SEC NEWS DIGEST Issue 2005-09 January 13, 2005 ENFORCEMENT PROCEEDINGS SEC CHARGES GOOGLE, GENERAL COUNSEL FOR ILLEGALLY ISSUING OVER $80 MILLION IN STOCK OPTIONS On January 13, the Securities and Exchange Commission charged Google, Inc. with failing to register the issuance of option grants to employees or provide required financial information to the option recipients. According to the Commission, the Silicon Valley search engine technology company issued over $80 million in stock options to its employees in the two years preceding its IPO, yet failed to register the securities or make financial disclosures mandated by federal securities law. To settle the charges, Google and its General Counsel, David C. Drummond, agreed to cease and desist from violating the registration and related financial disclosure requirements. The Commission found that between 2002 and 2004, Google issued over $80 million worth of stock options to its employees as part of their compensation. The federal securities laws require companies issuing over $5 million in options during a 12-month period either to provide detailed financial information to the option recipients, or to register the securities offering with the Commission and thereby publicly disclose financial and other important information. According to the Commission, Google far exceeded the $5 million disclosure threshold, yet failed to register the options or provide the required financial information to employees. According to the Commission, Google – which, at the time, was still a privately-held company – viewed the disclosure of the information to employees as strategically disadvantageous, fearing the information could leak to Google’s competitors. The Commission further finds that Google’s General Counsel David Drummond, 41, of San Jose, California, was aware that the registration and related financial disclosure obligations had been triggered, but believed that Google could avoid providing the information to its employees by relying on an exemption from the law. According to the Commission, Drummond advised Google’s Board that it could continue to issue options, but failed to inform the Board that the registration and disclosure obligations had been triggered or that there were risks in relying on the exemption, which was in fact inapplicable. The Commission’s Order charges Google with violating Section 5 of the Securities Act of 1933, which imposes registration and disclosure obligations in the offer or sale of securities, and further charges Drummond with causing Google’s violation. Without admitting or denying the Commission’s findings, Google and Drummond consented to an order that they cease and desist from violating or causing violations of Section 5. (Rel. 33-8523; File No. 3-11795) SEC CHARGES WIFE OF FORMER CEO OF MASSACHUSETTS PHARMACEUTICAL COMPANY AND TWO OTHERS WITH INSIDER TRADING On January 12, the Commission filed in the United States District Court for the District of Massachusetts an insider trading action involving trading in the common stock of Massachusetts-based Cubist Pharmaceuticals, Inc. (ACubist@) against Patricia B. Rocklage, the wife of Scott M. Rocklage, Cubist=s former Chairman and CEO, William M. Beaver, Patricia Rocklage’s brother, David G. Jones, Beaver=s best friend and neighbor. Patricia Rocklage resides in Sudbury, Massachusetts. Both Beaver and Jones are residents of Charlotte, North Carolina. In its complaint, the Commission alleges that, on December 31, 2001, Scott Rocklage informed Patricia B. Rocklage of the negative results of a clinical trial involving one of Cubist’s most important products, Cidecin. The complaint also alleges that, unbeknownst to her husband, Ms. Rocklage had a pre-existing understanding with her brother whereby she would give him “a wink and a nod” if she ever became aware of any bad news about Cubist that might affect its stock price. According to the complaint, shortly after learning about the trial results, Ms. Rocklage told her husband that she intended to signal Beaver to sell his Cubist stock. The complaint states that Scott Rocklage urged his wife not to take this action. The complaint asserts that, notwithstanding her husband’s entreaties, by no later than the morning of January 2, 2002, Ms. Rocklage provided “a wink and a nod” to Beaver, who, at approximately 10 a.m. that day, sold all 5,583 shares of Cubist stock that he owned or controlled. The complaint further contends that, after receiving the signal from his sister, Beaver tipped his best friend and neighbor, Jones, who proceeded to sell all 7,500 shares of Cubist stock that he owned on the morning of January 3, 2002. Following the post market close announcement of the trial results on January 16, 2002, Cubist’s stock price dropped by 46%, from a closing price of $31.75 that day to a closing price of $17.02 on January 17, 2002. By selling when they did, Beaver and Jones avoided losses of $99,527 and $133,222, respectively. The Commission alleges that Patricia Rocklage, Beaver and Jones violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission is seeking injunctive relief, disgorgement of the losses avoided plus prejudgment interest thereon and civil penalties. [SEC v. Rocklage, et al., Civil Action No. 05-1007 (MEL) D. Massachusetts)] (LR- 19032) SEC FILES MANIPULATION CASE AGAINST THOMAS E. EDGAR On January 12, the Commission filed a civil complaint against Thomas E. Edgar, a resident of Urbana, Illinois, for fraudulently manipulating the closing price of nearly two dozen closed-end funds traded on the New York Stock Exchange. The complaint, filed in the United States District Court in Urbana, Illinois, alleges that on 119 occasions between August 1999 and October 2003, Edgar placed buy and sell orders of 100 or 200 shares of the closed-end funds at or near the close of the trading day for the purpose of artificially increasing or decreasing the funds’ closing price. This manipulative trading practice is known as "marking- the-close." The complaint alleges that one way Edgar carried out his scheme was to mark-the-close in an attempt to increase his profit from the sale of closed-end funds that he owned. Specifically, when Edgar owned a large number of shares of a closed-end fund, typically 2,000 shares, he often placed an additional market order to buy approximately 100 or 200 shares of the same closed-end fund within a few minutes of the close of the market. The execution of these additional market buy orders resulted in an increase to the closing price of the fund. The complaint alleges that Edgar’s purpose in placing the additional market buy orders at the end of one trading day was to cause an increase to the price of the fund and then to profit from the higher sale price at the beginning of the next trading day. The complaint alleges that in nearly every instance when he marked the close in this fashion, Edgar sold his shares the following day at a higher price. As a result, Edgar fraudulently manipulated the closing price of the closed-end funds that he owned. Edgar consented, without admitting or denying the allegations of the complaint, to the entry of an order of permanent injunction enjoining him from violations of Section 17(a) of the Securities Act of 1933 and Sections 9(a)(2) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and the imposition of a $35,000 civil penalty. The Commission acknowledges the assistance of the New York Stock Exchange in the investigation of this matter. [SEC v. Thomas E. Edgar, Civil Action No. 05-2009 C.D.Ill] (LR- 19033) NINE INDIVIDUALS CHARGED BY THE SECURITIES AND EXCHANGE COMMISSION WITH AIDING AND ABETTING FINANCIAL FRAUD AT ROYAL AHOLD’S U.S. FOODSERVICE SUBSIDIARY FOR SIGNING AND RETURNING FALSE AUDIT CONFIRMATIONS. ONE ALSO CHARGED WITH INSIDER TRADING. On January 13, the Commission filed enforcement actions against nine individuals alleging they aided and abetted a massive financial fraud by signing and returning materially false audit confirmations sent to them by the auditors of the U.S. Foodservice, Inc. subsidiary of Royal Ahold (Koninklijke Ahold N.V.). The actions filed name as defendants Mark A. Bailin, Kenneth H. Bowman, Timothy Neal Daly, Michael J. Hannigan, Peter O. Marion, John Nettle, Gordon Redgate, Bruce Robinson and Michael Rogers. All of these individuals were employees of or agents for vendors which supplied U.S. Foodservice. The Commission’s complaints allege that U.S. Foodservice personnel contacted vendors and urged them to sign and return the false confirmation letters. In some cases U.S. Foodservice pressured the vendors; in other cases they provided side letters to the vendors assuring the vendors that they did not owe U.S. Foodservice the amounts reflected as outstanding in the confirmation letters. The letters clearly stated that the confirmations were being used in connection with the annual audit and the letters directed the defendants to return the confirmations directly to the company’s auditors. Each of the individuals aided and abetted the fraud by signing and sending to the company’s independent auditors confirmation letters that they knew materially overstated the amounts of promotional allowance income paid or owed to U.S. Foodservice. The amounts overstated in the confirmations were often inflated by millions of dollars and by more than 100 percent. The complaints allege that U.S. Foodservice engaged in a scheme to report earnings equal to or greater than its targets, regardless of the company’s true performance. U.S. Foodservice inflated its promotional allowance income by at least $700 million for fiscal years 2001 and 2002 and thereby caused Ahold to report materially false operating and net income for these periods. The annual audit confirmation process at U.S. Foodservice was systematically corrupted to help keep the fraud from being discovered. The complaints allege aiding and abetting violations of Sections 10(b), 13(a) [in most cases], 13(b)(2)(A), 13(b)(2)(B), and 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rules 10b-5, 12b-20 [in most cases], and 13b2-1 thereunder. Bailin, Hannigan, Nettle, Redgate, and Rogers have each agreed to settle the Commission's action, without admitting or denying the allegations in the complaint, by consenting to permanent injunctions and payment of a $25,000 penalty. Also today, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges in this matter. The Commission also filed today a separate complaint against Bailin alleging that during February and March of 2000, after learning of material, nonpublic information about Ahold’s intention to acquire U.S. Foodservice, he traded in the shares of U.S. Foodservice and recommended the purchase of U.S. Foodservice to six other traders. The complaint alleges that he made illegal profits of approximately $1,144,794 and the other six traders had a combined profit of $1,079,653. The complaint alleges violations of Sections 10(b) and 14(e) of the Exchange Act and Rules 10b-5 and 14e-3 thereunder. Bailin has agreed to settle the Commission’s action, without admitting or denying the allegations in the complaint, by consenting to a permanent injunction, and payment of $2,224,446.51 disgorgement, $751,031.78 prejudgment interest and a $175,000 penalty. Related Actions On July 27, 2004 the SEC filed a complaint in the United States District Court for the Southern District of New York alleging that Michael Resnick, Mark P. Kaiser, Lee and Carter engaged in or substantially participated in a scheme to overstate Ahold’s income in SEC filings and other public announcements for at least fiscal years 2001 and 2002. Resnick, Kaiser, Lee, and Carter were top executives at Columbia, Maryland based wholesale food distributor U.S. Foodservice, a major subsidiary of Ahold (Litigation Release No. 18797). The Commission also filed a related complaint against Peter O. Marion in connection with insider trading of U.S. Foodservice securities (Litigation Release No. 18796). On October 13, 2004, the Commission filed actions against Royal Ahold and others on October 13, 2004 (Litigation Release No. 18929). The Commission will continue to litigate against the non-settling defendants. The Commission’s investigation is continuing. The Commission acknowledges the assistance and cooperation of the Office of the United States Attorney for the Southern District of New York and the New York Office of the Federal Bureau of Investigation. The Commission's investigation is continuing. [Securities and Exchange Commission v. Mark A. Bailin; Securities and Exchange Commission v. Kenneth H. Bowman;Securities and Exchange Commission v. Timothy Neal Daly; Securities and Exchange Commission v. Michael J. Hannigan; Securities and Exchange Commission v. Peter O. Marion;Securities and Exchange Commission v. John Nettle; Securities and Exchange Commission v. Gordon Redgate; Securities and Exchange Commission v. Bruce Robinson;Securities and Exchange Commission v. Michael Rogers; Securities and Exchange Commission v. Mark A. Bailin; January 13, 2005] (LR-19034) SELF REGULATORY ORGANIZATIONS APPROVAL TO PROPOSED RULE CHANGES The Commission has granted approval to a proposed rule change (SR-ISE- 2004-29), and Amendment No. 2 thereto, submitted under Rule 19b-4 of the Securities Exchange Act of 1934 by the International Securities Exchange, relating to proposed amendments to the ISE’s Certificate of Incorporation and Constitution and ISE Rule 303. Publication is expected in the Federal Register during the week of January 17. (Rel. 34-51029) The Commission has granted approval to a proposed rule change (SR-NSX- 2004-12) submitted by the National Stock Exchange under Rule 19b-4 of the Securities Exchange Act of 1934 to eliminate the “CBOE Exerciser Member” membership class, to eliminate the Exchange’s Special Nominating Committee, and to remove certain special restrictions on changes to certain NSX by-laws and rules. Publication of the proposal is expected in the Federal Register during the week of January 17. (Rel. 34-51033) 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 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . SB-2 3PEA TECHNOLOGIES INC., 3068 E. SUNSET ROAD, SUITE 3, LAS VEGAS, NV, 89120, 702-453-2221 - 750,000 ($750,000.00) Equity, (File 333-121966 - Jan. 12) (BR. 09) S-8 MEDWAVE INC, 4382 ROUND LAKE RD WEST, STE 6, ARDEN HILLS, MN, 55112-3923, 6126391227 - 0 ($3,588,088.00) Equity, (File 333-121968 - Jan. 12) (BR. 36) S-8 TEDA TRAVEL INC, CHINACHEM CENTURY TOWER, SUITE 2102, 178 GLOUCESTER RD., WANCHAI, K3, -, 01185228332186 - 8,000,000 ($1,600,000.00) Equity, (File 333-121969 - Jan. 12) (BR. 08) S-1 COTHERIX INC, 5000 SHORELINE COURT, SUITE 101, SOUTH SAN FRANCISCO, CA, 94080, 650-808-6500 - 4,600,000 ($48,852,000.00) Equity, (File 333-121970 - Jan. 12) (BR. 01) S-3 WPS RESOURCES CORP, 700 N ADAMS ST, PO BOX 19001, GREEN BAY, WI, 54307-9001, 9204334901 - 1,500,000 ($72,360,000.00) Equity, (File 333-121971 - Jan. 12) (BR. 02) N-2 ARES CAPITAL CORP, 1999 AVENUE OF THE STARS, SUITE 1900, LOS ANGELES, CA, 900067, 3102014100 - 0 ($172,500.00) Equity, (File 333-121972 - Jan. 12) (BR. 17) S-8 MYOGEN INC, 7575 WEST 103RD AVENUE STE 102, WESTMINSTER, CO, 80021, 3034106666 - 0 ($7,770,000.00) Equity, (File 333-121975 - Jan. 12) (BR. 01) S-3 LIFEPOINT INC, 1205 S. DUPONT ST., ONTARIO, A6, 91761, 9094183052 - 61,859,070 ($17,320,540.00) Equity, (File 333-121976 - Jan. 12) (BR. 36) S-3 BOSTON PRIVATE FINANCIAL HOLDINGS INC, 10 POST OFFICE SQ, BOSTON, MA, 02109, 6175561900 - 2,100,000 ($105,000,000.00) Equity, (File 333-121977 - Jan. 12) (BR. 07) S-4 GB&T BANCSHARES INC, P O BOX 2760, 500 JESSE JEWELL PARKWAY S E, GAINSVILLE, GA, 30501, 0 ($8,357,232.00) Equity, (File 333-121978 - Jan. 12) (BR. 07) S-8 GB&T BANCSHARES INC, P O BOX 2760, 500 JESSE JEWELL PARKWAY S E, GAINSVILLE, GA, 30501, 0 ($35,460,000.00) Equity, (File 333-121979 - Jan. 12) (BR. 07) S-3 LUMINENT MORTGAGE CAPITAL INC, 909 MONTGOMERY STREET, SUITE 500, SAN FRANCISCO, CA, 94133, 415-486-6500 - 0 ($33,638,834.40) Equity, (File 333-121980 - Jan. 12) (BR. 08) S-3 INNOVEX INC, 5540 PIONEER CREEK DRIVE, MAPLE PLAIN, MN, 55359-9003, 7634795300 - 0 ($18,410,000.00) Equity, (File 333-121981 - Jan. 12) (BR. 36) S-8 AMERICAN GREETINGS CORP, ONE AMERICAN ROAD, CLEVELAND, OH, 44144, 2162527300 - 4,500,000 ($109,665,000.00) Equity, (File 333-121982 - Jan. 12) (BR. 05) S-8 GOLDEN SPIRIT MINING LTD, 1288 ALBERNI ST STE 806, VANCOUVER BRITISH COLUMBIACANADAV6E4N5, BELLINGHAM, A2, 00000, 6046640484 - 19,000,000 ($760,000.00) Debt Convertible into Equity, (File 333-121983 - Jan. 12) (BR. 04) S-4 GTECH HOLDINGS CORP, 55 TECNOLOGY WAY, WEST GREENWICH, RI, 02817, 4013921000 - 0 ($300,000,000.00) Non-Convertible Debt, (File 333-121985 - Jan. 12) (BR. 03) S-8 PLANETLINK COMMUNICATIONS INC, 404-8430123 - 60,000,000 ($600,000.00) Equity, (File 333-121986 - Jan. 12) (BR. 02) F-1 Hurray! Holding Co., Ltd., ROOM 305-306, CHINA RESOURCES BUILDING, 8 JIAN GUO MEN BEI ST,DONGCHENG DISTRICT, BEIJING, F4, 100005, 86-10-6518-8989 - 791,200,000 ($91,779,200.00) ADRs/ADSs, (File 333-121987 - Jan. 12) (BR. ) S-8 ASYST TECHNOLOGIES INC /CA/, 48761 KATO ROAD, FREMONT, CA, 94538, 5106615000 - 0 ($4,171,500.00) Equity, (File 333-121988 - Jan. 12) (BR. 36) S-3 J P MORGAN ACCEPTANCE CORP I, 60 WALL STREET, NEW YORK, NY, 10260, 2126487741 - 20,000,000,000 ($20,000,000,000.00) Asset-Backed Securities, (File 333-121990 - Jan. 12) (BR. 05) SB-2 LIFESTREAM TECHNOLOGIES INC, 510 CLEARWATER LOOP, SUITE 101, POST FALLS, ID, 83854, 2084579409 - 32,633,333 ($1,506,067.00) Equity, (File 333-121991 - Jan. 12) (BR. 36) S-4 BLACK & DECKER CORP, 701 E JOPPA RD, TOWSON, MD, 21286, 4107163900 - 0 ($300,000,000.00) Non-Convertible Debt, (File 333-121992 - Jan. 12) (BR. 36) S-3 DATATRAK INTERNATIONAL INC, 6150 PARKLAND BLVD, SUITE 100, MAYFIELD HEIGHTS, OH, 44124, 4404430082 - 580,577 ($6,148,310.43) Equity, (File 333-121993 - Jan. 12) (BR. 03) S-8 AQUA SOCIETY, INC., KONRAD-ADENAUER STRASSE 9-13, 45699, HERTEN, 2M, 0000, 011-49-6031-791-760 - 10,000,000 ($27,000,000.00) Equity, (File 333-121994 - Jan. 12) (BR. 06) SB-2 Georgia Trust Bancshares, Inc., 3570 FINANCIAL CENTER WAY, SUITE 2, BUFORD, GA, 30519, 7706147644 - 19,000 ($190,000.00) Equity, (File 333-121995 - Jan. 12) (BR. 07) S-4 NACCO INDUSTRIES INC, 5875 LANDERBROOK DR, MAYFIELD HEIGHTS, OH, 44124-4017, 4404499668 - 670,490 ($66,049,969.90) Equity, (File 333-121996 - Jan. 12) (BR. 36) SB-2 SONTRA MEDICAL CORP, 10 FORGE PARKWAY, FRANKLIN, MA, 02038, 508 553-8850 - 3,822,200 ($7,644,400.00) Equity, (File 333-121997 - Jan. 12) (BR. 36) N-2 Gabelli Global Gold, Natural Resources & Income Trust, ONE CORPORATE CENTER, RYE, NY, 10580-1422, 800.422.3554 - 100,000 ($2,000,000.00) Equity, (File 333-121998 - Jan. 12) (BR. ) SB-2 Oxford Media Corp, ONE TECHNOLOGY DRIVE, BUILDING H - MRGN, IRVINE, CA, 92618, 949 753 0590 - 1,000,000 ($5,000,000.00) Equity, (File 333-121999 - Jan. 12) (BR. 09) S-8 EATON VANCE CORP, 255 STATE STREET, BOSTON, MA, 02109, 6174828260 - 2,700,000 ($134,541,000.00) Equity, (File 333-122000 - Jan. 12) (BR. 07) S-8 MERIDIAN BIOSCIENCE INC, 3471 RIVER HILLS DR, CINCINNATI, OH, 45244, 5132713700 - 250,000 ($4,377,500.00) Equity, (File 333-122002 - Jan. 12) (BR. 01) S-8 ID BIOMEDICAL CORP, 0 ($39,615,000.00) Equity, (File 333-122003 - Jan. 12) (BR. 01) 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 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 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE DATE COMMENT @ROAD, INC CA 7.01,9.01 01/12/05 AAR CORP DE 5.02,9.01 01/12/05 ABIOMED INC DE 2.02,9.01 01/12/05 ACT TELECONFERENCING INC CO 2.02,2.05,9.01 01/07/05 ACUITY BRANDS INC DE 5.05,9.01 01/12/05 AFFORDABLE RESIDENTIAL COMMUNITIES IN MD 5.02,9.01 01/12/05 AMC ENTERTAINMENT INC DE 7.01,9.01 01/12/05 AMERICAN ACCESS TECHNOLOGIES INC FL 2.02,9.01 01/10/05 AMERICAN MILLENNIUM CORP INC DE 5.02 01/11/05 AMERON INTERNATIONAL CORP DE 8.01 01/10/05 APOGEE TECHNOLOGY INC DE 4.01,9.01 01/07/05 APPLE COMPUTER INC CA 2.02,9.01 01/12/05 APPLETON PAPERS INC/WI 8.01,9.01 01/12/05 APTIMUS INC WA 7.01 01/04/05 ARCADIA RESOURCES, INC NV 1.01,5.02,9.01 01/06/05 ARGENT SECURITIES INC ASSET-BACKED PA 2.01,8.01,9.01 10/06/04 AMEND ASIA PAYMENT SYSTEMS NV 7.01,9.01 01/11/05 Asset Backed Pass-Through Certificate DE 8.01,9.01 01/12/05 ASYST TECHNOLOGIES INC /CA/ CA 1.01,3.01,5.02,7.01,9.01 01/09/05 AXESSTEL INC NV 1.01,3.02,9.01 08/18/04 BEAR STEARNS ASSET BACKED SECURITIES DE 9.01 12/29/04 BEHRINGER HARVARD REIT I INC MD 2.01,2.03,9.01 01/12/05 BELLSOUTH CORP GA 2.01 01/07/05 BENIHANA INC DE 2.02,9.01 01/12/05 BIG 5 SPORTING GOODS CORP DE 2.02,9.01 01/11/05 BIG LOTS INC OH 1.01,1.02,2.02,5.02,7.01,9.01 01/06/05 BINDVIEW DEVELOPMENT CORP TX 2.02,9.01 01/11/05 BIOMARIN PHARMACEUTICAL INC DE 1.01 01/12/05 BNP RESIDENTIAL PROPERTIES INC MD 7.01,9.01 01/11/05 BSD MEDICAL CORP DE 7.01,9.01 01/12/05 BUCKEYE TECHNOLOGIES INC DE 2.06 01/11/04 BULL RUN CORP GA 2.02,9.01 01/12/05 BULLDOG TECHNOLOGIES INC NV 7.01,9.01 01/12/05 CALIPER LIFE SCIENCES INC DE 2.02,9.01 01/12/05 CAM COMMERCE SOLUTIONS INC DE 4.01 01/07/05 CAPITAL ONE AUTO FINANCE TRUST 2004-A DE 8.01,9.01 01/12/05 Capital One Auto Finance Trust 2004-B DE 8.01,9.01 01/12/05 CAPITAL ONE MASTER TRUST NY 8.01,9.01 01/11/05 CAPITAL ONE MULTI ASSET EXECUTION TRU DE 8.01,9.01 01/11/05 CAPITAL ONE PRIME AUTO RECEIVABLES TR DE 8.01,9.01 01/12/05 Capital One Prime Auto Receivables Tr DE 8.01,9.01 01/12/05 Capital One Prime Auto Receivables Tr DE 8.01,9.01 01/12/05 CAREY W P & CO LLC DE 8.01 01/12/05 CARRIAGE SERVICES INC DE 1.01,7.01 01/11/05 CARRIZO OIL & GAS INC TX 3.02 01/07/05 CENDANT CORP DE 7.01,9.01 01/12/05 CENTEX CORP NV 2.03 01/06/05 CH ENERGY GROUP INC NY 7.01,9.01 01/12/05 CHENIERE ENERGY INC DE 8.01,9.01 01/11/05 CHINA DIGITAL WIRELESS INC 4.01,5.02,9.01 01/01/05 CHIQUITA BRANDS INTERNATIONAL INC NJ 1.01,2.03,9.01 01/07/05 CHORDIANT SOFTWARE INC DE 5.02,8.01 01/12/05 CIMNET INC/PA DE 1.01,2.03,9.01 01/07/05 CINCINNATI BELL INC OH 7.01 01/12/05 CINCINNATI FINANCIAL CORP OH 1.01 01/07/05 CITIZENS & NORTHERN CORP PA 8.01,9.01 01/12/05 CITIZENS FINANCIAL CORP/DE/ DE 2.02,9.01 01/12/05 CITY NATIONAL CORP DE 2.02,7.01,9.01 01/12/05 CLAIBORNE LIZ INC DE 8.01,9.01 01/06/05 CMS ENERGY CORP MI 8.01 01/09/05 CNL INCOME FUND II LTD FL 8.01 01/05/05 CNL INCOME FUND III LTD FL 8.01 01/05/05 CNL INCOME FUND IV LTD FL 8.01 01/05/05 CNL INCOME FUND IX LTD FL 8.01 01/05/05 CNL INCOME FUND LTD FL 8.01 01/05/05 CNL INCOME FUND V LTD FL 8.01 01/05/05 CNL INCOME FUND VI LTD FL 8.01 01/05/05 CNL INCOME FUND VII LTD FL 8.01 01/05/05 CNL INCOME FUND VIII LTD FL 8.01 01/05/05 CNL INCOME FUND X LTD FL 8.01 01/05/05 CNL INCOME FUND XI LTD FL 8.01 01/05/05 CNL INCOME FUND XII LTD FL 8.01 01/05/05 CNL INCOME FUND XIII LTD FL 8.01 01/05/05 CNL INCOME FUND XIV LTD FL 8.01 01/05/05 CNL INCOME FUND XV LTD FL 8.01 01/05/05 CNL INCOME FUND XVI LTD FL 8.01 01/05/05 CNL INCOME FUND XVII LTD FL 8.01 01/05/05 CNL INCOME FUND XVIII LTD FL 8.01 01/05/05 COFFEE PACIFICA INC NV 8.01 01/12/05 COMMERCE ENERGY GROUP INC DE 7.01,9.01 01/12/05 COMMUNITY BANCORP INC DE 5.02,9.01 01/12/05 COMPREHENSIVE CARE CORP DE 2.02,9.01 01/12/05 COMPX INTERNATIONAL INC DE 1.01 01/07/05 CONCORD COMMUNICATIONS INC MA 1.01,9.01 01/08/05 COOPER COMPANIES INC DE 1.01,9.01 01/06/05 COOPER TIRE & RUBBER CO DE 7.01 01/12/05 CORPORATE PROPERTY ASSOCIATES 15 INC MD 8.01 01/12/05 COSI INC DE 7.01,9.01 01/11/05 COTHERIX INC 2.02,8.01,9.01 01/12/05 CREDIT SUISSE FIRST BOSTON MORTGAGE A DE 9.01 01/12/05 CRITICAL THERAPEUTICS INC DE 1.01 01/10/05 CRYOLIFE INC FL 1.02,8.01,9.01 12/13/04 CWMBS INC DE 8.01,9.01 01/06/05 Cyberkinetics Neurotechnology Systems DE 5.02 01/10/05 DATAMEG CORP NY 4.02,7.01,9.01 01/12/05 DATATRAK INTERNATIONAL INC OH 8.01 01/06/05 DAVEL COMMUNICATIONS INC IL 5.02 01/10/05 DDI CORP CA 1.01,2.03,9.01 12/29/04 DELTA APPAREL INC GA 2.02,7.01,9.01 01/11/05 DEPOMED INC CA 8.01 01/12/05 DIAMANT ART CORP 5.03 11/22/04 DIAMANT ART CORP 3.02 01/05/05 DIGITAL VIDEO SYSTEMS INC DE 8.01,9.01 01/06/05 DTLL INC MN 2.01,5.01 01/11/05 DYAX CORP DE 8.01,9.01 01/10/05 EARTH SEARCH SCIENCES INC UT 8.01,9.01 12/23/04 EASTMAN KODAK CO NJ 1.01,9.01 01/11/05 ECHOSTAR COMMUNICATIONS CORP NV 5.02 07/21/04 AMEND ENCORE CAPITAL GROUP INC DE 7.01,9.01 01/11/05 ENDOLOGIX INC /DE/ DE 1.01 01/11/05 ENER1 INC FL 5.03,9.01 01/05/04 Energy Transfer Partners, L.P. DE 7.01,8.01,9.01 01/11/05 Energy Transfer Partners, L.P. DE 2.02,9.01 01/10/05 ENTRX CORP DE 3.01 01/06/05 ENVIRONMENTAL TECTONICS CORP PA 2.02,9.01 01/11/05 ESCALADE INC IN 2.02,9.01 10/22/04 AMEND EYETECH PHARMACEUTICALS INC DE 7.01 01/10/05 EYI INDUSTRIES INC 1.01 01/12/05 FARMER MAC MORTGAGE SECURITIES CORP DE 9.01 01/12/05 FARMER MAC MORTGAGE SECURITIES CORP DE 9.01 01/12/05 FARMER MAC MORTGAGE SECURITIES CORP DE 9.01 01/12/05 FARMER MAC MORTGAGE SECURITIES CORP DE 9.01 01/12/05 FEDEX CORP DE 7.01,9.01 01/11/05 FINISAR CORP DE 1.02,9.01 01/11/05 FRIEDMAN BILLINGS RAMSEY GROUP INC VA 8.01,9.01 01/11/05 FULTON FINANCIAL CORP PA 1.01,9.01 01/11/05 GELSTAT CORP MN 1.01 01/11/05 GENERAL MOTORS CORP DE 2.05 01/12/05 GENIUS PRODUCTS INC NV 7.01,9.01 01/12/05 GENZYME CORP MA 2.02,9.01 01/11/05 GLOBAL SIGNAL INC DE 1.01,9.01 01/06/04 GLOBAL SIGNAL INC DE 9.01 10/29/04 AMEND GMH Communities Trust MD 2.01,9.01 01/06/05 GMX RESOURCES INC OK 2.02,7.01,8.01,9.01 01/12/05 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 01/11/05 GS Mortgage GSAMP Trust 2004-OPT DE 8.01,9.01 12/28/04 GS MORTGAGE SECURITIES CORP DE 8.01 01/10/05 GS MORTGAGE SECURITIES CORP DE 8.01,9.01 01/10/05 GSAA Home Equity Trust 2004-11 DE 8.01,9.01 12/30/04 GSI COMMERCE INC DE 7.01 12/29/04 H&R BLOCK INC MO 1.01,1.02 01/07/05 HARMAN INTERNATIONAL INDUSTRIES INC / DE 7.01,9.01 01/12/05 HARTCOURT COMPANIES INC UT 1.01,5.02,9.01 01/05/05 HASBRO INC RI 2.02,8.01,9.01 01/12/05 HAUSER INC DE 3.01,9.01 01/12/05 HCA INC/TN DE 2.02,7.01,9.01 01/12/05 HERLEY INDUSTRIES INC /NEW DE 4.01,9.01 12/23/04 AMEND HEXCEL CORP /DE/ DE 1.01,9.01 01/06/05 HMS HOLDINGS CORP 1.01,5.02,9.01 01/12/05 HORTON D R INC /DE/ DE 2.02,9.01 01/11/05 HUFFY CORP OH 4.01 01/11/05 IMAGE ENTERTAINMENT INC CA 2.02,9.01 01/12/05 IMMUNOMEDICS INC DE 5.02,9.01 01/10/05 INDIGENOUS GLOBAL DEVELOPMENT CORP UT 4.01,9.01 12/08/04 AMEND INDYMAC INDX MORTGAGE LOAN TRUST 2004 8.01 11/26/04 AMEND IndyMac RAST 2004-A8 8.01 11/26/04 AMEND INNOVEX INC MN 1.01,2.03,9.01 01/07/05 INSITUFORM TECHNOLOGIES INC DE 1.01 01/10/05 INTERDIGITAL COMMUNICATIONS CORP PA 7.01 01/10/05 INTERMOST CORP UT 2.01,9.01 01/06/05 INVITROGEN CORP DE 2.02,9.01 01/10/05 ISCO INTERNATIONAL INC DE 1.01,5.02,9.01 01/06/05 KANSAS GAS & ELECTRIC CO /KS/ 8.01,9.01 01/12/05 KFX INC DE 1.01,5.02,8.01,9.01 01/06/05 Knockout Holdings, Inc. DE 5.03,9.01 01/10/05 KOSS CORP DE 2.02,7.01,9.01 01/11/05 LANDRYS RESTAURANTS INC 2.02,9.01 01/11/05 LASERCARD CORP DE 2.02,9.01 01/10/05 LEAP TECHNOLOGY INC / DE DE 2.01,9.01 01/07/04 LEUCADIA NATIONAL CORP NY 8.01,9.01 01/12/05 LIBBEY INC DE 1.01,9.01 01/10/05 LIFECORE BIOMEDICAL INC MN 2.02,9.01 01/12/05 LIMELIGHT MEDIA GROUP INC NV 7.01 01/12/05 MANHATTAN ASSOCIATES INC GA 5.02,9.01 01/06/05 MARKEL CORP VA 5.02,9.01 01/12/05 MARKLAND TECHNOLOGIES INC FL 1.01,3.02,9.01 01/05/05 MARKLAND TECHNOLOGIES INC FL 1.01 01/05/05 MASTR Seasoned Securitization Trust 2 DE 2.01,9.01 12/29/04 MAUI GENERAL STORE INC NY 4.01 11/16/04 AMEND MBIA INC CT 8.01 01/06/05 MCKESSON CORP DE 8.01 01/12/05 MDC PARTNERS INC 7.01,9.01 01/12/05 MEDIS TECHNOLOGIES LTD DE 3.02 01/10/05 MEDXLINK CORP NV 1.01 01/12/05 MERCANTILE BANK CORP MI 2.02,9.01 01/12/05 Meritage Homes CORP MD 5.02,9.01 01/06/05 MERRILL LYNCH MORTGAGE INVESTORS, INC DE 2.01,9.01 12/28/04 MICROHELIX INC OR 4.01 01/07/05 MOLDFLOW CORP 1.01,5.02,9.01 01/10/05 MOOG INC NY 7.01,9.01 01/12/05 MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 11/26/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 10/25/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 09/27/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 08/25/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 07/26/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 06/25/04 AMEND MORGAN STANLEY ABS CAPITAL I INC TRUS DE 8.01 05/25/04 AMEND MORGAN STANLEY DEAN WITTER CAPITAL I DE 8.01,9.01 12/01/04 MORTGAGE PASS-THROUGH CERTIFICATES SE DE 8.01,9.01 12/01/04 MOVIE GALLERY INC DE 1.01,7.01,9.01 01/09/05 MYRIAD GENETICS INC DE 8.01,9.01 01/12/05 NASSDA CORP DE 2.02,9.01 01/12/05 NATIONAL BEEF PACKING CO LLC DE 7.01,9.01 01/12/05 NATIONAL CITY CORP DE 9.01 01/12/05 NDCHEALTH CORP DE 8.01 01/11/05 NEIGHBORCARE INC PA 7.01,9.01 01/12/05 NETWORK EQUIPMENT TECHNOLOGIES INC DE 2.02,5.02,9.01 01/11/05 NEUROCRINE BIOSCIENCES INC CA 8.01,9.01 01/11/05 NEW PLAN EXCEL REALTY TRUST INC MD 8.01,9.01 01/10/05 NEW VALLEY CORP DE 1.01,3.03,9.01 01/10/05 NEWCASTLE INVESTMENT CORP MD 8.01,9.01 01/06/05 NEWMONT MINING CORP /DE/ DE 5.03,9.01 01/07/05 NEXEN INC A0 9.01 12/01/04 AMEND NICOR INC IL 5.02 01/10/05 NORDSTROM INC WA 1.01,9.01 01/12/05 NORTHERN ILLINOIS GAS CO /IL/ /NEW/ IL 5.02 01/10/05 NOVASTAR FINANCIAL INC MD 8.01,9.01 01/12/05 NYMAGIC INC NY 1.01,9.01 01/07/05 AMEND OCEAN BIO CHEM INC FL 4.01 01/12/05 AMEND ODYSSEY HEALTHCARE INC DE 1.01,9.01 01/11/05 ON2 TECHNOLOGIES INC CO 2.01,9.01 01/06/05 OPTICAL CABLE CORP VA 2.02,9.01 01/10/05 P F CHANGS CHINA BISTRO INC 2.02,9.01 01/05/05 PACEL CORP VA 2.01,9.01 12/30/04 PARKER DRILLING CO /DE/ DE 2.02,9.01 01/12/05 PECO II INC OH 5.02,9.01 01/06/05 PENDER INTERNATIONAL INC DE 5.02 01/06/05 PEOPLES FINANCIAL CORP /MS/ MS 2.02,9.01 01/12/05 PFSWEB INC DE 8.01 01/12/05 PHARMION CORP 2.02,9.01 01/10/05 PHH CORP MD 7.01,9.01 01/12/05 PINNACLE ENTERTAINMENT INC DE 8.01,9.01 01/10/05 PINNACLE SYSTEMS INC CA 1.01,5.02,9.01 01/12/05 PLANGRAPHICS INC CO 1.01,9.01 01/07/05 POLAROID HOLDING CO DE 1.01,9.01 01/12/05 POORE BROTHERS INC DE 5.03,9.01 01/11/05 PRINCIPAL LIFE INSURANCE CO IA 9.01 01/07/05 PRINCIPAL LIFE INSURANCE CO IA 9.01 01/07/05 ProsoftTraining NV 3.02 01/06/05 PRUDENTIAL FINANCIAL INC NJ 5.02,9.01 01/11/05 QLOGIC CORP DE 2.02,9.01 01/11/05 QUANEX CORP DE 5.02 01/07/05 RALI Series 2004-QA6 Trust DE 8.01,9.01 01/12/05 RANGE RESOURCES CORP DE 8.01,9.01 01/11/05 RAYBOR MANAGEMENT INC DE 1.01,2.03,3.02 01/06/05 REDWOOD TRUST INC MD 1.01 01/06/05 REGAL BELOIT CORP WI 7.01 01/10/05 RICHARDSON ELECTRONICS LTD/DE DE 7.01 01/11/05 ROCKWELL COLLINS INC DE 7.01,9.01 01/12/05 ROCKY SHOES & BOOTS INC OH 1.01,2.01,2.03,3.02,9.01 01/06/05 SALESFORCE COM INC DE 8.01,9.01 01/11/05 SEGMENTZ INC DE 5.02 01/12/05 SENTO CORP UT 7.01,9.01 01/12/05 SHAW GROUP INC LA 1.01,9.01 01/06/05 SILGAN HOLDINGS INC DE 2.02,9.01 01/11/05 SILVER SCREEN STUDIOS INC GA 5.02 01/12/05 SLABSDIRECT COM INC DE 5.03,9.01 01/07/05 SONTRA MEDICAL CORP MN 8.01 01/12/05 SONUS NETWORKS INC DE 1.01,5.02,9.01 12/24/04 SPARTA INC /DE DE 7.01,9.01 01/12/05 SPARTAN MOTORS INC MI 7.01,9.01 01/10/05 SPORTS CLUB CO INC DE 5.02 01/12/05 STERIS CORP OH 8.01,9.01 01/07/05 STONEPATH GROUP INC DE 2.02,9.01 01/06/05 Structured Asset Securities Corp Mort DE 8.01 01/12/05 STRUCTURED PRODUCTS CORP CAST STEP UP DE 8.01,9.01 01/02/05 STRUCTURED PRODUCTS CORP CAST STEP UP DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CASTSM STEP DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CORTS TR FOR DE 8.01,9.01 12/31/04 STRUCTURED PRODUCTS CORP CORTS TR III DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CORTS TRUST DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CORTS TRUST DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CORTS TRUST DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP CRED ENHANCE DE 8.01,9.01 01/01/05 STRUCTURED PRODUCTS CORP TIERS R INFL DE 8.01,9.01 01/01/05 SUNTRUST BANKS INC GA 8.01,9.01 01/12/05 SYNNEX CORP DE 2.02,9.01 01/12/05 SYNOPSYS INC DE 1.01,9.01 10/30/04 TASKER CAPITAL CORP NV 5.02,9.01 01/12/04 TECO ENERGY INC FL 1.01,2.03,9.01 01/06/05 THACKERAY CORP DE 8.01 01/12/05 THESTREET COM DE 8.01,9.01 01/12/05 THREE FIVE SYSTEMS INC DE 7.01,9.01 01/12/05 TIPPERARY CORP TX 1.01 01/06/05 TIVO INC DE 8.01 01/12/05 TLC VISION CORP A6 5.02,9.01 01/11/05 TNX TELEVISION HOLDINGS INC NV 5.02 01/06/05 TODD SHIPYARDS CORP WA 8.01 01/12/05 TOMS FOODS INC DE 1.01,9.01 01/06/05 TRANSKARYOTIC THERAPIES INC DE 2.02,9.01 01/11/05 TREK RESOURCES INC DE 3.01,8.01,9.01 01/12/05 AMEND TRIAD AUTOMOBILE RECEIVABLES TRUST 20 CA 8.01,9.01 01/12/05 TRINITY INDUSTRIES INC DE 1.01 01/10/05 TTM TECHNOLOGIES INC WA 7.01,9.01 01/12/05 TWIN LAKES INC NV 4.02 01/04/05 ULTRALIFE BATTERIES INC DE 7.01,9.01 01/12/05 UMB FINANCIAL CORP MO 8.01 01/06/05 UNITED PARCEL SERVICE INC DE 2.02,9.01 01/11/05 UNITEDGLOBALCOM INC DE 1.01 01/10/05 URBAN TELEVISION NETWORK CORP NV 3.02 01/05/05 USA VIDEO INTERACTIVE CORP WY 5.02,9.01 11/04/04 VALENCE TECHNOLOGY INC DE 8.01,9.01 01/12/05 VERIZON COMMUNICATIONS INC DE 8.01 01/12/05 VFINANCE INC DE 9.01 01/12/05 AMEND VioQuest Pharmaceuticals MN 5.02 01/03/05 VISTACARE, INC. DE 5.02 01/10/05 AMEND VITAL IMAGES INC MN 5.02,9.01 01/11/05 VSUS TECHNOLOGIES INC DE 5.02,9.01 01/12/05 WEBSENSE INC DE 2.02,9.01 01/11/05 WELLS FARGO ASSET SECURITIES CORP DE 8.01,9.01 01/11/05 WEST PHARMACEUTICAL SERVICES INC PA 7.01,9.01 01/12/05 WESTAR ENERGY INC /KS KS 8.01,9.01 01/11/05 WHEELING ISLAND GAMING INC DE 8.01,9.01 01/08/05 WYNDHAM INTERNATIONAL INC DE 5.02,9.01 01/12/05 ZIMMER HOLDINGS INC DE 8.01,9.01 01/12/05