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
AMN HEALTHCARE SERVICES INC COM COM 001744101 3,835 250,155 SH   SOLE   250,155 0 0
CROSS COUNTRY HEALTHCARE INC COM COM 227483104 2,174 242,585 SH   SOLE   242,585 0 0
ESSEX RENTAL CORP COM COM 297187106 3,215 1,509,555 SH   SOLE   1,509,555 0 0
FELCOR LODGING TRUST INC PFD $ 1.95 SER A CONV/CALL PFD CV A $1.95 31430F200 7,684 298,424 SH   SOLE   298,424 0 0
FLY LEASING LTD COM COM 34407d109 16,587 1,351,852 SH   SOLE   1,351,852 0 0
GEO GROUP INC REIT COM COM 36159R103 4,926 130,966 SH   SOLE   130,966 0 0
SUMMIT HOTEL PPTYS INC COM COM 866082100 14,762 1,378,357 SH   SOLE   1,378,357 0 0
KOFAX LTD COM COM G5307C105 3,349 448,886 SH   SOLE   448,886 0 0
MBT FINANCIAL CORP COM COM 578877102 4,651 952,086 SH   SOLE   952,086 0 0
MOBILE MINI INC COM COM 60740F105 1,296 36,820 SH   SOLE   36,820 0 0
RAND LOGISTICS INC COM COM 752182105 8,178 1,476,126 SH   SOLE   1,476,126 0 0
RIVERVIEW BANCORP COM COM 769397100 1,851 477,002 SH   SOLE   477,002 0 0
SB FINANCIAL GROUP INC COM COM 78408d105 1,774 196,963 SH   SOLE   196,963 0 0
SCHULMAN A INC COM COM 808194104 11,476 335,850 SH   SOLE   335,850 0 0
SOTHERLY HOTELS INC COM COM 83600c103 6,936 906,729 SH   SOLE   906,729 0 0
TIMBERLAND BANCORP INC COM COM 887098101 1,346 125,335 SH   SOLE   125,335 0 0
U S CONCRETE INC COM COM 90333l201 16,389 640,932 SH   SOLE   640,932 0 0