SEC NEWS DIGEST Issue 2007-12 January 19, 2007 ENFORCEMENT PROCEEDINGS IN THE MATTER OF KELMOORE INVESTMENT COMPANY, INC. On January 18, the Commission issued Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, Section 203(e) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940 (Order) against Kelmoore Investment Company, Inc. (Kelmoore). The Order finds that the Palo Alto-based investment adviser purported to charge investors a 1% advisory fee. However, if Kelmoore had adequately disclosed all its advisory charges, the fees would have ranged from 1.5% to over 3%. Without admitting or denying the Commission's findings, Kelmoore agreed to pay a $100,000 penalty and to undertake certain compliance reforms. The Commission finds that from 1999 to 2005, Kelmoore acted as both investment adviser and securities broker for five mutual funds. Kelmoore's fund prospectuses and related documents informed investors that it charged an advisory fee totaling 1% of assets under management. According to the Order, these documents suggested that all of the significant advisory services performed by Kelmoore were covered by the 1% fee. However, the Commission's Order finds that Kelmoore failed to inform investors that the firm internally categorized most services it was providing as brokerage, rather than advisory, and was charging investors substantial brokerage commissions on top of the 1% fee. According to the Order, had Kelmoore actually calculated the fee in the manner suggested by its written disclosures, the fee would have been as high as 3.63%. As a result of the misleading disclosures, the Commission finds, it would have been difficult for investors to understand the actual amount they were paying for advisory services or make an informed investment decision when comparing the Kelmoore Funds to other mutual funds. The Order finds that Kelmoore violated Section 17(a)(3) of the Securities Act of 1933 and Section 34(b) of the Investment Company Act and requires Kelmoore to cease and desist from violating these provisions, pay a $100,000 penalty and undertake certain compliance reforms. (Rels. 33-8774; 34-55123; IA-2581; IC-27667; File No. 3- 12541) IN THE MATTER OF DOUGLAS WACHTEL (CPA) On January 19, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Douglas Wachtel. The Order finds that Wachtel, age 42, was a certified public accountant licensed to practice in the State of California at all relevant times prior to February 2004 and served as the Controller for NextCard, Inc. (NextCard) from 1998 to 2003. The Order also finds that on Sept. 28, 2004, the Commission filed a complaint against Wachtel and others entitled SEC v. Lent, et al., Civil Action No. 04-4088 (N.D. Cal.) and on Oct. 27, 2006, the court entered an order permanently enjoining Wachtel, by consent, from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, and aiding and abetting violations of Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rules 12b-20, 13a-1 and 13a-13 thereunder. The court also ordered Wachtel to pay disgorgement, prejudgment interest and civil monetary penalties totaling $93,223. The Order further finds that the Commission's complaint alleged, among other things, that Wachtel and the other defendants, all former officers of NextCard, engaged in a fraudulent scheme which resulted in NextCard filing materially false and misleading financial statements in the company's annual report on Form 10-K for the fiscal year ended Dec. 31, 2000, and in the company's quarterly reports on Form 10-Q for the first two quarters of fiscal year 2001. The complaint also alleged that Wachtel and the other defendants failed to disclose several changes in NextCard's accounting policies, including: (1) the reclassification of certain credit losses as fraud losses; and (2) changes in NextCard's policy for calculating its loan loss reserve. According to the complaint, as a result of these undisclosed accounting policy changes, investors were misled and denied material information concerning the rising levels of losses on NextCard's credit card portfolio. Based on the above, the Order suspends Douglas Wachtel from appearing or practicing before the Commission as an accountant, with a right to reapply after five years. Douglas Wachtel consented to the issuance of the Order without admitting or denying any of the findings in the Order. (Rel. 34-55133; AAE Rel. 2543; File No. 3-12542) SEC CHARGES CHICAGO HEDGE FUND MANAGER, JOHN FIFE, AND CLARION MANAGEMENT, LLC WITH FRAUD On January 18, the Commission filed a complaint in the U.S. District Court for the Northern District of Illinois against John M. Fife (Fife) and Clarion Management, LLC (Clarion Management). The complaint alleges that in 2002 and 2003, Fife and Clarion Management engaged in a fraudulent scheme to purchase variable annuity contracts issued by the Lincoln National Life Insurance Company (Lincoln) for Clarion Capital, LP (Clarion Capital) in order to engage in market timing. Clarion Capital was a Chicago hedge fund formed to market time international mutual funds available through variable annuities. According to the complaint, at all relevant times, Fife controlled Clarion Capital and carried out the scheme through Clarion Management, the hedge fund's general partner and unregistered investment adviser. Fife, age 46, is a resident of Chicago, Illinois. The complaint alleges that Fife and Clarion Management used deceptive tactics to purchase contracts and engage in market timing for the benefit of Clarion Capital. These tactics included using trusts and limited liability companies as nominee contract owners and beneficiaries to conceal Clarion Capital's financial interest in the variable annuity contracts. After the purchase of each contract, Fife and Clarion Management engaged in market timing until their activity was detected and restricted by Lincoln. The complaint also alleges that when Lincoln imposed certain trading restrictions, Fife and Clarion Management caused the trusts to surrender the contracts, and then used deceptive means to disguise the purchase of more variable annuity contracts, including using previously unused trusts and limited liability companies. Through this deception, the complaint alleges that Fife and Clarion Management made hundreds of thousands of dollars in profits for themselves at the expense of the other shareholders in the mutual funds. The complaint alleges that Fife and Clarion Management violated Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. The complaint also alleges that Fife violated Section 20(a) of the Exchange Act in his capacity as the control person of Clarion Management. The relief that the Commission is seeking includes disgorgement of Fife and Clarion Management's ill- gotten gains, plus prejudgment interest, and a civil penalty against Fife. [SEC v. John M. Fife and Clarion Management, LLC, No. 07-C-0347 (N.D. Ill.) (Kennelly, J)] (LR-19972) INVESTMENT COMPANY ACT RELEASES ZIEGLER EXCHANGE TRADED TRUST, ET AL. An order has been issued on an application filed by Ziegler Exchange Traded Trust, et al. The order permits: (a) series of registered open- end management investment companies to issue shares that can be redeemed only in large aggregations; (b) secondary market transactions in shares of the series to occur at negotiated prices; (c) dealers to sell the series' shares to purchasers in the secondary market unaccompanied by a prospectus when prospectus delivery is not required by the Securities Act of 1933; and (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series. (Rel. IC-27664 - January 18) PROSHARES TRUST, ET AL. An order has been issued on an application filed by ProShares Trust, et al. The order amends an existing order that permits: (a) series of an open-end management investment company to issue shares of limited redeemability; (b) secondary market transactions in the shares of the series to occur at negotiated prices; (c) dealers to sell shares of the series to purchasers in the secondary market unaccompanied by a prospectus, when prospectus delivery is not required by the Securities Act of 1933; and (d) certain affiliated persons of a series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of aggregations of the series' shares. The amended order permits the series described in the application for the prior order as well as certain new series to be offered using different equity securities indices. (Rel. IC-27666 - January 18) SELF-REGULATORY ORGANIZATIONS PROPOSED RULE CHANGES The American Stock Exchange filed a proposed rule change (SR-Amex- 2006-86) and Amendment Nos. 1, 2, and 3 relating to the listing and trading of shares of the PowerShares DB US Dollar Index Bullish Fund and the PowerShares DB US Dollar Index Bearish Fund. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55110) A proposed rule change (SR-Phlx-2006-31) and Amendment Nos. 1 and 2 thereto has been filed by the Philadelphia Stock Exchange relating to limit orders submitted by Streaming Quote Traders pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55121) APPROVAL OF PROPOSED RULE CHANGES The Commission granted approval to a proposed rule change (SR-Phlx- 2006-59), as modified by Amendments No. 1 and 2 thereto, by the Philadelphia Stock Exchange relating to an amendment to a Philadelphia Board of Trade Market Data Distribution Network fee. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55111) A proposed rule change (SR-Phlx-2006-81) filed by the Philadelphia Stock Exchange relating to the establishment of a maximum number of quoting participants permitted in a particular option on the Exchange has been granted approval pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55114) The Commission approved a proposed rule change (SR-NYSE-2006-110) submitted by the New York Stock Exchange relating to its Linkage Order Fee. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55120) ACCELERATED APPROVAL OF PROPOSED RULE CHANGE The Commission granted accelerated approval to a proposed rule change (SR-NYSE-2006-101), as modified by Amendments No. 1 and 2 thereto, filed by the New York Stock Exchange adopting generic listing standards for exchange-traded funds based on international or global indexes or indexes previously approved by the Commission as underlying benchmarks for derivative securities. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55113) IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change filed by The NASDAQ Stock Market regarding application of membership fees (SR-NASDAQ-2006-059) has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 22. (Rel. 34-55119) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. 20549-1090 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-8 PLAYERS NETWORK, 4620 POLARIS AVE, LAS VEGAS, NV, 89103, 310,715 ($59,035.85) Equity, (File 333-140050 - Jan. 18) (BR. 11C) S-8 APPLIED MICRO CIRCUITS CORP, 215 MOFFETT PARK DRIVE, SUNNYVALE, CA, 94089, 8584509333 - 0 ($2,290,909.00) Equity, (File 333-140052 - Jan. 18) (BR. 10A) S-3 COMMERCE BANCSHARES INC /MO/, 1000 WALNUT, KANSAS CITY, MO, 64106, 8162342000 - 0 ($18,614,745.12) Equity, (File 333-140053 - Jan. 18) (BR. 07C) S-3 NOVADEL PHARMA INC, 25 MINNEAKONING ROAD, FLEMINGTON, NJ, 08822, 908-782-3431 - 14,207,935 ($22,022,300.00) Equity, (File 333-140054 - Jan. 18) (BR. 01B) SB-1 Chameleon Gems Inc., 502 EAST JOHN STREET, ROOM E, CARSON CITY, NV, 89706, 775-882-3072 - 2,500,000 ($21,250.00) Equity, (File 333-140055 - Jan. 18) (BR. 04) SB-2 CODY RESOURCES, INC., 2915 W. CHARLESTON BLVD, STE 7, LAS VEGAS, NV, 89102, 702-383-5862 - 390,000 ($39,000.00) Non-Convertible Debt, (File 333-140056 - Jan. 18) (BR. 04) N-2 RMR ASIA REAL ESTATE FUND, 400 CENTRE STREET, NEWTON, MA, 02458, 617 332-9530 - 0 ($10,000,000.00) Equity, (File 333-140057 - Jan. 18) (BR. ) S-8 Isilon Systems, Inc., 3101 WESTERN AVENUE, SEATTLE, WA, 98121, 206-315-7500 - 0 ($264,917,908.92) Equity, (File 333-140058 - Jan. 18) (BR. 03C) S-1 Tyco Electronics Group S.A., 17 BOULEVARD DE GRAND DUCHESSE CHARLOTTE, LUXEMBOURG, N4, L-1331, (352) 464-3401 - 0 ($1,000,000,000.00) Debt, (File 333-140061 - Jan. 18) (BR. 09) S-1 Tyco Healthcare Group S.A., 17 BOULEVARD DE GRAND DUCHESSE CHARLOTTE, LUXEMBOURG, N4, L-1331, (352) 464-3401 - 0 ($1,000,000,000.00) Debt, (File 333-140062 - Jan. 18) (BR. 09) S-8 EXCEL TECHNOLOGY INC, 41 RESEARCH WAY, E SETUAKET, NY, 11733, 631-784-6175 - 750,000 ($19,207,500.00) Equity, (File 333-140063 - Jan. 18) (BR. 10B) S-1 Topaz International Group S.A., 17 BOULEVARD DE GRAND DUCHESSE CHARLOTTE, LUXEMBOURG, N4, L-1331, (352) 464-3401 - 0 ($100,000,000.00) Debt, (File 333-140064 - Jan. 18) (BR. 09) SB-2 ECOSPHERE TECHNOLOGIES INC, 3515 S E LIONEL TERRACE, STUART, FL, 34996, 5612874846 - 30,870,025 ($10,770,552.00) Equity, (File 333-140065 - Jan. 18) (BR. 10B) S-8 Diamond Foods Inc, 1050 SOUTH DIAMOND STREET, STOCKTON, CA, 95205 7087, 209 467 6000 - 0 ($8,556,715.03) Equity, (File 333-140066 - Jan. 18) (BR. 04B) S-4 HEADWATERS INC, 10653 SOUTH RIVERFRONT PARKWAY, SUITE 300, SOUTH JORDAN, UT, 84095, 8019849400 - 0 ($172,068,750.00) Debt Convertible into Equity, (File 333-140067 - Jan. 18) (BR. 06A) S-8 ARTIFICIAL LIFE INC, 885 THIRD AVENUE, SUITE 2921, NEW YORK, NY, 10022, 2128294386 - 36,300,000 ($76,681,459.00) Equity, (File 333-140068 - Jan. 18) (BR. 03B) S-8 CISCO SYSTEMS INC, 170 WEST TASMAN DR, SAN JOSE, CA, 95134-1706, 4085264000 - 139,805 ($1,213,507.40) Equity, (File 333-140069 - Jan. 18) (BR. 03C) SB-2 Solar Night Industries, Inc., 4124 N. BROADWAY, SAINT LOUIS, MO, 63147, (877) 826-1991 - 56,484,000 ($9,958,770.00) Equity, (File 333-140070 - Jan. 18) (BR. ) S-8 MICROSEMI CORP, 2381 MORSE AVENUE, IRVINE, CA, 92614, 949-221-7100 - 0 ($18,762,211.95) Equity, (File 333-140071 - Jan. 18) (BR. 10B) S-1 EAGLE BROADBAND INC, 101 COURAGEOUS DRIVE, LEAGUE CITY, TX, 77573, 2815386000 - 4,200,000 ($1,953,000.00) Equity, (File 333-140072 - Jan. 18) (BR. 11C) S-3ASR LEXINGTON REALTY TRUST, ONE PENN PLAZA, SUITE 4015, NEW YORK, NY, 10119, (212) 692-7200 - 39,014,267 ($831,394,029.77) Equity, (File 333-140073 - Jan. 18) (BR. 08B) S-3 FORCE PROTECTION INC, 9801 HIGHWAY 78 - BLDG 3, LADSON, SC, 29456, (843) 740-7015 - 0 ($253,630,000.00) Equity, (File 333-140074 - Jan. 18) (BR. 05A) S-3ASR ALNYLAM PHARMACEUTICALS, INC., 300 THIRD STREET, CAMBRIDGE, MA, 02142, (617) 551-8200 - 361,990 ($7,895,001.90) Equity, (File 333-140076 - Jan. 18) (BR. 01B) S-3 GERON CORP, 230 CONSTITUTION DRIVE, MENLO PARK, CA, 94025, 6504737700 - 111,857 ($969,800.00) Other, (File 333-140077 - Jan. 18) (BR. 01A) S-3 BEIJING MED PHARM CORP, 1180 MAIN ST, COVENTRY, CT, 06238, 860-538-6630 - 4,449,917 ($29,191,455.00) Equity, (File 333-140078 - Jan. 18) (BR. 09B) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant's Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics 6.01. ABS Informational and Computational Material. 6.02. Change of Servicer or Trustee. 6.03. Change in Credit Enhancement or Other External Support. 6.04. Failure to Make a Required Distribution. 6.05. Securities Act Updating Disclosure. 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. 20549-1090 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE NAME OF ISSUER CODE 8K ITEM NO. DATE COMMENT ------------------------------------------------------------------------------------------------------- 3D SYSTEMS CORP DE 7.01,8.01,9.01 01/18/07 ACADIA REALTY TRUST MD 8.01 01/08/07 ACCO BRANDS CORP DE 2.02,9.01 01/17/07 ACROSS AMERICA REAL ESTATE CORP CO 7.01,9.01 01/17/07 ADVENTRX PHARMACEUTICALS INC DE 5.02 01/12/07 AFV SOLUTIONS, INC. NV 4.01 01/16/07 AJS BANCORP INC DE 2.02,9.01 01/18/07 ALABAMA NATIONAL BANCORPORATION DE 5.02,9.01 01/17/07 Alexza Pharmaceuticals Inc. DE 7.01,9.01 01/18/07 ALLIANCE LAUNDRY SYSTEMS LLC 5.02 01/15/07 ALLIANCE SEMICONDUCTOR CORP /DE/ DE 8.01,9.01 01/17/07 AMARU INC NV 1.01,9.01 01/15/07 AMARU INC NV 5.02 01/08/07 AMEND AMERICA FIRST APARTMENT INVESTORS INC MD 8.01 01/16/07 AMERICAN EQUITY INVESTMENT LIFE HOLDI IA 7.01,9.01 01/16/07 AMERICAN REAL ESTATE HOLDINGS L P DE 1.01,2.03,9.01 01/11/07 AMERICAN RIVER BANKSHARES CA 2.02,9.01 01/18/07 AMERICAN RIVER BANKSHARES CA 8.01,9.01 01/18/07 American Telecom Services Inc 8.01,9.01 01/18/07 AmeriCredit Automobile Receivables Tr 8.01,9.01 01/18/07 ANALYTICAL SURVEYS INC CO 5.02,9.01 01/18/07 APACHE CORP DE 8.01,9.01 01/18/07 APOLLO GROUP INC AZ 3.01,5.02,9.01 01/11/07 APOLLO INVESTMENT CORP MD 8.01,9.01 01/18/07 Apple REIT Seven, Inc. VA 9.01 11/03/06 AMEND APPLIED INDUSTRIAL TECHNOLOGIES INC OH 2.02,9.01 01/18/07 ARADYME CORP DE 5.02 01/16/07 ARGENTEX MINING CORP NV 3.02 01/17/07 ARIAD PHARMACEUTICALS INC DE 5.02 01/13/07 ASBURY AUTOMOTIVE GROUP INC DE 5.02,9.01 01/17/07 ASBURY AUTOMOTIVE GROUP INC DE 7.01,9.01 01/17/07 Ascent Solar Technologies, Inc. DE 8.01,9.01 01/18/07 ASIA PAYMENT SYSTEMS INC NV 1.01,3.02,9.01 10/31/06 AMEND ASSOCIATED BANC-CORP WI 2.02,9.01 01/18/07 Avantogen Oncology, Inc. NV 5.02,9.01 01/11/07 AVEROX INC. NV 4.01,9.01 11/13/06 AMEND AVEROX INC. NV 4.01,9.01 11/13/06 AMEND AVERY DENNISON CORPORATION DE 8.01 01/18/07 BA Credit Card Funding, LLC DE 8.01,9.01 01/18/07 BALLISTIC RECOVERY SYSTEMS INC MN 1.01,3.02,9.01 01/10/07 BANDAG INC IA 3.03 01/16/07 BANK OF GRANITE CORP DE 5.02 01/18/07 AMEND BANK OF NEW YORK CO INC NY 2.02,9.01 12/31/06 BANK OF SOUTH CAROLINA CORP SC 2.02,9.01 01/18/07 BARRIER THERAPEUTICS INC DE 8.01,9.01 01/17/07 BASIC EARTH SCIENCE SYSTEMS INC DE 8.01 01/18/07 BB&T CORP NC 2.02,9.01 12/31/06 BESTNET COMMUNICATIONS CORP NV 9.01 01/08/07 AMEND BIO KEY INTERNATIONAL INC MN 8.01,9.01 01/12/07 BLACKBAUD INC 2.01,9.01 01/16/07 BLUE HOLDINGS, INC. NV 1.01,9.01 01/12/07 BNC BANCORP NC 8.01,9.01 01/18/07 BRIGGS & STRATTON CORP WI 2.02,9.01 01/18/07 BRUNSWICK CORP DE 5.02,9.01 01/18/07 BUILD A BEAR WORKSHOP INC DE 1.01,5.02,9.01 01/16/07 Burlington Coat Factory Investments H 7.01,9.01 01/16/07 Burlington Coat Factory Investments H 7.01,9.01 01/18/07 AMEND CACI INTERNATIONAL INC /DE/ DE 2.02,7.01 01/17/07 CALIFORNIA MICRO DEVICES CORP CA 2.02,9.01 01/18/07 CAS MEDICAL SYSTEMS INC DE 2.02,5.02,9.01 01/17/07 CATALYTICA ENERGY SYSTEMS INC DE 5.02 01/11/07 CATCHER HOLDINGS, INC 5.02 01/11/07 CEL SCI CORP CO 8.01 01/16/07 CENTENNIAL COMMUNICATIONS CORP /DE DE 2.02,9.01 01/18/07 CENTRAL VERMONT PUBLIC SERVICE CORP VT 1.01,8.01,9.01 01/12/07 CERAGENIX PHARMACEUTICALS, INC. DE 7.01,9.01 01/17/07 CHARMING SHOPPES INC PA 7.01,9.01 01/17/07 CHILDRENS PLACE RETAIL STORES INC 8.01 01/15/07 China Housing & Land Development, Inc NV 4.01,9.01 12/29/06 CHITTENDEN CORP /VT/ VT 2.02,9.01 12/31/06 CHURCHILL DOWNS INC KY 5.02,9.01 01/17/07 CITIZENS BANKING CORP MI 2.02,9.01 01/18/07 CLARCOR INC DE 2.02,9.01 01/17/07 CLARIENT, INC DE 1.01,2.03 01/11/07 CLARKE AMERICAN CORP. DE 5.02,9.01 01/16/07 CLAYTON WILLIAMS ENERGY INC /DE DE 5.02,9.01 01/15/07 CLEAR CHANNEL COMMUNICATIONS INC TX 8.01 01/12/07 CLINICAL DATA INC DE 7.01,9.01 01/17/07 CNH WHOLESALE RECEIVABLES LLC DE 8.01,9.01 01/16/07 CODORUS VALLEY BANCORP INC PA 2.02,9.01 01/17/07 COLDWATER CREEK INC DE 7.01,9.01 01/18/07 COLONY BANKCORP INC GA 5.03,9.01 01/16/07 Columbia Equity Trust, Inc. MD 8.01,9.01 01/18/07 COMERICA INC /NEW/ DE 2.01,7.01,9.01 01/18/07 COMMERCIAL BANKSHARES INC FL 2.02,9.01 01/18/07 COMMUNICATE COM INC NV 4.02,9.01 01/18/07 COMMUNITY BANKS INC /PA/ PA 2.02,8.01,9.01 12/31/06 COMMUNITY CAPITAL CORP /SC/ SC 7.01,9.01 01/18/07 COMMUNITY CENTRAL BANK CORP MI 5.02,9.01 01/12/07 COMPREHENSIVE CARE CORP DE 1.01,5.02,9.01 01/12/07 CONNECTICUT WATER SERVICE INC / CT CT 8.01,9.01 01/16/07 CONTINENTAL AIRLINES INC /DE/ DE 2.02,9.01 01/18/07 CONTINENTAL AIRLINES INC /DE/ DE 7.01,9.01 01/18/07 COREL CORP A6 2.02,9.01 01/18/07 COVANSYS CORP MI 2.02,3.01,8.01 01/12/07 CREE INC NC 2.02,9.01 01/18/07 CROGHAN BANCSHARES INC OH 5.02 12/12/06 CVS CORP DE 8.01,9.01 01/16/07 CYBEX INTERNATIONAL INC NY 7.01,9.01 01/17/07 DCB FINANCIAL CORP OH 2.02,9.01 01/18/07 DealerTrack Holdings, Inc. DE 1.01,7.01 01/16/07 DEARBORN BANCORP INC /MI/ MI 2.02,9.01 01/16/07 DEB SHOPS INC PA 5.02,9.01 01/15/07 Diagnostic CORP of America DE 3.02 01/08/07 Diamond Foods Inc DE 8.01,9.01 01/18/07 DiamondRock Hospitality Co 7.01,8.01,9.01 01/17/07 DIGI INTERNATIONAL INC DE 2.02,9.01 01/18/07 DIGITAL INSIGHT CORP DE 8.01,9.01 01/17/07 DORCHESTER MINERALS LP DE 2.02,7.01,9.01 12/31/06 DOUBLE EAGLE PETROLEUM CO MD 7.01,9.01 01/18/07 DOUBLE EAGLE PETROLEUM CO MD 7.01,8.01,9.01 01/18/07 DOWNEY FINANCIAL CORP DE 2.02,9.01 12/31/06 DSA FINANCIAL CORP 2.02,9.01 01/12/07 DTLL INC MN 8.01 01/17/07 E TRADE FINANCIAL CORP DE 2.02,9.01 01/18/07 EAGLE BANCORP INC MD 2.02,9.01 01/18/07 EAGLE BANCORP/MT 2.02 01/18/07 EAGLE BROADBAND INC TX 2.02,9.01 01/16/07 ECOLLEGE COM DE 2.02,9.01 01/17/07 Electronic Sensor Technology, Inc 1.01 01/16/07 EMAGIN CORP DE 1.01,3.02,5.02,9.01 01/11/07 Emergency Medical Services CORP DE 7.01,9.01 01/17/07 ENTERGY CORP /DE/ DE 2.02,9.01 01/18/07 ENVIROKARE TECH INC NV 7.01,9.01 01/18/07 EPICEPT CORP 3.01 01/10/07 EPICEPT CORP 1.01,5.02 01/08/07 AMEND EPIX Pharmaceuticals, Inc. 1.01,9.01 12/11/06 AMEND EQUITY OFFICE PROPERTIES TRUST MD 8.01,9.01 01/17/07 FAIRCHILD CORP DE 8.01,9.01 01/17/07 FAMILYMEDS GROUP, INC. NV 3.01,9.01 01/16/07 FBL FINANCIAL GROUP INC IA 7.01 01/18/07 Federal Home Loan Bank of Atlanta X1 2.03 01/12/07 Federal Home Loan Bank of Boston X1 2.03 01/12/07 Federal Home Loan Bank of Chicago X1 2.03 01/16/07 Federal Home Loan Bank of Des Moines X1 2.03,9.01 01/16/06 Federal Home Loan Bank of Indianapoli X1 2.03,9.01 01/12/07 Federal Home Loan Bank of New York X1 2.03,9.01 01/16/07 Federal Home Loan Bank of New York X1 2.02,8.01,9.01 01/18/07 Federal Home Loan Bank of New York X1 5.02 11/03/06 AMEND Federal Home Loan Bank of Pittsburgh PA 2.03,9.01 01/12/07 Federal Home Loan Bank of San Francis X1 2.03 01/12/07 Federal Home Loan Bank of Seattle 2.03 01/17/07 Federal Home Loan Bank of Topeka 2.03 01/16/07 FEDERAL SIGNAL CORP /DE/ DE 8.01,9.01 01/15/07 FIDELITY SOUTHERN CORP GA 5.02,9.01 01/18/07 FIFTH THIRD BANCORP OH 2.02,7.01,9.01 01/18/07 FINISH LINE INC /IN/ IN 8.01,9.01 01/18/07 FINOVA GROUP INC DE 1.01,2.01,2.05,5.02,9.01 01/12/07 FIRST AVIATION SERVICES INC DE 1.01,2.03,9.01 01/11/07 FIRST COMMONWEALTH FINANCIAL CORP /PA PA 5.02,9.01 01/16/07 FIRST FINANCIAL HOLDINGS INC /DE/ DE 2.02,9.01 01/18/07 FIRST INDIANA CORP IN 2.02,8.01,9.01 01/17/07 FIRST SOUTH BANCORP INC /VA/ VA 2.02,9.01 01/18/07 FNB CORP/FL/ FL 2.02,9.01 01/18/07 FORCE PROTECTION INC NV 1.01,9.01 01/11/07 FORLINK SOFTWARE CORP INC NV 3.03,5.03,9.01 01/16/07 FULTON FINANCIAL CORP PA 7.01,9.01 01/18/06 FUTURES PORTFOLIO FUND LP MD 4.01 01/18/07 GE Capital Credit Card Master Note Tr DE 8.01,9.01 01/16/07 GENAERA CORP DE 8.01,9.01 01/16/07 GENERAL ENVIRONMENTAL CORP/NH 5.03 01/09/07 GENERAL NUTRITION CENTERS, INC. 2.02,9.01 01/18/07 GENESIS HEALTHCARE CORP PA 1.01,3.03,9.01 01/18/07 George Foreman Enterprises Inc DE 3.01 01/17/07 GETTY IMAGES INC DE 7.01,9.01 01/18/07 GFR PHARMACEUTICALS INC NV 4.01,9.01 01/12/07 GLOBAL GOLD CORP DE 3.02,5.02 01/11/07 GLOBAL SUNRISE, Inc. CO 8.01,9.01 01/16/07 AMEND GLOWPOINT INC DE 2.02,9.01 01/18/07 Golden Century Technologies CORP DE 1.01,9.01 01/15/07 GRAFTECH INTERNATIONAL LTD DE 2.04 01/18/07 GRAMERCY CAPITAL CORP MD 2.02,7.01,9.01 01/17/07 Granite Master Issuer plc X0 8.01,9.01 01/17/07 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 12/31/06 GREATER COMMUNITY BANCORP NJ 5.02,8.01,9.01 01/16/07 Green Mountain Capital Inc. 2.03,3.02,9.01 01/11/07 GS FINANCIAL CORP LA 5.02,7.01,9.01 01/18/07 GSAMP Trust 2006-FM3 DE 8.01,9.01 12/21/06 GUESS INC DE 2.02,9.01 01/18/07 H&R BLOCK INC MO 1.01,2.03 01/16/07 HAMPSHIRE GROUP LTD DE 3.01,9.01 01/17/07 HANDHELD ENTERTAINMENT, INC. DE 1.01,3.02,8.01,9.01 01/17/07 HARLEY DAVIDSON INC WI 2.02,9.01 01/18/07 HAYNES INTERNATIONAL INC DE 5.02 01/12/07 HEALTH MANAGEMENT ASSOCIATES INC DE 8.01,9.01 01/18/07 HEALTH SCIENCES GROUP INC DE 1.01,9.01 01/17/07 HERCULES INC DE 1.01,2.05,2.06 01/16/07 HOKU SCIENTIFIC INC DE 5.02 01/13/07 HOME BANCSHARES INC 2.02,7.01,9.01 12/31/06 HOME FEDERAL BANCORP INC 2.02,9.01 01/18/07 HOOKER FURNITURE CORP VA 2.02,2.05,2.06,9.01 01/17/07 HORIZON BANCORP /IN/ IN 2.02,9.01 01/18/07 HORIZON FINANCIAL CORP WA 2.02,9.01 01/18/07 HOSPIRA INC DE 1.01,2.03,5.02,7.01,9.01 01/15/07 HUNTINGTON BANCSHARES INC/MD MD 2.02,9.01 01/18/07 HYDROGEN ENGINE CENTER, INC. NV 9.01 01/18/07 HYTHIAM INC DE 7.01,9.01 01/18/07 HYTHIAM INC DE 1.01,2.01,2.03,7.01,8.01,9.01 01/11/07 I MANY INC DE 1.01,9.01 01/15/07 IA GLOBAL INC DE 1.01 12/29/06 IBASIS INC DE 5.02 01/15/07 IBERIABANK CORP LA 2.02,7.01,9.01 01/12/07 ICOS CORP WA 2.02 01/18/07 ICP Solar Technologies Inc. 1.01,8.01,9.01 01/18/07 IMPSAT FIBER NETWORKS INC DE 8.01,9.01 01/17/07 IMVISION THERAPEUTICS INC. NV 4.01,9.01 01/12/07 IN VERITAS MEDICAL DIAGNOSTICS, INC. CO 1.01,2.03,9.01 01/11/07 INDEPENDENT BANK CORP MI 1.01,2.02,7.01,9.01 01/18/07 INLAND REAL ESTATE CORP MD 8.01,9.01 01/18/07 INSTEEL INDUSTRIES INC NC 2.02,9.01 01/18/07 INTEL CORP DE 5.03,9.01 01/17/07 INTERNATIONAL BUSINESS MACHINES CORP NY 2.02 01/18/07 INTERNATIONAL GAME TECHNOLOGY NV 2.02 01/18/07 INTERNATIONAL TEXTILE GROUP INC DE 2.05 01/11/07 INTERSTATE HOTELS & RESORTS INC DE 5.02 01/16/07 INVACARE CORP OH 2.02,7.01,9.01 01/17/07 ION MEDIA NETWORKS INC. DE 8.01,9.01 01/17/07 ISIS PHARMACEUTICALS INC DE 8.01,9.01 01/18/07 ITRONICS INC TX 1.01,2.03,3.02,9.01 01/11/07 J P MORGAN CHASE & CO DE 9.01 01/12/07 JEFFERIES GROUP INC /DE/ DE 2.02,9.01 01/18/07 Juniper Partners Acquisition Corp. DE 8.01,9.01 01/18/07 KBS Real Estate Investment Trust, Inc MD 1.01,8.01 01/11/07 Kearny Financial Corp. X1 8.01,9.01 01/18/07 KENTUCKY BANCSHARES INC /KY/ KY 9.01 01/18/07 KEYSTONE AUTOMOTIVE OPERATIONS INC PA 1.01,2.03,9.01 01/12/07 KNIGHT CAPITAL GROUP, INC. DE 2.02,7.01,9.01 01/18/07 KREISLER MANUFACTURING CORP DE 1.01,2.03,9.01 01/18/07 LAKELAND BANCORP INC NJ 2.02,9.01 01/18/07 LAMSON & SESSIONS CO OH 2.02,9.01 01/16/07 LAPOLLA INDUSTRIES INC DE 5.02,8.01 01/11/07 LB-UBS COMMERCIAL MORTGAGE TRUST 2006 1.01,9.01 10/04/06 AMEND LB-UBS COMMERCIAL MORTGAGE TRUST 2006 1.01,9.01 06/29/06 AMEND LEGACY RESERVES L P 1.01,7.01,9.01 01/11/07 LEUCADIA NATIONAL CORP NY 5.02,9.01 01/11/07 LEXINGTON REALTY TRUST MD 8.01,9.01 01/18/07 Lightstone Value Plus Real Estate Inv MD 1.01,9.01 01/11/07 LINEAR TECHNOLOGY CORP /CA/ DE 5.02,7.01,9.01 01/17/07 M & F WORLDWIDE CORP DE 5.02,9.01 01/16/07 M&F BANCORP INC /NC/ NC 1.01,5.02,9.01 01/10/07 MACE SECURITY INTERNATIONAL INC DE 8.01,9.01 01/17/07 MASTERCARD INC DE 5.02,9.01 01/17/07 MAXUS REALTY TRUST INC. 2.01,2.03 01/18/07 MCDONALDS CORP DE 2.02,9.01 01/17/07 MCMORAN EXPLORATION CO /DE/ DE 2.02,9.01 01/18/07 MEDecision, Inc. PA 2.02,9.01 01/17/07 MEDICALCV INC MN 5.02,8.01,9.01 01/15/07 Mercantile Bancorp, Inc. DE 8.01,9.01 01/17/07 MERRILL LYNCH & CO INC DE 2.02,9.01 01/18/07 MFB CORP IN 2.02,9.01 12/31/06 MIDLAND CO OH 2.02,9.01 01/18/07 MILLENNIUM CELL INC DE 3.02,7.01 01/16/07 MIRANT AMERICAS GENERATION LLC 1.01,9.01 01/15/07 MIRANT CORP DE 1.01,9.01 01/15/07 MIRANT CORP DE 5.02 01/16/07 Mirant North America, LLC DE 1.01,9.01 01/15/07 MOBILEPRO CORP DE 1.01,9.01 01/17/07 MODINE MANUFACTURING CO WI 2.02,9.01 12/26/06 MOLEX INC DE 2.02,9.01 01/18/07 MOLINA HEALTHCARE INC DE 7.01,9.01 01/18/07 NASHUA CORP MA 1.01,2.03,9.01 01/12/07 NATIONAL FINANCIAL PARTNERS CORP 8.01,9.01 01/17/07 NATURAL RESOURCE PARTNERS LP DE 7.01,9.01 01/18/07 Naugatuck Valley Financial Corp X1 8.01,9.01 01/17/07 NBTY INC DE 7.01,9.01 01/16/07 NETFLIX INC DE 5.02 01/01/07 NORTH BAY BANCORP/CA CA 1.01,7.01,9.01 01/16/07 O2DIESEL CORP 1.01,3.02,9.01 01/12/07 Odimo INC DE 1.01,1.02,2.01,5.02,8.01,9.01 01/11/07 OMEGA FINANCIAL CORP /PA/ PA 1.01 01/14/07 ONSCREEN TECHNOLOGIES INC CO 7.01 01/18/07 OSI PHARMACEUTICALS INC DE 5.02 01/12/07 OXIS INTERNATIONAL INC DE 1.01,5.02,5.03,9.01 01/11/07 PAR TECHNOLOGY CORP DE 2.01,9.01 11/02/04 PENNICHUCK CORP NH 8.01,9.01 01/16/07 PETROLEUM DEVELOPMENT CORP NV 2.01,9.01 01/10/07 PIZZA INN INC /MO/ MO 5.02 01/12/07 PLATO LEARNING INC DE 5.02 01/13/07 PLM EQUIPMENT GROWTH & INCOME FUND VI CA 2.01,9.01 01/18/07 PLUMAS BANCORP CA 2.02,9.01 01/17/07 PLX TECHNOLOGY INC DE 1.01,5.02,9.01 01/05/07 POLARIS INDUSTRIES INC/MN MN 5.02,7.01,9.01 01/18/07 PORTEC RAIL PRODUCTS INC WV 1.01,9.01 01/16/07 PPG INDUSTRIES INC PA 2.02,9.01 01/18/07 PREMIERWEST BANCORP OR 2.02,9.01 01/18/07 PRICE FUND I LP 4.01,9.01 01/12/07 PRICELINE COM INC DE 3.02 01/12/07 PRIMEDIA INC DE 7.01,9.01 01/18/07 PRINCIPAL FINANCIAL GROUP INC DE 7.01 01/18/07 PRINCIPAL LIFE INSURANCE CO IA 9.01 01/12/07 PRINCIPAL LIFE INSURANCE CO IA 9.01 01/12/07 PRINCIPAL LIFE INSURANCE CO IA 9.01 01/12/07 PROGRESS ENERGY INC NC 7.01,9.01 01/17/07 PROTECTIVE LIFE CORP DE 2.03 01/18/07 PROTECTIVE LIFE INSURANCE CO TN 2.03 01/18/07 PROVIDENT BANKSHARES CORP MD 2.02,5.03,8.01,9.01 01/17/07 PRUDENTIAL BANCORP INC OF PENNSYLVANI 7.01,9.01 01/17/07 Puda Coal, Inc. 4.02,9.01 01/08/07 AMEND QLT INC/BC A1 8.01 01/18/07 QUICKLOGIC CORPORATION CA 8.01,9.01 01/12/07 QUIXOTE CORP DE 8.01 01/17/07 Rand Logistics, Inc. DE 1.01,5.02,9.01 01/17/07 RANGE RESOURCES CORP DE 8.01,9.01 01/18/07 RBC Bearings INC 1.02 01/18/07 REPUBLIC BANCORP INC /KY/ KY 7.01,9.01 01/18/07 REPUBLIC BANCORP INC /KY/ KY 2.02,9.01 01/18/07 REPUBLIC FIRST BANCORP INC PA 2.02,9.01 12/31/06 Republic Property Trust MD 8.01 01/11/07 RG GLOBAL LIFESTYLES INC CA 4.01,9.01 01/08/07 Rockwood Holdings, Inc. DE 7.01,9.01 01/17/07 ROGERS INTERNATIONAL RAW MATERIALS FU 4.01,9.01 01/12/07 ROME BANCORP INC DE 4.02,5.02,9.01 01/12/07 ROYAL CARIBBEAN CRUISES LTD 8.01 01/18/07 ROYAL CARIBBEAN CRUISES LTD 2.03 01/18/07 SCANA CORP SC 2.02,9.01 01/18/07 SCBT FINANCIAL CORP SC 2.02,9.01 01/18/07 SEA CONTAINERS LTD /NY/ 8.01,9.01 01/17/07 SHALLBETTER INDUSTRIES INC 3.02,4.01,5.02,9.01 01/11/07 SHAW GROUP INC LA 1.01,8.01,9.01 01/18/07 SIERRA HEALTH SERVICES INC NV 3.02 01/18/07 SIERRA PACIFIC RESOURCES /NV/ NV 8.01,9.01 01/16/07 SIGMA DESIGNS INC CA 4.01,9.01 01/03/07 AMEND SIMMONS FIRST NATIONAL CORP AR 2.02 01/18/07 SINGING MACHINE CO INC DE 5.02 01/12/07 SKY FINANCIAL GROUP INC OH 2.02,9.01 01/18/07 SLM CORP DE 2.02 01/18/07 SMITHTOWN BANCORP INC NY 8.01 01/17/07 Solo Cup CO DE 5.02 01/12/07 SOLOMON TECHNOLOGIES INC DE 1.01,2.03,3.02,4.02,9.01 01/11/07 SOMANETICS CORP MI 2.02,9.01 01/18/07 SONTRA MEDICAL CORP MN 3.02,5.01 01/01/07 AMEND SOUTHERN CO DE 8.01,9.01 01/11/07 SOVEREIGN BANCORP INC PA 2.02,5.02,8.01,9.01 01/16/07 SPACEHAB INC \WA\ WA 2.05,9.01 01/12/07 STANDARD PACIFIC CORP /DE/ DE 5.02 01/17/07 STEELCASE INC MI 1.01,9.01 01/17/07 STEELCLOUD INC VA 2.02,9.01 01/10/07 STEELCLOUD INC VA 5.02,9.01 01/15/07 STRATEGIC GAMING INVESTMENTS, INC. DE 1.01,2.01,9.01 01/11/07 Strats(SM) Trust for JPMorgan Chase C 8.01,9.01 12/01/06 AMEND Strats(SM) Trust for JPMorgan Chase C 8.01,9.01 11/01/06 AMEND STRATTEC SECURITY CORP WI 2.02,9.01 01/18/07 SULPHCO INC NV 5.02,7.01,9.01 01/11/07 SUN HEALTHCARE GROUP INC DE 1.01,5.02,9.01 01/15/07 SYNERGETICS USA INC 4.01,9.01 01/09/07 AMEND SYPRIS SOLUTIONS INC DE 5.02,9.01 01/17/07 TASKER PRODUCTS CORP NV 5.02,9.01 01/11/07 TATONKA OIL & GAS, INC. CO 5.02,9.01 12/19/06 TEPPCO PARTNERS LP DE 5.02 01/18/07 TESSCO TECHNOLOGIES INC DE 2.02,9.01 01/17/07 TEXTRON INC DE 2.02,9.01 01/18/07 Timberline Resources Corp 4.02 01/12/06 TJX COMPANIES INC /DE/ DE 8.01,9.01 01/17/07 TOUCHSTONE SOFTWARE CORP /CA/ DE 8.01 01/18/07 TOWER TECH HOLDINGS INC. NV 7.01,9.01 01/17/07 TRACKPOWER INC WY 5.02 01/12/07 TRANSCEND SERVICES INC DE 1.01,2.01,7.01,9.01 01/16/07 TransDigm Group INC DE 8.01,9.01 01/17/07 TREX CO INC DE 8.01,9.01 01/12/07 TRIARC COMPANIES INC DE 8.01,9.01 01/18/07 TYCO INTERNATIONAL LTD /BER/ D0 7.01,9.01 01/18/07 TYSON FOODS INC DE 5.05,9.01 01/16/07 UMPQUA HOLDINGS CORP OR 1.01,9.01 01/18/07 UNITEDHEALTH GROUP INC MN 2.02,8.01,9.01 01/18/07 UNIVERSAL STAINLESS & ALLOY PRODUCTS DE 2.02,9.01 01/18/07 VAALCO ENERGY INC /DE/ DE 8.01,9.01 01/16/07 VALLEY NATIONAL BANCORP NJ 2.02,9.01 01/17/07 VASOMEDICAL INC DE 2.02,9.01 01/16/07 VCG HOLDING CORP CO 8.01,9.01 01/10/07 VIASYS HEALTHCARE INC DE 5.02 01/17/07 WARREN RESOURCES INC MD 3.01,9.01 01/18/07 WASHINGTON REAL ESTATE INVESTMENT TRU MD 1.01,8.01,9.01 01/17/07 WASTE INDUSTRIES USA INC NC 5.02,9.01 01/15/07 WATER CHEF INC DE 1.01,5.02,8.01,9.01 01/16/07 WEB.COM, INC. MN 8.01 01/13/07 WEBSTER FINANCIAL CORP DE 2.02,9.01 01/18/07 WEST BANCORPORATION INC IA 2.02,9.01 01/18/07 WESTERN GOLDFIELDS INC ID 7.01,9.01 01/17/07 WHITTIER ENERGY CORP NV 9.01 05/31/06 AMEND Willdan Group, Inc. DE 7.01 01/16/07 AMEND WILLIAM LYON HOMES DE 2.02,9.01 01/16/07 WILSHIRE ENTERPRISES INC DE 1.01,5.02,9.01 12/28/06 XEDAR CORP 4.01,9.01 01/17/07 XILINX INC DE 2.02,9.01 01/18/07 YRC WORLDWIDE INC DE 5.02,8.01,9.01 01/11/07 ZIOPHARM ONCOLOGY INC 5.02 01/13/07 AMEND