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GOLDMAN CAPITAL MANAGEMENT INC
> CYRN
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2017 | CYREN Ltd. | CYRN | 1,648,656 | -931,264 | 4,122,000 | -548,000 | $2.50 |
| 09/30/2017 | CYREN Ltd. | CYRN | 2,579,920 | 221,000 | 4,670,000 | -166,000 | $1.81 |
| 06/30/2017 | CYREN Ltd. | CYRN | 2,358,920 | -208,014 | 4,836,000 | -298,000 | $2.05 |
| 03/31/2017 | CYREN Ltd. | CYRN | 2,566,934 | -177,169 | 5,134,000 | -766,000 | $2.00 |
| 12/31/2016 | CYREN Ltd. | CYRN | 2,744,103 | -7,665 | 5,900,000 | -869,000 | $2.15 |
| 09/30/2016 | CYREN Ltd. | CYRN | 2,751,768 | 238,702 | 6,769,000 | 1,768,000 | $2.46 |
| 06/30/2016 | CYREN Ltd. | CYRN | 2,513,066 | 2,513,066 | 5,001,000 | 5,001,000 | $1.99 |
| 03/31/2016 | CYREN Ltd. | CYRN | 2,317,007 | 951,007 | 3,916,000 | 924,000 | $1.69 |
| 02/17/2016 | CYREN Ltd. | CYRN | 2,092,131 | 464,131 | 2,866,219 | 98,219 | $1.37 |
| 12/31/2015 | CYREN Ltd. | CYRN | 1,628,000 | 262,000 | 2,768,000 | -224,000 | $1.70 |
| 09/30/2015 | CYREN Ltd. | CYRN | 1,740,183 | 374,183 | 3,098,000 | 106,000 | $1.78 |
| 06/30/2015 | CYREN Ltd. | CYRN | 1,598,390 | 232,390 | 3,021,000 | 29,000 | $1.89 |
| 03/31/2015 | CYREN Ltd. | CYRN | 1,357,408 | -8,592 | 4,113,000 | 1,121,000 | $3.03 |
| 12/31/2014 | CYREN Ltd. | CYRN | 1,317,604 | -48,396 | 2,267,000 | -725,000 | $1.72 |
| 09/30/2014 | CYREN Ltd. | CYRN | 1,366,000 | 1,366,000 | 2,992,000 | 2,992,000 | $2.19 |
| 06/30/2014 | CYREN Ltd. | CYRN | 725,000 | 725,000 | 2,088,000 | 2,088,000 | $2.88 |
| 03/31/2014 | CYREN Ltd. | CYRN | 732,860 | 732,860 | 2,177,000 | 2,177,000 | $2.97 |
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