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POTOMAC CAPITAL MANAGEMENT LLC
> FALC
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2008 | FALCONSTOR SOFTWARE INC | FALC | 234,863 | 234,863 | -234 | -234 | $0.00 |
| 09/30/2007 | FALCONSTOR SOFTWARE INC | FALC | 417,445 | 137,500 | -413 | -136 | $0.00 |
| 06/30/2007 | FALCONSTOR SOFTWARE INC | FALC | 279,945 | 15,992 | -277 | -15 | $0.00 |
| 03/31/2007 | FALCONSTOR SOFTWARE INC | FALC | 263,953 | 8,600 | -262 | -2,209,262 | $0.00 |
| 12/31/2006 | FALCONSTOR SOFTWARE INC | FALC | 255,353 | 69,922 | 2,209,000 | 783,000 | $8.65 |
| 09/30/2006 | FALCONSTOR SOFTWARE INC | FALC | 185,431 | 76,590 | 1,426,000 | 666,000 | $7.69 |
| 06/30/2006 | FALCONSTOR SOFTWARE INC | FALC | 108,841 | -43,791 | 760,000 | -682,000 | $6.98 |
| 03/31/2006 | FALCONSTOR SOFTWARE INC | FALC | 152,632 | 0 | 1,442,000 | 314,000 | $9.45 |
| 12/31/2005 | FALCONSTOR SOFTWARE INC | FALC | 152,632 | 28,500 | 1,128,000 | 376,000 | $7.39 |
| 09/30/2005 | FALCONSTOR SOFTWARE INC | FALC | 124,132 | -80,702 | 752,000 | -586,000 | $6.06 |
| 06/30/2005 | FALCONSTOR SOFTWARE INC | FALC | 204,834 | -40,000 | 1,338,000 | -124,000 | $6.53 |
| 03/31/2005 | FALCONSTOR SOFTWARE INC | FALC | 244,834 | 19,400 | 1,462,000 | -695,000 | $5.97 |
| 12/31/2004 | FALCONSTOR SOFTWARE INC | FALC | 225,434 | -145,000 | 2,157,000 | -603,000 | $9.57 |
| 09/30/2004 | FALCONSTOR SOFTWARE INC | FALC | 370,434 | 35,734 | 2,760,000 | 176,000 | $7.45 |
| 06/30/2004 | FALCONSTOR SOFTWARE INC | FALC | 334,700 | 20,500 | 2,584,000 | 243,000 | $7.72 |
| 03/31/2004 | FALCONSTOR SOFTWARE INC | FALC | 314,200 | -10,000 | 2,341,000 | -493,000 | $7.45 |
| 12/31/2003 | FALCONSTOR SOFTWARE INC | FALC | 324,200 | 324,200 | 2,834,000 | 2,834,000 | $8.74 |
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