INC                     KY       5.02,5.03,9.01       03/18/11

CITIGROUP INC                           DE       8.01,9.01            03/21/11

Clearwire Corp /DE                      DE       3.01                 03/17/11

COAST DISTRIBUTION SYSTEM INC           DE       5.02,9.01            03/15/11

CODEXIS INC                                      1.01,2.03            03/16/11

COLONIAL COMMERCIAL CORP                NY       1.01,2.03,9.01       03/15/11

Colony Financial, Inc.                  MD       8.01                 03/18/11

COLUMBIA SPORTSWEAR CO                  OR       5.03,9.01            03/16/11

CONCUR TECHNOLOGIES INC                 DE       5.02,5.07            03/15/11

CONSOLIDATED GRAPHICS INC /TX/          TX       7.01,9.01            03/21/11

Cooper-Standard Holdings Inc.           DE       2.02,7.01,9.01       03/21/11

Cord Blood America, Inc.                FL       2.03,2.04,9.01       03/21/11

CORE MOLDING TECHNOLOGIES INC           DE       2.02,9.01            03/21/11

CORRECTIONS CORP OF AMERICA             MD       5.02                 03/16/11

CORTEX PHARMACEUTICALS INC/DE/          DE       1.01,1.02,2.01,9.01  03/15/11

CORTS TRUST FOR WEYERHAEUSER DEBENTUR   DE       8.01,9.01            03/15/11

Crestwood Midstream Partners LP         DE       8.01,9.01            03/21/11

Crestwood Midstream Partners LP         DE       7.01,9.01            03/21/11

CreXus Investment Corp.                 MD       1.01,9.01            03/18/11

CRIMSON EXPLORATION INC.                         2.02,9.01            03/21/11

CROSS TIMBERS ROYALTY TRUST             TX       2.02,9.01            03/21/11

CROWN CASTLE INTERNATIONAL CORP         DE       7.01,9.01            03/21/11

CURIS INC                               DE       8.01,9.01            03/21/11

Cyalume Technologies Holdings, Inc.     DE       1.01,3.02,8.01,9.01  03/18/11

DAWSON GEOPHYSICAL CO                   TX       1.01,5.02,5.03,8.01, 03/20/11

Delek US Holdings, Inc.                          1.01,7.01,9.01       03/17/11

Denarii Resources Inc.                  NV       1.01,3.02,9.01       10/21/10

diaDexus, Inc.                          DE       2.02,9.01            03/21/11

DIVERSEY HOLDINGS, INC.                 DE       5.02,5.07            03/17/11

DUOYUAN PRINTING, INC.                  WY       8.01                 03/21/11

Dutch Gold Resources Inc                CO       4.01,9.01            03/20/11

EASTMAN KODAK CO                        NJ       1.01,2.03,8.01,9.01  03/15/11

EMAGIN CORP                             DE       5.02                 03/15/11

ENSURGE INC                             NV       4.02,9.01            03/17/11

ENTERPRISE BANCORP INC /MA/             MA       5.02,9.01            03/15/11

EPOD Solar Inc.                                  1.01,3.03,9.01       03/21/11

EQM Technologies & Energy, Inc.         DE       1.01,2.03,3.02,8.01, 03/15/11

EXPLORE ANYWHERE HOLDING CORP           NV       2.01,3.02,5.06,9.01  02/04/01    AMEND

FEDERAL MOGUL CORP                      DE       7.01,9.01            03/18/11

Feihe International Inc                 UT       2.02,9.01            03/21/11

FERRELLGAS PARTNERS L P                 DE       7.01,9.01            03/18/11

Fifth Street Finance Corp               DE       8.01,9.01            03/21/11

First American Financial Corp           DE       5.02,9.01            03/15/11

First Federal of Northern Michigan Ba            2.02,9.01            03/21/11

FIRST SOLAR, INC.                       DE       5.02                 03/15/11

FIRSTCITY FINANCIAL CORP                DE       5.02                 03/15/11

Flagstone Reinsurance Holdings, S.A.             7.01,9.01            03/21/11

FORCE PROTECTION INC                    NV       7.01,9.01            03/09/11

FOSTER L B CO                           PA       5.02,9.01            03/21/11

FRONTIER OIL CORP /NEW/                 WY       8.01                 03/18/11

FUSION TELECOMMUNICATIONS INTERNATION   DE       1.01,2.03            03/18/11

Geeknet, Inc                            DE       5.02                 03/21/11

Geeknet, Inc                            DE       5.02                 03/15/11

General Motors Co                                5.03,9.01            03/15/11

Genpact LTD                             D0       5.02,9.01            03/15/11

GEORGIA GULF CORP /DE/                  DE       4.01,9.01            03/15/11

GLOBAL GOLD CORP                        DE       1.01,9.01            03/17/11

Global Immune Technologies Inc.         WY       9.01                 03/21/11

GLOBAL POWER EQUIPMENT GROUP INC.       DE       2.02,7.01,9.01       03/21/11

Globalstar, Inc.                        DE       1.01,8.01,9.01       03/16/11

GOLDMAN SACHS GROUP INC                 DE       9.01                 03/21/11

GRAN TIERRA ENERGY, INC.                NV       2.01,3.02,9.01       03/18/11

GRANITE CITY FOOD & BREWERY LTD         MN       1.01,9.01            03/15/11

GREEN DOT CORP                          DE       5.02                 03/16/11

GRUBB & ELLIS CO                        DE       5.02,8.01,9.01       03/15/11

Grubb & Ellis Healthcare REIT II, Inc   MD       7.01,9.01            03/17/11

GSE SYSTEMS INC                         DE       1.01                 03/21/11

GSE SYSTEMS INC                         DE       9.01                 03/21/11    AMEND

GULFMARK OFFSHORE INC                   DE       5.02,9.01            03/15/11

HANCOCK HOLDING CO                      MS       9.01                 03/21/11

HANCOCK HOLDING CO                      MS       8.01,9.01            03/21/11

Harbin Electric, Inc                             2.02,9.01            03/17/11

HASTINGS ENTERTAINMENT INC              TX       2.02,9.01            03/21/11

HCP, INC.                               MD       5.02,7.01,9.01       03/21/11

Heelys, Inc.                            DE       5.02,9.01            02/17/11    AMEND

Heritage-Crystal Clean, Inc.            DE       1.01,2.03            03/15/11

Hillenbrand, Inc.                       IN       7.01,9.01            03/21/11

Hilltop Holdings Inc.                   MD       1.01,8.01,9.01       03/20/11

HOLLY CORP                              DE       8.01                 03/18/11

HOT TOPIC INC /CA/                      CA       5.02,9.01            03/16/11

HUGOTON ROYALTY TRUST                   TX       2.02,9.01            03/21/11

HUNTINGTON BANCSHARES INC/MD            MD       8.01,9.01            03/21/11

Hyatt Hotels Corp                       DE       5.02,9.01            03/16/11

IASIS Healthcare LLC                    DE       7.01,9.01            03/21/11

ILLINOIS TOOL WORKS INC                 DE       2.02,9.01            03/21/11

INSMED INC                              VA       8.01,9.01            03/17/11

INTEL CORP                              DE       7.01                 03/16/11

Intellect Neurosciences, Inc.           DE       3.02                 03/14/11

INTERLEUKIN GENETICS INC                DE       2.02,9.01            03/21/11

IPAYMENT INC                            DE       2.02,9.01            03/21/11

IRVINE SENSORS CORP/DE/                 DE       1.01,2.03,3.02,3.03, 03/16/11

James River Coal CO                     VA       8.01,9.01            03/21/11

JO-ANN STORES INC                       OH       2.01,3.01,5.01,5.02, 03/18/11

John Bean Technologies CORP             DE       7.01,9.01            03/18/11

KAMAN CORP                              CT       7.01,9.01            03/21/11

KAMAN CORP                              CT       7.01,9.01            03/21/11

Kohlberg Capital CORP                   DE       8.01,9.01            03/21/11

Lantheus Medical Imaging, Inc.          DE       1.01,2.03,3.03,9.01  03/21/11

Li3 Energy, Inc.                        NV       3.02,3.03,5.03,5.07, 03/15/11

Liberty Global, Inc.                             7.01                 03/21/11

LTC PROPERTIES INC                      MD       7.01,9.01            03/21/11

LUBRIZOL Corp                           OH       8.01,9.01            03/17/11

MACATAWA BANK CORP                      MI       5.05,9.01            03/17/11

MAGNUM HUNTER RESOURCES CORP            DE       8.01,9.01            03/21/11

Magyar Bancorp, Inc.                    DE       5.07,9.01            03/16/11

MAINLAND RESOURCES INC.                          7.01,9.01            03/21/11

Majestic Capital, Ltd.                           1.01,8.01,9.01       03/18/11

MATCHES, INC.                           NV       1.01,2.01,4.01,5.01, 12/17/10    AMEND

MAXIMUS INC                             VA       5.07                 03/18/11

MAXLINEAR INC                                    5.02,9.01            03/16/11

MEMSIC Inc                                       5.02                 03/16/11

MetaMorphix Inc.                        MD       1.03,8.01,9.01       03/18/11

METLIFE INC                             DE       5.02,8.01            03/21/11

MIDAS INC                               DE       2.02,7.01            03/03/11    AMEND

MILLER PETROLEUM INC                    TN       7.01,9.01            03/21/11

MIMVI, INC.                             NV       5.02                 03/15/11

MMAX MEDIA, INC.                        NV       2.01,3.02,4.01,5.01, 03/16/11

MOOG INC                                NY       1.01,2.03,9.01       03/18/11

Mueller Water Products, Inc.            DE       7.01,9.01            03/21/11

Natural Resources USA Corp                       5.01,8.01,9.01       03/15/11

NETWORK CN INC                          DE       7.01,8.01,9.01       03/18/11

NEW ENERGY TECHNOLOGIES, INC.                    5.03,7.01,9.01       03/16/11

NORFOLK SOUTHERN CORP                   VA       7.01,8.01            03/21/11

Northfield Bancorp, Inc.                X1       5.02,9.01            03/18/11

NOVASTAR FINANCIAL INC                  MD       1.01,5.02,9.01       03/15/11

OGLETHORPE POWER CORP                   GA       7.01,9.01            03/21/11

OLD SECOND BANCORP INC                  DE       5.02                 03/15/11

OPNEXT INC                                       7.01,9.01            03/19/11

optionsXpress Holdings, Inc.            DE       1.01,9.01            03/18/11

Orion Marine Group Inc                           5.02                 03/18/11

OXIGENE INC                             DE       8.01,9.01            03/21/11

PACIFIC GAS & ELECTRIC Co               CA       8.01                 03/15/11

PC TEL INC                              DE       5.02                 03/15/11

PDI INC                                          2.02,9.01            03/21/11

PG&E CORP                               CA       8.01                 03/15/11

PivX Solutions, Inc.                    NV       5.02                 03/21/11

PLUMAS BANCORP                          CA       1.01,9.01            03/18/11

PLY GEM HOLDINGS INC                    DE       2.02,9.01            03/21/11

POWERWAVE TECHNOLOGIES INC              DE       5.02,5.03,7.01,9.01  03/18/11

PROGRESS ENERGY INC                     NC       5.02,9.01            03/15/11

PVF CAPITAL CORP                        OH       8.01                 03/21/11

RAIT Financial Trust                    MD       1.01,9.01            03/15/11

RANCHER ENERGY CORP.                    NV       2.01,9.01            03/16/11

RCLC, INC.                              NJ       7.01,9.01            03/16/11

RED METAL RESOURCES, LTD.                        8.01,9.01            03/21/11

Resource Real Estate Opportunity REIT   MD       8.01                 03/15/11

ROYAL BANCSHARES OF PENNSYLVANIA INC    PA       5.02                 03/16/11

SABA SOFTWARE INC                       DE       5.02,5.07,9.01       03/18/11

SAN JUAN BASIN ROYALTY TRUST            TX       2.02,9.01            03/21/11

SANDERS MORRIS HARRIS GROUP INC         TX       2.02,7.01,9.01       03/15/11

SBA COMMUNICATIONS CORP                 FL       7.01                 03/21/11

SBT Bancorp, Inc.                       CT       5.02                 03/16/11

SCHWAB CHARLES CORP                     DE       8.01,9.01            03/18/11

SCHWAB CHARLES CORP                     DE       1.01,9.01            03/18/11

SeaCube Container Leasing Ltd.                   1.01,2.03,9.01       03/15/11

SHILOH INDUSTRIES INC                   DE       5.07                 03/16/11

Shire plc                                        8.01,9.01            03/21/11

SHUTTERFLY INC                          DE       1.01,3.02,7.01,9.01  03/21/11

SINOHUB, INC.                           DE       1.01,9.01            03/16/11

SOLAR ENERTECH CORP                     DE       2.04                 03/15/11

Solar Power, Inc.                       CA       5.02,9.01            03/18/11

SOLERA HOLDINGS, INC                    DE       5.02,9.01            03/15/11

Soltera Mining Corp.                    NV       3.02,7.01,9.01       03/16/11

SOUTHWEST GAS CORP                      CA       5.02                 03/21/11

SPARTECH CORP                           DE       5.07                 03/17/11

SPECTRUM GROUP INTERNATIONAL, INC.      NY       9.01                 03/21/11    AMEND

SPEEDWAY MOTORSPORTS INC                DE       1.02,2.03,8.01       03/16/11

SPHERIX INC                             DE       1.01,9.01            03/16/11

STANDARD CAPITAL CORP                   DE       1.01                 03/15/11

STERIS CORP                             OH       8.01                 03/18/11

STRATEGIC AMERICAN OIL CORP             NV       4.02                 03/16/11

STRUCTURED PROD CORTS TR II FOR PROVI   DE       8.01,9.01            03/15/11

STRUCTURED PRODUCTS CORP CORTS FOR PR   DE       8.01,9.01            03/15/11

STRUCTURED PRODUCTS CORP CORTS TR III   DE       8.01,9.01            03/15/11

STRUCTURED PRODUCTS CORP CORTS TRUST    DE       8.01,9.01            03/15/11

Summit Growth CORP                      E9       1.01,2.01,3.02,4.01,
                                                 5.01,5.02,5.06,9.01  03/15/11

SUNRISE REAL ESTATE GROUP INC           TX       1.01,3.02            03/16/11

SUNRISE REAL ESTATE GROUP INC           TX       1.01,3.02            03/18/11

SUNRISE REAL ESTATE GROUP INC           TX       5.02,9.01            03/17/11

SUPERIOR BANCORP                        DE       5.02,7.01,9.01       03/15/11

SupportSave Solutions Inc                        7.01,9.01            03/16/11

SWS GROUP INC                           DE       1.01,2.03,3.02,7.01, 03/20/11

SWS GROUP INC                           DE       5.03,9.01            03/17/11

TC Power Management Corp.                        1.01,2.01,3.02,5.01, 03/21/11    AMEND

TechMedia Advertising, Inc.             NV       4.01,9.01            07/07/10    AMEND

TELEPHONE & DATA SYSTEMS INC /DE/       DE       8.01,9.01            03/21/11

TFS Financial CORP                      DE       5.02                 03/17/11

TGC INDUSTRIES INC                      TX       1.01,8.01,9.01       03/20/11

TIANYIN PHARMACEUTICAL CO., INC.        DE       5.07                 03/21/11

TIFFANY & CO                            DE       2.02,9.01            03/21/11

TIFFANY & CO                            DE       1.01,8.01,9.01       03/21/11

TRANSUNION CORP.                                 7.01,9.01            03/21/11

Tree.com, Inc.                          DE       1.01,9.01            03/15/11

Two Harbors Investment Corp.                     7.01                 03/21/11

TYCO INTERNATIONAL LTD                  V8       8.01,9.01            03/21/11

UNISOURCE ENERGY CORP                   AZ       5.02                 03/16/11

United Continental Holdings, Inc.       DE       7.01,9.01            03/21/11

United States Oil Fund, LP              DE       8.01                 03/21/11

UNITED STATIONERS INC                   DE       5.02,9.01            03/21/11

UNIVERSAL DISPLAY CORP \PA\             PA       5.02,8.01,9.01       01/06/11

US NATURAL GAS CORP                     FL       8.01,9.01            03/16/11

USD ENERGY CORP.                        NV       1.01,9.01            02/02/11

Velvet Rope Special Events, Inc.        DE       8.01                 03/21/11

VENTRUS BIOSCIENCES INC                 DE       9.01                 03/18/11    AMEND

Verigy Ltd.                             U0       8.01,9.01            03/21/11

Vestin Realty Mortgage I, Inc.                   4.02                 03/18/11

Vestin Realty Mortgage II, Inc          MD       4.02                 03/18/11

Vishay Precision Group, Inc.            DE       5.02                 03/15/11

Warner Chilcott plc                              1.01,2.03,7.01,9.01  03/17/11

WATSCO INC                              FL       7.01,9.01            03/21/11

WILLIAM LYON HOMES                      DE       1.01,9.01            03/18/11

WILLIS GROUP HOLDINGS PLC               L2       7.01,9.01            03/21/11

WILSHIRE BANCORP INC                             2.02,9.01            03/16/11

WINN DIXIE STORES INC                   FL       1.01,2.03,9.01       03/18/11

XENOPORT INC                            DE       8.01                 03/21/11

XERIUM TECHNOLOGIES INC                 DE       5.02                 03/15/11

Xzeres Wind Corp.                       NV       3.02,7.01            03/21/11

Z TRIM HOLDINGS, INC                    IL       1.01,3.02            03/17/11

ZHONGPIN INC.                           DE       1.01,7.01,9.01       03/16/11

ZIPREALTY INC                                    5.02                 03/05/11



Modified: 03/22/2011