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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2012-35
February 22, 2012


SEC Charges China-Based Executives With Securities Fraud

The Securities and Exchange Commission today charged two China-based executives with defrauding investors into believing they were investing in a Chinese coal business when in fact they were investing in an empty shell company.

The SEC alleges that Puda Coal Inc.’s chairman Ming Zhao schemed with former CEO Liping Zhu to steal and sell Puda Coal’s sole revenue-producing asset, a coal mining company named Shanxi Puda Coal Group. Zhao secretly transferred Puda Coal’s controlling interest in Shanxi Coal to himself and then sold a substantial portion to a fund controlled by what is reported to be China’s largest state-owned financial firm. The scheme enabled Zhao rather than Puda Coal’s public shareholders to profit from a lucrative business opportunity.

The SEC alleges that Zhao and Zhu failed to disclose these transactions in Puda Coal’s periodic reports to the SEC, and continued to raise funds from U.S. investors by conducting two public offerings to purportedly raise capital to enable Shanxi Coal to acquire coal mines. Unbeknownst to investors, Puda Coal no longer had an ownership stake in that company after Zhao’s secret maneuvers. After the SEC began investigating, Zhao and Zhu further schemed to forge a letter from the Chinese financial firm purporting that Puda Coal investors weren’t harmed by the asset transfers. In reality, the scheme left Puda Coal as a shell company with no ongoing business operations.

“Zhao and Zhu duped investors with promises that their money would be invested in a Chinese coal company when in fact the company was an empty shell that had been looted by the defendants,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “This enforcement action reflects our continuing commitment to hold accountable officers and directors of issuers who misuse their access to the U.S. capital markets to commit fraud for personal gain.”

George S. Canellos, Director of the SEC’s New York Regional Office, added, “The massive fraud perpetrated by Zhao and Zhu wiped out hundreds of millions of dollars in shareholder value and was compounded by their brazen obstruction of the SEC’s investigation.”

According to the SEC’s complaint filed in U.S. District Court for the Southern District of New York, Puda Coal entered the U.S. capital markets through a reverse merger in July 2005. Puda Coal’s common stock was listed and traded on the NYSE from September 2009 to August 2011.

The SEC alleges that Zhao embarked on the scheme with Zhu in September 2009 to enrich himself at the expense of Puda Coal’s public shareholders. Just weeks before Puda Coal announced that Shanxi Coal had received a highly lucrative mandate from the provincial government authorities to become a consolidator of smaller coal mining companies, Zhao quietly transferred Puda Coal’s 90 percent stake in Shanxi Coal to himself. In July 2010, Zhao transferred a 49 percent equity interest in Shanxi Coal to CITIC Trust Co Ltd., a Chinese private equity fund controlled by state-owned investment firm CITIC Group. CITIC Trust placed its 49 percent stake in Shanxi Coal in a trust and then sold interests in the trust to Chinese investors. Zhao caused Shanxi Coal to pledge 51 percent of its assets to CITIC Trust as collateral for a loan of RMB 3.5 billion ($516 million in U.S. dollars) from the trust to Shanxi Coal. In exchange, CITIC Trust gave Zhao 1.212 billion preferred shares in the trust.

According to the SEC’s complaint, the transactions were not approved by Puda Coal’s board or shareholders and not disclosed in Puda Coal’s SEC filings, which Zhao and Zhu signed knowing that they were materially false and misleading. During the two Puda Coal public offerings in 2010, CITIC Trust was separately selling interests in Shanxi Coal to Chinese investors while Zhao and Zhu were still telling U.S. investors that Puda Coal owned a 90 percent stake in that company.

The SEC further alleges that Zhao and Zhu continued their fraudulent scheme to deceive public investors even after the SEC began its investigation. Zhu forged a letter purportedly from CITIC Trust falsely stating that no funds had actually been loaned to Shanxi Coal and disclaiming any interest in Puda Coal’s or Shanxi Coal’s assets. Zhao’s counsel provided the forged letter to the SEC’s investigative staff and Puda’s audit committee. After Puda Coal disclosed the letter in an SEC filing and further misled shareholders about the ownership of Puda Coal’s assets, Zhu admitted forging the letter and resigned as CEO. Zhao remains the chairman.

Zhao and Zhu are charged with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, as well as violating the proxy solicitation rules and various corporate reporting, recordkeeping and internal controls provisions of the Exchange Act. The SEC’s complaint seeks a final judgment ordering Zhao and Zhu to disgorge their ill-gotten gains plus prejudgment interest, imposing financial penalties, barring them from acting as officers or directors of a public company, and permanently enjoining them from committing future violations of these provisions.

The SEC’s investigation, which is continuing, has been conducted by Sheldon Pollock, Scott York and George Stepaniuk of the SEC’s New York Regional Office with investigative support from Neil Hendelman and Desiree Marmita. The SEC’s Cross Border Working Group, which has representatives from each of the SEC’s major divisions and offices and focuses on U.S. companies with substantial foreign operations, has assisted the New York Regional Office enforcement staff in the investigation.

Over the past year, the SEC has moved to protect U.S. investors in U.S. companies with substantial foreign operations through:

  • Trading suspensions of at least 20 U.S. issuers based abroad.
  • Stop orders against two U.S. issuers based abroad to prevent further stock sales under materially misleading and deficient offering documents.
  • Filing a subpoena enforcement action against a foreign-based audit firm to obtain documents.

In addition, the SEC has revoked the securities registration of at least a dozen U.S. issuers based in the People’s Republic of China and instituted administrative proceedings to determine whether to suspend or revoke the registrations of 27 more issuers.

(Press Rel. 2012-31)


In the Matter of Daniel J. Burns

On February 21, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Daniel J. Burns. The Order alleges that on January 31, 2012, a final judgment was entered against Burns, a former consultant of CytoCore, Inc. (CytoCore) and former Chairman CytoCore’s Board of Directors, in the Commission’s civil action against Burns in United States District Court, enjoining Burns from violating certain provisions of the federal securities laws. According to the Order, the Commission’s complaint alleged that, among other things, Burns engaged in market manipulation and insider trading in connection with his purchases and sales of CytoCore stock during a CytoCore private offering, improperly solicited investors for CytoCore without being associated with a registered broker-dealer, submitted to CytoCore false claims for commissions earned and expenses incurred in connection with his solicitation of investors, failed to file required Forms 4 reporting his CytoCore stock transactions, and misreported his CytoCore stock holdings in proxy statements and Forms 4. (Rel. 34-66435; File No. 3-14765)

In the Matter of in Amstem Corporation, et al.

On February 22, 2012, an Administrative Law Judge issued an Order Making Findings and Revoking Registrations by Default as to Amstem Corporation, Anesiva, Inc. and Catcher Holdings, Inc. (Default Order) in Amstem Corporation, Admin. Proc. 3-14706. The Default Order finds that Amstem Corporation, Anesiva, Inc., and Catcher Holdings, Inc., issuers of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 (Exchange Act), have failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 13a-1 and 13a-13 by failing to file required periodic reports with the Securities and Exchange Commission. As a result, the Administrative Law Judge revoked the registration of each class of registered securities of each named Respondent. (Rel. 34-66436; File No. 3-14706)

Commission Declares Decision as to Bio-Warm Corp. (n/k/a PHI Gold Corp.) Final

The decision of an administrative law judge with respect to Bio-Warm Corp. (n/k/a PHI Gold Corp.) has become final. The law judge found that PHI Gold violated Section 13(a) of the Securities Exchange Act of 1934 and Securities Exchange Act Rules 13a-1 and 13a-13 by its failure to file timely periodic reports.

PHI Gold is a defaulted Nevada corporation located in Huntington Beach, California. PHI Gold has not filed any periodic reports since it filed a Form 10-QSB for the period ended May 31, 2005. The Form 10-QSB showed a net loss of more than $238,000 for the prior three months. As of August 29, 2011, PHI Gold's stock symbol "PHIG" was quoted on OTC Link, had five market makers, and was eligible for the "piggyback" exception or Exchange Act rule 15c2-11(f)(3). The law judge also found that it was necessary and appropriate for the protection of investors to revoke the registration of each class of PHI Gold's registered securities. (Rel. 34-66437; File No. 3-14534)

SEC Charges Individual and Three of His Companies With Running Illegal Ponzi Schemes

SEC v. Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners, and Steven L. Hamilton

The Securities and Exchange Commission today announced it has charged Steven L. Hamilton and Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners with securities fraud for defrauding at least 23 investors out of $1.6 million in a series of Ponzi schemes.

The SEC alleges from 2007 through February 2011, Hamilton solicited investors through the internet and via direct solicitation. The SEC’s complaint alleges that Hamilton told Covenant Capital investors they were investing in real estate loans secured by deeds of trust, told Verde Retirement investors they were investing in either real estate loans secured by deeds of trust, certificates of deposit, and told Verde FX investors they were pooling their money to invest in the construction of a new FedEx distribution facility in Las Vegas, Nevada.

According to the SEC’s complaint, Hamilton never placed any investor money in real estate loans secured by deeds of trust, certificates of deposit or a FedEx facility. Instead, Hamilton used the $1.6 million he raised to pay his personal living expenses and return capital to investors.

The SEC’s complaint alleges that Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners, and Steven Hamilton violated Sections 5(a), 5(c), and 17(a)(1), 17(a)(2), and 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC is seeking permanent injunctions against Verde Retirement, Verde FX, Covenant Capital, and Steven Hamilton, and disgorgement, prejudgment interest, and a civil penalty against Steven Hamilton. [SEC v. Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners, and Steven L. Hamilton, Civil Case No. 3:12-cv-00445-DMS-BLM (S.D. Cal.)] (LR-22263)


Incapital LLC (Depositor) and Incapital Unit Trust

An order has been issued on an application filed by Incapital LLC (Depositor) and Incapital Unit Trust under Section 6(c) of the Investment Company Act of 1940 (Act) for exemptions from Sections 2(a)(32), 2(a)(35), 14(a), 19(b), 22(d) and 26(a)(2)(C) of the Act and Rules 19b-1 and 22c-1 under the Act, and under Sections 11(a) and 11(c) of the Act to approve certain offers of exchange and rollover privileges. The order would permit certain unit investment trusts to: (a) impose sales charges on a deferred basis and waive the deferred sales charge in certain cases; (b) offer unitholders certain exchange and rollover privileges; (c) publicly offer units without requiring the Depositor to take for its own account or place with others $100,000 worth of units; and (d) distribute capital gains resulting from the sale of portfolio securities within a reasonable time after receipt. (Rel. IC-29949 – February 21)


Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by NASDAQ OMX PHLX LLC (SR-Phlx-2012-17) amending the Fee Schedule to define a market maker 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 February 27. (Rel. 34-66426)

A proposed rule change filed by BATS Exchange, Inc. adopting rebates for the Competitive Liquidity Provider Program (SR-BATS-2012-011) has become effective under Section 19(b)(3)(A) of the Exchange Act. Publication is expected in the Federal Register during the week of February 27. (Rel. 34-66427)

A proposed rule change filed by NASDAQ OMX PHLX LLC to modify connectivity options and fees (SR-Phlx-2012-20) 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 February 27. (Rel. 34-66429)

A proposed rule change filed by the International Securities Exchange, LLC to expand the Short Term Option Series Program (SR-ISE-2012-08) 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 February 27. (Rel. 34-66432)

Approval of Proposed Rule Change

The Commission approved a proposed rule change filed by NASDAQ OMX PHLX LLC (SR-Phlx-2011-178) relating to stock execution clerks. Publication is expected in the Federal Register during the week of February 27. (Rel. 34-66430)

Accelerated Approval of Proposed Rule Change

ICE Clear Europe Limited filed a proposed rule change (SR-ICEEU-2012-02) under Section 19(b)(1) of the Securities Exchange Act of 1934 to revise procedures related to certain technical and operational changes relating to operational processing of restructuring credit events under CDS contracts. Publication is expected in the Federal Register during the week of February 27. (Rel. 34-66434)


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.

        9252433522 - 0 ($15,358,676.00) Equity, (File 333-179589 - Feb. 21) 
        (BR. 10A)

        92130, 858-792-6300 - 0 ($8,000,000.00) Equity, (File 333-179590 - 
        Feb. 21) (BR. 01B)

        92130, 858-792-6300 - 0 ($1,647,000.00) Equity, (File 333-179591 - 
        Feb. 21) (BR. 01B)

S-8     IROBOT CORP, 8 CROSBY DRIVE, BEDFORD, MA, 01730, 781-430-3000 - 
        1,224,745 ($30,618,625.00) Equity, (File 333-179593 - Feb. 21) (BR. 11A)

        (212) 906-8440 - 0 ($2,667,000.00) Equity, (File 333-179595 - Feb. 21) 
        (BR. 11A)

        SUITE 240, ST LOUIS, MO, 63141, 314-216-2600 - 
        0 ($2,430,000.00) Equity, (File 333-179596 - Feb. 21) (BR. 06A)

        NEW YORK, NY, 10020, 212-584-5100 - 2,000,000 ($4,300,000.00) Equity, 
        (File 333-179600 - Feb. 21) (BR. 11A)

        212-831-6000 - 0 ($116,031,975.00) Equity, (File 333-179601 - Feb. 21) 
        (BR. 12A)

        CA, 90245-4632, 3102977706 - 0 ($10,850,000.00) Equity, 
        (File 333-179602 - Feb. 21) (BR. 02C)

        75207, 2149055100 - 0 ($10,000,000.00) Equity, (File 333-179603 - 
        Feb. 21) (BR. 01B)

        HI, 96740, 8083261353 - 0 ($12,285,000.00) Equity, (File 333-179605 - 
        Feb. 21) (BR. 01A)

N-2     Firsthand Technology Value Fund, Inc., 150 ALMADEN BLVD., SUITE 1250, 
        SAN JOSE, CA, 95113, 408-886-7096 - 0 ($25,000,000.00) Equity, 
        (File 333-179606 - Feb. 21) (BR. 16)

        TX, 75225, 2148742323 - 0 ($1.00) Unallocated (Universal) Shelf, 
        (File 333-179607 - Feb. 21) (BR. 08C)


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
3M CO                                   DE       8.01                 02/17/12

3M CO                                   DE       8.01                 02/17/12

A. H. Belo CORP                         DE       2.02,9.01            02/21/12

ABERCROMBIE & FITCH CO /DE/             DE       2.02,2.06,8.01,9.01  02/14/12

AbitibiBowater Inc.                     DE       5.05                 02/14/12

ACCO BRANDS CORP                        DE       2.05                 02/15/12

ACORN ENERGY, INC.                      DE       7.01,9.01            02/21/12

AgFeed Industries, Inc.                 NV       1.01,5.02,7.01,9.01  02/14/12

AgFeed Industries, Inc.                 NV       5.07                 08/02/11    AMEND

ALICO INC                               FL       5.07,8.01,9.01       02/21/12

ALL Fuels & Energy Co                   DE       1.01,2.01,3.02,7.01, 02/21/11
ALLETE INC                              MN       8.01,9.01            02/21/12    AMEND

ALLETE INC                              MN       1.01,2.03,9.01       02/21/12    AMEND

ALLIANCE DATA SYSTEMS CORP              DE       7.01,9.01            02/21/12

Allied Nevada Gold Corp.                DE       5.07                 10/19/11    AMEND

Alliqua, Inc.                           FL       3.02,9.01            12/31/11

Alternative Fuels Americas, Inc.        DE       5.02                 02/20/12

AMBASSADORS INTERNATIONAL INC           DE       7.01,9.01            02/21/12

AMERICAN AIRLINES INC                   DE       7.01                 02/21/12

AMERICAN EAGLE ENERGY Corp                       5.02,9.01            02/21/12

AMERICAN ELECTRIC POWER CO INC          NY       7.01                 02/20/12

AMERICAN NATIONAL INSURANCE CO /TX/     TX       2.02,9.01            02/20/12

AMERICAN ORIENTAL BIOENGINEERING INC    CO       8.01,9.01            02/21/12

American Reprographics CO               DE       2.02,5.02,9.01       02/21/12

AMERICAN SAFETY INSURANCE HOLDINGS LT            2.02,9.01            02/21/12

AMERICAN SCIENTIFIC RESOURCES INC       NV       5.02,8.01            10/01/11

American Standard Energy Corp.          DE       5.02                 02/13/12

AMERICAN STATES WATER CO                CA       5.02                 02/15/12

AMERICAN WOODMARK CORP                  VA       2.02,9.01            02/21/12

AMPAL-AMERICAN ISRAEL CORP              NY       7.01,9.01            02/21/12

AMR CORP                                DE       7.01                 02/21/12

AMSURG CORP                             TN       7.01,9.01            02/21/12

Amtrust Financial Services, Inc.        DE       5.02                 02/15/12

ANADARKO PETROLEUM CORP                 DE       5.02,9.01            02/16/12

ANAVEX LIFE SCIENCES CORP.              NV       1.01,3.02,9.01       02/09/12    AMEND

APD ANTIQUITIES, INC.                   NV       1.01,9.01            02/17/12

Apollo Medical Holdings, Inc.           DE       5.02,7.01,9.01       02/16/12

Approach Resources Inc                  DE       2.02,7.01,9.01       02/21/12

Approach Resources Inc                  DE       5.02,9.01            02/20/12

ASPEN INSURANCE HOLDINGS LTD            D0       7.01,9.01            02/21/12

AspenBio Pharma, Inc.                   CO       7.01,9.01            02/21/12

ASTEC INDUSTRIES INC                    TN       2.02,9.01            02/21/12

ASTORIA FINANCIAL CORP                  DE       5.02                 02/15/12

ATRION CORP                             DE       2.02,9.01            02/21/12

ATS CORP                                DE       1.01,2.02,5.02,8.01, 02/21/12
AuraSource, Inc.                        NV       1.01,3.02,5.02,9.01  02/15/12

AUTOLIV INC                             DE       8.01,9.01            02/21/12

BADGER METER INC                        WI       5.02,9.01            02/17/12

Baltic Trading Ltd                      1T       2.02,9.01            02/21/12

Bank of New York Mellon CORP            DE       8.01,9.01            02/21/12

BARNES & NOBLE INC                      DE       2.02,9.01            02/21/12

Behringer Harvard Opportunity REIT I,   MD       8.01                 02/13/12

BGC Partners, Inc.                      DE       8.01,9.01            02/20/12

BILL BARRETT CORP                       DE       7.01,9.01            02/21/12

BIOLIFE SOLUTIONS INC                   DE       5.02                 02/15/12

Bitzio, Inc.                            NV       1.01                 02/21/12

BLUE CALYPSO, INC.                      NV       5.02                 02/17/12

BLUE DOLPHIN ENERGY CO                  DE       2.01,3.02,5.01,5.02  02/15/12

Blue Water Restaurant Group, Inc.       NV       8.01,9.01            02/17/11

BOISE INC.                              DE       5.02,9.01            02/15/12

BONANZA GOLD CORP.                      DE       3.02                 02/14/12

BORGWARNER INC                          DE       5.02                 02/21/12

BOSTON BEER CO INC                      MA       5.02,8.01            02/14/12

BOYD GAMING CORP                        NV       2.02,9.01            02/21/12

BRITTON & KOONTZ CAPITAL CORP           MS       1.01,7.01,9.01       02/21/12

BROADCOM CORP                           CA       5.02                 02/16/12

BROCADE COMMUNICATIONS SYSTEMS INC      DE       2.02,9.01            02/21/12

BUCKEYE TECHNOLOGIES INC                DE       7.01,8.01,9.01       02/21/12

CABOT OIL & GAS CORP                    DE       2.02,9.01            02/20/12

CACI INTERNATIONAL INC /DE/             DE       2.02,9.01            02/21/12

CAI International, Inc.                          2.02,9.01            02/21/12

CALIBRUS, INC.                          NV       3.02,8.01            02/21/12

CAPITAL TRUST INC                       MD       2.02,9.01            02/14/12

CARDINAL FINANCIAL CORP                 VA       5.02                 02/14/12

Cardium Therapeutics, Inc.              DE       8.01,9.01            02/16/12

CARMAX AUTO FUNDING LLC                 DE       1.01,8.01,9.01       02/16/12

CAROLINA BANK HOLDINGS INC              NC       5.02                 02/14/12    AMEND

CATERPILLAR INC                         DE       7.01                 02/21/12

CBIZ, Inc.                              DE       2.02,9.01            02/16/12

CBRE GROUP, INC.                        DE       5.02                 02/14/12

CC Media Holdings Inc                            2.02,9.01            02/21/12

CEDAR FAIR L P                          DE       2.02,9.01            02/21/12

CENTURY PROPERTIES FUND XV              CA       5.07                 02/21/12

CENTURY PROPERTIES FUND XVII            CA       5.07                 02/21/12

CH ENERGY GROUP INC                     NY       1.01,8.01,9.01       02/20/12

CHARTER COMMUNICATIONS, INC. /MO/       DE       8.01,9.01            02/15/12

CHEESECAKE FACTORY INC                  DE       2.02,9.01            02/21/12

China Digital Animation Development,    NY       4.01,9.01            01/16/12

CHINA HGS REAL ESTATE INC.              F4       7.01,9.01            02/16/12

China Precision Steel, Inc.             CO       2.02,9.01            02/21/12

China TransInfo Technology Corp.        NV       8.01,9.01            02/21/12

Chino Commercial Bancorp                CA       8.01,9.01            02/15/12

CHIQUITA BRANDS INTERNATIONAL INC       NJ       2.02,5.02,9.01       02/21/12

CHIQUITA BRANDS INTERNATIONAL INC       NJ       5.02,9.01            02/16/12

CHOICE HOTELS INTERNATIONAL INC /DE     DE       2.02,9.01            02/20/12

CHRISTOPHER & BANKS CORP                DE       5.02,7.01,9.01       02/16/12

CHROMCRAFT REVINGTON INC                DE       8.01                 02/21/12

CICERO INC                              DE       5.02                 02/16/12

CIENA CORP                              DE       2.02,9.01            02/21/12

CIFC Corp.                              DE       5.02                 02/16/12

CLEAR CHANNEL COMMUNICATIONS INC        TX       2.02,9.01            02/21/12

Clear Channel Outdoor Holdings, Inc.    DE       2.02,9.01            02/21/12

CLX MEDICAL, INC.                       CO       1.01,1.02,5.01,9.01  02/21/12

CNL Healthcare Trust, Inc.              MD       2.01,2.03,9.01       02/16/12

Cobalt International Energy, Inc.                2.02,8.01,9.01       02/21/12

COCA COLA CO                            DE       5.02,9.01            02/16/12

CODEXIS INC                                      5.02,7.01,9.01       02/17/12

CODORUS VALLEY BANCORP INC              PA       5.02,9.01            02/14/12

COMMUNITY HEALTH SYSTEMS INC            DE       2.02,7.01,9.01       02/21/12

COMPUTER TASK GROUP INC                 NY       7.01,9.01            02/21/12

COMPUWARE CORP                          MI       8.01                 02/17/12

CONAGRA FOODS INC /DE/                  DE       7.01,9.01            02/21/12

Conmed Healthcare Management, Inc.      DE       8.01,9.01            02/21/12

CONSOLIDATED TOMOKA LAND CO             FL       2.02,9.01            02/17/12    AMEND

Copano Energy, L.L.C.                            5.02,9.01            02/14/12

CORNING INC /NY                         NY       7.01,8.01,9.01       02/15/12

CORNING NATURAL GAS CORP                NY       8.01                 02/17/12

CORPORATE PROPERTY ASSOCIATES 15 INC    MD       1.01,8.01,9.01       02/17/12

COUSINS PROPERTIES INC                  GA       2.02,9.01            02/21/12

CRACKER BARREL OLD COUNTRY STORE, INC            2.02,7.01,9.01       02/21/12

CTS CORP                                IN       5.02                 02/21/12

CYBEROPTICS CORP                        MN       5.02                 02/17/12

CYBEROPTICS CORP                        MN       2.02,9.01            02/21/12

CYCLONE POWER TECHNOLOGIES INC          FL       1.01,9.01            02/14/12

CytoCore Inc                            DE       5.02                 02/14/12

CYTOKINETICS INC                                 8.01                 02/21/12

CYTOMEDIX INC                           DE       8.01                 02/17/12

CYTRX CORP                              DE       1.01,3.02            02/14/12

DAKTRONICS INC /SD/                     SD       2.02,9.01            02/21/12

DANA HOLDING CORP                       DE       2.02,7.01,9.01       02/21/12

DANA HOLDING CORP                       DE       9.01                 02/21/12

DAWSON GEOPHYSICAL CO                   TX       7.01,9.01            02/20/12

DealerTrack Holdings, Inc.              DE       2.02,9.01            02/21/12

DELL INC                                DE       2.02,9.01            02/21/12

DELTA NATURAL GAS CO INC                KY       8.01                 02/17/12

DigiPath,Inc.                           NV       1.01,9.01            02/15/12

Digital Domain Media Group, Inc.        FL       1.02,5.02,9.01       01/03/12

Digital Realty Trust, Inc.                       5.03,9.01            02/14/12

DOCUMENT SECURITY SYSTEMS INC           NY       1.01,5.02,8.01,9.01  02/20/12

DOLLAR THRIFTY AUTOMOTIVE GROUP INC     DE       1.01,3.03,8.01,9.01  02/17/12

DOLLAR THRIFTY AUTOMOTIVE GROUP INC     DE       2.02,9.01            02/21/12

DOLLAR THRIFTY AUTOMOTIVE GROUP INC     DE       1.01,1.02,2.03,9.01  02/16/12

Dorman Products, Inc.                   PA       2.02,9.01            02/21/12

DST SYSTEMS INC                         DE       2.02                 02/21/12

ECB BANCORP INC                         NC       5.03,9.01            02/15/12

EDAC TECHNOLOGIES CORP                  WI       8.01,9.01            02/17/12

Electromed, Inc.                                 1.01,5.02,9.01       02/15/12

EMC INSURANCE GROUP INC                 IA       2.02,7.01,9.01       02/21/12

Energy Future Holdings Corp /TX/        TX       2.02,9.01            02/21/12

ENERNOC INC                             DE       2.02,9.01            02/21/12

EnteroMedics Inc                                 5.02                 02/15/12

ENVIRO VORAXIAL TECHNOLOGY INC          ID       4.01,9.01            02/15/12

EQUITY ONE, INC.                                 5.02                 02/20/12

EQUITY RESIDENTIAL                      MD       1.01,7.01,9.01       02/17/12

EURONET WORLDWIDE INC                   DE       2.02,9.01            02/20/12

EXELON CORP                             PA       8.01,9.01            02/17/12

EXPEDITORS INTERNATIONAL OF WASHINGTO   WA       2.02                 02/21/12

Extra Space Storage Inc.                MD       2.02,5.02,9.01       02/21/12

EZCORP INC                              DE       5.07,7.01            02/17/12

Federal Home Loan Bank of Atlanta       X1       2.03                 02/21/12

Federal Home Loan Bank of Chicago       X1       2.03                 02/15/12

Federal Home Loan Bank of Indianapoli   X1       2.03,9.01            02/21/12

Federal Home Loan Bank of New York      X1       2.03,9.01            02/15/12

Federal Home Loan Bank of Pittsburgh    PA       2.03,9.01            02/15/12

Federal Home Loan Bank of San Francis   X1       2.03                 02/15/12

Federal Home Loan Bank of Seattle                2.03                 02/16/12

FIELDPOINT PETROLEUM CORP               CO       7.01,9.01            02/21/12

Financial Engines, Inc.                 DE       2.02,9.01            02/21/12

FIRST DATA CORP                         DE       7.01                 02/21/12

FIRST MERCHANTS CORP                    IN       8.01,9.01            02/21/12

FIRSTENERGY CORP                        OH       5.02                 02/21/12

Florida Bank Group, Inc.                FL       2.02,9.01            02/21/12

FLUSHING FINANCIAL CORP                 DE       7.01,9.01            02/21/12

FOREST OIL CORP                         NY       2.02,9.01            02/21/12

FORWARD AIR CORP                        TN       1.01,2.03,9.01       02/14/12

FRANKLIN ELECTRIC CO INC                IN       2.02,9.01            02/21/12

FRANKLIN STREET PROPERTIES CORP /MA/             2.02,9.01            02/21/12

FreightCar America, Inc.                DE       2.02,9.01            02/17/12

Frozen Food Gift Group, Inc             DE       1.01,3.02            02/15/12

FS Investment CORP                      MD       1.01,2.03,9.01       02/21/12

Furiex Pharmaceuticals, Inc.            DE       2.02,9.01            02/21/12

Geeknet, Inc                            DE       2.02,9.01            12/31/11    AMEND

GENCO SHIPPING & TRADING LTD                     2.02,9.01            02/21/12

GENERAL EMPLOYMENT ENTERPRISES INC      IL       2.02,9.01            02/14/12

GENTEX CORP                             MI       5.03,9.01            02/16/12

GENTEX CORP                             MI       5.02                 02/16/12

GENTIVA HEALTH SERVICES INC             DE       1.01,9.01            02/15/12

GENUINE PARTS CO                        GA       2.02,8.01,9.01       02/20/12

GLOBAL NUTECH, INC.                     NV       5.02                 02/07/12

Grand Canyon Education, Inc.            DE       2.02,9.01            02/21/12

Great Lakes Dredge & Dock CORP          DE       2.02,9.01            02/21/12

GREAT PLAINS ENERGY INC                 MO       5.02                 02/21/12

Greektown Superholdings, Inc.           DE       8.01                 02/21/12

GreenHunter Energy, Inc.                DE       2.01,3.02,5.03,8.01, 02/17/12
GREENLIGHT CAPITAL RE, LTD.                      2.02,9.01            02/21/12

GRUBB & ELLIS CO                        DE       1.01,1.03,2.03,2.04, 02/17/12
GRYPHON GOLD CORP                       NV       7.01,9.01            02/21/12

GTX INC /DE/                            DE       8.01,9.01            02/21/12

GTX INC /DE/                            DE       2.02,9.01            02/21/12

GYRODYNE CO OF AMERICA INC              NY       8.01,9.01            02/17/12

HACKETT GROUP, INC.                     FL       2.02,9.01            02/21/12

HARDINGE INC                            NY       2.02,9.01            02/16/12

HEALTHSTREAM INC                        TN       2.02,7.01,9.01       02/21/12

HECLA MINING CO/DE/                     DE       2.02,8.01,9.01       02/21/12

HNI CORP                                IA       5.03,9.01            02/15/12

Hoku Corp                               DE       1.01                 02/17/12

HOME DEPOT INC                          DE       2.02,9.01            02/21/12

HORNBECK OFFSHORE SERVICES INC /LA      DE       5.02,9.01            02/14/12

IDENTIVE GROUP, INC.                    DE       5.02,8.01,9.01       02/16/12

IKONICS CORP                                     2.02,9.01            02/21/12

ImmunoCellular Therapeutics, Ltd.       DE       1.01,9.01            02/14/12

Imperial Holdings, Inc.                          8.01                 02/17/12

IMPLANT SCIENCES CORP                   MA       2.02,7.01,9.01       02/21/12

Innophos Holdings, Inc.                          8.01,9.01            02/21/12

INTEGRATED ELECTRICAL SERVICES INC      DE       4.02,8.01,9.01       02/14/12

INTEGRATED SECURITY SYSTEMS INC         DE       1.01,9.01            02/17/12

International Gold Corp.                NV       1.01,9.01            02/21/12

INTUIT INC                              DE       2.02,8.01,9.01       02/21/12

IPC The Hospitalist Company, Inc.       DE       2.02,9.01            02/21/12

IPG PHOTONICS CORP                      DE       5.02,8.01,9.01       02/13/12

IRIDEX CORP                             DE       5.02,9.01            02/14/12

IVOICE, INC /NJ                         NJ       5.01,5.02,9.01       01/05/12

JACK IN THE BOX INC /NEW/               DE       5.07                 02/17/12

JAKKS PACIFIC INC                       DE       8.01,9.01            02/21/12

JAMBA, INC.                             DE       1.01,2.03            02/14/12

Jazz Pharmaceuticals plc                DE       5.02                 02/14/12

JOHNSON & JOHNSON                       NJ       5.02                 02/14/12

JUNIPER NETWORKS INC                    DE       5.02,5.03            02/14/12

KID BRANDS, INC                         NJ       2.02,4.02,8.01       02/14/12

KNOLOGY INC                             DE       1.01,5.02,9.01       02/17/12

KORN FERRY INTERNATIONAL                DE       5.02,9.01            02/21/12

KRAFT FOODS INC                         VA       2.02,9.01            02/21/12

KRAFT FOODS INC                         VA       7.01,9.01            02/21/12

LA-Z-BOY INC                            MI       2.02,9.01            02/21/12

LABORATORY CORP OF AMERICA HOLDINGS     DE       7.01                 02/21/12

LEE ENTERPRISES, INC                    DE       8.01,9.01            02/17/12

LEGACY RESERVES LP                      DE       2.02,9.01            02/21/12

LIGAND PHARMACEUTICALS INC              DE       1.01,8.01,9.01       02/16/12

LPL Investment Holdings Inc.            DE       8.01,9.01            02/21/12

MACROSOLVE INC                          OK       1.01,2.03,9.01       02/17/11

Macy's, Inc.                            DE       2.02,9.01            02/21/12

MAGNUM HUNTER RESOURCES CORP            DE       1.01,2.03,7.01,9.01  02/14/12

MATTHEWS INTERNATIONAL CORP             PA       5.07                 02/16/12

MEDCO HEALTH SOLUTIONS INC              DE       2.02,9.01            02/21/12

MEDIANET GROUP TECHNOLOGIES INC         NV       5.02,9.01            02/15/12

MEDTRONIC INC                           MN       2.02,9.01            02/21/12

MESA LABORATORIES INC /CO               CO       7.01,9.01            02/15/12

MetroCorp Bancshares, Inc.              TX       5.02,9.01            02/15/12

MF Global Holdings Ltd.                 DE       7.01,9.01            02/16/12

MHI Hospitality CORP                    MD       2.02,9.01            02/21/12

MICROELECTRONICS TECHNOLOGY Co          NV       9.01                 02/07/12    AMEND

MICROSEMI CORP                          DE       1.01,2.03,9.01       02/17/12

MICROSOFT CORP                          WA       5.02,9.01            02/17/12

Mobiform Software Inc                   DE       1.01                 02/15/12

MOHEGAN TRIBAL GAMING AUTHORITY                  1.01,9.01            02/14/12

MOHEGAN TRIBAL GAMING AUTHORITY                  8.01,9.01            02/21/12

MOLINA HEALTHCARE INC                   DE       7.01                 02/17/12

MOMENTA PHARMACEUTICALS INC             DE       5.02,9.01            02/14/12

MONRO MUFFLER BRAKE INC                 NY       8.01,9.01            02/21/12

Morningstar, Inc.                       IL       8.01,9.01            02/17/12

MORRIS PUBLISHING GROUP LLC             GA       8.01                 02/16/12

MYLAN INC.                              PA       2.02,9.01            02/21/12

MYLAN INC.                              PA       1.01,2.03,7.01       02/21/12

NATIONAL BANCSHARES CORP /OH/           OH       2.02,9.01            02/21/12

NATIONAL PRESTO INDUSTRIES INC          WI       2.02,9.01            02/17/12

NATIONAL PROPERTY INVESTORS 4           CA       5.07                 02/21/12

NATIONAL WESTERN LIFE INSURANCE CO      CO       5.05                 02/16/12

NATURALLY ADVANCED TECHNOLOGIES INC     A1       7.01,9.01            02/21/12

NAVISTAR INTERNATIONAL CORP             DE       5.03,5.07,9.01       02/21/12

NBC ACQUISITION CORP                    DE       7.01,9.01            02/17/12

Neenah Paper Inc                        DE       2.02,9.01            02/20/12

Net Savings Link, Inc.                  NV       1.01,2.03            02/14/12

New Concept Energy, Inc.                NV       5.07                 11/08/11

NEWS CORP                                        8.01,9.01            02/20/12

NewStar Financial, Inc.                          1.01,2.03,9.01       02/16/12

NGP Capital Resources Co                MD       7.01,9.01            02/21/12

Noranda Aluminum Holding CORP           DE       8.01,9.01            02/21/12

NORDSTROM INC                           WA       8.01,9.01            02/21/12

NORMAN CAY DEVELOPMENT, INC.            NV       1.01,2.03,3.02,7.01, 02/14/12
NORTHEAST UTILITIES                     MA       5.02,8.01,9.01       02/14/12

NORTHSTAR ELECTRONICS INC               DE       2.01,9.01            02/21/12

NORTHWESTERN CORP                       DE       5.02,9.01            02/21/12

NTS MORTGAGE INCOME FUND                DE       1.01,9.01            02/20/12

NUMEREX CORP /PA/                       PA       2.02,9.01            02/21/12

NV ENERGY, INC.                         NV       2.02,7.01,9.01       02/21/12

Oilsands Quest Inc                               5.08                 02/19/12

OLD SECOND BANCORP INC                  DE       7.01,9.01            02/17/12

OM GROUP INC                            DE       5.02                 01/16/12    AMEND

Omega Flex, Inc.                        PA       2.02                 12/31/11

ONCOR ELECTRIC DELIVERY CO LLC          DE       2.02,9.01            02/21/12

ONEOK INC /NEW/                         OK       2.02,7.01,9.01       02/21/12

ONEOK Partners LP                       DE       2.02,7.01,9.01       02/21/12

Onstream Media CORP                     FL       2.02,9.01            02/21/12

OphthaliX, Inc.                         NV       7.01,9.01            02/21/12

ORBITAL SCIENCES CORP /DE/              DE       2.02,9.01            02/21/12

OTELCO INC.                             DE       2.02,9.01            02/21/12

OWENS ILLINOIS INC /DE/                 DE       2.02,9.01            02/21/12

PAPA JOHNS INTERNATIONAL INC            DE       2.02,9.01            02/21/12

PARKWAY PROPERTIES INC                  MD       8.01,9.01            02/21/12

PATRIOT TRANSPORTATION HOLDING INC      FL       1.01                 02/15/12

PEABODY ENERGY CORP                     DE       1.04                 02/21/12

PENN VIRGINIA RESOURCE PARTNERS L P     DE       2.02,7.01,9.01       02/20/12

PEREGRINE PHARMACEUTICALS INC           DE       5.02                 02/17/12

Pernix Group, Inc.                               8.01,9.01            01/13/12

PG&E CORP                               CA       5.02,5.03,9.01       02/14/12

PHAZAR CORP                             DE       8.01,9.01            02/20/12

PIONEER DRILLING CO                     TX       2.02,9.01            02/21/12

PMI GROUP INC                           DE       7.01,9.01            02/21/12

POTLATCH CORP                           DE       5.02                 02/17/12

Powder River Coal Corp.                 FL       3.02                 02/21/12

POWERSECURE INTERNATIONAL, INC.         DE       7.01,9.01            02/17/12

PRESSURE BIOSCIENCES INC                MA       3.01                 02/17/12

PROCERA NETWORKS INC                    NV       2.02,9.01            02/21/12

PROGRESS ENERGY INC                     NC       1.01,9.01            02/15/12

PROVIDENCE SERVICE CORP                 DE       5.02                 02/14/12

PROVIDENT NEW YORK BANCORP              DE       5.02,5.07,9.01       02/17/11

RADIOSHACK CORP                         DE       2.02,9.01            12/31/11

RAYMOND JAMES FINANCIAL INC             FL       1.01,8.01,9.01       02/16/12

Remark Media, Inc.                      DE       5.02                 02/14/12

RENTECH INC /CO/                        CO       5.02                 02/14/12

REPLIGEN CORP                           DE       2.02,9.01            02/21/12

REPLIGEN CORP                           DE       8.01,9.01            02/21/12

RES CARE INC /KY/                       KY       2.02,9.01            02/21/12

RESPONSE GENETICS INC                            8.01,9.01            02/16/12

REX ENERGY CORP                         DE       2.02,7.01,9.01       02/21/12

Rockwood Holdings, Inc.                 DE       2.02,9.01            02/21/12

RPM INTERNATIONAL INC/DE/               DE       5.02,9.01            02/21/12

RR Donnelley & Sons Co                  DE       5.03,9.01            02/16/12

Ruths Hospitality Group, Inc.           DE       1.01,2.03,9.01       02/14/12

S Y BANCORP INC                         KY       8.01,9.01            02/20/12

SafeStitch Medical, Inc.                DE       1.01,3.02,7.01,9.01  02/17/12

SAIC, Inc.                                       5.02,9.01            02/21/12

SAJAN INC                               DE       2.02,9.01            02/21/12

SAKS INC                                TN       2.02,9.01            02/21/12

SAN JUAN BASIN ROYALTY TRUST            TX       2.02,9.01            02/17/12

Sanchez Energy Corp                     DE       7.01,9.01            02/21/12

SEACOAST BANKING CORP OF FLORIDA        FL       5.02,9.01            02/21/12

SEALED AIR CORP/DE                      DE       7.01,9.01            02/21/12

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES    NV       7.01,9.01            02/21/12

SHC Advance Services Inc.               DE       9.01                 01/26/12    AMEND

SHUTTERFLY INC                          DE       5.02,9.01            02/14/12

SILGAN HOLDINGS INC                     DE       8.01,9.01            02/16/12

Silver Dragon Resources Inc.            DE       7.01,9.01            02/21/12

SimplePons, Inc.                        DE       1.01,5.02            02/15/12

SITEL Worldwide Corp                    DE       8.01,9.01            02/21/12

Skinny Nutritional Corp.                NV       1.01,8.01,9.01       02/14/12

SKINVISIBLE INC                         NV       1.01,2.03,3.02,5.02, 12/31/11
SMUCKER J M CO                          OH       8.01                 02/21/12

SOLAZYME INC                            DE       2.02,9.01            02/21/12

SONUS NETWORKS INC                      DE       2.02,9.01            02/21/12

SOURCEFIRE INC                          DE       2.02,9.01            02/21/12

SOUTHERN MICHIGAN BANCORP INC           MI       2.02,9.01            02/20/12

SOVRAN SELF STORAGE INC                 MD       5.02,9.01            02/20/12

Spine Pain Management, Inc              DE       5.02,8.01,9.01       02/20/12

SPX CORP                                DE       1.01,9.01            02/16/12

SS&C Technologies Holdings Inc          DE       2.02,9.01            02/21/12

Standard Financial Corp.                MD       7.01,9.01            02/21/12

Star Gold Corp.                         NV       3.02                 02/15/12

STARWOOD HOTEL & RESORTS WORLDWIDE, I   MD       5.02                 02/16/12

State Auto Financial CORP               OH       2.02,7.01,9.01       02/16/12

STEVEN MADDEN, LTD.                     DE       2.02,9.01            02/21/12

STILLWATER MINING CO /DE/               DE       2.02,9.01            02/21/12

STREAMLINE HEALTH SOLUTIONS INC.        DE       9.01                 12/07/11    AMEND

Strike Axe, Inc                         DE       1.01,3.02,9.01       02/14/12

SUN COMMUNITIES INC                     MD       2.01,9.01            02/16/12

SUNGARD CAPITAL CORP                    DE       7.01                 02/21/12

SUNOCO INC                              PA       2.02,9.01            02/15/12

Sunstone Hotel Investors, Inc.          MD       2.02,9.01            02/21/12

SUPERCONDUCTOR TECHNOLOGIES INC         DE       1.01,8.01,9.01       02/16/12

SUPERIOR UNIFORM GROUP INC              FL       1.01                 02/15/12

SUSQUEHANNA BANCSHARES INC              PA       2.01,5.02,7.01,9.01  02/17/12

SUSSEX BANCORP                          NJ       8.01,9.01            02/16/12

SWIFT TRANSPORTATION Co                          8.01,9.01            02/21/12

SYNERGY PHARMACEUTICALS, INC.           FL       8.01                 02/16/12

SYNOPSYS INC                            DE       8.01                 02/17/12

TANGOE INC                              DE       7.01                 02/21/12

TARA GOLD RESOURCES CORP.               NV       5.02                 02/17/12

TARGACEPT INC                                    2.02,9.01            02/21/12

TEAMSTAFF INC                           NJ       5.07                 02/16/12

TENGION INC                             DE       5.02                 02/16/12

TENNANT CO                              MN       2.02,9.01            02/21/12

TEREX CORP                              DE       2.02,9.01            02/16/12

Terra Tech Corp.                        NV       1.01,2.01,3.02,3.03, 02/09/12    AMEND
Texas Roadhouse, Inc.                   DE       2.02,8.01,9.01       02/21/12

THERMOGENESIS CORP                      DE       5.02                 02/15/12

THOMAS GROUP INC                        DE       5.02,8.01            02/15/12

THRESHOLD PHARMACEUTICALS INC           DE       5.02,9.01            02/16/12

THRESHOLD PHARMACEUTICALS INC           DE       8.01,9.01            02/21/12

TILDEN ASSOCIATES INC                   DE       1.01,2.01,2.03,3.02, 02/15/12

TITAN INTERNATIONAL INC                 IL       4.01                 02/16/12    AMEND

TMS International Corp.                 DE       7.01,9.01            02/21/12

TORCHLIGHT ENERGY RESOURCES INC         NV       8.01                 02/16/12

TOWER BANCORP INC                       PA       2.01,3.01,3.03,5.01, 02/17/12
TRACTOR SUPPLY CO /DE/                  DE       5.02,9.01            02/21/12

TransDigm Group INC                     DE       1.01,2.03,9.01       02/15/12

Tropicana Entertainment Inc.            DE       7.01,9.01            02/21/12

TRUSTCO BANK CORP N Y                   NY       8.01,9.01            02/21/12

Two Harbors Investment Corp.                     2.02                 02/21/12

UNIT CORP                               DE       2.02,9.01            02/21/12

UNITED FIRE GROUP INC                   IA       2.02,9.01            02/21/12

UNITED RENTALS INC /DE                  DE       7.01,8.01,9.01       02/21/12

URS CORP /NEW/                          DE       1.01,2.02,7.01,9.01  02/20/12

VALMONT INDUSTRIES INC                  DE       5.02,9.01            02/21/12

VALSPAR CORP                            DE       5.02,5.07            02/16/12

VASCO DATA SECURITY INTERNATIONAL INC   DE       2.02,9.01            02/16/12

VECTREN CORP                            IN       7.01                 02/21/12

Verso Paper Corp.                       DE       8.01                 02/17/12

VirtualScopics, Inc.                    DE       2.02,9.01            02/21/12

Vitacost.com, Inc.                      DE       1.01,3.02,9.01       02/16/12

W P CAREY & CO LLC                      DE       1.01,1.02,2.03,8.01, 02/17/12
WABCO Holdings Inc.                     DE       5.02                 02/14/12

WACCAMAW BANKSHARES INC                 NC       8.01                 02/07/12

WAL MART STORES INC                     DE       2.02,9.01            02/21/12

Walter Energy, Inc.                     DE       2.02,9.01            02/21/12

WATTS WATER TECHNOLOGIES INC            DE       2.02,9.01            02/20/12

WAUSAU PAPER CORP.                      WI       5.02,9.01            02/15/12

Weatherford International Ltd./Switze   V8       2.02,4.02,7.01,9.01  02/21/11

WESTERN CAPITAL RESOURCES, INC.         MN       1.01,5.02            02/15/12

WESTINGHOUSE AIR BRAKE TECHNOLOGIES C   DE       2.02,7.01,9.01       02/21/12

WESTLAKE CHEMICAL CORP                           2.02,9.01            02/21/12

WILEY JOHN & SONS, INC.                 NY       8.01                 02/21/12

WIRED ASSOCIATES SOLUTIONS INC          NV       1.01,9.01            02/17/12

WYNN RESORTS LTD                                 1.01,2.03,8.01,9.01  02/18/12

XPO Logistics, Inc.                     DE       2.02,9.01            02/21/12

Xun Energy, Inc.                        NV       1.01,9.01            02/20/12

ZAP COM CORP                            NV       5.02,9.01            02/15/12

ZIX CORP                                TX       2.02,9.01            02/21/12



Modified: 02/22/2012