<SEC-DOCUMENT>0001405086-16-000364.txt : 20160211
<SEC-HEADER>0001405086-16-000364.hdr.sgml : 20160211
<ACCEPTANCE-DATETIME>20160211165138
ACCESSION NUMBER:		0001405086-16-000364
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160211
DATE AS OF CHANGE:		20160211

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pacific Ethanol, Inc.
		CENTRAL INDEX KEY:			0000778164
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				412170618
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-51517
		FILM NUMBER:		161412360

	BUSINESS ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814
		BUSINESS PHONE:		916-403-2123

	MAIL ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCESSITY CORP
		DATE OF NAME CHANGE:	20030627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRIVERSSHIELD COM CORP
		DATE OF NAME CHANGE:	20001115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST PRIORITY GROUP INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VERTEX ONE ASSET MANAGEMENT INC.
		CENTRAL INDEX KEY:			0001389610
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		3200 - 1021 WEST HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 0C3
		BUSINESS PHONE:		604-681-5787

	MAIL ADDRESS:	
		STREET 1:		3200 - 1021 WEST HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 0C3
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>pacificethanol.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="author" CONTENT="Isela Padilla">
<META NAME="date" CONTENT="02/10/2016">
</HEAD>
<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, DC &nbsp;20549</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><B>_________</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><B>SCHEDULE 13G<BR>
</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><B>Under the Securities Exchange Act of 1934<BR>
(Amendment No. 2) <SUP>1<BR>
</SUP></B></P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:252.133px; font-size:11pt"><U>Pacific Ethanol, Inc.</U></P>
<P style="margin:0px; font-size:11pt" align=center>(Name of Issuer)</P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin:0px; text-indent:210px; font-size:11pt"><U>Common Stock (&#147;Common Stock&#148;)</U></P>
<P style="margin:0px; font-size:11pt" align=center>(Title of Class of Securities)</P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin:0px; text-indent:277.4px; font-size:11pt"><U>69423U305</U></P>
<P style="margin:0px; font-size:11pt" align=center>(CUSIP Number)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=center><U>December 31, 2015</U></P>
<P style="margin:0px; font-size:11pt" align=center>(Date of Event Which Requires Filing of this Statement)</P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Check the appropriate box to designate the Rule pursuant to which this Schedule is filed:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-family:'Wingdings'; float:left">&#253;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-size:11pt" align=justify>Rule 13d-1(b)</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-family:'Wingdings'; clear:left; float:left">&#168;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-size:11pt" align=justify>Rule 13d-1(c)</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; font-family:'Wingdings'; clear:left; float:left">&#168;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-size:11pt" align=justify>Rule 13d-1(d) </P>
<P style="margin-top:0px; margin-bottom:14.667px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:'Calibri,Times New Roman'; font-size:11pt">1 The remainder of this cover page shall be filled out for a reporting person<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:'Calibri,Times New Roman'; font-size:11pt">The information required in the remainder of this cover page shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#147;Act&#148;) 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>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; font-size:8pt" align=justify>{01941791; 7; 8431-1 }</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 2 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=175.2 /><TD width=216 /><TD width=247.2 /></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">1.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Names of Reporting Persons.<BR>
I.R.S. Identification Nos. of above persons (entities only).</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">John Thiessen</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">2.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(a)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(b)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">x</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">3.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">SEC Use Only</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">4.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Citizenship or Place of Organization</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">Canada</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-right:1px dashed #000000; border-bottom:1px dashed #000000" valign=top width=175.2><P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">Number of Shares Beneficially Owned by Each Reporting Person With</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=216><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">5.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">6.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">7.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Dispositive Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">8.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Dispositive Power</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
<P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">9.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">0 shares of Common Stock</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">10.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:552px; font-size:11pt; float:left">Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">11.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Percent of Class Represented by Amount in Row (9)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">0.0%</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">12.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Type of Reporting Person (See Instructions)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">IN</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 3 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=175.2 /><TD width=216 /><TD width=247.2 /></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=638.4 colspan=3><P style="margin:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">1.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Names of Reporting Persons.<BR>
I.R.S. Identification Nos. of above persons (entities only).</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">Vertex One Asset Management, Inc.<BR>
</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">2.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(a)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(b)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">x</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">3.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">SEC Use Only</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">4.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Citizenship or Place of Organization</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">British Columbia, Canada</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-right:1px dashed #000000; border-bottom:1px dashed #000000" valign=top width=175.2><P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">Number of Shares Beneficially Owned by Each Reporting Person With</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=216><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">5.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">6.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">7.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Dispositive Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">8.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Dispositive Power</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
<P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">9.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">1,418,380 shares of Common Stock</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">10.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:552px; font-size:11pt; float:left">Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">11.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Percent of Class Represented by Amount in Row (9)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">0.0 %</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">12.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Type of Reporting Person (See Instructions)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">CO</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=638.4 colspan=3><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 4 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=175.2 /><TD width=216 /><TD width=247.2 /></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">1.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Names of Reporting Persons.<BR>
I.R.S. Identification Nos. of above persons (entities only).</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">Vertex Fund<BR>
</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">2.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(a)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
<P style=margin-top:8.867px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; font-size:11pt; clear:left; float:left">(b)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">x</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">3.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">SEC Use Only</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">4.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Citizenship or Place of Organization</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">British Columbia, Canada</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-right:1px dashed #000000; border-bottom:1px dashed #000000" valign=top width=175.2><P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">Number of Shares Beneficially Owned by Each Reporting Person With</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=216><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">5.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">6.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Voting Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">7.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Sole Dispositive Power</P>
<P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; clear:left; float:left">8.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Shared Dispositive Power</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
<P style="margin:9.8px"><BR></P>
<P style="margin-top:9.8px; margin-bottom:9.8px; font-size:11pt">0</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">9.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; text-indent:48px; font-size:11pt; clear:left">0 shares of Common Stock</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">10.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:552px; font-size:11pt; float:left">Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-family:'Wingdings'">&#168;</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px dashed #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">11.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Percent of Class Represented by Amount in Row (9)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">0.0%</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=391.2 colspan=2><P style=margin-top:9.8px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; width:24px; font-size:11pt; float:left">12.</P>
<P style="margin-top:0px; margin-bottom:9.8px; padding-left:24px; text-indent:-2px; font-size:11pt">Type of Reporting Person (See Instructions)</P>
<P style="margin-top:9.8px; margin-bottom:9.8px; padding-left:24px; font-size:11pt; clear:left">CO</P>
</TD><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=247.2><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; padding-left:9.6px; padding-top:0px; padding-right:9.6px; padding-bottom:0px" valign=top width=638.4 colspan=3><P style="margin:0px; padding-left:9.6px; padding-right:9.6px; font-size:11pt">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 5 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px; font-size:11pt" align=center>Schedule 13G</P>
<P style="margin:0px; font-size:11pt" align=center>Common Stock</P>
<P style="margin:0px; font-size:11pt" align=center>CUSIP No. 69423U305</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 1(a)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Name of Issuer:</B></P>
<P style="margin:0px; text-indent:96px; font-size:11pt; clear:left" align=justify>Pacific Ethanol, Inc. (the &#147;Issuer&#148;)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 1(b)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Address of Issuer&#146;s Principal Executive Offices:</B></P>
<P style="margin:0px; text-indent:96px; font-size:11pt; clear:left" align=justify>400 Capitol Mall, Suite 2060<BR>
</P>
<P style="margin:0px; text-indent:96px" align=justify>Sacramento, California</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 2(a)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Name of Person filing:</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>The following &#147;Reporting Persons&#148;:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>John Thiessen</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>Vertex One Asset Management, Inc. (&#147;Vertex One&#148;)</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>Vertex Fund </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 2(b)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Address of Principal Business Office or, if None, Residence:</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>c/o Vertex One Asset Management, Inc.</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>1177 W. Hastings St #1920</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:144px; font-size:11pt; float:left">Vancouver, BC </P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify>V6E 2K3</P>
<P style="margin:0px; text-indent:48px; font-size:11pt; clear:left" align=justify>Canada</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 2(c)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Citizenship:</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Please refer to Item 4 on each cover sheet for each filing person.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 2(d)</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:-2px; font-size:11pt" align=justify><B>Title of Class of Securities:</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt; clear:left" align=justify>Common Stock, par value $0.001 per share</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 2(e)</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>CUSIP Number:</B> 69423U305</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify><B>Item 3.</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Not applicable</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 4</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Ownership.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>As of December 31, 2015, none of the Reporting Persons beneficially owned any shares of Common Stock. &nbsp;Please see Items 5, 6, 7, 8, 9 and 11 of each cover sheet for each Reporting Person.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>The Reporting Persons are making this single, joint filing because they may be deemed to constitute a &#147;group&#148; within the meaning of Section 13(d)(3) of the Act. &nbsp;Each Reporting Person disclaims </P>
<P style="margin-top:0px; margin-bottom:14.667px" align=justify><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 6 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify>the existence of a &#147;group&#148; and, except as set forth below, disclaims beneficial ownership of all shares of Common Stock or securities convertible into or exercisable for Common Stock other than any shares or other securities reported herein as being directly owned by it or him, as the case may be. &nbsp;Each of the Reporting Persons states that it or he, as the case may be, is included in this filing solely for the purpose of presenting information with respect to the beneficial ownership of the shares of Common Stock and disclaims any knowledge, except as hereinafter expressly set forth, as to any statements made herein on behalf of any other Reporting Person. Each Reporting Person is signing this statement only as to information with respect to, or furnished by, such Reporting Person, and makes no representation as to information furnished by any other Reporting Person.</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 5</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Ownership of Five Percent or Less of a Class.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [x]. </P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 6</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Ownership of More than Five Percent on Behalf of Another Person.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 7</B></P>
<P style="margin:0px; padding-left:96px; text-indent:-2px; font-size:11pt" align=justify><B>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 8</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Identification and Classification of Members of the Group.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 9</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Notice of Dissolution of Group.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 10</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify><B>Certification.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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="margin-top:0px; margin-bottom:14.667px" align=justify><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 7 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>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="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify><U>Signature:</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>Dated: February 11, 2016</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>John Thiessen</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex One Asset Management, Inc.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex Fund</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Vertex One Asset Management, Inc.,</P>
<P style="margin:0px; padding-left:288px; text-indent:48px; font-size:11pt; clear:left" align=justify>its Fund Manager</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin-top:0px; margin-bottom:14.667px; clear:left" align=justify><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 8 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt"><B><U>INDEX TO EXHIBITS</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:192px; font-size:11pt; float:left">EXHIBIT A</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify>Joint Filing Agreement </P>
<P style="margin-top:0px; margin-bottom:14.667px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:192px; font-size:11pt; float:left">EXHIBIT B</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt" align=justify>Power of Attorney</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<A NAME="_Toc535392477"></A><P style="margin-top:0px; margin-bottom:14.667px" align=center><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 9 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><U>EXHIBIT A</U></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify><B>Joint Filing Agreement </B></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other on behalf of each of them of such a statement on Schedule 13G with respect to the Common Stock beneficially owned by each of them of Pacific Ethanol, Inc.. This Joint Filing Agreement shall be included as an Exhibit to such Schedule 13G.</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing Agreement as of the 11th day of February, 2016.</P>
<P style="margin-top:0px; margin-bottom:14.667px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>John Thiessen</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex One Asset Management, Inc.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex Fund</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Vertex One Asset Management, Inc.,</P>
<P style="margin:0px; padding-left:288px; text-indent:48px; font-size:11pt; clear:left" align=justify>&nbsp;its Fund Manager</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin-top:0px; margin-bottom:14.667px; clear:left" align=center><BR>
<BR></P>
<P style="margin:0px; font-size:8pt" align=justify>{01941791; 7; 8431-1 }</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always" align=justify>Cusip No. 69423U305 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13G &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 10 of 10 pages</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center><U>EXHIBIT B</U></P>
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=justify><B>Power of Attorney</B></P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>The undersigned hereby make, constitute and appoint Martin Lang, acting individually, with full power of substitution, the true and lawful attorney-in-fact for the undersigned, in the undersigned&#146;s name, place and stead and on the undersigned&#146;s behalf, to complete, execute and file with the United States Securities and Exchange Commission (the &#147;Commission&#148;), a statement on Schedule 13G with respect to the securities of <B>Pacific Ethanol, Inc.</B>, a Delaware corporation, and any and all amendments thereto pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, and any other forms, certificates, documents or instruments (including a Joint Filing Agreement) that the attorneys-in-fact (or either of them) deem(s) necessary or appropriate in order to enable the undersigned to comply with the requirements of said Section 13(d) and said rules and regulations.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>This Power of Attorney shall remain in effect for a period of two years from the date hereof or until such earlier date as a written revocation thereof is filed with the Commission.</P>
<P style="margin:0px; text-indent:48px; font-size:11pt" align=justify>IN WITNESS WHEREOF, the undersigned hereby execute this Power of Attorney as of the 11<SUP>th</SUP> day of February, 2016.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>John Thiessen</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex One Asset Management, Inc.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:288px; font-size:11pt" align=justify><B>Vertex Fund</B></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>&nbsp;Vertex One Asset Management, Inc.,</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">&nbsp;</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>its Fund Manager</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; float:left">By: </P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify><U>/s/ John Thiessen</U></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Name:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>John Thiessen </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:288px; width:336px; font-size:11pt; clear:left; float:left">Title:</P>
<P style="margin:0px; padding-left:288px; text-indent:-2px; font-size:11pt" align=justify>Director and Portfolio Manager</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:14.667px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR>
<BR></P>
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</SEC-DOCUMENT>
