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
AKEBIA THERAPEUTICS INC COM 00972D105 23,239 2,232,408 SH   SOLE   2,232,408 0 0
ARIAD PHARMACEUTICALS INC COM 04033A100 4,976 400,000 SH Put SOLE   400,000 0 0
ARIAD PHARMACEUTICALS INC COM 04033A100 6,220 500,000 SH Put SOLE   500,000 0 0
ARQULE INC COM 04269E107 11,760 9,333,541 SH   SOLE   9,333,541 0 0
BANCORP INC DEL COM 05969A105 27,618 3,513,697 SH   SOLE   3,513,697 0 0
BRIDGEPOINT ED INC COM 10807M105 17,973 1,774,198 SH   SOLE   1,774,198 0 0
CARDCONNECT CORP *W EXP 07/29/202 14141X116 1,423 447,363 SH   SOLE   447,363 0 0
CARDCONNECT CORP COM 14141X108 11,923 938,808 SH   SOLE   938,808 0 0
CHEMOCENTRYX INC COM 16383L106 3,459 467,455 SH   SOLE   467,455 0 0
CITI TRENDS INC COM 17306X102 15,229 808,349 SH   SOLE   808,349 0 0
CODEXIS INC COM 192005106 25,769 5,602,041 SH   SOLE   5,602,041 0 0
COGENTIX MED INC COM 19243A104 6,296 3,132,384 SH   SOLE   3,132,384 0 0
CORECIVIC INC COM 21871N101 7,338 300,000 SH Put SOLE   300,000 0 0
DEVRY ED GROUP INC COM 251893103 4,680 150,000 SH Put SOLE   150,000 0 0
DOLBY LABORATORIES INC COM 25659T107 41,932 927,907 SH   SOLE   927,907 0 0
DOLBY LABORATORIES INC COM 25659T107 18,076 400,000 SH Call SOLE   400,000 0 0
DOVER DOWNS GAMING & ENTMT I COM 260095104 1,315 1,276,311 SH   SOLE   1,276,311 0 0
DOVER MOTORSPORTS INC COM 260174107 3,969 1,725,789 SH   SOLE   1,725,789 0 0
ELDORADO RESORTS INC COM 28470R102 10,660 628,893 SH   SOLE   628,893 0 0
EMERGENT CAP INC COM 29102N105 2,433 2,010,970 SH   SOLE   2,010,970 0 0
EMMIS COMMUNICATIONS CORP COM NEW CL A 291525400 2,285 674,122 SH   SOLE   674,122 0 0
EVOLUTION PETROLEUM CORP COM 30049A107 6,883 688,282 SH   SOLE   688,282 0 0
EZCORP INC CL A NON VTG 302301106 4,116 386,494 SH   SOLE   386,494 0 0
EZCORP INC NOTE 2.625% 6/1 302301AB2 5,361 5,500,000 PRN   SOLE   5,500,000 0 0
FALCONSTOR SOFTWARE INC COM 306137100 1,456 3,235,818 SH   SOLE   3,235,818 0 0
FB FINL CORP COM 30257X104 1,298 50,000 SH   SOLE   50,000 0 0
FERRARI N V COM N3167Y103 7,504 129,064 SH   SOLE   129,064 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 7,296 800,000 SH Call SOLE   800,000 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 9,082 995,800 SH Call SOLE   995,800 0 0
FIRSTCASH INC COM 33767D105 40,630 864,472 SH   SOLE   864,472 0 0
GOLDEN ENTMT INC COM 381013101 12,278 1,013,860 SH   SOLE   1,013,860 0 0
IMPERIAL HLDGS INC NOTE 8.500% 2/1 452834AE4 7,561 9,970,000 PRN   SOLE   9,970,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 40,455 300,000 SH Put SOLE   300,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 53,940 400,000 SH Put SOLE   400,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 32,364 240,000 SH Put SOLE   240,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 26,970 200,000 SH Put SOLE   200,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 20,228 150,000 SH Put SOLE   150,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 40,455 300,000 SH Put SOLE   300,000 0 0
LINCOLN EDL SVCS CORP COM 533535100 4,558 2,373,899 SH   SOLE   2,373,899 0 0
LUXFER HLDGS PLC SPONSORED ADR 550678106 16,741 1,537,293 SH   SOLE   1,537,293 0 0
MARRIOTT VACATIONS WRLDWDE C COM 57164Y107 3,394 40,000 SH   SOLE   40,000 0 0
META FINL GROUP INC COM 59100U108 39,821 386,986 SH   SOLE   386,986 0 0
MFC BANCORP LTD COM 55278T105 659 337,978 SH   SOLE   337,978 0 0
OCWEN FINL CORP COM NEW 675746309 1,003 186,000 SH Call SOLE   186,000 0 0
ON DECK CAP INC COM 682163100 8,135 1,757,126 SH   SOLE   1,757,126 0 0
OWENS RLTY MTG INC COM 690828108 12,130 654,968 SH   SOLE   654,968 0 0
PAIN THERAPEUTICS INC COM 69562K100 1,955 3,429,353 SH   SOLE   3,429,353 0 0
PHARMATHENE INC COM 71714G102 10,407 3,202,045 SH   SOLE   3,202,045 0 0
QAD INC CL A 74727D306 23,072 758,954 SH   SOLE   758,954 0 0
RADIANT LOGISTICS INC COM 75025X100 6,022 1,544,154 SH   SOLE   1,544,154 0 0
REPUBLIC BANCORP KY CL A 760281204 291 7,371 SH   SOLE   7,371 0 0
RESTORATION HARDWARE HLDGS I COM 761283100 11,186 364,376 SH   SOLE   364,376 0 0
RESTORATION HARDWARE HLDGS I COM 761283100 3,070 100,000 SH Call SOLE   100,000 0 0
RESTORATION HARDWARE HLDGS I COM 761283100 9,210 300,000 SH Call SOLE   300,000 0 0
RESTORATION HARDWARE HLDGS I COM 761283100 9,210 300,000 SH Call SOLE   300,000 0 0
SCICLONE PHARMACEUTICALS INC COM 80862K104 23,426 2,169,043 SH   SOLE   2,169,043 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 16,614 1,186,689 SH   SOLE   1,186,689 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 9,800 700,000 SH Call SOLE   700,000 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 12,575 898,200 SH Call SOLE   898,200 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 42,000 3,000,000 SH Call SOLE   3,000,000 0 0
SEARS HLDGS CORP COM 812350106 4,645 500,000 SH Call SOLE   500,000 0 0
SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 41,081 1,040,817 SH   SOLE   1,040,817 0 0
SPARK THERAPEUTICS INC COM 84652J103 1,497 30,000 SH Call SOLE   30,000 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 27,785 500,000 SH Put SOLE   500,000 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 8,336 150,000 SH Put SOLE   150,000 0 0
STERLING CONSTRUCTION CO INC COM 859241101 2,179 257,604 SH   SOLE   257,604 0 0
STREAMLINE HEALTH SOLUTIONS COM 86323X106 1,838 1,470,063 SH   SOLE   1,470,063 0 0
TRANS WORLD ENTMT CORP COM 89336Q100 5,820 1,784,034 SH   SOLE   1,784,034 0 0
UNIQURE NV SHS N90064101 2,240 400,000 SH   SOLE   400,000 0 0
UNIVERSAL TECHNICAL INST INC COM 913915104 1,998 686,546 SH   SOLE   686,546 0 0
YAHOO INC COM 984332106 34,137 882,776 SH   SOLE   882,776 0 0