Monday, August 8, 2016

During the Obama Administration, the 3,781 Largest US Companies With Market Caps Above $50 Mil Generated Total Audited US GAAP Earnings of $899 Bil in 2015, Up $930 Bil From the Total Losses of $31 Bil in 2008, the Year Before Obama Took Office..... This Is Why the US Stock Market Is Now at an All-Time High, Why US Job Creation Has Been Consistently Very Robust and Thus Why the US Unemployment Rate Has Declined By More Than Half Since 2009 and Why Both Donald Trump and Hillary Clinton Are Now Chasing an Economic Ghost ..... They Have No Chance in Coming Close To Matching Obama on the US Economy, Which is Certain to Decline From Its Present Elevated State After Obama Leaves Office ..... The Key Issue to Voters Should Be Which One Will Cause the US Economy to Decline the Least ..... After All, the Total Earnings of US Companies Improved More During the Obama Administration Than Under Any Other US Presidency and by a Long Shot ..... But to be Fair, 2015 Total Earnings of These 3,781 US Companies Were Down 21% From 2014, Due Mainly to the 2,804 US Companies, or 74% of Them, With Market Caps of $50 Mil to $3 Bil, the Smallest of these 3,781 US Companies, Generating Total Losses of $33.148 Bil in 2015, Down 142% or Down $110 Bil From Their Total Earnings of $78.042 Bil in 2014 ..... When Real US GAAP Earnings, Which Most CEOs Base Their Decisions On, Drop in 2014 and Also Drop So Precipitously in Both 2015 and in the First Half of 2016, Business Investment Drops, GDP Growth Stagnates and Many Higher-Paying US Jobs Disappear

From a review of the very fine Google Finance Website and of company financial statements in the US SEC website, I found the 3,781 largest Companies headquartered in the US with Stock Market Capitalizations now of more than $50 Mil.

As you can see in the below chart, the Total US GAAP Audited Earnings of these largest US Companies dropped massively by 105% from 2007 to 2008, which was the US financial meltdown year and also the last year of the Bush/Cheney Presidency.  Then, these Total Earnings increased by an almost unbelievable 1,289% in 2009 over 2008 and increased by an additional 116% in 2010 over 2009, thereby much more than recouping in only two years the total earnings decline resulting from the disastrous 2008 financial meltdown.

The Democrats were in control of both the US House and US Senate in both 2009 and 2010 when this miraculous earnings recovery occurred ..... from Total Company Losses in 2008 of $31 Bil to Total Company Earnings in 2009 of $368 Bil and in 2010 of $797 Bil.

But on the downside, 2015 Total Earnings of these 3,781 largest US Companies were down 21% from 2014, after 2014 Total Earnings had already declined by another 10% from 2013.

While the 113 Companies with Market Caps above $40 Bil generated 2015 Total Earnings which declined by only 0.1% from 2014, the 2,804 middle-sized and smaller of these US Companies, those with Market Cap Ranges from $50 Mil to $3 Bil, generated 2015 Total Losses of $33.148 Bil which were down 142% from 2014 Total Earnings of $78.042 Bil (yeah, that's a Total Earnings Decline in only one year of $110 Bil).  And this followed a very weak 2014 where Total Earnings for these smaller 2,804 US Companies declined by another $108 Bil or by 58% below 2013 Total Earnings of $186.513 Bil (yeah, that's a Total Earnings Decline of $218 Bil in the most recent two years).

These above real US GAAP earnings numbers tell you that there is something seriously unfair with the US economy and points to why Income Inequality Expansion is such a serious problem in the US.  When Total Real Audited US GAAP Earnings drop so precipitously and across the board, CEOs drop their business investment budgets, US Real GDP Growth stagnates and many higher-paying US jobs disappear. 

Nearly all of the US House Republicans and also the Big Corporatist Democratic Wing in the US Senate, which now comprises a clear majority of US Senate Democrats, have both focused much more on the success of the very largest, most profitable US Companies than they have on the success of the middle-sized and smaller US C Corp Companies.

This Big Corporatist Democratic Wing is led by New York Senator Chuck Schumer and includes among others Virginia Senators Mark Warner and Tim Kaine, New Jersey Senators Bob Menendez and Cory Booker, Minnesota Senators Amy Klobachur and Al Franken and California Senators Dianne Feinstein and Barbara Boxer.  These US States are HQs to many very large, highly profitable Corporations that have been very effective in having their US State Senators consistently taking actions which economically benefited them, nothing more so than the PATH Act of 2015 which not only has really hurt the overall US economy and was extremely expensive, but also is the largest Income Inequality Expansion legislation passed in the last decade and will continue to expand Income Inequality for many years to come.

The horrible US Company Total Earnings of the past two and a half years, which has hurt the middle-sized and smaller US Companies much more than the largest US Companies, along with the resultant huge expansion of Income Inequality, tells you why so many Americans are very disappointed with both parties of the US Congress and have become political Independents.

It also tells you why so many Americans turned to anti-establishment US Presidential candidates Donald Trump and Bernie Sanders.

It is pretty clear that the Big US Corporations are in complete control of the US Congress on all matters related to their earnings.  

And the middle-sized and smaller companies are not even on the radar screen of the US Congress.  

The US Congress, both political parties, is responsible for the across-the-board, massive earnings depression of middle-sized and smaller US publicly-held Companies in the most recent two and a half years, as well as for the resultant huge Income Inequality Expansion.

By giving huge tax breaks to the largest, most profitable US Companies and not giving the same tax breaks to the middle-sized and smaller publicly-held US Companies because they have tax losses, the US Congress has ensured that these middle-sized and smaller US Companies will not be able to compete with the largest, most profitable US Corporations.

And also, the US Congress in the PATH ACT of 2015 gives $80 bil of tax breaks to the largest, multi-national US Banks and gives no tax breaks to middle-sized and smaller US banks.  How can smaller US banks compete with the largest US Banks who are given a second US Government bailout.....this one for $80 bil and also this one will not be repaid to US taxpayers.

Rich people call this tax policy the effective use of American exceptionalism.  I call it economic and social injustice.....pure and simple. 

As contrasted with the US Congress overwhelmingly being focused on the success of the very largest, powerful Corporations which ends up Expanding Income Inequality, they should be doing just the opposite and focusing more on improving the middle-sized and smaller US Companies which ends up Narrowing Income Inequality.

I think the single smartest initiative here is to allow, on a prospective basis, a current US Federal Income Tax Cash Benefit in the same year a Tax Loss is generated.  This would be so economically explosive to the majority of US Companies that I think it would yield US real annual GDP growth above 4% for many years.  And such a broad-based economic approach will Narrow Income Inequality significantly.  

First, below here are the total reported Audited US GAAP Earnings (Losses) From Continuing Operations of these 3,781 largest US Companies for all years where consistent earnings amounts were reported from 2007 through 2015 and the Annual Earnings Percentage Change from the prior year, with the Total Earnings amounts broken down by Company Stock Market Capitalization Range:


2015 2014 2013 2012 2011 2010 2009 2008 2007


US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP


Audited Audited Audited Audited Audited Audited Audited Audited Audited


Net Net Net Net Net Net Net Net Net
# of Income Income Income Income Income Income Income Income Income
Company Market Cap Range Companies (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

 $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils











Above $40 Bil 113   646,812     647,485     678,815   590,929   594,543   507,526   341,877   163,115   373,271
$30-40 Bil 37     56,327       69,062       52,892     40,872     46,630     38,726     27,332     10,971     44,619
$20-30 Bil 86     61,336       87,215       92,080     71,735     85,234     61,015     29,726     20,906     63,825
$10-20 Bil 180     67,550     110,192     107,529     87,041     90,470     75,685     34,094   (12,248)     50,945
$5-10 Bil 285     74,330     104,741     102,157     83,358     65,700     67,061     34,103   (30,363)     48,293
$3-5 Bil 276     25,994       39,502       43,012     37,251     28,626     32,726       9,488     (5,790)     21,146
$2-3 Bil 308     11,380       42,827     107,064     36,876       1,284       3,393   (75,462)   (64,054)     13,018
$1-2 Bil 522       2,088       31,939       70,086     34,277     15,124       3,397   (19,246)   (74,092)       8,331
$700 Mil-$1 Bil 236     (4,383)         8,551         8,021       4,529       4,609       4,155          159     (7,158)       3,125
$600-700 Mil 116     (1,485)            602            895          747       1,232       1,018        (405)     (1,681)            18
$500-600 Mil 117        (252)            982            385          612          503          214        (355)     (2,730)          657
$400-500 Mil 165     (4,295)           (326)         2,546       3,764       2,022       1,644            63     (1,848)     (1,647)
$300-400 Mil 208     (4,364)            163         1,026        (444)       1,396       1,870     (2,062)     (7,495)        (645)
$200-300 Mil 285   (14,363)           (531)           (254)     (2,365)     (1,072)          184     (3,891)     (6,148)     (1,738)
$100-200 Mil 450     (9,788)        (3,455)           (951)        (296)        (236)        (423)     (5,146)     (8,903)        (839)
$50-100 Mil 397     (7,687)        (2,710)        (2,305)     (1,529)        (673)        (743)     (1,904)     (3,469)          597
Totals (All Above $50 Mil) 3781   899,201  1,136,239  1,262,998   987,358   935,391   797,448   368,370   (30,985)   622,976











Annual Earnings % Change vs Prior Year









Above $40 Bil 113 -0.1% -5% 15% -1% 17% 48% 110% -56%
$30-40 Bil 37 -18% 31% 29% -12% 20% 42% 149% -75%
$20-30 Bil 86 -30% -5% 28% -16% 40% 105% 42% -67%
$10-20 Bil 180 -39% 2% 24% -4% 20% 122% 378% -124%
$5-10 Bil 285 -29% 3% 23% 27% -2% 97% 212% -163%
$3-5 Bil 276 -34% -8% 15% 30% -13% 245% 264% -127%
$2-3 Bil 308 -73% -60% 190% 2772% -62% 104% -18% -592%
$1-2 Bil 522 -93% -54% 104% 127% 345% 118% 74% -989%
$700 Mil-$1 Bil 236 -151% 7% 77% -2% 11% 2518% 102% -329%
$600-700 Mil 116 -347% -33% 20% -39% 21% 351% 76% -9397%
$500-600 Mil 117 -126% 155% -37% 22% 134% 160% 87% -515%
$400-500 Mil 165 -1219% -113% -32% 86% 23% 2506% -103% -12%
$300-400 Mil 208 -2772% -84% 331% -132% -25% 191% 72% -1062%
$200-300 Mil 285 -2604% -109% 89% -121% -684% 105% 37% -254%
$100-200 Mil 450 -183% -263% -222% -25% 44% 92% 42% -961%
$50-100 Mil 397 -184% -18% -51% -127% 9% 61% 45% -681%
Totals (All Above $50 Mil) 3781 -21% -10% 28% 6% 17% 116% 1289% -105%











2015 Total Earnings  % Above 









….. 2008 Total Earnings
3002%





….. 2007 Total Earnings
44%





























All Mkt Caps of $50 Mil to $3 Bil       2,804   (33,148)       78,042    





….. Total Earnings Decline 2015 vs 2014
-142%







In my most recent posts, I have shown the US GAAP Audited Earnings (Losses) for each of the 3,384 largest US Companies with stock market capitalizations of above $100 Mil.  Thus, below here are the reported Audited US GAAP Earnings (Losses) From Continuing Operations of each of the 397 US Companies with recent stock market caps of $50 Mil-$100 Mil, for all years in which consistent earnings amounts were available from 2007 through 2015, with all companies presented in recent Stock Market Cap order:




2015 2014 2013 2012 2011 2010 2009 2008 2007



Most Audited Audited Audited Audited Audited Audited Audited Audited Audited



Recent Net Net Net Net Net Net Net Net Net
City State 2015 Income Income Income Income Income Income Income Income Income
Company HQs HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)



 $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils













Wave Sync New York NY Dec 15            (1)            (1)






Clearside Biomedical Alpharetta GA Dec 15          (17)          (10)            (7)





Uranium Energy Corpus Christi TX Jul15          (23)          (26)          (22)          (25)          (27)          (23)          (13)          (19)            (8)
Atari Therspeutics New York NY Dec 15          (45)            (2)






US 12 Month Oil Fund LP Oakland CA Dec 15          (28)          (19)              6          (10)              3            11            71            (2)              2
Sizmek Inc Austin TX Dec15        (137)        (114)            (5)        (238)          (18)            (3)          (28)

Resolute Energy Denver CO Dec 15        (742)          (22)        (114)            18            30              6          (45)              4              3
Jernigan Capital Memphis TN Dec 15            (3)







US Brent Oil Fund LP Oakland CA Dec 15          (44)          (26)              2              4              6              3


First Acceptance Corp Nashville TN Dec15            (2)            28              9            (9)          (85)              7          (68)          (18)          (17)
Rocket Fuel Inc Redwood City CA Dec15        (211)          (64)          (21)          (10)            (4)            (3)


United Security Bancshares Fresno CA Dec 15              7              6              7              6          (11)            (4)            (5)              4            11
Chicopee Bancorp Chicopee MA Dec 15              3            (1)              3              2              1            (0)            (2)              0              2
First South Bancorp Washington NC Dec 15              5              4              6          (11)              2            (2)              7            11            17
Southcoast Financial Corp Mt Pleasant SC Dec15              4              4              9              4          (16)              0            (9)              0              3
Tecogen Waltham MA Dec 15            (3)            (4)            (4)            (2)            (2)            (1)            (1)

Chesapeake Granite Wash Trust Austin TX Dec 15            53            84          105          117            27



Fuel Systems Solutions Inc New York NY Dec15          (47)          (53)            (0)          (16)              5            40            50            24              8
LaPorte Bancorp Laporte IN Dec 15              5              4              4              4              3              3              3            (0)
Saratoga Investment Corp New York NY Feb16            12            11              8            14            13            17          (10)          (21)            (5)
Energy & Technology Corp Lafayette LA Dec 15              1            (2)            (0)            (0)            (0)            (2)              0              1              0
Marin Software Inc San Francisco CA Dec15          (33)          (33)          (36)          (26)          (17)          (11)          (10)            (7)
Pangaea Logistics Solutions Newport RI Dec 15            13          (14)            16





ASB Bancorp Inc Asheville NC Dec15              4              2              1              1              1            (9)              2              2              5
First Bancshares Hattiesburg MS Dec 15              9              7              5              4              3              3              2              2              4
Forestar Group Austin TX Dec15        (212)            17            29            13              7              5            59            12            25
Frequency Electronics Mitchell Field NY Apr16              1              3              4              4              7              6              3          (11)              1
ENB Financial Ephrata PA Dec 15              7              7              8              8              7              6              4              4              5
Galena Biopharma Inc Portland OR Dec15          (39)          (28)          (71)          (33)            (3)          (12)          (18)          (14)          (11)
J.W. Mays Inc Brooklyn NY Jul15              2              1              1              1              1              1              1            (0)              2
Old Point Financial Hampton VA Dec 15              4              4              3              4              3              2              2              7              8
Ashford Inc Dallas TX Dec15          (12)          (47)          (48)          (38)          (33)          (25)          (23)

Atlantic Coast Financial Corp Waycross GA Dec15              8              1          (11)            (7)          (10)          (14)          (29)            (3)              1
Capstone Financial Group East Amherst NY Dec 15            (3)            11            (0)            (0)




Carolina Bank Holding Greensboro NC Dec 15              6              3              4              8              2            (2)            (0)              2              3
Landmark Bancorp Manhattan KS Dec 15            11              8              5              6              4              2              3              5              5
Remark Media Las Vegas NV Dec 15          (31)          (18)            (7)            (6)            (7)            (6)          (12)          (22)          (15)
Select Bancorp Dunn NC Dec 15              7              2              3              5            (0)            (5)            (8)            (0)              2
Research Frontiers Inc Woodbury NY Dec15            (4)            (4)            (6)            (3)            (4)            (4)            (4)            (3)            (8)
Sun Biopharma Inc Waconia MN Dec 15            (5)            (4)    





VSE Corp Alexandria VA Dec 15            25            20            24            27            20            24            24            19            14
Hugoton Royalty Trust Dallas TX Dec 15              8            44            35            23            56            62            29          116            69
CB Financial Services Carmichaels PA Dec 15              8              4              4              4              4              4


Ohio Valley Banc Corp Gallipolis OH Dec15              9              8              8              7              6              5              7              7              6
Two Rivers Bancorp Tinton Falls NJ Dec 15              6              6              5              5              4              4            (5)              1              4
Helius Medical Technologies Newtown PA Mar16            (7)          (10)            (1)            (9)




Bank of Commerce Holdings Redding CA Dec 15              8              6              8              7              6              6              6              2              6
Bovie Medical Corp Purchase NY Dec 15            (5)          (17)            (4)              1              0            (2)              1              2              4
Covisint Southfield MI Mar16          (15)          (39)          (36)            (6)            (3)



First National Community Bancorp Dumore PA Dec 15            36            13              6          (14)            (0)          (32)          (44)            15            15
Houston Wire & Cable Company Houston TX Dec15              2            15              8            17            20              9              8            24            30
Jetpay Corp Radnor PA Dec 15            (1)            (7)            (5)            (0)              2



Sotherly Hotels Williamsburg VA Dec 15              6            (1)            (4)            (5)            (6)            (3)            (3)            (1)              4
US Geothermal Boise ID Dec 15              6              5              4            (4)            (6)            (6)            (5)            (4)            (2)
22nd Century Group Inc Clarence NY Dec15          (11)          (16)          (26)            (7)            (1)            (1)


Howard Bancorp Ellicott City MD Dec 15              1            10              2              2              1              1            (2)              0    
Strongbridge Biopharma plc Trevose PA Dec 15          (44)          (10)            (5)





Spring Bank Pharmaceuticals Hopkinton MA Dec 15          (12)          (10)            (7)





Nanosphere Northbrook IL Dec 15          (31)          (39)          (35)          (33)          (35)          (41)          (34)          (37)          (53)
Kura Oncology La Jolla CA Dec 15          (23)            (4)






Recro Pharma Malvern PA Dec 15              3          (16)            (2)            (2)




Synacor Inc Buffalo NY Dec 15            (3)          (13)            (1)              4            10            (4)              0            (6)            (2)
Celsius Holdings Boca Raton FL Dec 15            (2)            (2)






MGT Capital Investments Inc Harrison NY Dec 15            (4)            (4)          (11)            (5)            (8)          (13)          (32)          (28)          (18)
Synthesis Energy Systems Houston TX Jun15          (39)          (14)          (20)          (20)          (16)          (25)          (29)          (28)          (13)
Liquidmetal Technologies Rancho Santa Margarita CA Dec 15            (7)            (7)          (14)          (14)              6          (15)              0            (6)            (5)
Alimera Sciences Inc Alpharetta GA Dec15          (31)          (36)          (46)          (20)          (23)          (18)          (44)          (61)          (11)
Atlantic American Corp Atlanta GA Dec 15              4              4            11              4              3              1            (1)            (0)            12
Bank of SC Corp Charleston SC Dec 15              5              4              4              4              3              3              2              3              4
SmartFinancial Knoxville TN Dec 15              2              2              2              1              1            (5)            (8)              3              1
Willdan Group Anaheim CA Dec 15              4              9              3          (17)              2              3            (6)            (2)              2
Skyline Corp Elkhart IN May16              2            (4)          (12)          (11)          (19)          (27)          (28)          (15)            (5)
Cumulus Media Atlanta GA Dec 15        (546)            12            44        (112)          (18)            29        (127)        (362)        (224)
First Northern Community Bancorp Dixon CA Dec 15              7              6              5              5              3              3            (1)            (1)              7
Five Oaks Investment Corp New York NY Dec 15              0              3              3              5




Juniata Valley Financial Mifflintown PA Dec 15              3              4              4              4              5              5              5              6              5
Kentucky Bancshares Paris KY Dec 15              7              7              6              7              6              5              5              4              7
PC Tel Inc Bloomingdale IL Dec15            (2)              5              3            (7)              2            (3)            (4)              1              6
River Valley Bancorp Madison IN Dec 15              6              5              4              4              2              2              2              2              2
Universal Stainless & Alloy Products Bridgeville PA Dec 15          (21)              4            (4)            15            18            13            (3)            14            23
Wayside Technology Group Shrewsbury NJ Dec 15              6              6              6              5              6              4              3              3              4
Javelin Mortgage Investment Corp Vero Beach FL Dec 15            (0)          (22)          (44)              6




MOCON Inc Minneapolis MN Dec 15              3              2              3              2              5              5              3              4              4
Parke Bancorp Washington Township NJ Dec 15            12            12              9              8              8              7              6              4              6
Peregrine Pharmaceuticals  Tustin CA Apr16          (56)          (50)          (35)          (30)          (42)          (34)          (14)          (17)          (23)
Destination Maternity Moorestown NJ Jan16            (4)            10            24            19            23            17          (41)            (1)            (0)
United States Gasoline Fund LP Oakland CA Dec 15            (9)          (27)              3            14            14              6            33          (10)
Alaska Communications Systems Group Inc Anchorage AK Dec15            13            (3)          158            17              0          (31)            34          (12)          144
Chembio Diagnostics Medford NY Dec 15            (2)            (1)              1              1              6              3              0            (2)            (8)
Fenix Parts Inc Westchester IL Dec 15          (26)            (5)






FS Bancorp Mountlake Terrace WA Dec 15              9              5              4              5              2              2            (5)            (4)            (4)
Mirna Therapeutics Austin TX Dec 15          (25)          (16)            (6)            (4)




Navidea Biopharmaceuticals Inc Dublin OH Dec15          (28)          (36)          (43)          (29)          (17)          (54)          (42)            (8)            (7)
Gemphire Therapeutics Northville MI Dec 15            (9)            (0)            (0)





Solarwindow Technologies Columbia MD Aug15            (8)            (4)            (4)            (2)            (4)            (0)              2            (6)
Interlink Electronics Westlake Village CA Dec 15              2              2            (0)





ADMA Biologics Inc Ramsey NJ Dec 15          (18)          (17)          (16)            (7)            (6)



Eagle Financial Services Berryville VA Dec 15              7              7              7              7              4              4              3              4              5
Enphase Energy Inc Petaluma CA Dec15          (22)            (8)          (26)          (38)          (32)          (22)          (17)          (15)            (3)
Fidelity D&D Bancorp Dunmore PA Dec 15              7              6              7              5              5            (3)            (1)              4              5
Infinity Pharmaceuticals Cambridge MA Dec15        (128)          (17)        (127)          (54)          (40)          (49)          (31)            24          (17)
Northwest Indiana Bancorp Munster IN Dec 15              8              7              7              7              5              5              2              6              6
Root9b Technologies Inc Charlotte NC Dec15            (8)          (24)            (6)          (10)              0              0              0            (1)              0
Salisbury Bancorp Lakeville CT Dec 15              8              3              4              4              4              4              2              1              4
Zynerba Pharmaceuticals Devon PA Dec 15          (13)            (6)            (1)            (1)




S&W Seed Company Fresno CA Jun15            (2)              0            (3)              0            (1)              0              0

Cenveo Inc Stamford CT Dec15          (19)          (95)          (86)          (81)            (9)        (205)          (49)        (308)            15
F&M Bank Corp Timberville VA Dec 15              8              6              5              5              5              4              2              3              4
iCAD Inc Nashua NH Dec 15          (32)            (1)            (8)            (9)          (38)            (6)            (2)              4            (2)
L S Starrett Co Athol MA Jun15              5              7            (0)              1              7            (8)          (23)            11              7
Escue Energy Dallas TX Dec 15            (0)              1






OHR Pharmaceutical New York NY Sep15          (15)            (9)            (6)            (1)            (5)            (0)            (1)            (1)
Golden Minerals Co Golden CO Dec 15          (25)          (19)        (240)          (92)          (63)          (33)          223          (64)          (51)
Actinium Pharmaceuticals New York NY Dec 15          (21)          (25)          (11)            (8)            (3)



Computer Task Group Inc Buffalo NY Dec15              7            10            16            16            12              8              6              8              4
Dover Motorsports  Dover DE Dec 15              5              3              2              5            (9)              1            (4)            (6)              4
Lake Shore Bancorp Dunkirk NY Dec 15              3              3              4              4              4              3              2              1              2
Oak Valley Bancorp Oakdale CA Dec 15              5              7              6              6              6              5              2              2              4
PAR Technology New Hartford NY Dec 15              4              0              1            (2)          (13)              5            (5)              2            (3)
Zafgen Inc Boston MA Dec 15          (74)          (36)          (14)          (14)          (13)



Key Tronic Spokane WA Jun15              4              8            13            12              6              9              1              6              5
Eleven Biotherapeutics Cambridge MA Dec 15          (33)          (34)          (18)          (20)          (13)



First Clover Leaf Financial Edwardsville IL Dec 15              5              4              3              4              2              4            (9)              3              2
Harvest Capital Credit Corp New York NY Dec 15              6              9              4              4            (0)



Hawthorn Bancshares Jefferson City MO Dec 15              9              8              5              3              3            (4)              5          (31)              8
Security National Financial Salt Lake City UT Dec 15            13              8              8            17              1            (0)              4              1              2
SandRidge Mississippi Trust II Austin TX Dec 15            42            78          114            68




Amtech Systems Tempe AZ Sep15            (7)          (14)          (22)          (28)            22            10            (2)              3              2
Westbury Bancorp West Bend WI Sep15              4            (1)              1            (4)            (8)            (1)              0

Colony Bankcorp Fitzgerald GA Dec 15              8              8              5              3              3              0          (19)              2              9
Embassy Bancorp Bethlehem PA Dec 15              7              6              6              6              5              5              3              1              2
Juniper Pharmaceuticals Inc Boston MA Dec15            (2)              3              7            10            21          (22)          (22)          (14)          (14)
Kindred Biosciences Burlingame CA Dec 15          (27)          (27)            (4)            (0)




MRV Communications Inc Chatsworth CA Dec15            (7)          (15)            (9)            (9)            (6)              1            15          (14)          (19)
Sharps Compliance Corp Houston TX Jun15              1              1            (3)            (4)            (3)              9              4              0              1
Ark Restaurants New York NY Sep15              6              6              5              7              2              2              3              7              8
Richardson Electronics Ltd Lafox IL May16            (7)            (6)            (0)              0              8              2            (4)          (28)          (27)
eMagin Corporation Bellevue WA Dec 15            (4)            (5)          (14)              2              5            (1)              4            (2)          (18)
HopFed Bancorp Hopkinsville KY Dec 15              2              2              4              4              3              7              2              5              4
Netlist Inc Irvine CA Dec 15          (21)          (15)          (11)          (14)            (6)          (15)          (13)          (15)            (7)
Severn Bancorp Annapolis MD Dec 15              5              3          (25)              4              2              1          (15)              4            11
Tenax Therapeutics Morrisville NC Apr15          (14)          (20)            (9)          (16)          (10)          (11)          (33)            (7)            (3)
North European Oil Royalty Trust Red Bank NJ Oct15            12            18            21            23            24            19            28            34            27
Sensus Healthcare Boca Raton FL Dec 15            (0)            (4)              0





First Savings Financial Group Clarksville IN Sep15              7              5              5              4              4              3              0            (0)              1
Providence & Worcester Railroad Co Worcester MA Dec 15              2              3              1              4              1            (0)            (1)              0            (1)
IF Bancorp Watseka IL Jun15              3              3              4              1              3              3              2              2              1
Arotech Corp Ann Arbor MI Dec 15            (3)              3              2            (2)            (5)            (1)            (3)            (4)            (4)
Cerulean Pharma Waltham MA Dec 15          (40)          (23)          (17)          (22)          (19)



GlobalSCAPE San Antonio TX Dec 15              5              3              4            (2)              1              1              1            (8)              4
Granite Falls Energy LLC Granite Falls MN Oct15            17            59            11              0            12              8              1            (8)            16
XOMA Corp Berkeley CA Dec15          (21)          (38)        (124)          (71)          (33)          (69)              1          (45)          (12)
Goldfield Corp Melbourne FL Dec 15              5              0              5            12              1            (0)            (2)            (5)            (2)
Mid-Con Energy Partners LP Tulsa OK Dec 15          (95)            22            28            30            19              1              3              1
ANADIGICS Warren NJ Dec 15          (23)          (39)          (54)          (70)          (49)              1          (57)          (42)              7
Four Oaks Fincorp Four Oaks NC Dec 15            20            (4)            (0)            (7)            (9)          (28)            (2)              4
Gas Natural Mentor OH Dec 15              1              3              6              3              4              6              7              3              2
Rocky Brands Nelsonville OH Dec 15              7            10              7              9              8              8              1              1          (23)
Applied DNA Sciences Stony Brook NY Sep15          (12)          (13)          (18)            (7)          (11)            (8)              4            (7)          (13)
aTyr Pharma San Diego CA Dec 15          (48)          (24)          (20)          (13)




Hansen Medical Mountain View CA Dec 15          (46)          (54)          (56)          (22)          (17)          (38)          (52)          (58)          (51)
GTx Inc Memphis TN Dec15          (19)          (39)          (42)          (41)          (35)            16          (46)          (52)          (40)
Guaranty Federal Bancshares Springfield MO Dec 15              6              6              5              2              4              1            (2)            (5)              6
GulfMark Offshore Inc Houston TX Dec15        (215)            62            71            19            50          (35)            51          184            99
Mid Penn Bancorp Millersburg PA Dec 15              7              6              5              5              5              3            (2)              4              5
Nivalis Therapeutics Boulder CO Dec 15          (23)          (15)          (16)          (10)




Ur-Energy Littleton CO Dec 15            (1)            (9)          (30)          (18)          (16)          (16)          (17)

Biolase Irvine CA Dec 15          (20)          (19)          (11)            (3)            (4)          (12)            (3)            (9)            (7)
Bowl America Alexandria VA Jun15              2              1              1              1              2              2              3              4              4
ARI Network Service Milwaukee WI Jul15              1            (0)            (1)              1              2              1              1              1              0
Amyris Inc Emeryville CA Dec15        (218)              2        (235)        (206)        (180)          (83)          (65)          (42)          (12)
Ballantyne Strong Inc Omaha NE Dec 15          (17)            (0)              0              6            10              8              2            (3)              0
Middlefield Banc Corp Middlefield OH Dec 15              7              7              7              6              4              3              2              3              3
Heron Lake BioEnergy Heron Lake MN Dec 15              7            24              2          (32)              1              2          (11)              9            (5)
Sunshine Bancorp Plant City FL Dec 15            (2)            (2)              0            (0)              1



Golden Growers Coop Fargo ND Dec 15              5              5              5              5              5              5              5              6              5
AVEO Pharmaceuticals Cambridge MA Dec 15          (15)          (53)        (107)        (114)            31          (59)          (44)          (32)          (25)
Cumberland Pharmaceuticals Inc Nashville TN Dec15              1              2            (2)              6              6              2              3              5              4
Mackinac Financial Corp Manistique MI Dec 15              6              2              6              7              2            (0)              2            10
Sussex Bancorp Franklin NJ Dec 15              4              3              1              1              2              2              2            (1)              2
Moleculin Biotech Houston TX Dec 15            (1)







Chiasma Newton Centre MA Dec 15          (36)            (2)            36





Energy Focus Solon OH Dec 15              9            (4)            (6)            (4)            (4)            (9)          (10)          (13)          (11)
Natural Alternatives Intl San Marcos CA Jun15              3              2              2              4              5              4            (0)              1              3
Randolph Bancorp Stoughton MA Dec 15            (1)            (2)            (3)              2              1



Acme United Corp Fairfield CT Dec 15              5              5              4              4              3              3              3              4              4
BIOLASE Inc Irvine CA Dec 15          (20)          (19)          (11)            (3)            (4)          (12)            (3)            (9)            (7)
Choiceone Financial Services Sparta MI Dec 15              6              6              5              4              4              3              1              1              4
DNB Financial Downingtown PA Dec 15              5              5              4              5              5              4              2              1              2
Protalex Inc Florham Park NJ May15            (9)          (12)          (12)            (6)            (4)            (3)            (3)            (7)          (10)
Sunworks Roseville CA Dec 15              1          (25)            (4)            (2)            (2)            (1)        
Patriot Transportation Holding Jackonsville FL Sep15              3              3              5              4              4



Track Group Salt Lake City UT Sep15            (6)            (9)          (18)          (17)          (10)          (14)          (23)          (49)          (26)
Bancorp of New Jersey Fort Lee NJ Dec 15              5              4              5              4              3              2              1              1              1
Christopher & Banks Corp Plymouth MN Jan 16          (49)            47              9          (16)          (71)          (22)              0            (8)            25
Community Bancorp VT Derby VT Dec 15              5              5              5              4              4              4              4              2              3
Intermolecular Inc San Jose CA Dec15          (21)          (22)            (9)            (1)          (30)            (2)            (5)          (10)          (10)
MaxPoint Interactive Inc Morrisville NC Dec 15          (22)          (13)            (0)            (7)            (5)



Microvision Inc Redmond WA Dec15          (15)          (18)          (13)          (23)          (36)          (47)          (40)          (33)          (20)
RCM Technologies Pennsauken NJ Dec 15              6              7              2              3              4              6              7          (40)              7
RELM Wireless Corp West Melbourne FL Dec 15              1              2              1              2            (0)            (1)              2            (2)              2
Unico American Corp Woodland Hills CA Dec 15            (1)              1              1              2              4              2              3              5              7
Pacific Coast Oil Trust Austin TX Dec 15            10            54            69            41




Transcat Rochester NY Mar16              4              4              4              4              3              3              1              2              2
Catabasis Pharmaceuticals Cambridge MA Dec 15          (33)          (22)          (18)          (16)




Digital Turbine Inc Austin TX Mar16          (28)          (25)          (17)          (14)          (31)          (14)          (44)          (41)            (2)
eGain Corp Sunnyvale CA Jun15          (12)            (5)              1            (4)              8            (0)              2            (4)            (8)
Mirati Therapeutics San Diego CA Dec 15          (65)          (44)          (53)          (20)          (10)



Peak Resorts Inc Wildwood MO Apr16            (3)            (2)            (2)              3            (5)            (4)              3            (0)            (3)
QuickLogic Corp Sunnyvale CA Dec 15          (18)          (13)          (12)          (12)            (8)              0          (10)            (9)          (11)
Parkervision Jacksonville FL Dec 15          (17)          (24)          (28)          (20)          (15)          (15)          (22)          (23)          (18)
Milestone Scientific Livingston NJ Dec 15            (6)            (2)              1            (1)            (1)            (1)            (2)            (1)            (3)
Town Sports Intl Holdings New York NY Dec 15            21          (69)            12            12              6            (0)            (6)              2            14
Aradigm Hayward CA Dec 15          (17)              5          (22)            (8)            (9)            (5)          (14)          (23)          (24)
Royal Bancshares of Penn Narberth PA Dec 15            12              5              2          (17)            (8)          (24)          (32)          (38)            (1)
Capital Properties East Providence RI Dec 15              2              1              1              2              2              2              1              2              1
Gaming Partners Intl Las Vegas NV Dec 15              7              3              1              6              4              4              1              4              0
StarTek Greenwood Village CO Dec 15          (16)            (5)            (6)          (10)          (26)          (19)              0          (10)            (3)
Kentucky First Federal Hazard KY Jun15              2              2              3              2              2              0              1              1              1
MV Oil Trust Austin TX Dec 15            15            39            37            41            40            32            18            21            33
Comstock Mining Virginia City NV Dec 15          (10)          (10)          (21)          (31)          (12)          (60)            (6)          (16)            (4)
ModusLink Global Solutions Waltham MA Jul15          (18)          (16)          (39)          (28)          (18)            (9)        (200)              5            37
American River Bankshares Rancho Cordova CA Dec 15              5              4              3              3              3              0              2              8              8
BSQUARE Corp Bellevue WA Dec15              6              2            (5)              1            (0)              6            (3)              2              2
I.D. Systems Woodcliff Lake NJ Dec 15          (10)          (12)            (7)            (3)            (4)          (13)          (13)            (4)            (7)
Kingstone Companies Inc Kingston NY Dec 15              7              5              2              1              3              1              5              0            (0)
Lakeland Industries Inc Ronkonkoma NY Jan16              8            11            (0)          (26)              1              1              2              5              4
Poage Bankshares Ashland KY Dec 15              3              2            (0)              2              2              2              1              0              0
Taylor Devices North Tonawanda NY May15              2              1              3              2              1              2              1              1
Dolphin Digital Media Coral Gables FL Dec 15            (4)            (2)            (2)            (3)            (1)            (6)            (5)          (15)            (8)
Datawatch Bedford MA Sep15          (50)          (22)            (4)              1              0              0            (5)              1              2
Cortland Bancorp Cortland OH Dec 15              4              4              2              3              4              3            (6)              2              4
CSB Bancorp OH Millersburg OH Dec 15              6              6              5              5              4              3              3              4              4
Pieris Pharmaceuticals Boston MA Dec 15          (14)          (10)              0





TRACON Pharmaceuticals San Diego CA Dec 15          (24)            (7)            (8)            (5)




Capricor Therapeutics Beverly Hills CA Dec 15          (13)            (6)            (9)            (2)            (5)            (6)            (8)          (13)          (10)
Barfresh Food Group Beverly Hills CA Mar15            (4)            (3)            (0)            (0)




PB Bancorp Putnam CT Jun15              1              1              1              1              1



Global Power Equipment Group Irving TX Dec 15            11            12            18            63            29            38            18            11          (21)
Valeritas Bridgewater NJ Dec 15          (67)          (66)






CareDx Inc Brisbane CA Dec 15          (14)              1            (4)            (5)




Community West Bancshares Goleta CA Dec 15              3              7              9              3          (10)              2            (6)              1              4
Hudson Global New York NY Dec 15              2          (16)          (30)            (7)              4            (5)          (43)          (73)              6
Mast Therapeutics San Diego CA Dec 15          (40)          (29)          (21)          (16)          (13)            (8)          (11)          (27)          (22)
PURE Bioscience El Cajon CA Jul15            (8)          (11)            (8)            (9)            (8)            (7)            (7)            (7)            (5)
Lonestar Resources (US) Fort Worth TX Dec 15          (27)            36            25





BlueLinx Holdings Atlanta GA Dec 15          (12)          (14)          (41)          (23)          (39)          (53)          (61)          (32)          (28)
Communications Systems Minnetonka MN Dec 15          (10)              2            (1)              2            10            10              6              7              8
hhgregg Inc Indianapolis IN Mar16          (55)        (133)              0            25            81            48            39            36            21
HMN Financial Rochester MN Dec 15              3              7            27              5          (12)          (29)          (11)          (10)            11
Lipocine Inc Salt Lake City UT Dec 15          (18)          (20)          (11)              4




Perma-Fix Environmental Services Atlanta GA Dec 15            (0)            (3)          (34)            (3)            12              3            10              1            (2)
Uniroyal Global Engineered Products Sarasota FL Dec 15              8              5            (0)            (0)




Viveve Medical Inc Sunnyvale CA Dec 15          (12)            (6)            (4)            


Anchor Bancorp Lacey WA Jun15            10              0            (0)            (2)            (9)              0          (20)              1              4
Aeglea Bio Therapeutics Austin TX Dec 15          (11)          (10)            (2)





Calithera Biosciences South San Francisco CA Dec 15          (33)          (22)          (12)            (8)




Rand Worldwide Baltimore MD Jun15              4            10              3              8              2            (5)          (30)        
Prescia plc Irvine CA Dec 15          (18)          (16)            (9)            (5)




bebe Stores Brisbane CA Jun15          (25)          (59)          (69)            13              5              8            18            64            75
Accuride Corp Evansville IN Dec15            (8)            (2)          (26)        (177)          (18)          (14)        (142)        (328)            (9)
Dicerna Pharmaceuticals Cambridge MA Dec 15          (63)          (48)          (19)          (10)            (9)



First United Corp Oakland MD Dec 15            11              6              6              5              4          (10)          (11)              9            13
Galectin Therapeutics Inc Norcross GA Dec 15          (20)          (16)          (12)          (10)          (11)            (6)            (7)            (3)            (9)
HK Graphene Technology Corp Pasadena CA Dec 15            (2)            (1)            (0)            (0)




Retractable Technologies Inc Little Elm TX Dec15              4            (2)            (6)            (4)              1              2            (9)          (10)            (7)
Tandy Leather Factory Fort Worth TX Dec 15              6              8              7              6              5              4              3              3              3
VAALCO Energy Inc Houston TX Dec15        (159)          (78)            43              5            41            42            (4)            36            24
Vermillion Inc Austin TX Dec15          (19)          (19)            (9)            (7)          (18)          (19)          (22)          (18)          (21)
Kewaunee Scientific Statesville NC Apr16              4              4              4              4              2              2              4              5              4
CEL-SCI Vienna VA Dec 15          (35)          (27)            (9)          (15)          (26)            10          (41)            (8)          (10)
XTL Biopharmaceuticals New York NY Dec 15            (4)            (2)            (1)            (1)            (1)            (1)              3          (18)          (17)
Northern Technologies Intl Circle Pines MN Aug15              3              6              5              4              4              3            (3)              3              3
Galectin Therapeutics Norcross GA Dec 15          (20)          (16)          (12)          (10)          (11)            (6)            (7)            (3)            (9)
Nuvectra Plano TX Dec 15          (24)          (21)






One Group Hospitality New York NY Dec 15              7              7          (16)              7              3



Synalloy Corp Spartanburg SC Dec 15          (10)            13              3              4              2              4              0              6              9
Ultralife Corp Newark NY Dec15              3            (2)            (1)            (1)              2            (6)            (9)            14              6
United Bancshares Inc OH Columbus Grove OH Dec 15              6              4              5              4              3              3              3              4              5
United-Guardian Hauppauge NY Dec 15              5              4              6              5              5              4              4              3              3
Sito Mobile Ltd Jersey City NJ Sep15            (5)            (5)            (5)            (3)            (8)          (12)          (14)          (11)          (16)
Broadwind Energy Cicero IL Dec 15          (12)            (2)          (10)          (18)          (21)          (70)        (107)          (25)            (3)
InfuSystem Holdings Madison Heights MI Dec 15              4              3              2            (1)          (45)            (2)              1            10            (3)
Innodata Hackensack NJ Dec 15            (3)            (2)          (13)              6              4            (1)              7              8              5
Provectus Biopharmaceuticals Inc Knoxville TN Dec15          (25)          (10)          (28)          (13)          (19)          (19)          (12)          (10)          (10)
Security Federal Corp Aiken SC Dec 15              6              6              4              2              2              2              2              4              4
Virco Manufacturing Corp Torrance CA Jan 16              5              1            (2)            (4)          (14)          (18)            (1)              2            22
VOXX Intl Corp Hauppauge NY Feb16            (6)            (1)          (27)            22            26            23            22          (71)              7
Pulse Biosciences Burlingame CA Dec 15            (3)            (0)






Profire Energy Lindon UT Mar16              0              6              6              1              3              2              1              1              0
NetSol Technologies Calabasas CA Jun15            (5)          (14)            12              7            10              6            (6)            10
PureBase Yuba City CA Nov15            (1)            (1)            (0)





AMCON Distributing Omaha NE Sep15              6              5              6              7              8              9              8              6              4
Espey Mfg & Electronics Saratoga Springs NY Jun15              3              1              6              4              4              4              3              3
Alliance Healthcare Services Inc Newport Beach CA Dec15            27            26            (8)            (1)        (155)          (29)              4            20            18
Dixie Group Inc Dalton GA Dec 15            (2)              1              6            (1)              1            (4)          (42)          (31)              7
Fate Therapeutics San Diego CA Dec 15          (30)          (26)          (21)          (14)          (13)



Rentech Inc Los Angeles CA Dec15        (211)          (81)          (39)          (52)          (26)          (16)            (0)          (59)          (97)
True Drinks Holdings Irvine CA Dec 15          (12)            (8)            (7)            (3)            (4)            (3)            (2)            (2)            (3)
Violin Memory Inc Santa Clara CA Jan16          (99)        (109)        (150)        (109)          (45)          (17)            (9)

iBio Inc Newark DE Jun15            (7)            (4)            (6)            (6)          (12)            (6)            (2)            (2)            (2)
KemPharm Coralville IA Dec 15          (55)          (24)            (5)





Nobility Homes Ocala FL Oct15              3              1              1              0            (6)            (1)            (1)              2              4
Coastway Bancorp Cranston RI Dec 15              2            (1)              0              1              1              1


Conifer Holdings Birmingham MI Dec 15            (0)            (7)              0              0




Ion Geophysical Corp Houston TX Dec15          (25)        (128)        (247)            63            25          (37)        (110)        (221)            43
Network-1 Technologies Inc New York NY Dec 15              4              2              1              3              8            19            (3)            (2)            (3)
Pixelworks Inc San Jose CA Dec 15          (10)          (10)            (9)            (6)            (7)              0              6              8          (31)
Sound Financial Bancorp Seattle WA Dec 15              5              4              4              3              2              1


UCP Inc San Jose CA Dec 15              6            (8)            (4)              3            (7)



AmeriServ Financial Johnstown PA Dec 15              6              3              5              5              7              1            (5)              6              3
Approach Resources Inc Fort Worth TX Dec15        (174)            56            72              6              7              7            (5)            23              3
Catalyst Pharmaceuticals Inc Coral Gables FL Dec15          (20)          (16)          (12)            (4)            (6)            (4)            (7)          (11)            (4)
TransAct Technologies Inc Hamden CT Dec 15              3            (2)              5              4              5              4              2              1            (2)
LRAD Corp San Diego CA Sep15            10              3              1              1              5              3            (1)            (6)            (6)
Aptevo Therapeutics Seattle WA Dec 15          (59)          (51)          (53)





Bank of the James Financial Group Lynchburg VA Dec 15              4              3              3              2              1              2            (1)              0              2
CPI Aerostructures Edgewood NY Dec 15              5          (25)              8            11              7              1              4              3              2
EuroSite Power Inc Waltham MA Dec 15            (1)            (2)            (2)            (2)            (1)            (0)


Health Insurance Innovations Tampa FL Dec 15              1              0            (8)              3              2



Rexahn Pharmaceuticals Rockville MD Dec 15          (14)          (19)            (9)            (6)          (11)          (14)            (3)            (4)            (4)
Sunesis Pharmaceuticals South San Francisco CA Dec 15          (37)          (43)          (35)          (44)          (20)          (25)          (40)          (37)          (39)
First Marblehead Corp Medford MA Jun15          (43)          (40)          (51)          (33)          (81)        (174)        (393)        (392)          371
Rocky Mountain Chocolate Factory Durango CO Feb16              4              4              4              1              4              4


Intergroup Los Angeles CA Jun15              2            (7)              1            (2)              8            (5)              0            (4)
Akoustis Technologies Huntersville NC Mar16            (4)            (0)






Magyar Bancorp New Brunswick NJ Sep15              1              1              0              1            (0)              4            (6)            (3)
Adamis Pharmaceuticals San Diego CA Dec 15          (14)          (11)            (7)            (5)            (7)            (7)            (6)            (2)            (2)
SB Financial Group Defiance OH Dec 15              8              5              5              5              2          (16)              0              5              3
Wolverine Bancorp Midland TX Dec 15              3              3              2              2              1            (4)              0

Full Circle Capital Greenwich CT Jun15            (5)            (8)              4              3              3



Avinger Inc Redwood City CA Dec 15          (47)          (32)          (40)          (34)




Clearsign Combustion Corp Seattle WA Dec 15            (8)            (7)            (5)            (4)            (3)



Connecture Inc Brookfield WI Dec 15            (7)          (10)          (26)          (17)




CytRx Corporation Los Angeles CA Dec15          (59)          (30)          (47)          (18)          (14)              0            (5)          (28)          (22)
Diversicare Healthcare Services Brentwood TN Dec 15              3              1            (7)            (4)              0              4              2              5              9
MFRI Inc Niles IL Jan16              2              4            13          (21)            (5)              4              5              7            (0)
Northwest Biotherapeutics Inc Bethesda MD Dec15        (115)        (136)          (66)          (67)          (33)          (27)          (27)          (22)          (21)
Ocera Therapeutics Palo Alto CA Dec 15          (27)          (25)          (15)            (4)            (5)



Vericel Corp Cambridge MA Dec 15          (16)          (20)          (16)          (29)          (20)          (15)          (16)          (16)          (16)
Zion Oil & Gas Inc Dallas TX Dec 15            (7)            (7)            (9)          (10)          (52)          (28)            (4)            (4)          (13)
Avant Diagnostics Scottsdale AZ Sep 15            (3)            (1)        




MEI Pharma San Diego CA Jun15          (33)          (27)          (11)            (8)            (7)            (8)          (11)          (12)          (14)
Cantabio Pharmaceuticals Palo Alto CA Mar16            (1)              0






Threshold Pharmaceuticals South San Francisco CA Dec 15          (44)          (22)          (28)          (71)          (26)          (19)          (24)          (18)          (31)
Hemispherx BioPharma Philadelphia PA Dec 15          (15)          (17)          (16)          (17)            (9)          (13)            (7)          (12)          (18)
Bay Bancorp Columbia MD Dec 15              2              3              3              0              1            (1)            (0)              1              2
Fauquier Bankshares Warrenton VA Dec 15            (1)              5              4              2              4              4              3              4              5
Great Elm Capital Group Los Altos CA Jun15          (42)              0          (40)            (8)            (8)          (12)          (24)            (7)    
Stone Energy Corp Lafayette LA Dec15     (1,091)        (190)          118          149          194            96        (218)     (1,147)          181
UTG Inc Springfield IL Dec 15              1            10              4            10              7              8            (4)              1              2
Aldeyra Therapeutics Lexington MA Dec 15          (12)            (5)            13





LaPolla Industries Houston TX Dec 15            (1)            (4)            (2)            (4)              4              2            (3)            (4)            (5)
Midwest Energy Emissions Lewis Center OH Dec 15          (14)            (5)            (5)            (4)            (9)            (0)


CorMedix Bedminster NJ Dec 15          (18)          (20)            (9)            (3)            (7)          (11)            (8)            (9)            (7)
Peoples Financial Corp Biloxi MS Dec 15            (5)          (10)            (1)              3              1              1              3              5            11
United Bancorp Inc Martins Ferry OH Dec 15              3              3              3              2              3              3              3              4              3
Citizens Community Bancorp Eau Claire WI Sep15              3              2              1              0              0            (7)            (3)              1              1
Uni-Pixel Santa Clara CA Dec 15          (33)          (22)          (15)            (9)            (9)            (4)            (5)          (11)          (11)
IEC Electronics Newark NY Sep15            (4)          (15)          (10)              7              7              5              5            10              1
Adesto Technologies Sunnyvale CA Dec 15            (8)            (9)            (8)





Perceptron Plymouth MI Jun15            (0)              2              6              3              3            (1)            (4)              1              1
CafePress San Mateo CA Dec 15            (6)          (15)          (16)            (1)              5              3              3            (2)
Pemix Therapeutics Holdings Morristown NJ Dec 15        (148)          (35)          (26)            (1)              8              9


TapImmune Inc Seattle WA Dec 15          (34)          (31)            (6)            (6)            (2)            (4)            (5)            (2)            (4)
United Security Bancshares Inc Thomasville AL Dec 15              3              4              4              2            (9)            (3)              5              5              0
Stanley Furniture High Point NC Dec 15              5            (8)          (13)            30            (5)          (44)          (12)              4              6
National American University Holdings Rapid City SD May16            (5)              7              3              5              5            10            10              3            (0)
CVD Equipment Corp Ronkonkoma NY Dec 15              3            (2)            (1)              0              4              1              0              1              1
DCB Financial Corp Lewis Center OH Dec 15            12              0            (3)              1            (3)          (12)            (4)              0              0
Eagle Bancorp Montana Helena MT Dec 15              3              2              2              2              2              2              2

Emclaire Financial Corp Emlenton PA Dec 15              4              4              4              4              4              3              3              2              3
ID Global Solutions Longwood FL Dec 15            (1)            (1)            (1)              0            (1)



Patriot National Bancorp Stamford CT Dec 15              2            16            (7)            (1)          (15)          (15)          (24)            (7)              3
Tonix Pharmaceuticals Holding Corp New York NY Dec15          (48)          (28)          (11)            (9)            (3)            (2)


Trxade Group Inc Odessa FL Dec 15            (1)            (2)            (2)            (0)




WidePoint Corp McLean VA Dec 15            (5)            (8)            (2)            (1)              0              6              1            (1)            (1)
CafePress San Mateo CA Dec 15            (6)          (15)          (16)            (1)              5              3              3            (2)
FXCM Inc New York NY Dec 15        (815)            16            11            23            58          100            87          120            23
Ideal Power Inc Austin TX Dec 15          (10)            (7)          (10)            (5)




Imprimis Pharmaceuticals San Diego CA Dec 15          (16)          (10)            (7)            (5)            (1)            (3)            (5)            (3)            (4)
ITT Educational Services Carmel IN Dec 15            23            23          (27)          139          309          374          300          202          152
National Security Group Elba AL Dec 15              5              8              6            (7)            (5)              3              4            (5)              6
Support.com Inc Redwood CA Dec 15          (27)            (4)            10            (6)          (18)          (18)          (22)          (32)          (21)
Aoxing Pharmaceuticals Foster City CA Jun15              6            (9)          (17)          (16)            (5)            (1)            (3)              4
Pioneer Power Solutions Fort Lee NJ Dec 15            (6)            (0)              5              3              2              3              5              2
WidePoint McLean VA Dec 15            (5)            (8)            (2)              1              0              6              1            (1)            (1)
Aviragen Therapeutics Alpharetta GA Jun15          (19)          (11)            (9)          (19)          (25)            12


Citius Pharmaceuticals Cranford NJ Sep15            (3)            (1)






American Greetings Corp Cleveland OH Feb16          130            65            51            50            57            87            82        (228)            83
Adesto Technologies Corp Sunnyvale CA Dec 15            (8)            (9)            (8)





Ampio Pharmaceuticals Inc Englewood CO Dec15          (34)          (39)          (25)          (12)          (18)            (8)            (2)        
Evolving Systems Englewood CO Dec 15              3              6              4              6            (1)              0              0            (0)            (1)
Porter Bancorp Louisville KY Dec 15            (3)          (11)            (2)          (33)        (107)            (4)            11            14            14
Verastem Needham MA Dec 15          (58)          (53)          (41)          (32)          (14)            (1)


BioLargo Santa Ana CA Dec 15            (5)            (4)            (3)            (5)            (4)            (6)          (16)            (7)            (5)
Wellesley Bancorp Inc Wellesley MA Dec 15              3              2              2              1              2              2              1              1              1













Total all 397


    (7,687)     (2,710)     (2,305)     (1,529)        (673)        (743)     (1,904)     (3,469)          597
Annual Earnings % Change vs Prior Year

-184% -18% -51% -127% 9% 61% 45% -681%

Next up are the more than 1,000 US Companies with stock market caps below $50 Mil.  This one will take a while for me to get a good handle on the relevant ones to include.  There are some US Companies in this smallest group which unfortunately experienced massive losses in the most recent year 2015.