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
Expires: July 31, 2015
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
ACCESS NEWSWIRE INC COMM 46520M204 132,574 20,396 SH SOLE 20,396 0 0
ACME UNITED CORP COMM 004816104 18,164,284 380,643 SH SOLE 380,643 0 0
ACORN ENERGY INC COMM 004848206 170,300 10,000 SH SOLE 10,000 0 0
ACRES COMMERCIAL REALTY CORP REIT 00489Q102 1,807,784 101,618 SH SOLE 101,618 0 0
AMERICAN INTEGRITY INSURANCE COMM 026948109 18,415,156 977,969 SH SOLE 977,969 0 0
AMREP CORP COMM 032159105 1,276,662 50,621 SH SOLE 50,621 0 0
ASCENT INDUSTRIES CO COMM 871565107 13,293,779 884,483 SH SOLE 884,483 0 0
ASTRO-MED INC COMM 04638F108 10,846,074 380,965 SH SOLE 380,965 0 0
BANK7 CORP COMM 06652N107 23,281,110 475,610 SH SOLE 475,610 0 0
BUTLER NATIONAL CORP COMM 123720104 5,926,033 1,421,111 SH SOLE 1,421,111 0 0
CANTERBURY PARK HOLDING CORP COMM 13811E101 229,923 14,589 SH SOLE 14,589 0 0
CENTURY CASINOS INC COMM 156492100 174,081 136,001 SH SOLE 136,001 0 0
CHAMPIONS ONCOLOGY INC COMM 15870P307 685,842 111,338 SH SOLE 111,338 0 0
CITIZENS BANCSHARES CORP COMM 173168105 1,221,260 22,700 SH SOLE 22,700 0 0
COMSTOCK HOMEBUILDING COS-A COMM 205684202 1,942,353 121,473 SH SOLE 121,473 0 0
CREATIVE REALITIES INC COMM 22530J309 4,819,520 1,166,954 SH SOLE 1,166,954 0 0
CURRENCY EXCHANGE INTERNATIO COMM 23131B307 13,030,946 613,221 SH SOLE 613,221 0 0
DLH HOLDINGS CORP COMM 23335Q100 14,784,305 2,816,058 SH SOLE 2,816,058 0 0
ENVELA CORPORATION COMM 29402E102 36,051,453 1,248,319 SH SOLE 1,248,319 0 0
EXAGEN INC COMM 30068X103 2,213,140 475,944 SH SOLE 475,944 0 0
FIRST CAROLINA FINANCIAL SER COMM 31943F200 353,945 26,733 SH SOLE 26,733 0 0
FIRST NORTHWEST BANCORP COMM 335834107 4,507,835 417,006 SH SOLE 417,006 0 0
FITLIFE BRANDS INC COMM 33817P405 513,473 46,637 SH SOLE 46,637 0 0
FLUENT INC COMM 34380C201 1,525,693 409,033 SH SOLE 409,033 0 0
FRACTYL HEALTH INC COMM 35168W103 280,221 352,745 SH SOLE 352,745 0 0
FREIGHTOS LTD COMM G51405101 439,581 289,198 SH SOLE 289,198 0 0
FRIEDMAN INDUSTRIES COMM 358435105 2,708,623 84,171 SH SOLE 84,171 0 0
HARVARD BIOSCIENCE INC COMM 416906204 205,219 33,369 SH SOLE 33,369 0 0
HEALTH CATALYST INC COMM 42225T107 1,469,171 738,277 SH SOLE 738,277 0 0
HEALTH IN TECH INC-CLASS A COMM 42217D102 1,144,703 1,133,369 SH SOLE 1,133,369 0 0
HERITAGE GLOBAL INC COMM 42727E103 2,750,423 2,273,077 SH SOLE 2,273,077 0 0
HOLLEY INC WRNT 43538H103 1,406,932 551,738 SH SOLE 551,738 0 0
KEWAUNEE SCIENTIFIC CP COMM 492854104 761,797 21,447 SH SOLE 21,447 0 0
LAIRD SUPERFOOD INC COMM 50736T102 1,700,126 361,729 SH SOLE 361,729 0 0
LEGACY EDUCATION INC COMM 52474R207 4,580,496 389,498 SH SOLE 389,498 0 0
MCDERMOTT INTERNATIONAL LTD COMM G5924V148 1,023,660 46,530 SH SOLE 46,530 0 0
MOTORCAR PARTS OF AMERICA IN COMM 620071100 1,083,415 70,719 SH SOLE 70,719 0 0
NATURAL ALTERNATIVES INTL COMM 638842302 701,338 293,447 SH SOLE 293,447 0 0
NETSOL TECHNOLOGIES INC COMM 64115A402 505,179 109,346 SH SOLE 109,346 0 0
OPTEX SYSTEMS HOLDINGS INC COMM 68384X209 873,845 62,284 SH SOLE 62,284 0 0
OPTIMIZERX CORP COMM 68401U204 807,864 141,235 SH SOLE 141,235 0 0
OPTIMUMBANK HOLDINGS INC COMM 68401P403 458,744 78,552 SH SOLE 78,552 0 0
OPUS GENETICS INC COMM 67577R102 662,553 161,205 SH SOLE 161,205 0 0
QUEST RESOURCE HOLDING CORP COMM 74836W203 372,440 295,587 SH SOLE 295,587 0 0
RCM TECHNOLOGIES INC COMM 749360400 3,802,242 134,688 SH SOLE 134,688 0 0
RED ROBIN GOURMET BURGERS COMM 75689M101 3,325,526 416,211 SH SOLE 416,211 0 0
REGIS CORP COMM 758932206 3,146,136 112,362 SH SOLE 112,362 0 0
RIMINI STREET INC COMM 76674Q107 10,089,184 2,368,353 SH SOLE 2,368,353 0 0
STANDARD BIOTOOLS INC COMM 34385P108 1,802,513 2,190,973 SH SOLE 2,190,973 0 0
STAR EQUITY HOLDINGS INC COMM 443787205 3,370,042 316,139 SH SOLE 316,139 0 0
STRAN & CO INC COMM 86260J102 1,686,955 756,482 SH SOLE 756,482 0 0
XTANT MEDICAL HOLDINGS INC COMM 98420P308 46,085 109,466 SH SOLE 109,466 0 0