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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2011-179
September 15, 2011

Commission Announcements

SEC Charges Former Consulting Executive and Friend With Insider Trading Ahead of Biotech Takeovers

The Securities and Exchange Commission today charged a former global consulting firm executive and his friend who once worked on Wall Street with insider trading on confidential information about impending takeovers of two biotechnology companies.

The SEC alleges that Scott Allen learned confidential information in advance of the acquisitions of Millennium Pharmaceuticals Inc. and Sepracor Inc. through his work at a global consulting firm that was advising the acquiring Japanese companies as they made cash tender offers.  Allen allegedly tipped his longtime friend John Michael Bennett, an independent filmmaker who had previously worked at a Wall Street investment bank, as each acquisition took shape.  On the basis of the nonpublic information, Bennett purchased thousands of dollars in call options in the companies and also tipped his business partner at the independent film company they co-own.  The insider trading by Bennett and his tippee generated more than $2.6 million in illicit profits.  Allen received cash from Bennett in exchange for the tips. 

In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced the unsealing of criminal charges against Allen and Bennett.

“Allen sold his clients’ secret information to a dear friend for easy cash, thinking they wouldn’t get caught,” said George S. Canellos, Director of the SEC’s New York Regional Office.  “We will continue pursue every angle of investigation to uncover and punish this type of betrayal of trust.”

According to the SEC’s complaint filed in federal court in Manhattan, Allen and Bennett have been close friends for more than 15 years.  Their scheme allegedly began in February 2008 as Allen first learned about the Millennium transaction through his work at the consulting firm, where he is no longer employed.  Allen communicated with Bennett about the Millennium and Sepracor transactions through either phone calls or in-person meetings, some of which are tracked through their simultaneous use of Metrocards at subway stations in New York City and ATM withdrawals of cash made by Bennett prior to those meetings.

The SEC alleges that Allen first obtained nonpublic information about the Millennium transaction in mid-February 2008 when his firm began advising Japan-based Takeda Pharmaceutical Company during its negotiations with Millennium.  Allen tipped Bennett with inside information concerning Takeda’s impending cash tender offer to acquire Millennium’s shares.  For instance, after Allen received an evening e-mail on February 27 from a Takeda representative stating that the contemplated offer was for “23, potentially 24 per share,” he called Bennett just minutes later and then twice again that evening.  Bennett then called his business partner.  More calls took place the following day, and then on February 29 and continuing up until the week prior to the April 10 public announcement of the acquisition, Bennett and his business partner began amassing Millennium call options.  The price of Millennium shares increased more than 48 percent after the public announcement, and beginning that afternoon Bennett and his business partner sold their entire positions of Millennium call options for ill-gotten gains of more than $602,000 and $1.12 million respectively. 

According to the SEC’s complaint, Allen later was participating in his employer’s due diligence work in May 2009 for Japanese firm Dainippon Sumitomo Pharma Co. Ltd. (DSP) in connection with its impending acquisition of Sepracor.  Allen again tipped Bennett with inside information about the upcoming transaction.  In the months leading up to the September 3 public announcement that DSP had agreed to acquire Sepracor through a cash tender offer, Bennett purchased thousands of dollars worth of call options in Sepracor and again tipped his business partner who did the same.  Following the public announcement, Sepracor’s stock price rose more than 26 percent.  Both Bennett and his business partner then liquidated their Sepracor holdings for ill-gotten profits of more than $516,000 and $388,000 respectively.

The SEC’s complaint names Bennett’s wife as a relief defendant for the purposes of seeking disgorgement of unlawful profits in brokerage accounts that Bennett held jointly with her.

The SEC’s complaint charges Scott Allen and John Michael Bennett with violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 14(e) of the Exchange Act and Rule 14e-3 thereunder.  The complaint seeks a final judgment permanently enjoining the defendants from future violations of these provisions of the federal securities laws and ordering them to disgorge their ill-gotten gains plus prejudgment interest and pay financial penalties.

The SEC’s investigation was conducted by Charles D. Riely and Amelia A. Cottrell of the SEC’s Market Abuse Unit in New York and Layla Mayer of the SEC’s New York Regional Office.  The SEC acknowledges the assistance of the U.S. Attorney’s Office for the Southern District of New York, Federal Bureau of Investigation, and Options Regulatory Surveillance Authority.

The SEC’s investigation is continuing. 

For more information about this enforcement action, contact: George S. Canellos, Director, New York Regional Office, (212) 336-1020 or Sanjay Wadhwa, Associate Director, New York Regional Office and Deputy Chief, Market Abuse Unit at (212) 336-0181. (Press Rel. 2011-183)

Rules and Related Matters

Implementation and Amendment of Exemptions

The Commission issued a final rule to exempt portions of three new systems of records, “Tips, Complaints, and Referrals (TCR) Records (SEC-63)”, “SEC Security in the Workplace Incident Records (SEC-64)”, and “Investor Response Information System (IRIS) (SEC-65)”, from provisions of the Privacy Act to the extent that the records contain investigatory materials compiled for law enforcement purposes; and to make technical amendments to its inventory of exempted systems of records. Publication is expected in the Federal Register during the week of September 19. (Rel. PA-47)

Enforcement Proceedings

In the Matter of Gregory S. Schaefer

An Administrative Law Judge has issued an Order Making Findings and Imposing Remedial Sanctions by Default (Default Order) in Gregory S. Schaefer, Admin. Proc. No. 3-14435. The Order Instituting Proceedings (OIP) alleged that Respondent Gregory S. Schaefer (Schaefer) made misrepresentations to investors and diverted proceeds of three unregistered securities offerings to enrich himself and others. The OIP further stated that, on July 12, 2010, the U.S. District Court for the Southern District of New York entered a final judgment by default against Schaefer, permanently enjoining him from future violations, and from aiding and abetting future violations, of several antifraud provisions of the federal securities laws.

The Default Order finds the allegations of the OIP to be true and concludes that, pursuant to Section 15(b)(6)(A) of the Securities Exchange Act of 1934, it is in the public interest to bar Schaefer from association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, and nationally recognized statistical rating organization. (Rel. 34-65278; File No. 3-14435)

In the Matter of Wayne A. Pratt, CPA

On September 14, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Wayne A. Pratt, CPA.  The Order finds that Pratt is a certified public accountant licensed in the State of Arizona, and was the Chief Financial Officer of Syntax-Brillian Corporation from at least November 2005 through September 2007.

The Order further finds that on September 1, 2011, a final judgment was entered against Pratt, by consent, enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act) and Exchange Act Rules 10b-5, 13a-14, 13b2-1, and 13b2-2, and aiding and abetting violations of Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 10b-5, 12b-20, 13a-1, 13a-11, and 13a-13, and ordering him to pay disgorgement of $88,000 representing his executive bonus compensation received while participating in the fraud, $17,000 in prejudgment interest, and a $90,000 civil money penalty.

Based on the above, the Order suspends Wayne A. Pratt from appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after a period of five years.  Pratt consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction.  (Rel. 34-65340; AAE Rel. 3320; File No. 3-14549)

In the Matter of James Davis Risher

On September 14, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940 and Notice of Hearing (Order) against James Davis Risher based upon his guilty plea before the United States District Court for the Middle District of Florida in the criminal action entitled United States v. James Davis Risher, Case No. 8:11-CR-343-T-23TGW.

In the Order, the Division of Enforcement alleges that on September 9, 2011, Risher pled guilty to one count of mail fraud, one count of money laundering, and one count of engaging in an illegal monetary transaction. The counts of the criminal information alleged, among other things, that Risher defrauded investors and obtained money and property by means of materially false and misleading statements which caused investors to invest their funds with him in a purported private equity fund.

A hearing will be scheduled before an Administrative Law Judge to determine whether the allegations contained in the Order are true, and to provide the Respondent an opportunity to dispute these allegations, and to determine what, if any, remedial sanctions are appropriate and in the public interest.

The Order requires the Administrative Law Judge to issue an initial decision no later than 210 days from the date of service of this Order, pursuant to Rule 360(a)(2) of the Commission’s Rules of Practice. (Rel. IA-3278; File No. 3-14550)

Final Judgment of Disgorgement, Prejudgment Interest and Civil Penalty Entered Against Defendant Donald R. McKelvey

The Commission announced that on July 26, 2011, the United States District Court for the Middle District of Florida entered a final judgment of disgorgement, prejudgment interest and civil penalty against Defendant Donald R. McKelvey. The final judgment orders McKelvey to pay disgorgement in the amount of $266,780, prejudgment interest in the amount of $127,711.82, and imposes a civil penalty of $50,000. Previously, on January 6, 2011 the Court entered a judgment of permanent injunction and other relief against McKelvey.

The Commission began this action by filing its complaint on June 5, 2009, against Wall Street Communications, Inc., Howard Scala, Ross Barall, and McKelvey, charging them with securities fraud in connection with a series of stock manipulation schemes and a fraudulent, unregistered distribution of stock. [SEC v. Wall Street Communications, Inc., et al., Civil Action No. 8:09-CV-1046-JSM-TGW (M.D. Fla.)] (LR-22091)

SEC Files Injunctive Action Against James O’Reilly, James P. Mcaluney, and Martin Cutler

The Securities and Exchange Commission announced the filing of a complaint in federal district court against James O’Reilly (O’Reilly), James P. McAluney (McAluney), and Martin Cutler (Cutler) (collectively, “Defendants”). The complaint alleges that O’Reilly, McAluney, and Cutler were the managers and control persons involved in a series of fraudulent and unregistered offerings in Shale Synergy, LLC (Shale), Shale Synergy II, LLC (Shale II), and Ranch Rock Properties, LLC (Ranch Rock).

The Complaint alleges that from at least December 2007 until July 2009, Defendants solicited funds from investors through a series of Rule 506 Regulation D offerings of membership interests in Shale, Shale II and Ranch Rock.  The Defendants raised approximately $16 million from about 130 investors.  The companies were to generate returns of from 7.5% to 9% a quarter from investments in oil and gas interests purchased by Shale, Shale II and Ranch Rock.  However, instead of purchasing oil & gas assets, approximately $13 million of the funds raised from investors were transferred to Joseph S. Blimline (Blimline) and various Blimline-controlled entities. Throughout Defendants’ solicitations, Blimline acted as a secret partner. Defendants never disclosed Blimline’s involvement and control, or his past securities disciplinary action to investors. 

According to the Commission’s complaint filed in U.S. District Court for the Eastern District of Texas, the Defendants falsely represented to investors that Shale would acquire the promissory notes issued by two Blimline entities and acquire substantially all of the entities’ underlying assets. The Complaint alleges that, the defendants failed to disclose that investor funds of Shale, Shale II, and Ranch Rock would be commingled to pay expenses, and that Blimline would be making all investment decision.

The Complaint further alleges that although Shale failed to make its December 2008 investor distributions, the Defendants continued to solicit investors for Shale II and Ranch Rock without disclosing the financial difficulties at Shale.

The Commission’s complaint seeks to enjoin the defendants from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and civil penalties. [SEC v. James O’Reilly, James P. McAluney, and Martin Cutler, Case No. 4:11-cv-592 (E.D. Texas)] (LR-22092)

Investment Company Act Releases

Golub Capital BDC, Inc., et al.

An order has been issued on an application filed by Golub Capital BDC, Inc. (Company), et al. for an order under Section 6(c) of the Investment Company Act for an exemption from Sections 18(a) and 61(a) of the Act. The order permits the Company to adhere to a modified asset coverage requirement. (Rel. IC-29786 - September 13)

Investment Managers Series Trust, et al.

A notice has been issued giving interested persons until October 11, 2011, to request a hearing on an application filed by Investment Managers Series Trust, et al., for an order exempting applicants from Section 15(a) of the Investment Company Act and Rule 18f-2 under the Act. The order would permit the applicants to enter into and materially amend subadvisory agreements without shareholder approval and would grant relief from certain disclosure requirements. (Rel. IC-29787 - September 13)

Self-Regulatory Organizations

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by EDGA Exchange, Inc. (SR-EDGA-2011-30) to amend EDGA By-Laws to, among other things, provide the Nominating Committee with additional responsibilities, has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of September 19. (Rel. 34-65328)

A proposed rule change filed by EDGX Exchange, Inc. (SR-EDGX-2011-29) to amend EDGX By-Laws to, among other things, provide the Nominating Committee with additional responsibilities, has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of September 19. (Rel. 34-65329)

A proposed rule change filed by NASDAQ OMX BX, Inc. (SR-BX-2011-064) to amend the BOX Fee Schedule has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of September 19. (Rel. 34-65337)

Proposed Rule Change

The Options Clearing Corporation (OCC) filed a proposed rule change (SR-OCC-2011-12) under Section 19(b)(1) of the Securities Exchange Act of 1934 to adopt fitness standards for directors, clearing members, and others. Publication is expected in the Federal Register during the week of September 19. (Rel. 34-65338)

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     EYES ON THE GO, INC., 60 BROADWAY, PH 12, BROOKLYN, NY, 11211, 
        908-229-4933 - 0 ($273,529.31) Equity, (File 333-176820 - Sep. 14) 
        (BR. 09)

S-8     Writers Group Film Corp, 8200 WILSHIRE BLVD., SUITE 200, BEVERLY HILLS, 
        CA, 90211, 310-461-3737 - 2,750,000 ($22,000.00) Equity, 
        (File 333-176822 - Sep. 14) (BR. 05B)

S-8     HEMACARE CORP /CA/, 15350 SHERMAN WAY, SUITE 350, VAN NUYS, CA, 91406, 
        818-226-1968 - 1,000,000 ($300,000.00) Equity, (File 333-176823 - 
        Sep. 14) (BR. 09A)

        90503, 3109724015 - 0 ($150,000,000.00) Equity, (File 333-176824 - 
        Sep. 14) (BR. 10B)

        480-821-5000 - 400,000,000 ($400,000,000.00) Non-Convertible Debt, 
        (File 333-176825 - Sep. 14) (BR. 10A)

        417-829-5878 - 0 ($0.00) Non-Convertible Debt, (File 333-176829 - 
        Sep. 14) (BR. 02C)

        IL, 60631, 7733998900 - 0 ($342,000,000.00) Debt, (File 333-176833 - 
        Sep. 14) (BR. 11A)

        FL, 33326, (847) 386-1384 - 5,000,000 ($500,000.00) Equity, 
        (File 333-176834 - Sep. 14) (BR. 10A)

        CHICAGO, IL, 60602, 3126301900 - 0 ($0.00) Debt, (File 333-176835 - 
        Sep. 14) (BR. 11A)

S-1     Massive Dynamics, Inc., 320 OTERO, NEWPORT BEACH, CA, 92660, 
        310-200-5199 - 530,000 ($53,000.00) Equity, (File 333-176836 - Sep. 14) 
        (BR. 07)

        8165562200 - 3,000,000 ($56,205,000.00) Equity, (File 333-176840 - 
        Sep. 14) (BR. 02B)

S-11    Ares Commercial Real Estate Corp, TWO NORTH LASALLE STREET, STE 925, 
        CHICAGO, IL, 60602, 312.324.5900 - 0 ($250,000,000.00) Equity, 
        (File 333-176841 - Sep. 14) (BR. )

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

21ST CENTURY HOLDING CO                 FL       5.07                 09/13/11

8X8 INC /DE/                            DE       1.01,9.01            09/11/11

A. H. Belo CORP                         DE       5.02,9.01            09/12/11

ACCENTIA BIOPHARMACEUTICALS INC                  7.01,9.01            09/14/11

ADA-ES INC                              CO       1.01,7.01,8.01,9.01  09/09/11

ALLIANCEBERNSTEIN HOLDING L.P.          DE       7.01,9.01            09/13/11

ALLIANCEBERNSTEIN L.P.                  DE       7.01,9.01            09/13/11

Ally Auto Assets LLC                    DE       1.01,8.01,9.01       09/14/11

Alto Group Holdings Inc.                NV       1.02                 09/05/11    AMEND

AMEDISYS INC                            DE       7.01,9.01            09/14/11

AMERICAN EXPRESS CO                     NY       7.01                 09/14/11

AMERICAN PUBLIC EDUCATION INC           DE       7.01                 09/14/11

American Realty Capital Properties, I   MD       8.01,9.01            09/08/11

AMERICAN VANGUARD CORP                  DE       8.01,9.01            09/14/11

AMHN, Inc.                              UT       1.01,3.02,9.01       09/08/11

Asia Carbon Industries, Inc.            MD       7.01,9.01            09/12/11

ASSOCIATED BANC-CORP                    WI       7.01,9.01            09/14/11

ATOMIC PAINTBALL INC                             3.02,5.02,9.01       08/08/11

AUTOZONE INC                            NV       1.01,2.03            09/13/11

AVIS BUDGET GROUP, INC.                 DE       7.01,9.01            09/14/11

Bancorp, Inc.                                    8.01,9.01            09/14/11

Bankrate, Inc.                          DE       5.02,9.01            09/14/11

BERKLEY W R CORP                        DE       5.07                 05/17/11    AMEND

BigBand Networks, Inc.                  DE       5.02                 09/07/11    AMEND

BIOMODA INC/NM                                   3.02,3.03,5.01,5.03, 08/22/11
Blueknight Energy Partners, L.P.        DE       3.03,5.02,5.03,5.07, 09/14/11
BLYTH INC                               DE       5.07                 06/09/11    AMEND

BODY CENTRAL CORP                                5.02                 09/08/11

Bohai Pharmaceuticals Group, Inc.       NV       4.02                 09/13/11

BOISE INC.                              DE       8.01,9.01            09/14/11

BORDERS GROUP INC                       MI       5.02                 09/09/11

BOSTON PROPERTIES INC                   DE       8.01,9.01            09/14/11

BRANDYWINE REALTY TRUST                 MD       5.07                 06/01/11    AMEND

BROADCOM CORP                           CA       8.01,9.01            09/13/11

BROWN SHOE CO INC                       NY       7.01,9.01            09/13/11

Burlington Coat Factory Investments H            7.01,9.01            09/13/11

BUTLER NATIONAL CORP                    DE       2.02,9.01            09/14/11

Cadista Holdings Inc.                   DE       5.02                 09/12/11

CAI International, Inc.                          1.01,2.03,9.01       09/09/11

CAMPBELL FUND TRUST                     DE       5.02                 09/14/11

Campbell Global Trend Fund, L.P.        DE       5.02                 09/14/11

CAMPBELL STRATEGIC ALLOCATION FUND LP   DE       5.02                 09/14/11

CAPITAL ONE FINANCIAL CORP              DE       7.01                 09/14/11

CapLease, Inc.                                   2.01,9.01            09/08/11

Caribou Coffee Company, Inc.            MN       5.02                 09/12/11

Castle Brands Inc                       FL       5.07,8.01,9.01       09/12/11

CHARMING SHOPPES INC                    PA       7.01,9.01            09/12/11

Cheniere Energy Partners, L.P.          DE       7.01,9.01            09/14/11

CHINA SECURITY & SURVEILLANCE TECHNOL   DE       5.07,8.01,9.01       09/14/11

CITADEL BROADCASTING CORP               DE       8.01                 09/13/11

Clean Energy Fuels Corp.                DE       7.01                 09/14/11

Constant Contact, Inc.                  DE       8.01                 09/09/11

Corporate Capital Trust, Inc.           MD       1.01,2.02,9.01       09/12/11

Crystal Rock Holdings, Inc.             DE       2.02,9.01            09/14/11

CUMMINS INC                             IN       8.01                 09/14/11

DATARAM CORP                            NJ       2.02,9.01            09/14/11

DAVE & BUSTERS INC                      MO       2.02,9.01            09/13/11

DDR CORP                                OH       5.03,9.01            09/13/11

DEL TORO SILVER CORP.                   NV       4.01                 09/07/11

DELTA NATURAL GAS CO INC                KY       1.01                 09/12/11

DENTSPLY INTERNATIONAL INC /DE/         DE       9.01                 08/31/11    AMEND

DGSE COMPANIES INC                      NV       7.01,9.01            09/14/11

DGT Holdings Corp.                      NY       1.01,8.01,9.01       09/12/11

Diamond Resorts Corp                    MD       9.01                 09/14/11

DIGAGOGO VENTURES CORP                  DE       5.06,9.01            09/12/11    AMEND

DIODES INC /DEL/                        DE       7.01,9.01            09/12/11

Dividend Capital Total Realty Trust I            7.01                 09/07/11

DOLLAR GENERAL CORP                     TN       1.01,8.01,9.01       09/08/11

ECOLOGY COATINGS, INC.                  NV       3.02                 09/14/11

eHealth, Inc.                           DE       5.07                 09/08/11    AMEND

EL PASO ELECTRIC CO /TX/                TX       8.01                 09/13/11

ELEPHANT TALK COMMUNICATIONS INC        CA       7.01,9.01            09/14/11

ENCORE CAPITAL GROUP INC                DE       5.02,9.01            09/13/11

EPLUS INC                               DE       5.07                 09/13/11

EVERGREEN ENERGY INC                    DE       7.01,9.01            09/14/11

FEDERATED INVESTORS INC /PA/            PA       1.01,2.03            09/09/11

FEEL GOLF CO INC                        CA       9.01                 12/04/10    AMEND

First Sentry Bancshares, Inc.           WV       8.01                 09/14/11

First Titan Corp.                       FL       5.02                 09/13/11

FIRST TRUST/ABERDEEN EMERGING OPPORTU            7.01,9.01            09/14/11

FIRST TRUST/ABERDEEN GLOBAL OPPORTUNI            7.01,9.01            09/14/11

FMC CORP                                DE       7.01,9.01            09/14/11

FOX PETROLEUM INC.                      NV       2.01,2.03,2.05,5.02  09/13/11

FREDERICK'S OF HOLLYWOOD GROUP INC /N   NY       5.02,9.01            09/08/11

FS Energy & Power Fund                  DE       2.02,9.01            09/13/11

FS Investment CORP                      MD       2.02,9.01            09/13/11

Full Circle Capital Corp                MD       8.01,9.01            09/14/11

GBS Enterprises Inc                     NV       7.01,9.01            09/12/11

GBS Enterprises Inc                     NV       4.02,9.01            09/14/11

General Moly, Inc                       DE       5.02,8.01,9.01       09/12/11

GENTEX CORP                             MI       5.07                 05/12/11    AMEND

GLOBAL NUTECH, INC.                              5.03,7.01,8.01,9.01  09/14/11

Globalstar, Inc.                        DE       3.01,9.01            09/12/11

GOLDMAN SACHS GROUP INC                 DE       9.01                 09/14/11

Great Lakes Dredge & Dock CORP          DE       7.01,9.01            09/14/11

Green Energy Management Services Hold   DE       5.02                 09/08/11

Green Plains Renewable Energy, Inc.     IA       1.01,9.01            09/09/11

Greenhouse Solutions Inc.               NV       8.01                 09/12/11

GRYPHON GOLD CORP                       NV       5.07                 09/08/11

HANCOCK FABRICS INC                     DE       2.02,9.01            09/13/11

Hines Global REIT, Inc.                 MD       8.01                 08/25/11

Horizon Technology Finance Corp         DE       8.01,9.01            09/14/11

HOST HOTELS & RESORTS, INC.             MD       8.01,9.01            01/01/10

Inland Diversified Real Estate Trust,   MD       1.01,8.01,9.01       09/08/11

INNOSPEC INC.                           DE       8.01                 09/13/11

Insight Management Corp                 FL       8.01                 09/09/11

INSIGNIA SYSTEMS INC/MN                 MN       8.01                 09/08/11

INTEL CORP                              DE       7.01,9.01            09/14/11

INTERNATIONAL ISOTOPES INC              TX       3.03,8.01            09/08/11

JACKSONVILLE BANCORP INC /FL/           FL       2.02,9.01            09/14/11

JAKKS PACIFIC INC                       DE       8.01,9.01            09/14/11

KEMET CORP                              DE       7.01,9.01            09/14/11

KID BRANDS, INC                         NJ       5.02,8.01,9.01       09/12/11

KV PHARMACEUTICAL CO /DE/               DE       1.01,5.02,5.07       09/08/11

LABORATORY CORP OF AMERICA HOLDINGS     DE       7.01                 09/14/11

LANDEC CORP \CA\                        CA       1.02,7.01,9.01       09/09/11

LATTICE SEMICONDUCTOR CORP              DE       7.01,9.01            09/14/11

LAW ENFORCEMENT ASSOCIATES CORP         NV       5.02                 09/14/11

LEHMAN ABS CORP BCKD TR CRTS TOYS R U   DE       8.01,9.01            09/01/11

LEHMAN ABS CORP KINDER MORGAN DEBEN B   DE       8.01,9.01            09/01/11

LGL GROUP INC                           DE       7.01,9.01            09/14/11

LILLY ELI & CO                          IN       5.07                 04/18/11    AMEND

LML PAYMENT SYSTEMS INC                 A1       1.01,9.01            09/12/11

LUBRIZOL Corp                           OH       8.01,9.01            09/14/11

MACK CALI REALTY CORP                   MD       5.02,9.01            09/14/11

MACK CALI REALTY CORP                   MD       5.07                 05/24/11    AMEND

MADISON EXPLORATIONS, INC.              NV       5.02                 09/13/11

MANHATTAN BRIDGE CAPITAL, INC           NY       5.07                 09/09/11

MEDL Mobile Holdings, Inc.              NV       7.01,9.01            09/14/11

MEXCO ENERGY CORP                       CO       5.02,5.03,5.07,9.01  09/14/11

MFA FINANCIAL, INC.                     MD       5.02                 09/09/11

MILLER HERMAN INC                       MI       8.01                 09/14/11

MOTORCAR PARTS AMERICA INC              NY       9.01                 09/13/11

NATIONAL PRESTO INDUSTRIES INC          WI       8.01,9.01            09/09/11

NATIONAL TECHNICAL SYSTEMS INC /CA/     CA       2.02,9.01            09/14/11

NAVISTAR INTERNATIONAL CORP             DE       7.01                 09/14/11

NETLOGIC MICROSYSTEMS INC               DE       8.01,9.01            09/13/11

NEUROCRINE BIOSCIENCES INC              CA       8.01,9.01            09/13/11

NEVADA GOLD & CASINOS INC               NV       2.01,9.01            07/23/10    AMEND

NEWMARKET CORP                          VA       8.01                 09/13/11

NEWS CORP                                        8.01,9.01            09/14/11

NGP Capital Resources Co                MD       7.01,9.01            09/14/11

NTS REALTY HOLDINGS LP                  DE       8.01,9.01            09/13/11

ONEOK Partners LP                       DE       7.01,9.01            09/12/11

Opko Health, Inc.                       DE       3.01,7.01,9.01       09/14/11

OPTICAL CABLE CORP                      VA       2.02,9.01            09/12/11

Oritani Financial Corp                  DE       8.01,9.01            09/14/11

OSIRIS THERAPEUTICS, INC.               DE       1.01,9.01            09/09/11

PARKERVISION INC                        FL       8.01,9.01            09/14/11

PATTERSON COMPANIES, INC.               MN       5.02,5.07,9.01       09/14/11

PCS EDVENTURES COM INC                  ID       7.01,9.01            09/14/11

PEABODY ENERGY CORP                     DE       8.01                 09/08/11

PediatRx Inc.                           NV       1.01,8.01,9.01       09/12/11

PEERLESS SYSTEMS CORP                   DE       2.02,9.01            09/14/11

PEOPLESTRING CORP                       DE       1.01,7.01,9.01       09/06/11

PEP BOYS MANNY MOE & JACK               PA       5.02,9.01            09/10/11

PEPSICO INC                             NC       5.02,7.01,9.01       09/08/11

PETROQUEST ENERGY INC                   DE       8.01                 09/13/11

Pharmasset Inc                                   8.01,9.01            09/13/11

Piedmont Office Realty Trust, Inc.      MD       5.02,8.01,9.01       08/31/11

PIZZA INN INC /MO/                      MO       9.01                 09/14/11

PMC COMMERCIAL TRUST /TX                TX       5.07                 09/09/11    AMEND

PPG INDUSTRIES INC                      PA       5.02                 09/12/11

PRO DEX INC                             CO       2.02,5.02,9.01       09/14/11

PROSPERITY BANCSHARES INC               TX       8.01,9.01            09/13/11

PURE CYCLE CORP                         CO       5.02                 09/12/11

Q LOTUS HOLDINGS INC                    NV       1.01,2.03,9.01       09/12/11

QUANTUM FUEL SYSTEMS TECHNOLOGIES WOR   DE       2.02,9.01            09/14/11

RDA Holding Co.                                  5.02,9.01            09/08/11

READING INTERNATIONAL INC               NV       4.01,9.01            09/08/11

RFS HOLDING LLC                                  1.01,8.01,9.01       09/12/11

ROBERTSON GLOBAL HEALTH SOLUTIONS COR   NV       1.01,2.03,9.01       09/09/11

Samson Oil & Gas LTD                    C3       2.02,9.01            09/13/11

SCHAWK INC                                       8.01,9.01            09/13/11

SCIENTIFIC INDUSTRIES INC               DE       8.01                 09/13/11

SED INTERNATIONAL HOLDINGS INC          2Q       2.02,9.01            09/14/11

SILLENGER EXPLORATION CORP.             NV       1.01,3.02            09/14/11

SINGLE TOUCH SYSTEMS INC                DE       8.01,9.01            09/06/11

SINOCOKING COAL & COKE CHEMICAL INDUS   FL       8.01,9.01            09/14/11

SIRIUS XM RADIO INC.                    DE       7.01,9.01            09/14/11

SITESEARCH CORP                                  1.01,9.01            09/08/11

SMITH & WESSON HOLDING CORP             NV       7.01,9.01            09/13/11    AMEND

SOLUTIA INC                             DE       7.01,9.01            09/14/11

SOVRAN SELF STORAGE INC                 MD       1.01,9.01            09/14/11

Spartan Gold Ltd.                                1.01,3.02,9.01       09/07/11

Spirit Airlines, Inc.                   DE       1.01                 09/08/11

SRI SURGICAL EXPRESS INC                FL       8.01,9.01            09/14/11

SSI Investments II Ltd                  L2       2.02,9.01            09/13/11

Strategic Storage Trust, Inc.           MD       7.01,9.01            09/14/11

SUN HYDRAULICS CORP                     FL       8.01,9.01            09/12/11

SURMODICS INC                           MN       7.01,9.01            09/14/11

SYNTHESIS ENERGY SYSTEMS INC            DE       7.01,9.01            09/14/11

Teavana Holdings Inc                             1.01,9.01            09/13/11

TEXTRON INC                             DE       7.01,8.01,9.01       09/14/11

THERAGENICS CORP                        DE       5.03,9.01            09/08/11

TRIMAS CORP                             DE       7.01,9.01            09/14/11

ULURU INC.                              NV       1.01,3.02,5.03,9.01  09/13/11

UNIVERSITY GENERAL HEALTH SYSTEM, INC   NV       9.01                 06/28/11    AMEND

US BANCORP \DE\                         DE       7.01,9.01            09/14/11

VERIZON COMMUNICATIONS INC              DE       7.01                 09/14/11

VISCOUNT SYSTEMS INC                    NV       5.02                 09/14/11

VIST FINANCIAL CORP                     PA       7.01                 09/14/11

VISTAPRINT N.V.                         P7       8.01                 09/14/11

VSB BANCORP INC                         NY       8.01                 09/14/11

VSB BANCORP INC                         NY       8.01                 09/14/11

WABASH NATIONAL CORP /DE                DE       5.02,9.01            09/08/11

WASHINGTON GAS LIGHT CO                 DC       8.01                 09/09/11

WEST PHARMACEUTICAL SERVICES INC        PA       7.01,9.01            09/14/11

World Energy Solutions, Inc.            DE       1.01,2.01,9.01       09/13/11

WPCS INTERNATIONAL INC                  DE       2.02,9.01            09/14/11

WPCS INTERNATIONAL INC                  DE       7.01,9.01            09/14/11

XFONE INC.                              NV       8.01,9.01            09/14/11



Modified: 09/15/2011