<SEC-DOCUMENT>0001213900-16-011214.txt : 20160225
<SEC-HEADER>0001213900-16-011214.hdr.sgml : 20160225
<ACCEPTANCE-DATETIME>20160225163529
ACCESSION NUMBER:		0001213900-16-011214
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160225
DATE AS OF CHANGE:		20160225
GROUP MEMBERS:		ARTERIO, INC.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IMMUCELL CORP /DE/
		CENTRAL INDEX KEY:			0000811641
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				010382980
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-39373
		FILM NUMBER:		161456425

	BUSINESS ADDRESS:	
		STREET 1:		56 EVERGREEN DR
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103
		BUSINESS PHONE:		2078782770

	MAIL ADDRESS:	
		STREET 1:		56 EVERGREEN DRIVE
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROTHSCHILD JONATHAN E
		CENTRAL INDEX KEY:			0001043218

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		C/O IMMUCELL CORP
		STREET 2:		56 EVERGREEN DRIVE
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>sc13d0216a3roth_immucell.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Under the Securities Exchange Act of
1934</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Amendment No. 3)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>ImmuCell Corporation</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Common Stock, par value $0.10 per
share</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>45252306</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jonathan E. Rothschild</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>c/o ImmuCell Corporation</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>56 Evergreen Drive</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Portland, ME 04103</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>February 3, 2016</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Date of Event Which Requires Filing
of this Statement)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule
13D, and is filing this schedule because of&nbsp;&nbsp;&sect;&sect; 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box </FONT><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The information required in the remainder
of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of
1934 (&ldquo;<U>Act</U>&rdquo;) 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="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>




<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;&nbsp;CUSIP No.<B>&nbsp;&nbsp;452525306</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Names of Reporting Person:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 20pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jonathan E. Rothschild</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the Appropriate Box if a Member of a Group (<I>See</I> Instructions)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 15%; text-align: right; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;</font></td>
    <TD STYLE="width: 85%; line-height: 115%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">o</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: right; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">o</font></td></tr>
</table>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEC
Use Only:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source
of Funds (See Instruction):&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P F</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">
&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or (e):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizenship
or Place of Organization:&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
USA</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Number of Shares Beneficially by Owned by Each Reporting
Person With:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; background-color: white; font-size: 10pt">
<tr>
    <TD STYLE="width: 6%; text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</font></td>
    <TD STYLE="width: 31%; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole Voting Power:&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="width: 63%; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">510,158</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared Voting Power:&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole Dispositive Power:</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">510,158</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared Dispositive Power:&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td></tr>
</table>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;Aggregate
Amount Beneficially Owned by Each Reporting Person:&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510,158</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp; </FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Percent
of Class Represented by Amount in Row (11):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2%</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Type
of Reporting Person (See Instructions):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;IN</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>
<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;&nbsp;CUSIP No.<B>&nbsp;&nbsp;452525306</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;Names of Reporting Person:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arterio, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the Appropriate Box if a Member of a Group (<I>See</I> Instructions)</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <TD STYLE="width: 14%; text-align: right; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;</font></td>
    <TD STYLE="width: 86%; line-height: 115%"><font style="font-family: Wingdings; font-size: 10pt">o</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: right; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Wingdings; font-size: 10pt">o</font></td></tr>
</table>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEC
Use Only:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source
of Funds (See Instruction):&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W
C</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or (e):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-indent: 0.5in">&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizenship
or Place of Organization:&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;USA</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Number of Shares Beneficially by Owned by Each Reporting
Person With:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; background-color: white; font-size: 10pt">
<tr>
    <TD STYLE="width: 6%; text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</font></td>
    <TD STYLE="width: 31%; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole Voting Power:&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="width: 63%; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">226,416</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared Voting Power:&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole Dispositive Power:</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">226,416</font></td></tr>
<tr>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD STYLE="line-height: 115%">&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared Dispositive Power:&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td></tr>
</table>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;Aggregate
Amount Beneficially Owned by Each Reporting Person:&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226,416</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp; </FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Percent
of Class Represented by Amount in Row (11):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4%</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Type
of Reporting Person (See Instructions):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 -20pt; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;CO</P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 1. &nbsp;SECURITY
AND ISSUER</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Common stock, par value $0.10 per share</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">ImmuCell Corporation</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">56 Evergreen Drive</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Portland, ME 04103</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 2.&nbsp;&nbsp;IDENTITY AND BACKGROUND</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of Persons filing this Statement:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Jonathan E. Rothschild</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Residence or Business Address:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">c/o ImmuCell Corporation<BR>
56 Evergreen Drive</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Portland, ME 04103</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c)&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Present Principal Occupation and Employment:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Outside Director of ImmuCell Corporation</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-weight: bold; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(d)&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="font-weight: bold; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Criminal Convictions:</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; line-height: 115%">&nbsp;</td>
    <td style="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None of the Reporting Persons have been charged or convicted in a criminal proceeding during the last five years.</font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(e)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Civil Proceedings:</b></font></td></tr>
</table>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">None of the Reporting Persons have been a party
to a civil proceeding of a judicial or administrative body of competent jurisdiction during the last five years where such person,
as result of such proceeding, was or became subject to a judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding any violation with respect to such law.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(f)&nbsp;&nbsp;</b></font></td>
    <td>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>State of Incorporation/Organization/Citizenship:</b></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">USA</P></td></tr>
</table>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of Persons filing this Statement:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Arterio, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Residence or Business Address:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">1601 B Shary Circle</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Concord, CA 94518</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c)&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Present Principal Occupation and Employment:</b></font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">A corporation owned solely by Mr. Jonathan E. Rothschild.
Mr. Rothschild is president of Arterio, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Criminal Convictions:</b></font></td></tr>
</table>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 48px; line-height: 115%">&nbsp;</td>
    <td style="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None of the Reporting Persons have been charged or convicted in a criminal proceeding during the last five years.</font></td></tr>
</table>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(e)&nbsp;&nbsp;</b></font></td>
    <td style="font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Civil Proceedings:</b></font></td></tr>
</table>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>




<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">None of the Reporting Persons have been a party
to a civil proceeding of a judicial or administrative body of competent jurisdiction during the last five years where such person,
as result of such proceeding, was or became subject to a judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding any violation with respect to such law.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-weight: bold; line-height: 115%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(f)&nbsp;&nbsp;</b></font></td>
    <td>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><b>State of Incorporation/Organization/Citizenship:</b></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">USA</P></td></tr>
</table>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 3.&nbsp;&nbsp;SOURCE
AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The source of the $1,393,418 used to acquire the
510,158 shares of common stock is personal funds of the reporting person. The source of the $640,051 used to acquire the 226,416
shares of common stock by Arterio, Inc. is working capital of Arterio, Inc.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 4.&nbsp;&nbsp;PURPOSE
OF TRANSACTION</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The purpose of the acquisition is personal
investment.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 5.&nbsp;&nbsp;INTEREST
IN SECURITIES OF THE ISSUER</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The 510,158 shares, which represents 12.2% of the
outstanding common stock, include 226,416 shares held by Arterio, Inc., a corporation owned solely by Mr. Rothschild. The 226,416
shares held by Arterio, Inc. represent 5.4% of the outstanding common stock.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 6.&nbsp;&nbsp;CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">n/a</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>ITEM 7.&nbsp; MATERIAL
TO BE FILED AS EXHIBITS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">n/a</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">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: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<tr style="vertical-align: top">
    <TD STYLE="width: 65%; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Dated:&nbsp;&nbsp;February 25, 2016</font></td>
    <TD STYLE="width: 35%; text-decoration: underline; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/&nbsp;Michael
F. Brigham &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Name: Michael F. Brigham</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attorney-in-fact</P></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>



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