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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADEPT TECHNOLOGY INC COM NEW 006854202 624 101,509 SH   SOLE   101,509 0 0
AIR LEASE CORP CL A 00912X302 4,114 109,000 SH Call SOLE   109,000 0 0
ARQULE INC COM 04269E107 3,877 1,730,859 SH   SOLE   1,730,859 0 0
BANCORP INC DEL COM 05969A105 10,996 1,217,689 SH   SOLE   1,217,689 0 0
BRIDGEPOINT ED INC COM 10807M105 10,625 1,100,995 SH   SOLE   1,100,995 0 0
BRIDGEPOINT ED INC COM 10807M105 627 65,000 SH Call SOLE   65,000 0 0
BRIGHTCOVE INC COM 10921T101 5,389 735,166 SH   SOLE   735,166 0 0
CASH AMER INTL INC COM 14754D100 2,183 93,676 SH   SOLE   93,676 0 0
CASTLE A M & CO NOTE 7.000%12/1 148411AF8 2,062 3,000,000 PRN   SOLE   3,000,000 0 0
CENVEO INC COM 15670S105 2,377 1,110,756 SH   SOLE   1,110,756 0 0
CITI TRENDS INC COM 17306X102 6,781 251,145 SH   SOLE   251,145 0 0
CODEXIS INC COM 192005106 16,703 3,662,918 SH   SOLE   3,662,918 0 0
CROCS INC COM 227046109 11,338 960,047 SH   SOLE   960,047 0 0
CROCS INC COM 227046109 2,089 176,900 SH Call SOLE   176,900 0 0
CROWN MEDIA HLDGS INC CL A 228411104 8,593 2,148,126 SH   SOLE   2,148,126 0 0
DIAMOND RESORTS INTL INC COM 25272T104 12,202 365,008 SH   SOLE   365,008 0 0
DOLBY LABORATORIES INC COM 25659T107 4,414 115,672 SH   SOLE   115,672 0 0
DOVER DOWNS GAMING & ENTMT I COM 260095104 232 198,636 SH   SOLE   198,636 0 0
DOVER MOTORSPORTS INC COM 260174107 2,521 1,063,569 SH   SOLE   1,063,569 0 0
ELLIS PERRY INTL INC COM 288853104 3,195 137,957 SH   SOLE   137,957 0 0
EMMIS COMMUNICATIONS CORP CL A 291525103 2,025 1,017,781 SH   SOLE   1,017,781 0 0
EVOLUTION PETROLEUM CORP COM 30049A107 4,786 804,324 SH   SOLE   804,324 0 0
FALCONSTOR SOFTWARE INC COM 306137100 5,154 3,325,052 SH   SOLE   3,325,052 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 4,078 250,000 SH   SOLE   250,000 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 3,262 200,000 SH Call SOLE   200,000 0 0
FINTECH ACQUISITION CORP* UNIT 99/99/9999 31809H209 6,728 650,000 SH   SOLE   650,000 0 0
FIRST CASH FINL SVCS INC COM 31942D107 4,885 105,000 SH   SOLE   105,000 0 0
FULL CIRCLE CAP CORP COM 359671104 525 149,055 SH   SOLE   149,055 0 0
IMPERIAL HLDGS INC NOTE 8.500% 2/1 452834AE4 18,475 14,770,000 PRN   SOLE   14,770,000 0 0
IMPERIAL HLDGS INC COM 452834104 9,657 1,385,460 SH   SOLE   1,385,460 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 24,874 200,000 SH Put SOLE   200,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 24,874 200,000 SH Put SOLE   200,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 12,437 100,000 SH Put SOLE   100,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 31,093 250,000 SH Put SOLE   250,000 0 0
ISIS PHARMACEUTICALS INC DEL NOTE 2.750%10/0 464337AG9 9,650 2,500,000 PRN   SOLE   2,500,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 5,847 861,150 SH   SOLE   861,150 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 1,867 275,000 SH Call SOLE   275,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 340 50,000 SH Call SOLE   50,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 496 73,000 SH Call SOLE   73,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 2,184 321,600 SH Call SOLE   321,600 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 1,358 200,000 SH Call SOLE   200,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 1,867 275,000 SH Call SOLE   275,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 1,256 185,000 SH Call SOLE   185,000 0 0
ITT EDUCATIONAL SERVICES INC COM 45068B109 679 100,000 SH Call SOLE   100,000 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 2,160 12,500 SH Put SOLE   12,500 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 115 9,000 SH Put SOLE   9,000 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 2,546 200,000 SH Put SOLE   200,000 0 0
LAKES ENTMNT INC COM NEW 51206P208 4,775 557,816 SH   SOLE   557,816 0 0
LENNAR CORP CL B 526057302 4,710 114,604 SH   SOLE   114,604 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 9,160 218,035 SH   SOLE   218,035 0 0
LIFE TIME FITNESS INC COM 53217R207 6,382 89,944 SH   SOLE   89,944 0 0
LINCOLN EDL SVCS CORP COM 533535100 3,381 1,509,374 SH   SOLE   1,509,374 0 0
LUMBER LIQUIDATORS HLDGS INC COM 55003T107 1,416 46,000 SH Call SOLE   46,000 0 0
META FINL GROUP INC COM 59100U108 7,418 186,710 SH   SOLE   186,710 0 0
MIDWAY GOLD CORP COM 598153104 2,186 7,143,441 SH   SOLE   7,143,441 0 0
NATIONAL RESH CORP CL A 637372202 2,942 204,273 SH   SOLE   204,273 0 0
NEWS CORP NEW CL A 65249B109 11,812 737,800 SH   SOLE   737,800 0 0
OCWEN FINL CORP COM NEW 675746309 1,238 150,000 SH Call SOLE   150,000 0 0
OWENS RLTY MTG INC COM 690828108 10,697 714,088 SH   SOLE   714,088 0 0
PACIRA PHARMACEUTICALS INC NOTE 3.250% 2/0 695127AB6 18,260 5,100,000 PRN   SOLE   5,100,000 0 0
PAIN THERAPEUTICS INC COM 69562K100 4,144 2,192,353 SH   SOLE   2,192,353 0 0
PHARMATHENE INC COM 71714G102 4,065 2,493,983 SH   SOLE   2,493,983 0 0
QAD INC CL A 74727D306 8,753 361,685 SH   SOLE   361,685 0 0
QAD INC CL B 74727D207 3,930 196,476 SH   SOLE   196,476 0 0
RADIANT LOGISTICS INC COM 75025X100 6,731 1,299,360 SH   SOLE   1,299,360 0 0
RED LION HOTELS CORP COM 756764106 2,832 424,647 SH   SOLE   424,647 0 0
REGIONAL MGMT CORP COM 75902K106 7,535 510,502 SH   SOLE   510,502 0 0
REGIONAL MGMT CORP COM 75902K106 3,104 210,300 SH Call SOLE   210,300 0 0
REPUBLIC BANCORP KY CL A 760281204 5,169 209,035 SH   SOLE   209,035 0 0
SCICLONE PHARMACEUTICALS INC COM 80862K104 13,490 1,522,625 SH   SOLE   1,522,625 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 15,235 1,455,151 SH   SOLE   1,455,151 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 6,282 600,000 SH Call SOLE   600,000 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 7,329 700,000 SH Call SOLE   700,000 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 13,611 1,300,000 SH Call SOLE   1,300,000 0 0
SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 7,395 365,000 SH   SOLE   365,000 0 0
SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 1,317 65,000 SH Call SOLE   65,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 10,322 50,000 SH Put SOLE   50,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 26,836 130,000 SH Put SOLE   130,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 6,193 30,000 SH Call SOLE   30,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 10,322 50,000 SH Put SOLE   50,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 6,193 30,000 SH Put SOLE   30,000 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 11,275 50,000 SH Call SOLE   50,000 0 0
SUNCOKE ENERGY INC COM 86722A103 5,086 340,442 SH   SOLE   340,442 0 0
SYNERGETICS USA INC COM 87160G107 6,008 1,114,585 SH   SOLE   1,114,585 0 0
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 657 142,209 SH   SOLE   142,209 0 0
TFS FINL CORP COM 87240R107 4,185 285,087 SH   SOLE   285,087 0 0
TRANS WORLD ENTMT CORP COM 89336Q100 8,355 2,257,974 SH   SOLE   2,257,974 0 0
UNITED RENTALS INC COM 911363109 4,941 54,200 SH Call SOLE   54,200 0 0
UNIVERSAL TECHNICAL INST INC COM 913915104 1,059 110,316 SH   SOLE   110,316 0 0
WHITEHORSE FIN INC COM 96524V106 2,863 230,515 SH   SOLE   230,515 0 0
WORLD ACCEP CORP DEL COM 981419104 7,292 100,000 SH Call SOLE   100,000 0 0