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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACME UNITED CORP COMM 004816104   9,765,976 261,612 SH   SOLE   261,612 0 0
ASCENT INDUSTRIES CO COMM 871565107   11,141,697 996,574 SH   SOLE   996,574 0 0
ASTRO-MED INC COMM 04638F108   4,506,825 375,256 SH   SOLE   375,256 0 0
BANK7 CORP COMM 06652N107   19,864,095 425,720 SH   SOLE   425,720 0 0
BBX CAPITAL INC COMM 073319105   2,856,349 393,301 SH   SOLE   393,301 0 0
BIRCHTECH CORP COMM 59833H101   76,500 150,000 SH   SOLE   150,000 0 0
CANTERBURY PARK HOLDING CORP COMM 13811E101   299,075 14,589 SH   SOLE   14,589 0 0
CRAWFORD UNITED CORPORATION COMM 22511P100   1,009,077 24,054 SH   SOLE   24,054 0 0
CURRENCY EXCHANGE INTERNATIO COMM 23131B307   8,454,917 516,022 SH   SOLE   516,022 0 0
DAWSON GEOPHYSICAL CO COMM 239360100   724,159 540,417 SH   SOLE   540,417 0 0
DLH HOLDINGS CORP COMM 23335Q100   10,991,368 1,368,788 SH   SOLE   1,368,788 0 0
ELECTROVAYA INC COMM 28617B606   866,643 349,453 SH   SOLE   349,453 0 0
ENVELA CORPORATION COMM 29402E102   8,205,081 1,142,769 SH   SOLE   1,142,769 0 0
ENZO BIOCHEM INC COMM 294100102   577,082 807,899 SH   SOLE   807,899 0 0
ETON PHARMACEUTICALS INC COMM 29772L108   6,071,323 455,805 SH   SOLE   455,805 0 0
FITLIFE BRANDS INC COMM 33817P306   1,251,286 38,383 SH   SOLE   38,383 0 0
FRIEDMAN INDUSTRIES COMM 358435105   2,884,673 188,664 SH   SOLE   188,664 0 0
HERITAGE GLOBAL INC COMM 42727E103   3,453,989 1,867,021 SH   SOLE   1,867,021 0 0
HOLLEY INC WRNT 43538H103   1,666,249 551,738 SH   SOLE   551,738 0 0
HUDSON GLOBAL INC COMM 443787205   3,406,611 261,043 SH   SOLE   261,043 0 0
INOTIV INC COMM 45783Q100   222,823 53,822 SH   SOLE   53,822 0 0
KIRKLANDS INC COMM 497498105   16,200 10,000 SH   SOLE   10,000 0 0
NATURAL ALTERNATIVES INTL COMM 638842302   1,293,000 300,000 SH   SOLE   300,000 0 0
SALEM MEDIA GROUP INC-CL A COMM 794093104   332,013 527,004 SH   SOLE   527,004 0 0
SPORTSMAN'S WAREHOUSE HOLDIN COMM 84920Y106   41,070 15,382 SH   SOLE   15,382 0 0
SR BANCORP INC COMM 85227J106   3,384,119 284,141 SH   SOLE   284,141 0 0
TELA BIO INC COMM 872381108   1,078,418 357,092 SH   SOLE   357,092 0 0
XTANT MEDICAL HOLDINGS INC COMM 98420P308   21,472 48,469 SH   SOLE   48,469 0 0