Open Letter to the Chairman of FX Energy

The following letter was delivered to the Chairman of the Board of Directors of FX Energy on Thursday, June 27th, 2013. If you wish to join the mailing list of the Ad-Hoc Committee of FX Energy Shareholders and participate in our ongoing discussions as to how best to effectuate positive growth in shareholder value, please email fxen@littlebear.us

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A New Day at FDA Leads The Way For Sarepta Therapeutics

Shareholders of Sarepta Therapeutics (Nsadaq: SRPT) could be excused for scratching their heads yesterday after the close when the common stock of the company traded down around 10% after what seemed to be positive news emanating from the FDA. In a highly anticipated press release, Sarepta announced the results of the company’s meeting with the FDA regarding the pathway to eventual approval for eteplirsen, a novel exon-skipping drug that shows tremendous promise in treating boys suffering from Duchenne’s Muscular Dystrophy (“DMD”).

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Why the Bookies Are Wrong on Sarepta Therapeutics

The options market proves the old adage that there is no such thing as a free lunch. Investors who dabble in special situations expect that the marketplace knows the basic outlines of your thesis, and prices risk accordingly. That’s not to say you can’t make money betting on outcomes, just that the firms on the other side taking your wager always make sure that the table pays odds commiserate with the gamble.

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Little Bear Investments LLC Participates in Genius Products, Inc. $7m Private Placement

Monday March 22, 2004 2:30 pm ET

NEW YORK, March 22 — Little Bear Investments LLC (“Little Bear”) announced today that it has participated in a $7 million private placement to purchase common stock and warrants of Genius Products, Inc. (“GNPI”). The financing was spearheaded by Sands Bros International Ltd, (“Sands”) a registered NASD broker-dealer.

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Little Bear Investments LLC Announces the Acquisition of LiveOnTheNet by Traffix, Inc.

Friday February 20, 2004, 10:50 am ET

NEW YORK, February 20, 2004 — Little Bear Investments LLC (“Little Bear”, or the “Firm”) announced today that one of its’ portfolio companies, LiveOnTheNet (“LOTN”), has signed an agreement to be acquired by Traffix, Inc. (“Traffix”, Nasdaq: TRFX). The consideration being paid by Traffix is over $1 million, with 80% in common stock of Traffix. For more information on the transaction please see the TRFX press release at http://biz.yahoo.com/bw/040219/195099_1.html.

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Little Bear Investments LLC Participates in GoAmerica, Inc. $14.5 Million Private Placement

Wednesday November 26, 2003, 12:45 pm ET

NEW YORK, November 17 — Little Bear Investments LLC (“Little Bear”) announced today that it has participated in a $14.5 million private placement commitment to purchase common stock and warrants of GoAmerica, Inc. (Nasdaq: “GOAM” ). As part of the transaction, Little Bear also participated in a $1m bridge loan to GOAM, which closed Friday December 19, 2003.

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” Concentration is my motto – first honesty, then industry, then concentration. ” Andrew Carnegie