<SEC-DOCUMENT>0001477932-19-003683.txt : 20190625
<SEC-HEADER>0001477932-19-003683.hdr.sgml : 20190625
<ACCEPTANCE-DATETIME>20190624182619
ACCESSION NUMBER:		0001477932-19-003683
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190625
DATE AS OF CHANGE:		20190624
GROUP MEMBERS:		ACCRETIVE CAPITAL ASIA, LLC
GROUP MEMBERS:		ACCRETIVE CAPITAL MANAGEMENT, LLC
GROUP MEMBERS:		ACCRETIVE CAPITAL PARTNERS, LLC
GROUP MEMBERS:		RICHARD E. FEARON, JR.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LSI INDUSTRIES INC
		CENTRAL INDEX KEY:			0000763532
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC LIGHTING & WIRING EQUIPMENT [3640]
		IRS NUMBER:				310888951
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-36715
		FILM NUMBER:		19916404

	BUSINESS ADDRESS:	
		STREET 1:		10000 ALLIANCE RD
		STREET 2:		P O BOX 42728
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45242
		BUSINESS PHONE:		5135796411

	MAIL ADDRESS:	
		STREET 1:		10000 ALLIANCE RD
		STREET 2:		P O BOX 42728
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45242

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LSI LIGHTING SYSTEMS INC
		DATE OF NAME CHANGE:	19891121

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACCRETIVE CAPITAL PARTNERS, LLC
		CENTRAL INDEX KEY:			0001118118
		IRS NUMBER:				364361768
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		85A WALL STREET
		CITY:			MADISON
		STATE:			CT
		ZIP:			06443
		BUSINESS PHONE:		203-482-5805

	MAIL ADDRESS:	
		STREET 1:		C/O ACCRETIVE CAPITAL MANAGEMENT, LLC
		STREET 2:		63 LIBERTY STREET
		CITY:			MADISON
		STATE:			CT
		ZIP:			06443

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCRETIVE CAPITAL PARTNERS LLC
		DATE OF NAME CHANGE:	20000705
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>lyts_sc13d.htm
<DESCRIPTION>SC 13D
<TEXT>
<html><head><title>lyts_sc13d.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="center"><table style="FONT-SIZE: 1px" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td><div style="HEIGHT: 4px; WIDTH: 100%; BACKGROUND: #000000; MARGIN: 0px 0px 2px" name="hrule"></div><div style="HEIGHT: 2px; WIDTH: 100%; BACKGROUND: #000000" name="hrule"></div></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><font size="3"><b>SECURITIES AND EXCHANGE COMMISSION</b></font></p><p style="MARGIN: 0px" align="center"><font size="3"><b>WASHINGTON, DC 20549</b></font></p><p style="MARGIN: 0px" align="center">______________</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="center"><b><font size="5">SCHEDULE 13D</font></b></p><p style="MARGIN: 0px" align="center"><b>(Rule 13d-101)</b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT</b></p><p style="MARGIN: 0px" align="center"><b>TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO</b></p><p style="MARGIN: 0px" align="center"><b>RULE 13d-2(a)</b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><u><b><font size="5">LSI Industries Inc.</font></b></u></p><p style="MARGIN: 0px" align="center">(Name of Issuer)</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="center"><u><b>Common Stock </b></u></p><p style="MARGIN: 0px" align="center">(Title of Class of Securities)</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><u><b>50216C108</b></u></p><p style="MARGIN: 0px" align="center">(CUSIP Number)</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">ACCRETIVE CAPITAL MANAGEMENT, LLC</p><p style="MARGIN: 0px" align="center">85 Wall Street</p><p style="MARGIN: 0px" align="center">Madison, CT 06443</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">ACCRETIVE CAPITAL PARTNERS, LLC</p><p style="MARGIN: 0px" align="center">85 Wall Street</p><p style="MARGIN: 0px" align="center">Madison, CT 06443</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">ACCRETIVE CAPITAL ASIA, LLC</p><p style="MARGIN: 0px" align="center">85 Wall Street</p><p style="MARGIN: 0px" align="center">Madison, CT 06443</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">RICHARD E. FEARON, JR.</p><p style="MARGIN: 0px" align="center">85 Wall Street</p><p style="MARGIN: 0px" align="center">Madison, CT 06443 </p><p style="MARGIN: 0px" align="center">(203) 482-5805</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">(Name, Address and Telephone Number of Person</p><p style="MARGIN: 0px" align="center">Authorized to Receive Notices and Communications)</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><u><b>June 21, 2019</b></u></p><p style="MARGIN: 0px" align="center">(Date of Event Which Requires Filing of This Statement)</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box <font style="FONT-FAMILY: Wingdings">x</font>.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><i>Note.</i> Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. <i>See</i> Rule 13d-7 for other parties to whom copies are to be sent.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center">(Continued on following pages)</p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><table style="FONT-SIZE: 1px" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td><div style="HEIGHT: 2px; WIDTH: 100%; BACKGROUND: #000000; MARGIN: 0px 0px 2px" name="hrule"></div><div style="HEIGHT: 4px; WIDTH: 100%; BACKGROUND: #000000" name="hrule"></div></td></tr></table></p><p style="MARGIN: 0px"><table class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp; </td></tr><tr><td></td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp; </td></tr></table></p><p style="MARGIN: 0px">&nbsp; &nbsp;</p><p style="MARGIN: 0px"><table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">1</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">NAME OF REPORTING PERSONS</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">Accretive Capital Management, LLC</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">2</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</p><p style="MARGIN: 0px">(a) <font style="FONT-FAMILY: Wingdings">o </font></p><p style="MARGIN: 0px">(b) <font style="FONT-FAMILY: Wingdings">x</font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">3</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SEC USE ONLY</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">4</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SOURCE OF FUNDS</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">WC</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">5</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o</font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">6</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CITIZENSHIP OR PLACE OF ORGANIZATION</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">ILLINOIS, USA</p></td></tr></table></p>&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="middle" rowspan="4" width="12%"><p style="MARGIN: 0px" align="center">NUMBER OF</p><p style="MARGIN: 0px" align="center">SHARES</p><p style="MARGIN: 0px" align="center">BENEFICIALLY</p><p style="MARGIN: 0px" align="center">OWNED BY EACH</p><p style="MARGIN: 0px" align="center">REPORTING</p><p style="MARGIN: 0px" align="center">PERSON WITH</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">7</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">-0-</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">8</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; &nbsp;</p><p style="MARGIN: 0px">1,466,578 Shares<sup>1</sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">9</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">-0-</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">10</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,466,578 Shares<sup>1</sup></p></td></tr></table>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">11</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,466,578 Shares<sup>1</sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">12</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">13</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">5.65 %</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">14</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">TYPE OF REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">OO</p></td></tr></table><p style="MARGIN: 0px">_____________</p><p style="MARGIN: 0px"><sup>1 </sup>Includes 1,434,905 shares held directly by Accretive Capital Partners, LLC and 31,673 shares held directly by Accretive Capital Asia, LLC, of which Accretive Capital Management, LLC is the manager.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table id="pagebreak945fdc33-b270-45a4-b0ae-b6c26215463a" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">2</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px"><table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">1</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">NAME OF REPORTING PERSONS</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">Accretive Capital Partners, LLC</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">2</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</p><p style="MARGIN: 0px">(a) <font style="FONT-FAMILY: Wingdings">o </font></p><p style="MARGIN: 0px">(b) <font style="FONT-FAMILY: Wingdings">x</font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">3</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SEC USE ONLY</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">4</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SOURCE OF FUNDS</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">AF</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">5</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) </p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">6</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CITIZENSHIP OR PLACE OF ORGANIZATION</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">ILLINOIS, USA</p></td></tr></table></p>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="middle" rowspan="4" width="12%"><p style="MARGIN: 0px" align="center">NUMBER OF</p><p style="MARGIN: 0px" align="center">SHARES</p><p style="MARGIN: 0px" align="center">BENEFICIALLY</p><p style="MARGIN: 0px" align="center">OWNED BY</p><p style="MARGIN: 0px" align="center">EACH REPORTING</p><p style="MARGIN: 0px" align="center">PERSON WITH</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">7</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">- 0 -</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">8</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,434,905 Shares</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">9</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">- 0 -</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">10</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,434,905 Shares</p></td></tr></table>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">11</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,434,905 Shares</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">12</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">13</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">5.53%</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">14</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">TYPE OF REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">OO</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table id="pagebreak6dd8a013-9e25-4237-8dd8-574612581b8f" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">3</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">1</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">NAME OF REPORTING PERSONS</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">Accretive Capital Asia, LLC</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">2</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</p><p style="MARGIN: 0px">(a) <font style="FONT-FAMILY: Wingdings">o </font></p><p style="MARGIN: 0px">(b) <font style="FONT-FAMILY: Wingdings">x</font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">3</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SEC USE ONLY</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">&nbsp; </p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">4</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SOURCE OF FUNDS</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">AF</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">5</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">6</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CITIZENSHIP OR PLACE OF ORGANIZATION</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">DELAWARE, USA</p></td></tr></table></p>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="middle" rowspan="4" width="12%"><p style="MARGIN: 0px" align="center">NUMBER OF</p><p style="MARGIN: 0px" align="center">SHARES</p><p style="MARGIN: 0px" align="center">BENEFICIALLY</p><p style="MARGIN: 0px" align="center">OWNED BY EACH</p><p style="MARGIN: 0px" align="center">REPORTING</p><p style="MARGIN: 0px" align="center">PERSON WITH</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">7</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">- 0 -</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">8</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED VOTING POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">31,673 Shares</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">9</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">- 0 -</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">10</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">31,673 Shares</p></td></tr></table>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">11</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">31,673 Shares</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">12</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES </p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">13</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">0.12%</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">14</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">TYPE OF REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">OO</p></td></tr></table><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px"><table id="pagebreakdd97fdd5-2d55-49d1-be9c-b74b64a3a75b" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">4</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px"><table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">1</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">NAME OF REPORTING PERSONS</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">Richard E. Fearon, Jr.</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">2</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</p><p style="MARGIN: 0px">(a) <font style="FONT-FAMILY: Wingdings">o </font></p><p style="MARGIN: 0px">(b) <font style="FONT-FAMILY: Wingdings">x</font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">3</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SEC USE ONLY</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">4</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">SOURCE OF FUNDS</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">PF</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">5</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) </p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">6</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CITIZENSHIP OR PLACE OF ORGANIZATION</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">United States</p></td></tr></table></p>&nbsp;&nbsp; <table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="middle" rowspan="4" width="12%"><p style="MARGIN: 0px" align="center">NUMBER OF</p><p style="MARGIN: 0px" align="center">SHARES BENEFICIALLY</p><p style="MARGIN: 0px" align="center">OWNED BY</p><p style="MARGIN: 0px" align="center">EACH REPORTING </p><p style="MARGIN: 0px" align="center">PERSON WITH</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">7</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE VOTING POWER</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">1,597,329<sup>2</sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">8</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED VOTING POWER</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">-0-</p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">9</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SOLE DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">1,597,329<sup>2</sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">10</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px">SHARED DISPOSITIVE POWER</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">-0-</p></td></tr></table><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px"><table style="BORDER-RIGHT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="2" width="100%" align="center" border="0"><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" width="8%"><p style="MARGIN: 0px" align="center">11</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">1,597,329<sup>2</sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">12</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px"><font style="FONT-FAMILY: Wingdings">o </font></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">13</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">6.16%<sup></sup></p></td></tr><tr><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top"><p style="MARGIN: 0px" align="center">14</p></td><td style="BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid" valign="top" colspan="2"><p style="MARGIN: 0px">TYPE OF REPORTING PERSON</p><p style="MARGIN: 0px">&nbsp;&nbsp; </p><p style="MARGIN: 0px">IN</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">___________</p><p style="MARGIN: 0px"><sup>2</sup> Includes 1,434,905 shares held directly by Accretive Capital Partners, LLC and 31,673 shares held directly by Accretive Capital Asia, LLC, of which Accretive Capital Management, LLC is the manager, and Mr. Fearon is the managing member of Accretive Capital Management, LLC.</p><p style="MARGIN: 0px">&nbsp; <table id="pagebreak654a07d1-d350-4477-9583-4bd4b23a5bd2" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">5</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">The following constitutes the Schedule 13D filed by the undersigned (the &#8220;Schedule 13D&#8221;).</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">Item 1. <u>Security and Issuer.</u></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">This statement relates to the Common Stock (the &#8220;Shares&#8221;) of LSI Industries Inc., an Ohio corporation (the &#8220;Issuer&#8221;). The address of the principal executive offices of the Issuer is 10000 Alliance Road, Cincinnati, Ohio 45242. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify">Item 2. <u>Identity and Background.</u></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(a)</td><td valign="top">This statement is filed by:</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="6%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(i)</td><td valign="top">Accretive Capital Partners, LLC, an Illinois limited liability company (&#8220;ACM&#8221;), as the managing member of ACP and ACA, with respect to the Shares beneficially owned by it;</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top">(ii)</td><td valign="top">Accretive Capital Asia, LLC, an Delaware limited liability company (&#8220;ACA&#8221;), with respect to the Shares beneficially owned by it;</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top">(iii)</td><td valign="top">Accretive Capital Management, LLC, an Illinois limited liability company (&#8220;ACM&#8221;), as the managing member of ACP and ACA, with respect to the Shares beneficially owned by it; and</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top">(iv)</td><td valign="top">Richard E. Fearon, Jr., individually and as the managing member of ACM.</td></tr></tr></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">Each of the foregoing is referred to as a &#8220;Reporting Person&#8221; and collectively as the &#8220;Reporting Persons.&#8221; Attached as Exhibit 1 hereto is a Joint Filing Agreement executed by the Reporting Persons.</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">(b) The address of the principal office of each Reporting Person is c/o Accretive Capital Management, LLC, 85 Wall Street, Madison, Connecticut 06443.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">(c) The principal business of ACP and ACA is serving as a private investment fund. The principal business of ACM is serving as the managing member of ACP and ACA. The principal business of Mr. Fearon is serving as the managing member of ACM. </p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">(d) No Reporting Person, has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">(e) No Reporting Person, has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">(f) Mr. Fearon is a United States citizen.</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">Item 3. <u>Source and Amount of Funds or Other Consideration</u>.</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The Shares purchased by ACP were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 1,434,905 Shares owned beneficially by ACP is approximately $6,787,644, including brokerage commissions. </p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The Shares purchased by ACA were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 31,673 Shares owned beneficially by ACA is approximately $140,000, including brokerage commissions. </p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The Shares purchased by Mr. Fearon were purchased with personal funds in open market purchases. The aggregate purchase price of the 130,751 Shares owned directly by Mr. Fearon is approximately $639,300, including brokerage commissions.</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">Item 4. <u>Purpose of Transaction. </u></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The Reporting Persons purchased the Shares based on the Reporting Persons&#8217; belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) &#8211; (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein:</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer&#8217;s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, continuing to engage in communications with management and the Board, making recommendations or proposals to the Issuer concerning changes to the capitalization, corporate structure, ownership structure, board structure (including board composition) or operations of the Issuer, seeking to meet with members of senior management and/or members of the Board, communicating publicly or privately with other stockholders or third parties to indicate their views on issues relating to the strategic direction undertaken by the Issuer and other matters of interest to stockholders generally, purchasing additional Shares, selling some or all of their Shares, engaging in hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including without limitation: changes in the composition of the Issuer&#8217;s board of directors or management, engaging in proxy contests, changes to the Issuer&#8217;s certificate of incorporation or bylaws, initiating a tender offer to gain control of the Issuer, restructuring the Issuer&#8217;s capitalization or dividend policy, the acquisition or disposition of additional securities of the Issuer and the sale of material assets or another extraordinary corporate transaction, including a sale transaction.</p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px"><table id="pagebreak8ffddb22-4770-465f-a364-030ce79a1377" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">6</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Item 5. <u>Interest in Securities of the Issuer.</u></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">The aggregate percentage of Shares reported owned by each person named herein is based upon 25,937,670 Shares outstanding, as of April 30, 2019, which is the total number of Shares outstanding cited in the Issuer&#8217;s Form 10-Q filed with the Securities and Exchange Commission for the quarter ended March 31, 2019.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">A. ACM:</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(a)</td><td valign="top">Amount beneficially owned: 1,466,578</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%"></td><td valign="top">Percentage: 5.65%</td></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(b)</td><td valign="top">1. Sole power to vote or direct vote: 0</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">2. Shared power to vote or direct vote: 1,466,578 </p><p style="MARGIN: 0px">3. Sole power to dispose or direct the disposition: 0</p><p style="MARGIN: 0px">4. Shared power to dispose or direct the disposition: 1,466,578</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(c)</td><td valign="top">The transactions in the Shares by the affiliates of ACM during the past sixty days are set forth in <u>Schedule A</u> and are incorporated herein by reference</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">B. ACP:</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(a)</td><td valign="top">Amount beneficially owned: 1,434,905</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%"></td><td valign="top">Percentage: 5.53%</td></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(b)</td><td valign="top"><p>1. Sole power to vote or direct vote: 0 </p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">2. Shared power to vote or direct vote: 1,434,905</p></td><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">3. Sole power to dispose or direct the disposition: 0</p><p style="MARGIN: 0px">4. Shared power to dispose or direct the disposition: 1,434,905</p></td></tr></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(c)</td><td valign="top">The transactions in the Shares by ACP and ACM during the past sixty days are set forth in <u>Schedule A</u> and are incorporated herein by reference</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">C. ACA:</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(a)</td><td valign="top">Amount beneficially owned: 31,675</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Percentage: 0.12%</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(b)</td><td valign="top">1. Sole power to vote or direct vote: 0</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">2. Shared power to vote or direct vote: 31,675 </p><p style="MARGIN: 0px">3. Sole power to dispose or direct the disposition: 0</p><p style="MARGIN: 0px">4. Shared power to dispose or direct the disposition: 31,675</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(c)</td><td valign="top">The transactions in the Shares by ACA during the past sixty days are set forth in <u>Schedule A</u> and are incorporated herein by reference</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">D. Mr. Fearon</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(a)</td><td valign="top">Amount beneficially owned: 1,597,329</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%"></td><td valign="top">Percentage: 6.16%</td></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(b)</td><td valign="top">1. Sole power to vote or direct vote: 1,597,329</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">2. Shared power to vote or direct vote: 0</p><p style="MARGIN: 0px">3. Sole power to dispose or direct the disposition 1,597,329</p><p style="MARGIN: 0px">4. Shared power to dispose or direct the disposition: 0</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(c)</td><td valign="top">The transactions in the Shares by Mr. Fearon during the past sixty days are set forth in <u>Schedule A</u> and are incorporated herein by reference</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%"></td><td valign="top">An aggregate of 1,597,329 Shares, constituting approximately 6.16 % of the Shares outstanding, are reported in this Schedule 13D.</td></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(d)</td><td valign="top">No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><tr><td valign="top" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="3%">(e)</td><td valign="top">Not applicable.</td></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Item 6. The principal business of ACP and ACA is serving as a private investment fund. The principal business of ACM is serving as the managing member of ACP and ACA. The principal business of Mr. Fearon is serving as the managing member of ACM.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Item 7. Not applicable.</p><p style="MARGIN: 0px">&nbsp; <table id="pagebreak136a7243-652f-4aed-911a-bbb9fcbdfcf9" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">7</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>SIGNATURES</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify">June 24, 2019</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px"><table style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td></td><td colspan="2">ACCRETIVE CAPITAL MANAGEMENT, LLC</td><td></td></tr><tr><td width="50%"></td><td width="5%">&nbsp; </td><td width="35%"></td><td width="10%"></td></tr><tr><td></td><td>By:</td><td style="BORDER-BOTTOM: black 1px solid"><em>/s/ Richard E. Fearon, Jr.</em></td><td></td></tr><tr><td></td><td><p style="MARGIN: 0px">Name: </p></td><td>Richard E. Fearon, Jr. </td><td></td></tr><tr><td></td><td>Title: </td><td>Managing Member</td><td></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">ACCRETIVE CAPITAL PARTNERS, LLC</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">By: Accretive Capital Management, LLC, its managing member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">By: </p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px"><em>/s/ Richard E. Fearon, Jr. </em></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Name: </p></td><td><p style="MARGIN: 0px">Richard E. Fearon, Jr. </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Title:</p></td><td><p style="MARGIN: 0px">Managing Member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">ACCRETIVE CAPITAL ASIA, LLC</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">By: Accretive Capital Management, LLC, its managing member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">By: </p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px"><em>/s/ Richard E. Fearon, Jr. </em></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Name:</p></td><td><p style="MARGIN: 0px">Richard E. Fearon, Jr. </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Title:</p></td><td><p style="MARGIN: 0px">Managing Member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">RICHARD E. FEARON, JR.</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px"><em>/s/ Richard E. Fearon, Jr.</em></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Name:</p></td><td><p style="MARGIN: 0px">Richard E. Fearon, Jr.</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table id="pagebreakb2410f0a-bb4b-4039-b800-ffaf24719156" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">8</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b><u>SCHEDULE A</u></b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><b><u>Transactions in the Shares During the Past Sixty Days</u></b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px" align="center"><b>Shares of Common Stock</b></p><p style="MARGIN: 0px" align="center"><b>Purchased/(Sold)</b></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px" align="center"><b>Price Per</b></p><p style="MARGIN: 0px" align="center"><b>Share($)</b></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px" align="center"><b>Date of</b></p><p style="MARGIN: 0px" align="center"><b>Purchase/(Sale)</b></p></td></tr><tr><td colspan="5"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td colspan="5"><p style="MARGIN: 0px" align="center"><b><u>ACCRETIVE CAPITAL PARTNERS, LLC</u></b></p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom" width="30%"><p style="MARGIN: 0px 0px 0px 0in" align="center">24,739</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="30%"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.43</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="30%"><p style="MARGIN: 0px 0px 0px 0in" align="center">4/24/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">1,600</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.23</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">4/26/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">12,671</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.37</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">4/29/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">8,416</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.40</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">4/30/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">9,600</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.44</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/1/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">496</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.47</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/2/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">290</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.47</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/3/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">18,403</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.40</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/6/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">1,155</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.47</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/8/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6,945</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.47</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/9/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">1,461</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.47</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/10/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">18,521</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.43</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/13/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">1,224</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.30</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/14/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">746</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.35</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/15/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">8,100</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.39</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/16/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">400</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.36</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/20/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">8,145</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.54</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/21/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">11,716</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.57</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/22/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">2,109</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.54</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/23/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6,900</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.55</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/24/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">1,530</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.53</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/29/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">7,200</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.58</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/30/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">85</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.57</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">5/31/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">8,515</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.55</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/3/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">12,725</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.58</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/4/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">80</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.68</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/7/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">2,780</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.64</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/13/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">8,241</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.63</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/17/2019</p></td></tr><tr height="15" bgcolor="#cceeff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">16,313</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.61</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/18/2019</p></td></tr><tr height="15" bgcolor="#ffffff"><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">14</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">3.60</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px 0px 0px 0in" align="center">6/24/2019</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td colspan="5"><p style="MARGIN: 0px" align="center"><b style="MARGIN: 0px"><u>RICHARD E. FEARON, JR. </u></b></p></td></tr><tr height="15"><td colspan="5"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15" bgcolor="#cceeff"><td><p style="MARGIN: 0px 0px 0px 0in" align="center">1</p></td><td><p align="center">&nbsp;</p></td><td><p style="MARGIN: 0px 0px 0px 0in" align="center">$3.50</p></td><td><p align="center">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">5/3/2019</p></td></tr></table></p>&nbsp;<b> <p style="MARGIN: 0px"><table id="pagebreake7514c1e-b2ee-4efd-8e9d-c0a4b66f04fe" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">9</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p></b><p style="MARGIN: 0px" align="center"><b>EXHIBIT I</b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>JOINT FILING AGREEMENT</b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">In accordance with Rule 13d-l(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned agree that only one statement containing the information required by Schedule 13D need be filed by each of the undersigned with respect to the ownership by each of the undersigned of shares of common stock, no par value per share, of LSI Industries Inc.</p><p style="MARGIN: 0px">&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr height="15"><td valign="top" width="40%"><p style="MARGIN: 0px"><u>6/24/2019 </u></p><p style="MARGIN: 0px">Date</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Accretive Capital Management, LLC</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">By: <u><em>/s/ Richard E. Fearon</em></u><u><em>, Jr.</em> </u></p><p style="MARGIN: 0px">Name: Richard E. Fearon, Jr.</p><p style="MARGIN: 0px">Title: Managing Member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="40%"><p style="MARGIN: 0px"><u>6/24/2019 </u></p><p style="MARGIN: 0px">Date</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Accretive Capital Partners, LLC</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">By Accretive Capital Management, LLC</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">By: <em><u>/s/ Richard E. Fearon</u><u>, Jr. </u></em></p><p style="MARGIN: 0px">Name: Richard E. Fearon, Jr.</p><p style="MARGIN: 0px">Title: Managing Member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td valign="top" width="40%"><p style="MARGIN: 0px"><u>6/24/2019 </u></p><p style="MARGIN: 0px">Date</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Accretive Capital Asia, LLC</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">By Accretive Capital Management, LLC</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">By: <em><u>/s/ Richard E. Fearon</u><u>, Jr.</u></em></p><p style="MARGIN: 0px">Name: Richard E. Fearon, Jr.</p><p style="MARGIN: 0px">Title: Managing Member</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="40%"><p style="MARGIN: 0px"><u>6/24/2019 </u></p><p style="MARGIN: 0px">Date</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Richard E. Fearon, Jr. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><u><em>/s/ Richard E. Fearon, Jr. </em></u></p><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp; <table class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">10</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p></BODY><!--Document Created by EDGARMaster--></html>
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