<SEC-DOCUMENT>0001106191-18-000022.txt : 20180214
<SEC-HEADER>0001106191-18-000022.hdr.sgml : 20180214
<ACCEPTANCE-DATETIME>20180214102536
ACCESSION NUMBER:		0001106191-18-000022
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180214
DATE AS OF CHANGE:		20180214
GROUP MEMBERS:		BAY II RESOURCE PARTNERS, L.P.
GROUP MEMBERS:		BAY RESOURCE PARTNERS OFFSHORE MASTER FUND, L.P.
GROUP MEMBERS:		BAY RESOURCE PARTNERS, L.P.
GROUP MEMBERS:		GMT CAPITAL CORP.
GROUP MEMBERS:		THOMAS E. CLAUGUS

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALICO INC
		CENTRAL INDEX KEY:			0000003545
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				590906081
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-10791
		FILM NUMBER:		18608425

	BUSINESS ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913
		BUSINESS PHONE:		239-226-2000

	MAIL ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALICO LAND DEVELOPMENT CO
		DATE OF NAME CHANGE:	19740219

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GMT CAPITAL CORP
		CENTRAL INDEX KEY:			0001106191
		IRS NUMBER:				582021147

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		GMT CAPITAL CORP
		STREET 2:		2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339
		BUSINESS PHONE:		7709898250

	MAIL ADDRESS:	
		STREET 1:		GMT CAPITAL CORP
		STREET 2:		2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>eps7787_alco.htm
<DESCRIPTION>ALCO - 13G/A - 2017
<TEXT>
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<P STYLE="font: 9pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 9pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>SCHEDULE 13G/A</B></P>

<P STYLE="font: 9pt Times New Roman,serif; text-align: center; margin-right: 0; margin-left: 0"><B>Under the Securities Exchange
Act of 1934<BR>
(Amendment No. _<U>9</U>_)*</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>Alico, Inc.</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 12pt; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>Common Stock,
Par Value $1.00 Per Share</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 12pt 0 0; text-align: center; border-bottom: black 0.75pt solid"><B>016230104</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid"><B>December 29, 2017</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 11.25pt; text-align: center">(Date of Event which Requires Filing of this
Statement)</P>

<P STYLE="font: 9pt Times New Roman,serif; margin-right: 0; margin-left: 0">Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:<BR>
<FONT STYLE="font-family: MS Mincho">&#9745;</FONT>&nbsp;&nbsp;Rule 13d-1(b)<BR>
<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;Rule 13d-1(c)<BR>
<FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;Rule 13d-1(d)</P>

<P STYLE="font: 9pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><SUP>*</SUP> The remainder of
this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 9pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0">The information required on the
remainder of this cover page shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange
Act of 1934 (&quot;Act&quot;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; font: 11pt Calibri,sans-serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 2 of 13</FONT></TD></TR>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NAMES OF REPORTING PERSONS</FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Bay Resource Partners, L.P.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">&thorn;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Delaware</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">138,060</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">138,060</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">138,060</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.7%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PN</FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
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    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 3 of 13</FONT></TD></TR>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NAMES OF REPORTING PERSONS</FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Bay II Resource Partners, L.P.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">&thorn;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Delaware</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">96,220</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">96,220</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">96,220</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.2%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PN</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 81%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 4 of 13</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NAMES OF REPORTING PERSONS</FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Bay Resource Partners Offshore Master Fund, L.P.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">&thorn;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Cayman Islands</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">256,017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">256,017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">256,017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.1%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PN</FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 5 of 13</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NAMES OF REPORTING PERSONS</FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">GMT Capital Corp.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">&thorn;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">State of Georgia</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.3%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">IA</FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 6 of 13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NAMES OF REPORTING PERSONS</FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Thomas E. Claugus&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">&thorn;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">United States</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">5.</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">7.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">8.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">&nbsp;</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">516,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">(see instructions)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">6.3%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">IN</FONT></TD></TR>
<TR>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 7 of 13</FONT></TD></TR>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify"><B>Item 1.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Name of Issuer</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">The name of the issuer is Alico, Inc. (herein
referred to as &ldquo;Issuer&rdquo;).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Address of Issuer&rsquo;s Principal Executive Offices</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">The principal executive offices of the Issuer
are located at 10070 Daniels Interstate Court, Fort Myers, FL 33913.</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify"><B>Item 2.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Name of Person Filing</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">This Statement is filed on behalf of each
of the following persons (collectively, the &ldquo;Reporting Persons&rdquo;)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify">Bay Resource Partners, L.P., (Bay), with respect to shares of Common Stock directly owned by it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">ii)</TD><TD STYLE="text-align: justify">Bay II Resource Partners, L.P., (Bay II), with respect to shares of Common Stock directly owned
by it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">iii)</TD><TD STYLE="text-align: justify">Bay Resource Partners Offshore Master Fund, L.P. (Offshore Fund) with respect to shares of Common
Stock directly owned by it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">iv)</TD><TD STYLE="text-align: justify">GMT Capital Corp. (GMT Capital) with respect to shares of Common Stock directly owned by each of
GMT Capital separate account clients, Bay, Bay II, the Offshore Fund and Thomas E. Claugus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">v)</TD><TD STYLE="text-align: justify">Thomas E. Claugus, (Mr. Claugus), with respect to the shares of Common Stock directly owned by
him and directly owned by each of Bay, Bay II, the Offshore Fund and GMT Capital separate account clients.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 8pt 0 8pt 0.5in; text-align: justify">The foregoing persons are hereinafter
sometimes collectively referred to as the Reporting Persons. Any disclosures herein with respect to persons other than the Reporting
Persons are made on information and believe after making inquiry to the appropriate party.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Address of the Principal Office or, if none, residence</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">The address of the business office of each
of the Reporting Persons is 2300 Windy Ridge Parkway, Ste. 550 South, Atlanta, GA 30339.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Citizenship</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 0 0.5in; text-align: justify">Bay and Bay II are limited partnerships organized
under the laws of the State of Delaware. The Offshore Fund is an exempted limited partnership organized under the laws of the
Cayman Islands. GMT Capital is a Georgia corporation. Mr. Claugus is a United States citizen.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">Title of Class of Securities</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">The schedule 13G statement relates to Common
Stock, par value $1.00 per share of the Issuer.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify">CUSIP Number</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt 0.5in; text-align: justify">The CUSIP number for the Common Stock is
016230104.</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 8 of 13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Item 3. Filing pursuant to
&sect;240.13d-1(c)</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">If this statement is filed pursuant to Sec. 240.13d-1(b)
or 240.13d-2(b) or (c), check whether the person filing is a :</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> Broker or dealer registered under section
15 of the Act (15 U.S.D. 78o):</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> Bank as defined in section 3(a)(6) of
the Act (15 U.S.C. 78c);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> Insurance company as de<FONT STYLE="background-color: white">fined
in section 3(a)(19) of the Act (15 U.S.C. 78c);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> <FONT STYLE="background-color: white">Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(e)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9745;</B></FONT> <FONT STYLE="background-color: white">An
investment adviser in accordance with Sec. 240.13d-1(b)(1)(ii)(E);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(f)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> <FONT STYLE="background-color: white">An
employee benefit plan or endowment fund in accordance with Sec. 240.13d-1(b)(1)(ii)(F);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(g)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> <FONT STYLE="background-color: white">A
parent holding company or control person in accordance with Sec. 240.13d-1(b)(1)(ii)(G);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(h)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> <FONT STYLE="background-color: white">A
savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> <FONT STYLE="background-color: white">A
church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80a-3);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(j)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> A non-U.S. institution in accordance
with Sec. 240.13d-1(b)(1)(ii)(J);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(k)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: MS Gothic"><B>&#9744;</B></FONT> Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(J).&nbsp;</TD></TR></TABLE>



<P STYLE="font: 9pt Times New Roman,serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Item 4. Ownership</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt; text-align: justify">This statement is being filed with respect to
an aggregate of 516,427 shares of Common Stock, resulting in beneficial ownership of Common Stock as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Bay Resource Partners, L.P.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Amount Beneficially owned: 138,060.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Percent of Class: 1.7%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Number of shares to which the person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 138,060.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of 138,060.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Bay II Resource Partners, L.P.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Amount Beneficially owned: 96,220.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Percent of Class: 1.2%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Number of shares to which the person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 96,220.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of 96,220.</TD></TR></TABLE>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 9 of 13</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Bay Resource Partners Offshore Master Fund, L.P.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Amount Beneficially owned: 256,017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Percent of Class: 3.1%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Number of shares to which the person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 256,017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of 256,017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">GMT Capital Corp.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Amount Beneficially owned: 516,427.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Percent of Class: 6.3%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Number of shares to which the person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 516,427.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of: 516,427.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Thomas E. Claugus</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Amount Beneficially owned: 516,427.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Percent of Class: 6.3%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Number of shares to which the person has:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 516,427.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of: 516,427.</TD></TR></TABLE>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.</B></TD><TD STYLE="text-align: justify"><B>Ownership of Five Percent or Less of a Class.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9744;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">As of the date of this Report,
the aggregate beneficial ownership of the Reporting Persons had been reduced to below five percent (5%).</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 6.</B></TD><TD STYLE="text-align: justify"><B>Ownership of More than Five Percent on Behalf of another Person.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">GMT Capital, the general partner of Bay and Bay II,
has the power to direct the affairs of Bay and Bay II, including the voting and disposition of shares. As the discretionary investment
manager of the Offshore Fund and certain other accounts, GMT Capital has power to direct the voting and disposition of shares held
by the Offshore Fund and such accounts. Mr. Claugus is the President of GMT Capital and in that capacity directs the operations
of each of Bay and Bay II and the voting and disposition of shares held by the Offshore Fund and separate client accounts managed
by GMT Capital.</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 7.</B></TD><TD STYLE="text-align: justify"><B>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported
on By the Parent Holding Company.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">Not Applicable</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.</B></TD><TD STYLE="text-align: justify"><B>Identification and Classification of Members of the Group.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">Please see response to Item 2.</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.</B></TD><TD STYLE="text-align: justify"><B>Notice of Dissolution of Group.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">Not Applicable</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 11 of 13</FONT></TD></TR>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 10.</B></TD><TD STYLE="text-align: justify"><B>Certification</B></TD></TR></TABLE>

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<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">By signing below, I certify that,
to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or effect.</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0">After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

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<TR>
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">February 12, 2018</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Date</FONT></TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Calibri,sans-serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">/s/ Philip J. Meyers</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Philip J. Meyers, as Vice President of GMT Capital Corp., for itself and as the general partner of (i) Bay Resource Partners, L.P. and (ii) Bay II Resource Partners, L.P., and as the investment manager of (iii) Bay Resource Partners Offshore Master Fund, L.P. and (iv) certain other accounts and for Thomas E. Claugus.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 12 of 13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>EXHBIT INDEX</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><U>Ex.</U></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><U>Page No.</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joint Filing Agreement</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 9pt Times New Roman,serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

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<TR>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">CUSIP No. 016230104</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">13G</FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Page 13 of 13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: right"><B>EXHBIIT A</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-indent: 0.5in"><FONT STYLE="background-color: white">The undersigned
hereby agree that the statement on Schedule 13G with respect to the Ordinary Shares of Alico, Inc. dated as of February 12, 2018
is, and any amendments thereto signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance
with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.</FONT></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><B>Bay Resource Partners, L.P.</B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">/s/ Philip J. Meyers</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><B>Bay II Resource Partners, L.P.</B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">/s/ Philip J. Meyers</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><B>Bay Resource Partners Offshore Master Fund, L.P.</B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9pt Times New Roman,serif; margin: 0">/s/ Philip J. Meyers</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><B>GMT Capital Corp.</B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">/s/ Philip J. Meyers</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Vice President</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt"><B>Thomas E. Claugus</B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">/s/ Philip J. Meyers</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman,serif; font-size: 9pt">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman,serif; margin: 0"><B>&nbsp;</B></P>



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