Negative EV, Positive FCF: 90%

Negative EV, Negative FCF: 6%

Negative EV: 40%

Additions After Incl Short Term Investments, Positive FCF: 30%

Additions After Incl Short Term Investments, Negative FCF: 116%

Additions After Incl Short Term Investments: 82%

* Assumed -100% return on missing data but the results are still good

### 1-year holding period from 12/14/12-12/13/13

Negative EV, Positive FCF

CECO: 61%

IMN: 5%

IQNT: 394%

MAXY: Assumed -100%

Negative EV, Negative FCF

GCAP: 75%

SUBK: 51%

WSTL: 99%

SCMR: -78%

FMD: -13%

VTUS: Assumed -100%

Additions After Incl Short Term Investments, Positive FCF

GLRE: 42%

TRGT: 17%

Additions After Incl Short Term Investments, Negative FCF

FBRC: 104%

FORM: 27%

PACB: 218%

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