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
ALDERON IRON ORE CORP COM 01434T100 132 394,500 SH   DFND 1 394,500 0 0
ALLIED HEALTHCARE PRODS INC COM 019222108 40 21,900 SH   DFND 1 21,900 0 0
ALLIED NEVADA GOLD CORP COM 019344100 32 36,800 SH   DFND 1 36,800 0 0
AMERICAN SUPERCONDUCTOR CORP COM 030111108 194 261,759 SH   DFND 1 261,759 0 0
ANCHOR BANCORP WA COM 032838104 1,535 75,251 SH   DFND 1 75,251 0 0
ARCA BIOPHARMA INC COM NEW 00211Y209 81 85,266 SH   DFND 1 85,266 0 0
AVALON RARE METALS INC COM 053470100 62 307,000 SH   DFND 1 307,000 0 0
BANCORP INC DEL COM 05969A105 9,477 870,205 SH   DFND 1 870,205 0 0
BANK AMER CORP COM 060505104 4,902 274,000 SH   DFND 1 274,000 0 0
BG MEDICINE INC COM 08861T107 86 185,637 SH   DFND 1 185,637 0 0
BIOLIFE SOLUTIONS INC COM NEW 09062W204 179 109,073 SH   DFND 1 109,073 0 0
BLACKBERRY LTD COM 09228F103 1,647 150,000 SH   DFND 1 150,000 0 0
CENTRAL FD CDA LTD CL A 153501101 1,390 120,000 SH   DFND 1 120,000 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 1,626 40,000 SH   DFND 1 40,000 0 0
CERES INC COM 156773103 171 713,514 SH   DFND 1 713,514 0 0
CHARLES & COLVARD LTD COM 159765106 167 90,861 SH   DFND 1 90,861 0 0
CHC GROUP LTD SHS G07021101 3,783 1,174,896 SH   DFND 1 1,174,896 0 0
CLEVELAND BIOLABS INC COM 185860103 164 575,455 SH   DFND 1 575,455 0 0
CONNS INC COM 208242107 1,583 84,677 SH   DFND 1 84,677 0 0
CYTRX CORP COM PAR $.001 232828509 186 67,945 SH   DFND 1 67,945 0 0
DARA BIOSCIENCES INC COM PAR $ 23703P304 239 271,283 SH   DFND 1 271,283 0 0
DELCATH SYS INC COM NEW 24661P401 64 53,210 SH   DFND 1 53,210 0 0
ECA MARCELLUS TR I COM UNIT 26827L109 190 60,639 SH   DFND 1 60,639 0 0
ELLIS PERRY INTL INC COM 288853104 3,047 117,500 SH   DFND 1 117,500 0 0
ENTROPIC COMMUNICATIONS INC COM 29384R105 225 88,901 SH   DFND 1 88,901 0 0
ENVIVIO INC COM 29413T106 139 103,508 SH   DFND 1 103,508 0 0
ETFS PLATINUM TR SH BEN INT 26922V101 351 3,000 SH   DFND 1 3,000 0 0
EXONE CO COM 302104104 168 10,000 SH   DFND 1 10,000 0 0
EXONE CO COM 302104104 168 10,000 SH Put DFND 1 10,000 0 0
FEMALE HEALTH CO COM 314462102 194 49,396 SH   DFND 1 49,396 0 0
FIFTH STR SR FLOATNG RATE CO COM 31679F101 141 13,800 SH   DFND 1 13,800 0 0
FORBES ENERGY SVCS LTD COM 345143101 1,494 1,234,869 SH   DFND 1 1,234,869 0 0
GALECTIN THERAPEUTICS INC COM NEW 363225202 195 56,288 SH   DFND 1 56,288 0 0
GRAN TIERRA ENERGY INC COM 38500T101 190 49,400 SH   DFND 1 49,400 0 0
HANSEN MEDICAL INC COM 411307101 176 317,210 SH   DFND 1 317,201 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 106 58,805 SH   DFND 1 58,805 0 0
HERZFELD CARIBBEAN BASIN FD COM 42804T106 455 51,217 SH   DFND 1 51,217 0 0
HYPERDYNAMICS CORP COM NEW 448954206 120 155,550 SH   DFND 1 155,550 0 0
IKANOS COMMUNICATIONS COM 45173E105 173 558,124 SH   DFND 1 558,124 0 0
JPMORGAN CHASE & CO COM 46625H100 1,877 30,000 SH   DFND 1 30,000 0 0
LAKELAND INDS INC COM 511795106 1,320 140,870 SH   DFND 1 140,870 0 0
LIVEDEAL INC COM NEW 538144304 31 10,000 SH   DFND 1 10,000 0 0
LIVEDEAL INC COM NEW 538144304 31 10,000 SH Put DFND 1 10,000 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 759 51,884 SH   DFND 1 51,884 0 0
MAST THERAPEUTICS INC COM 576314108 242 432,007 SH   DFND 1 432,007 0 0
MEI PHARMA INC COM NEW 55279B202 534 125,000 SH   DFND 1 125,000 0 0
MICROSOFT CORP COM 594918104 4,403 94,787 SH   DFND 1 94,787 0 0
MILLENNIAL MEDIA INC COM 60040N105 201 125,636 SH   DFND 1 125,636 0 0
MOSYS INC COM 619718109 224 119,952 SH   DFND 1 119,952 0 0
NANOSPHERE INC COM 63009F105 178 454,752 SH   DFND 1 454,752 0 0
NEW YORK & CO INC COM 649295102 85 32,175 SH   DFND 1 32,175 0 0
NOVACOPPER INC COM 66988K102 90 180,500 SH   DFND 1 180,500 0 0
ON TRACK INNOVATION LTD SHS M8791A109 191 115,606 SH   DFND 1 115,606 0 0
ONCONOVA THERAPEUTICS INC COM 68232V108 165 50,064 SH   DFND 1 50,064 0 0
OXIGENE INC COM PAR$.001 691828404 198 122,908 SH   DFND 1 122,908 0 0
POTASH CORP SASK INC COM 73755L107 2,296 65,000 SH   DFND 1 65,000 0 0
PRANA BIOTECHNOLOGY LTD SPONSORED ADR 739727105 178 108,681 SH   DFND 1 108,681 0 0
PROFIRE ENERGY INC COM 74316X101 189 82,905 SH   DFND 1 82,905 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 93 11,200 SH   DFND 1 11,200 0 0
RANDGOLD RES LTD ADR 752344309 2,758 40,911 SH   DFND 1 40,911 0 0
RARE ELEMENT RES LTD COM 75381M102 95 256,000 SH   DFND 1 256,000 0 0
REVOLUTION LIGHTING TECHNOLO COM 76155G107 214 158,308 SH   DFND 1 158,308 0 0
ROSETTA GENOMICS LTD SHS NEW NIS 0.6 M82183126 194 86,016 SH   DFND 1 86,016 0 0
SAMSON OIL & GAS LTD SPON ADR 796043107 157 795,994 SH   DFND 1 795,994 0 0
SANDRIDGE MISSISSIPPIAN TR I UNIT BEN INT 80007T101 166 55,116 SH   DFND 1 55,116 0 0
SCORPIO BULKERS INC SHS Y7546A106 194 98,504 SH   DFND 1 98,504 0 0
SEQUANS COMMUNICATIONS S A SPONSORED ADS 817323108 188 158,039 SH   DFND 1 158,039 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 1,574 36,484 SH   DFND 1 36,484 0 0
SPDR S&P 500 ETF TR CALL 78462F903 9,249 45,000 SH Call DFND 1 45,000 0 0
SPHERE 3D CORP COM 84841Q109 165 31,400 SH   DFND 1 31,400 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 3,029 310,000 SH   DFND 1 310,000 0 0
STEREOTAXIS INC COM NEW 85916J409 212 143,417 SH   DFND 1 143,417 0 0
SUNCOKE ENERGY INC COM 86722A103 2,903 150,100 SH   DFND 1 150,100 0 0
SUPPORT COM INC COM 86858W101 197 93,370 SH   DFND 1 93,370 0 0
TASMAN METALS LTD COM 87652B103 30 70,500 SH   DFND 1 70,500 0 0
TEARLAB CORP COM 878193101 184 69,325 SH   DFND 1 69,325 0 0
TEMPUR SEALY INTL INC COM 88023U101 2,276 41,458 SH   DFND 1 41,458 0 0
TGC INDS INC COM NEW 872417308 209 96,940 SH   DFND 1 96,940 0 0
U S ENERGY CORP WYO COM 911805109 85 57,260 SH   DFND 1 57,260 0 0
UNITED STATES ANTIMONY CORP COM 911549103 76 109,244 SH   DFND 1 109,244 0 0
UQM TECHNOLOGIES INC COM 903213106 176 225,084 SH   DFND 1 225,084 0 0
VISTEON CORP COM NEW 92839U206 4,809 45,000 SH   DFND 1 45,000 0 0
VRINGO INC COM 92911N104 190 346,299 SH   DFND 1 346,299 0 0
WESTELL TECHNOLOGIES INC CL A 957541105 222 147,846 SH   DFND 1 147,846 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 3,249 66,000 SH   DFND 1 66,000 0 0
ZHONE TECHNOLOGIES INC NEW COM NEW 98950P884 192 108,235 SH   DFND 1 108,235 0 0
ZILLOW INC PUT 98954A957 2,647 25,000 SH Put DFND 1 25,000 0 0
ZOGENIX INC COM 98978L105 423 308,671 SH   DFND 1 308,671 0 0