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	<title>Greenbackd &#187; Greenbackd Portfolio</title>
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	<link>http://greenbackd.com</link>
	<description>Identifying undervalued activist situations</description>
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		<title>Greenbackd &#187; Greenbackd Portfolio</title>
		<link>http://greenbackd.com</link>
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		<item>
		<title>ASPN announces distribution of cash proceeds from Venoco sale</title>
		<link>http://greenbackd.com/2009/11/05/aspn-announces-distribution-of-cash-proceeds-from-venoco-sale/</link>
		<comments>http://greenbackd.com/2009/11/05/aspn-announces-distribution-of-cash-proceeds-from-venoco-sale/#comments</comments>
		<pubDate>Thu, 05 Nov 2009 04:00:07 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Aspen Exploration Corporation (OTC:ASPN)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Tymothi O. Tombar]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2767</guid>
		<description><![CDATA[Aspen Exploration Corporation (OTC:ASPN) has announced that it will pay a cash dividend of $0.73 per share to stockholders of record on November 16, 2009 from the proceeds of the sale of its California oil and gas assets to Venoco, Inc. $0.73 per share represents $5.3M, which is just over the mid-point of the $5.0M [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2767&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/11/05/aspn-announces-distribution-of-cash-proceeds-from-venoco-sale/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
	
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		<title>SOAP stockholders approve plan of liquidation; $3.75 dividend paid</title>
		<link>http://greenbackd.com/2009/07/30/soap-stockholders-approve-plan-of-liquidation-3-75-dividend-paid/</link>
		<comments>http://greenbackd.com/2009/07/30/soap-stockholders-approve-plan-of-liquidation-3-75-dividend-paid/#comments</comments>
		<pubDate>Thu, 30 Jul 2009 05:00:10 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Mithras Capital]]></category>
		<category><![CDATA[Net Cash Stocks]]></category>
		<category><![CDATA[Soapstone Networks Inc (NASDAQ:SOAP)]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Net Cash Stock]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2129</guid>
		<description><![CDATA[Soapstone Networks Inc (NASDAQ:SOAP) has announced that the stockholders have approved the liquidation and dissolution of the company. We started following SOAP (see our post archive here) because it was trading well below its net cash value with an activist investor, Mithras Capital, disclosing an 8.7% holding in October last year. The stock is up [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2129&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/30/soap-stockholders-approve-plan-of-liquidation-3-75-dividend-paid/feed/</wfw:commentRss>
		<slash:comments>9</slash:comments>
	
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			<media:title type="html">greenbackd</media:title>
		</media:content>
	</item>
		<item>
		<title>Digirad Corporation (NASDAQ:DRAD) Q2 update</title>
		<link>http://greenbackd.com/2009/07/24/digirad-corporation-nasdaqdrad-q2-update/</link>
		<comments>http://greenbackd.com/2009/07/24/digirad-corporation-nasdaqdrad-q2-update/#comments</comments>
		<pubDate>Fri, 24 Jul 2009 05:00:51 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Digirad Corporation (NASDAQ:DRAD)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Net Net Stocks]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Liquidation Value]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2099</guid>
		<description><![CDATA[Digirad Corporation (NASDAQ:DRAD) has filed its 10Q for the quarter ended June 30, 2009. We started following DRAD (see our post archive here) because it was an undervalued asset play with a plan to sell assets and buy back its stock. The stock is up more than 118% since we started following it to close [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2099&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/24/digirad-corporation-nasdaqdrad-q2-update/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>

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			<media:title type="html">DRAD Summary 2009 6 30</media:title>
		</media:content>
	</item>
		<item>
		<title>AVGN merger with MediciNova back on the table</title>
		<link>http://greenbackd.com/2009/07/21/avgn-merger-with-medicinova-back-on-the-table-greenbackd-exits/</link>
		<comments>http://greenbackd.com/2009/07/21/avgn-merger-with-medicinova-back-on-the-table-greenbackd-exits/#comments</comments>
		<pubDate>Tue, 21 Jul 2009 05:00:36 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Avigen (NASDAQ:AVGN)]]></category>
		<category><![CDATA[Biotechnology Value Fund]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Net Cash Stocks]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Avigen Inc (NASDAQ:AVGN)]]></category>
		<category><![CDATA[Net Cash Stock]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2078</guid>
		<description><![CDATA[Avigen Inc (NASDAQ:AVGN) is back in negotiations with MediciNova, Inc. regarding a proposed acquisition of AVGN by MediciNova. The consideration for the deal is AVGN&#8217;s &#8220;net cash liquidation value plus $3 million&#8221; and &#8220;a contingent payment right for a specific product program milestone payment associated with Avigen&#8217;s Assignment Agreement with Genzyme Corporation, potentially subject to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2078&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/21/avgn-merger-with-medicinova-back-on-the-table-greenbackd-exits/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
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		<item>
		<title>Lamassu Holdings blasts DITC board</title>
		<link>http://greenbackd.com/2009/07/17/lamassu-holdings-blasts-ditc-board/</link>
		<comments>http://greenbackd.com/2009/07/17/lamassu-holdings-blasts-ditc-board/#comments</comments>
		<pubDate>Fri, 17 Jul 2009 05:00:25 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Ditech Networks Inc (NASDAQ:DITC)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Lamassu Holdings LLC]]></category>
		<category><![CDATA[Lloyd I. Miller III]]></category>
		<category><![CDATA[Net Cash Stocks]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Lloyd Miller]]></category>
		<category><![CDATA[Net Cash Stock]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2059</guid>
		<description><![CDATA[Lamassu Holdings has blasted the board of Ditech Networks Inc (NASDAQ:DITC). In a letter to the board, Lamassu Holdngs accuses DITC management of &#8220;spending as though Ditech Networks has money to burn, adding to the amount of money you have already lost for shareholders during your tenure,&#8221; &#8220;aggressively [overstepping] the bounds of good corporate governance&#8221; [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2059&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/17/lamassu-holdings-blasts-ditc-board/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
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	</item>
		<item>
		<title>Lloyd I Miller III discloses DITC holding; Supports Lamassu Holdings&#8217; candidates</title>
		<link>http://greenbackd.com/2009/07/10/lloyd-i-miller-iii-discloses-ditc-holding-supports-lamassu-holdings-candidates/</link>
		<comments>http://greenbackd.com/2009/07/10/lloyd-i-miller-iii-discloses-ditc-holding-supports-lamassu-holdings-candidates/#comments</comments>
		<pubDate>Fri, 10 Jul 2009 05:01:40 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Ditech Networks Inc (NASDAQ:DITC)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Lamassu Holdings LLC]]></category>
		<category><![CDATA[Lloyd I. Miller III]]></category>
		<category><![CDATA[Net Cash Stocks]]></category>
		<category><![CDATA[Net Net Stocks]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Net Cash Stock]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2005</guid>
		<description><![CDATA[Lloyd I Miller III has disclosed a 5.9% holding in Ditech Networks Inc (NASDAQ:DITC). According to the 13D filing, Mr. Miller supports Mr. Leehealey and Mr. Sansone &#8211; the director candidates nominated by Lamassu Holdings for election to the board of directors at the DITC annual meeting &#8211; as &#8220;candidates who are independent of management and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2005&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/10/lloyd-i-miller-iii-discloses-ditc-holding-supports-lamassu-holdings-candidates/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>
	</item>
		<item>
		<title>Ditech Networks Inc (NASDAQ:DITC) 10Q update</title>
		<link>http://greenbackd.com/2009/07/10/ditech-networks-inc-nasdaqditc-10q-update-2/</link>
		<comments>http://greenbackd.com/2009/07/10/ditech-networks-inc-nasdaqditc-10q-update-2/#comments</comments>
		<pubDate>Fri, 10 Jul 2009 05:00:16 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Ditech Networks Inc (NASDAQ:DITC)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Lamassu Holdings LLC]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[Net Cash Stock]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2007</guid>
		<description><![CDATA[Ditech Networks Inc (NASDAQ:DITC) has filed its 10Q for the period ended April 30, 2009. We’ve been following DITC (see our archive here) because it is trading below its net cash value with an investor, Lamassu Holdings LLC, disclosing a 9.4% holding in November last year. Lamassu has previously offered to acquire DITC for $1.25 [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2007&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/07/10/ditech-networks-inc-nasdaqditc-10q-update-2/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>

		<media:content url="http://greenbackd.files.wordpress.com/2009/07/ditc-summary-2009-4-30.png" medium="image">
			<media:title type="html">DITC Summary 2009 4 30</media:title>
		</media:content>
	</item>
		<item>
		<title>Greenbackd Portfolio Q2 Performance and Update</title>
		<link>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/</link>
		<comments>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/#comments</comments>
		<pubDate>Mon, 01 Jun 2009 06:16:39 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[About]]></category>
		<category><![CDATA[Autobytel (NASDAQ:ABTL)]]></category>
		<category><![CDATA[Avigen (NASDAQ:AVGN)]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Ditech Networks Inc (NASDAQ:DITC)]]></category>
		<category><![CDATA[Greenbackd]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Liquidation Value]]></category>
		<category><![CDATA[MathStar Inc (OTC:MATH)]]></category>
		<category><![CDATA[Network Engines Inc (NASDAQ:NENG)]]></category>
		<category><![CDATA[Neurobiological Technologies Inc (NASDAQ:NTII)]]></category>
		<category><![CDATA[Northstar Neuroscience Inc (NASDAQ:NSTR)]]></category>
		<category><![CDATA[Rackable Systems Inc (NASDAQ:RACK)]]></category>
		<category><![CDATA[Soapstone Networks Inc (NASDAQ:SOAP)]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Vanda Pharmaceuticals Inc (NASDAQ:VNDA)]]></category>
		<category><![CDATA[VaxGen Inc (OTC:VXGN)]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Autobytel Inc (NASDAQ:ABTL)]]></category>
		<category><![CDATA[Avigen Inc (NASDAQ:AVGN)]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=1930</guid>
		<description><![CDATA[Update June 16, 2009: SOAP has announced that it proposes to liquidate. See our post below. Update June 3, 2009: We&#8217;ve pinned this post to the front page. Any new posts between now and July 4th will appear below this post. &#8212; June 1, 2009 marked the end of Greenbackd’s second quarter. It&#8217;s time again [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1930&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>

		<media:content url="http://greenbackd.files.wordpress.com/2009/06/greenbackd-portfolio-performance-2009-q2.png" medium="image">
			<media:title type="html">Greenbackd Portfolio Performance 2009 Q2</media:title>
		</media:content>
	</item>
		<item>
		<title>Digirad Corporation (NASDAQ:DRAD) Q1 update</title>
		<link>http://greenbackd.com/2009/05/05/digirad-corporation-nasdaqdrad-q1-update/</link>
		<comments>http://greenbackd.com/2009/05/05/digirad-corporation-nasdaqdrad-q1-update/#comments</comments>
		<pubDate>Tue, 05 May 2009 05:00:20 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Digirad Corporation (NASDAQ:DRAD)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Liquidating Value]]></category>
		<category><![CDATA[Stock buy back]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=1824</guid>
		<description><![CDATA[Digirad Corporation (NASDAQ:DRAD) has filed its 10Q for the quarter ended March 31, 2009. We&#8217;ve been following DRAD (see our post archive here) because it is an undervalued asset play with a plan to sell assets and buy back its stock. The stock is up more than 43% since we started following it to close [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1824&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/05/05/digirad-corporation-nasdaqdrad-q1-update/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>

		<media:content url="http://greenbackd.files.wordpress.com/2009/05/drad-summary-2009-3-31.png" medium="image">
			<media:title type="html">drad-summary-2009-3-31</media:title>
		</media:content>
	</item>
		<item>
		<title>Chromcraft Revington (AMEX:CRC) update; Greenbackd exits</title>
		<link>http://greenbackd.com/2009/04/21/chromcraft-revington-amexcrc-update-greenbackd-exits/</link>
		<comments>http://greenbackd.com/2009/04/21/chromcraft-revington-amexcrc-update-greenbackd-exits/#comments</comments>
		<pubDate>Tue, 21 Apr 2009 05:00:09 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Aldebran Capital]]></category>
		<category><![CDATA[Chromcraft Revington (AMEX:CRC)]]></category>
		<category><![CDATA[Greenbackd Portfolio]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Aldebaran Capital]]></category>
		<category><![CDATA[Chromcraft Revington Inc (AMEX:CRC)]]></category>
		<category><![CDATA[Liquidating Value]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=1716</guid>
		<description><![CDATA[Chromcraft Revington (AMEX:CRC) has filed its 10K for the period ended December 31, 2008. We initiated the position in CRC in December last year (see the post archive here) because it was trading at a substantial discount to its liquidation value and a substantial stockholder had called for its sale or orderly liquidation. Aldebaran Capital, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1716&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/04/21/chromcraft-revington-amexcrc-update-greenbackd-exits/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
	
		<media:content url="" medium="image">
			<media:title type="html">greenbackd</media:title>
		</media:content>

		<media:content url="http://greenbackd.files.wordpress.com/2009/04/crc-summary-2008-12-31.png" medium="image">
			<media:title type="html">crc-summary-2008-12-31</media:title>
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