<SEC-DOCUMENT>0001420506-13-000167.txt : 20130814
<SEC-HEADER>0001420506-13-000167.hdr.sgml : 20130814
<ACCEPTANCE-DATETIME>20130814173030
ACCESSION NUMBER:		0001420506-13-000167
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130630
FILED AS OF DATE:		20130814
DATE AS OF CHANGE:		20130814
EFFECTIVENESS DATE:		20130814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOPHROSYNE CAPITAL LLC
		CENTRAL INDEX KEY:			0001507758
		IRS NUMBER:				203817380

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-14700
		FILM NUMBER:		131038117

	BUSINESS ADDRESS:	
		STREET 1:		156 EAST 36TH STREET
		STREET 2:		2 SNIFFEN COURT
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212 444 2500

	MAIL ADDRESS:	
		STREET 1:		156 EAST 36TH STREET
		STREET 2:		2 SNIFFEN COURT
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <filer>
        <credentials>
          <cik>0001507758</cik>
          <ccc>XXXXXXXX</ccc>
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      </filer>
      <periodOfReport>06-30-2013</periodOfReport>
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  <formData>
    <coverPage>
      <reportCalendarOrQuarter>06-30-2013</reportCalendarOrQuarter>
      <!--Amendment-->
      <isAmendment>false</isAmendment>
      <!--Institutional Investment Manager-->
      <filingManager>
        <name>SOPHROSYNE CAPITAL LLC</name>
        <address>
          <ns1:street1>156 EAST 36TH STREET</ns1:street1>
          <ns1:street2>2 SNIFFEN COURT</ns1:street2>
          <ns1:city>NEW YORK</ns1:city>
          <ns1:stateOrCountry>NY</ns1:stateOrCountry>
          <ns1:zipCode>10016</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-14700</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <!--Signature-->
    <signatureBlock>
      <name>Benjamin Taylor</name>
      <title>Managing Member of General Partner</title>
      <phone>212 444 2500</phone>
      <signature>Benjamin Taylor, Managing Member of General Partner</signature>
      <city>NEW YORK</city>
      <stateOrCountry>NY</stateOrCountry>
      <signatureDate>08-01-2013</signatureDate>
    </signatureBlock>
    <!--Summary Page-->
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>52</tableEntryTotal>
      <tableValueTotal>127505</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
<FILENAME>Form13F_InfoTable.xml
<DESCRIPTION>INFORMATION TABLE FOR SOPHROSYNE CAPITAL LLC
<TEXT>
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		<nameOfIssuer>ACCURAY INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>4397105</cusip>
		<value>1996</value>
		<shrsOrPrnAmt>
			<sshPrnamt>347766</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
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			<None>347766</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ACELRX PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>00444T100</cusip>
		<value>6794</value>
		<shrsOrPrnAmt>
			<sshPrnamt>732896</sshPrnamt>
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		<nameOfIssuer>ADECOAGRO S A</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>L00849106</cusip>
		<value>89</value>
		<shrsOrPrnAmt>
			<sshPrnamt>14300</sshPrnamt>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>14300</None>
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	<infoTable>
		<nameOfIssuer>ALTISOURCE PORTFOLIO SOLNS S</nameOfIssuer>
		<titleOfClass>REG SHS</titleOfClass>
		<cusip>L0175J104</cusip>
		<value>2395</value>
		<shrsOrPrnAmt>
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	<infoTable>
		<nameOfIssuer>BIODELIVERY SCIENCES INTL IN</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>09060J106</cusip>
		<value>5987</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1474906</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>1474906</None>
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	<infoTable>
		<nameOfIssuer>CALIX INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>13100M509</cusip>
		<value>10952</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1084206</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
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			<None>1084206</None>
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	<infoTable>
		<nameOfIssuer>CANADIAN PAC RY LTD</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>13645T100</cusip>
		<value>229</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1885</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>1885</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CARDIONET INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>14159L103</cusip>
		<value>11479</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1945672</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>1945672</None>
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	<infoTable>
		<nameOfIssuer>CARDIOVASCULAR SYS INC DEL</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>141619106</cusip>
		<value>3739</value>
		<shrsOrPrnAmt>
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			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>176341</None>
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		<nameOfIssuer>CATALYST PHARM PARTNERS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>14888U101</cusip>
		<value>458</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>510000</None>
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		<nameOfIssuer>COASTAL CONTACTS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>19044R207</cusip>
		<value>2887</value>
		<shrsOrPrnAmt>
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		<nameOfIssuer>CORONADO BIOSCIENCES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>21976U109</cusip>
		<value>1588</value>
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		<nameOfIssuer>CUTERA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>232109108</cusip>
		<value>1038</value>
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		<nameOfIssuer>ECOLAB INC</nameOfIssuer>
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		<value>94</value>
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		<nameOfIssuer>ENVIVIO INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>29413T106</cusip>
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		<nameOfIssuer>F M C CORP</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>302491303</cusip>
		<value>180</value>
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		<nameOfIssuer>GASLOG LTD</nameOfIssuer>
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		<value>18</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>1400</None>
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		<nameOfIssuer>HUDSON TECHNOLOGIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>444144109</cusip>
		<value>408</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
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		<nameOfIssuer>ICAD INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>44934S206</cusip>
		<value>1374</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>228891</None>
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		<nameOfIssuer>IMPAX LABORATORIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
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		<value>1803</value>
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			<None>90400</None>
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		<titleOfClass>COM</titleOfClass>
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		<value>211</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>16000</None>
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		<nameOfIssuer>LIMONEIRA CO</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>532746104</cusip>
		<value>490</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>23629</None>
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		<nameOfIssuer>LOGITECH INTL S A</nameOfIssuer>
		<titleOfClass>SHS</titleOfClass>
		<cusip>H50430232</cusip>
		<value>663</value>
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			<sshPrnamt>94200</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>94200</None>
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		<nameOfIssuer>MEETME INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>585141104</cusip>
		<value>3941</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>2417959</None>
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		<nameOfIssuer>MFC INDL LTD</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>55278T105</cusip>
		<value>2300</value>
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			<sshPrnamt>285000</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>285000</None>
		</votingAuthority>
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		<nameOfIssuer>MICROSTRATEGY INC</nameOfIssuer>
		<titleOfClass>CL A NEW</titleOfClass>
		<cusip>594972408</cusip>
		<value>10824</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>124463</None>
		</votingAuthority>
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		<nameOfIssuer>NET 1 UEPS TECHNOLOGIES INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
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		<value>6981</value>
		<shrsOrPrnAmt>
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			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
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			<Shared>0</Shared>
			<None>948566</None>
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		<nameOfIssuer>NOVABAY PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
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		<value>1509</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1093596</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>1093596</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>OPTIMER PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>68401H104</cusip>
		<value>1454</value>
		<shrsOrPrnAmt>
			<sshPrnamt>100500</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>100500</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PANDORA MEDIA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>698354107</cusip>
		<value>946</value>
		<shrsOrPrnAmt>
			<sshPrnamt>51400</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>51400</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PARKERVISION INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>701354102</cusip>
		<value>465</value>
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			<sshPrnamt>102200</sshPrnamt>
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			<None>102200</None>
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		<nameOfIssuer>PHARMATHENE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>71714G102</cusip>
		<value>1280</value>
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			<sshPrnamt>804902</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>804902</None>
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		<nameOfIssuer>PICO HLDGS INC</nameOfIssuer>
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		<cusip>693366205</cusip>
		<value>354</value>
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			<sshPrnamt>16900</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>16900</None>
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		<nameOfIssuer>PROCERA NETWORKS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>74269U203</cusip>
		<value>3749</value>
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			<sshPrnamt>273000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>273000</None>
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		<nameOfIssuer>PURECYCLE CORP</nameOfIssuer>
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		<cusip>746228303</cusip>
		<value>3194</value>
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			<sshPrnamt>571384</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>571384</None>
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		<nameOfIssuer>RDA MICROELECTRONICS INC</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>749394102</cusip>
		<value>661</value>
		<shrsOrPrnAmt>
			<sshPrnamt>59700</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>59700</None>
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		<nameOfIssuer>RENTECH INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>760112102</cusip>
		<value>403</value>
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			<sshPrnamt>192057</sshPrnamt>
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			<Shared>0</Shared>
			<None>192057</None>
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		<nameOfIssuer>REPROS THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>76028H209</cusip>
		<value>4895</value>
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			<sshPrnamt>265300</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>265300</None>
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		<nameOfIssuer>S&amp;W SEED CO</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>785135104</cusip>
		<value>5116</value>
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			<sshPrnamt>610513</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>610513</None>
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		<nameOfIssuer>SAFE BULKERS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>Y7388L103</cusip>
		<value>239</value>
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			<sshPrnamt>44961</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>44961</None>
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		<nameOfIssuer>SAREPTA THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>803607100</cusip>
		<value>1019</value>
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			<sshPrnamt>26800</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>26800</None>
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		<nameOfIssuer>SEQUANS COMMUNICATIONS S A</nameOfIssuer>
		<titleOfClass>SPONSORED ADS</titleOfClass>
		<cusip>817323108</cusip>
		<value>1073</value>
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			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>711319</None>
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		<nameOfIssuer>SIGA TECHNOLOGIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>826917106</cusip>
		<value>4456</value>
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			<sshPrnamt>1568937</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
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			<None>1568937</None>
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		<nameOfIssuer>SMITH MICRO SOFTWARE INC</nameOfIssuer>
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		<cusip>832154108</cusip>
		<value>2994</value>
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			<sshPrnamt>2824201</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>2824201</None>
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		<nameOfIssuer>STREAMLINE HEALTH SOLUTIONS</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>86323X106</cusip>
		<value>557</value>
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			<sshPrnamt>84800</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>84800</None>
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		<nameOfIssuer>TEARLAB CORP</nameOfIssuer>
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		<cusip>878193101</cusip>
		<value>136</value>
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			<sshPrnamt>12800</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
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			<Shared>0</Shared>
			<None>12800</None>
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		<nameOfIssuer>TOWER SEMICONDUCTOR LTD</nameOfIssuer>
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		<cusip>M87915274</cusip>
		<value>317</value>
		<shrsOrPrnAmt>
			<sshPrnamt>66479</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
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			<Shared>0</Shared>
			<None>66479</None>
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		<nameOfIssuer>UBIQUITI NETWORKS INC</nameOfIssuer>
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		<cusip>90347A100</cusip>
		<value>4174</value>
		<shrsOrPrnAmt>
			<sshPrnamt>237963</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>237963</None>
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		<titleOfClass>COM</titleOfClass>
		<cusip>92262A107</cusip>
		<value>558</value>
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			<sshPrnamt>464919</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>464919</None>
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		<nameOfIssuer>VENTRUS BIOSCIENCES INC</nameOfIssuer>
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		<value>1400</value>
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			<sshPrnamt>583132</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Shared>0</Shared>
			<None>583132</None>
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		<cusip>92337C104</cusip>
		<value>3097</value>
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			<None>223043</None>
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		<nameOfIssuer>ZELTIQ AESTHETICS INC</nameOfIssuer>
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		<cusip>98933Q108</cusip>
		<value>3726</value>
		<shrsOrPrnAmt>
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			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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