July 2017 Update

In July:

BLIN had to do another 1 for 5 reverse stock split. This is the second one in just over 2 years. An AMAZING destruction of value by this management group.

PRSS announced Q2 earnings. Their “turnaround” continues. Our new valuation is $6.49 and they have $1.80 per share in cash. We are still hopeful on this one, but it is taking too long, which is always concerning.

July 2017 Legacy Positions:

                 Share      Current    Lifetime      Current      Price to     Prior

 Stock         Cost          Price        Gain            Value         Value       Value

CCUR         $4.58      $9.02           97%               $13.83       65%          $9.49

BLIN       $19.76       $3.09         (84%)              $7.20         43%          $6.88

SYNC        $2.56        $3.90           52%               $4.49         87%          $5.66

PRSS         $4.01        $1.84         (54%)              $6.49         28%          $5.61

ATEC        $7.06        $1.62         (77%)              $9.42         17%        $16.50

AVID        $8.35        $5.15         (38%)             $17.34         30%       $18.54

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