# EDGAR Filing Document

**Accession Number:** 0001418746
**File Stem:** 0001418746-23-000002
**Filing Date:** 2023-2
**Character Count:** 10073
**Document Hash:** 2b5087d66df0658bf2595d9ce785a8d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001418746-23-000002.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001418746-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Potomac Capital Management, Inc.
- **CENTRAL INDEX KEY:** 0001418746
- **IRS NUMBER:** 133984786
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12962
- **FILM NUMBER:** 23628149

**BUSINESS ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171
- **BUSINESS PHONE:** 212-257-6083

**MAIL ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Potomac Capital Management Inc.<br>**Address:** 299 PARK AVENUE<br>21ST FLOOR<br>NEW YORK, NY 10171

**Form 13F File Number:** 028-12962

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** P.J. Solit<br>**Title:** President<br>**Phone:** 212-257-6082

**Signature, Place, and Date of Signing:**

/s/ P.J. Solit  New York, NY  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 65

**Form 13F Information Table Value Total:** $85761

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABSOLUTE SOFTWARE CORP | COM | 00386B109 |  | 1564 | 149804 | SH |  | SOLE |  | 139804 | 0 | 0 |
| ADMA BIOLOGICS INC | COM | 000899104 |  | 466 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| ALLOT LTD | SHS | M0854Q105 |  | 1772 | 515000 | SH |  | SOLE |  | 515000 | 0 | 0 |
| ALLOT LTD | SHS | M0854Q105 |  | 34 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 300 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| ASPEN AEROGELS INC | COM | 04523Y105 |  | 1238 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| ATHIRA PHARMA INC | COM | 04746L104 |  | 254 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| BABCOCK  WILCOX ENTERPRISES | COM | 05614L209 |  | 3084 | 534537 | SH |  | SOLE |  | 534537 | 0 | 0 |
| BABCOCK  WILCOX ENTERPRISES | COM | 05614L209 |  | 289 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| BABCOCK  WILCOX ENTERPRISES | COM | 05614L209 |  | 289 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 897 | 27080 | SH |  | SOLE |  | 27080 | 0 | 0 |
| BLUEGREEN VACATIONS HLDG COR | CLASS A | 096308101 |  | 1428 | 57200 | SH |  | SOLE |  | 57200 | 0 | 0 |
| CHICKEN SOUP FOR THE SOUL EN | CL A | 16842Q100 |  | 154 | 30000 | SH | Call | SOLE |  | 30000 | 0 | 0 |
| CHICKEN SOUP FOR THE SOUL EN | CL A | 16842Q100 |  | 912 | 178200 | SH |  | SOLE |  | 178200 | 0 | 0 |
| CLARUS CORP NEW | COM | 18270P109 |  | 946 | 120600 | SH |  | SOLE |  | 120600 | 0 | 0 |
| COMPOSECURE INC | COM CL A | 20459V105 |  | 832 | 169525 | SH |  | SOLE |  | 169525 | 0 | 0 |
| COMPOSECURE INC | *W EXP 12/27/202 | 20459V113 |  | 1458 | 297000 | SH |  | SOLE |  | 297000 | 0 | 0 |
| CONDUENT INC | COM | 206787103 |  | 814 | 201000 | SH |  | SOLE |  | 201000 | 0 | 0 |
| CONX CORP | *W EXP 10/30/202 | 212873111 |  | 6474 | 650000 | SH |  | SOLE |  | 650000 | 0 | 0 |
| DISH NETWORK CORPORATION | CL A | 25470M109 |  | 1769 | 126000 | SH |  | SOLE |  | 126000 | 0 | 0 |
| DISH NETWORK CORPORATION | CL A | 25470M109 |  | 211 | 15000 | SH | Call | SOLE |  | 15000 | 0 | 0 |
| DISH NETWORK CORPORATION | CL A | 25470M109 |  | 281 | 20000 | SH | Call | SOLE |  | 20000 | 0 | 0 |
| DISH NETWORK CORPORATION | CL A | 25470M109 |  | 140 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| DISH NETWORK CORPORATION | CL A | 25470M109 |  | 351 | 25000 | SH | Call | SOLE |  | 25000 | 0 | 0 |
| DIVERSIFIED HEALTHCARE TR | COM SH BEN INT | 25525P107 |  | 65 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| DIVERSIFIED HEALTHCARE TR | COM SH BEN INT | 25525P107 |  | 1197 | 1850000 | SH |  | SOLE |  | 1850000 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 |  | 3661 | 219500 | SH |  | SOLE |  | 219500 | 0 | 0 |
| ENZO BIOCHEM INC | COM | 294100102 |  | 814 | 569000 | SH |  | SOLE |  | 569000 | 0 | 0 |
| EVOLUS INC | COM | 30052C107 |  | 1247 | 166100 | SH |  | SOLE |  | 166100 | 0 | 0 |
| FATHOM HOLDINGS INC | COM | 31189V109 |  | 128 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| FIVE POINT HOLDINGS LLC | COM CL A | 33833Q106 |  | 280 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 698 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 716 | 20000 | SH | Call | SOLE |  | 20000 | 0 | 0 |
| INFORMATION SVCS GROUP INC | COM | 45675Y104 |  | 782 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| INSPIRED ENTMT INC | COM | 45782N108 |  | 6687 | 527790 | SH |  | SOLE |  | 527790 | 0 | 0 |
| INTEVAC INC | COM | 461148108 |  | 896 | 138532 | SH |  | SOLE |  | 138532 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 2615 | 15000 | SH | Call | SOLE |  | 15000 | 0 | 0 |
| ITURAN LOCATION AND CONTROL | SHS | M6158M104 |  | 228 | 10800 | SH |  | SOLE |  | 10800 | 0 | 0 |
| KVH INDS INC | COM | 482738101 |  | 6975 | 682500 | SH |  | SOLE |  | 682500 | 0 | 0 |
| LANTRONIX INC | COM NEW | 516548203 |  | 380 | 88010 | SH |  | SOLE |  | 88010 | 0 | 0 |
| LESAKA TECHNOLOGIES INC | COM NEW | 64107N206 |  | 8028 | 1764430 | SH |  | SOLE |  | 1764430 | 0 | 0 |
| LIONS GATE ENTMNT CORP | CL A VTG | 535919401 |  | 974 | 170500 | SH |  | SOLE |  | 170500 | 0 | 0 |
| THE ONE GROUP HOSPITALITY IN | COM | 88338K103 |  | 654 | 103800 | SH |  | SOLE |  | 103800 | 0 | 0 |
| ORION ENGINEERED CARBONS S A | COM | L72967109 |  | 807 | 45300 | SH |  | SOLE |  | 45300 | 0 | 0 |
| PERMA-FIX ENVIRONMENTAL SVCS | COM NEW | 714157203 |  | 850 | 240680 | SH |  | SOLE |  | 240680 | 0 | 0 |
| POWERFLEET INC | COM | 73931J109 |  | 457 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| POWERSCHOOL HOLDINGS INC | COM CL A | 73939C106 |  | 563 | 24400 | SH |  | SOLE |  | 24400 | 0 | 0 |
| PURE CYCLE CORP | COM NEW | 746228303 |  | 526 | 50200 | SH |  | SOLE |  | 50200 | 0 | 0 |
| RCI HOSPITALITY HLDGS INC | COM | 74934Q108 |  | 382 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| SEQUANS COMMUNICATIONS S A | SPONSORED ADS | 817323207 |  | 2752 | 829000 | SH |  | SOLE |  | 829000 | 0 | 0 |
| SERVICE PPTYS TR | COM SH BEN INT | 81761L102 |  | 919 | 126100 | SH |  | SOLE |  | 126100 | 0 | 0 |
| SHOE CARNIVAL INC | COM | 824889109 |  | 1155 | 48300 | SH |  | SOLE |  | 48300 | 0 | 0 |
| DIREXION SHS ETF TR | DLY SMCAP BULL3X | 25459W847 |  | 412 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| SPARK NETWORKS SE | SPONSORED ADS | 846517100 |  | 167 | 257639 | SH |  | SOLE |  | 257639 | 0 | 0 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 1029 | 12400 | SH |  | SOLE |  | 12400 | 0 | 0 |
| TILE SHOP HLDGS INC | COM | 88677Q109 |  | 870 | 198609 | SH |  | SOLE |  | 198609 | 0 | 0 |
| TOPGOLF CALLAWAY BRANDS CORP | COM | 131193104 |  | 517 | 26200 | SH |  | SOLE |  | 26200 | 0 | 0 |
| TRANSACT TECHNOLOGIES INC | COM | 892918103 |  | 127 | 20100 | SH |  | SOLE |  | 20100 | 0 | 0 |
| TRAVELCENTERS OF AMERICA INC | COM NEW | 89421B109 |  | 6769 | 151152 | SH |  | SOLE |  | 151152 | 0 | 0 |
| TRAVELCENTERS OF AMERICA INC | COM NEW | 89421B109 |  | 358 | 8000 | SH | Call | SOLE |  | 8000 | 0 | 0 |
| TRAVELCENTERS OF AMERICA INC | COM NEW | 89421B109 |  | 224 | 5000 | SH | Call | SOLE |  | 5000 | 0 | 0 |
| VERTEX ENERGY INC | COM | 92534K107 |  | 725 | 117000 | SH |  | SOLE |  | 117000 | 0 | 0 |
| VIANT TECHNOLOGY INC | COM CL A | 92557A101 |  | 1162 | 289122 | SH |  | SOLE |  | 289122 | 0 | 0 |
| XCEL BRANDS INC | COM NEW | 98400M101 |  | 469 | 669493 | SH |  | SOLE |  | 669493 | 0 | 0 |
| YATRA ONLINE INC | ORD SHS | G98338109 |  | 1539 | 638787 | SH |  | SOLE |  | 638787 | 0 | 0 |

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