<SEC-DOCUMENT>0001398344-19-000320.txt : 20190107
<SEC-HEADER>0001398344-19-000320.hdr.sgml : 20190107
<ACCEPTANCE-DATETIME>20190107163229
ACCESSION NUMBER:		0001398344-19-000320
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190107
DATE AS OF CHANGE:		20190107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERZFELD CARIBBEAN BASIN FUND INC
		CENTRAL INDEX KEY:			0000880406
		IRS NUMBER:				650396889
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-86371
		FILM NUMBER:		19513705

	BUSINESS ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		3052711900

	MAIL ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CUBA FUND INC
		DATE OF NAME CHANGE:	19920929

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERZFELD THOMAS J
		CENTRAL INDEX KEY:			0001310710

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		THE HERZFELD CARIBBEAN BASIN FUND INC
		STREET 2:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>fp0038310_sc13da.htm
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Under the Securities Exchange Act of 1934<BR>
(Amendment No. 11)*</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">The Herzfeld Caribbean Basin Fund, Inc.</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Common stock</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">42804T106</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">119 Washington Avenue, Suite 504 Miami Beach,
FL 33139</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, Address and Telephone Number of Person</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Authorized to Receive Notices and Communications)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">December 27, 2018</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Date of Event which Requires Filing of this
Statement)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &sect;&sect;240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. [ ]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Note</B>: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See &sect;240.13d-7 for other parties to whom copies are to be
sent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>*</SUP></TD><TD STYLE="text-align: justify">The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.</TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The information required on the remainder of this cover page shall
not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&quot;Act&quot;) or
otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 11pt">CUSIP No. 42804T106</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-size: 11pt">13D</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 35%"><FONT STYLE="font-size: 11pt">Page 2 of 4 Pages</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right; width: 3%"><FONT STYLE="font-size: 11pt">1.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 3%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 92%"><FONT STYLE="font-size: 11pt">NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</FONT><BR>
<BR>
<FONT STYLE="font-size: 11pt">Thomas J. Herzfeld, et al. </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">2.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">CHECK THE APPROPRIATE BOX IF
A MEMBER OF A GROUP</FONT><BR>
<FONT STYLE="font-size: 11pt">(see instructions)</FONT><BR>
<FONT STYLE="font-size: 11pt">(a) [ &nbsp;]</FONT><BR>
<FONT STYLE="font-size: 11pt">(b) [&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">3.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">SEC USE ONLY</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">4.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">SOURCE OF FUNDS (see instructions)</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT><BR>
<FONT STYLE="font-size: 11pt">PF, OO</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">5.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) &nbsp;[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">6.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">CITIZENSHIP OR PLACE OF ORGANIZATION</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT><BR>
<FONT STYLE="font-size: 11pt">Miami Beach, Florida </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD ROWSPAN="4" STYLE="width: 15%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING<BR>
PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">7.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 80%; border-bottom: black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">SOLE VOTING POWER<BR>
        <BR>
        </P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">498,348</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">8.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">SHARED VOTING POWER</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT><BR>
<FONT STYLE="font-size: 11pt">502,832</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">9.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">SOLE DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT><BR>
<FONT STYLE="font-size: 11pt">498,348</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">SHARED DISPOSITIVE POWER</FONT><BR>
<FONT STYLE="font-size: 11pt">&nbsp;</FONT><BR>
<FONT STYLE="font-size: 11pt">502,832</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; width: 3%"><FONT STYLE="font-size: 11pt">11.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 3%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 92%"><FONT STYLE="font-size: 11pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON </FONT><BR>
<BR>
<FONT STYLE="font-size: 11pt">1,001,180</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 1%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">12.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT><BR>
<FONT STYLE="font-size: 11pt">(see instructions) [ ]</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">13.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR>
        <BR>
        </P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">16.32%</P></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 11pt">14.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">TYPE OF REPORTING PERSON (see instructions) </FONT><BR>
<BR>
<FONT STYLE="font-size: 11pt">IN, IA </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 11pt">CUSIP No. 42804T106</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-size: 11pt">13D</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 35%"><FONT STYLE="font-size: 11pt">Page 3 of 4 Pages</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 1. Security and Issuer.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">This Schedule 13D relates to the common stock of The Herzfeld Caribbean
Basin Fund, Inc. (CUBA) (the &ldquo;Issuer&rdquo;). The address of the principal executive offices of the Issuer is:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">119 Washington Avenue, Suite 504</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Miami Beach, FL 33139</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 2. Identity and Background.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>This statement is filed on behalf of Thomas J. Herzfeld, et al. (the &ldquo;Reporting Person&rdquo;) with respect to common
stock owned individually by the Reporting Person and in his role as portfolio manager of investment advisory accounts of the clients
(&ldquo;advisory clients&rdquo;) of Thomas J. Herzfeld Advisors, Inc. a registered investment adviser for which Mr. Herzfeld has
a dispositive and/or voting power (&ldquo;Accounts&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>The principal business address of the Reporting Person is 119 Washington Avenue, Suite 504 Miami Beach, FL 33139.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>The Reporting Person is the Chairman of Thomas J. Herzfeld Advisors, Inc. a registered investment adviser whose principal place
of business is 119 Washington Avenue, Suite 504 Miami Beach, FL 33139.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors);</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD>During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result thereof were or are subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with
respect to such laws; and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD>The Reporting Person is a citizen of the United States.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 3. Source or Amount of Funds or Other Consideration.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">All funds used to purchase common stock were assets of the Reporting
Person or respective investment advisory clients. In addition, none of the funds used to purchase the common stocks were provided
through borrowings of any nature.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 4. Purpose of Transaction.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Reporting Person acquired the common stock for investment purposes
in consideration of the future prospects of the Issuer as an effective long-term investment. The Reporting Persons may acquire
additional shares of common stock, or dispose of the shares of common stock, from time to time, in open market or privately negotiated
transactions. Except as set forth above, the Reporting Person has no plans or proposals with respect to any of the matters set
forth in paragraphs (a) through (j) of Item 4 of Schedule 13D.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 5. Interest in Securities of the Issuer.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>The aggregate number of common stock to which this Schedule 13D relates is 1,001,180 common stock representing 16.32% of the
6,133,659 shares outstanding as reported by the issuer as of June 30, 2018.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>With respect to the shares of common stock owned individually, the Reporting Person beneficially owns with sole power to vote
and dispose of 498,348 shares of common stock. With respect to the Accounts, the Reporting Person beneficially owns, with shared
power to vote and/or dispose of 502,832 shares of common stock.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>Prior to November 15, 2018 advisory clients owned 604,826 shares of common stock. Prior to November 15, 2018 the Reporting
Person owned 473,085 shares of common stock. On November 15, 2018 through the open market the advisory clients sold 4,916 shares
of common stock at $5.7465 per share. On December 13, 2018 through the open market the advisory clients sold 785 shares of common
stock at $5.2646 per share. On December 17, 2018 through the open market the advisory clients sold 13,417 shares of common stock
at $5.1963 per share. On December 18, 2018 through the open market the advisory clients sold 3,114 shares of common stock at $5.213
per share. On December 19, 2018 through the open market the advisory clients sold 11,838 shares of common stock at $5.1112 per
share. On December 20, 2018 through the open market the advisory clients sold 8,700 shares of common stock at $4.98 per share.
On December 21, 2018 through the open market the advisory clients sold 10,000 shares of common stock at $4.9008 per share. On December
26, 2018 through the open market the advisory clients sold 20,000 shares of common stock at $4.8802 per share. On December 27,
2018 through the open market the advisory clients sold 26,434 shares of common stock at 4.8709. On December 28, 2018 through dividend
reinvestment the Reporting Person purchased 9,263 shares of common stock at $5.0023 per share. On December 31, 2018 through dividend
reinvestment the advisory clients purchased a total of 2,470 shares of common stock at the price of $5.2883 per share. On December
31, 2018 through the open market the advisory clients sold 5,260 shares of common stock at $4.96 per share. On January 2, 2019
through the open market, the Reporting person purchased 5,600 shares of common stock at $4.9703 per share. On January 3, 2019 through
the open market, the Reporting person purchased 10,400 shares of common stock at $4.99 per share.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>The owner of each of the Accounts individually has the right to receive and the power to direct the receipt of dividends from,
or proceeds from the sale of, the shares of common stock. To date no owner of an Account holds more than 5% of the Issuer&rsquo;s
common shares.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Except for the investment advisory agreements between Thomas J.
Herzfeld Advisors, Inc. and the owners of the Accounts, there are no contracts, arrangements, understandings or relationships (legal
or otherwise) between the Reporting Person and any other person with respect to any securities of the Issuer.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 7. Material to Be Filed as Exhibits.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">None.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 11pt">CUSIP No. 42804T106</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-size: 11pt">13D</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 35%"><FONT STYLE="font-size: 11pt">Page 4 of 4 Pages</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt 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: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 11pt">Thomas J. Herzfeld Advisors, Inc.</FONT></TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">/s/ Thomas J. Herzfeld</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">Thomas J. Herzfeld</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">Chairman</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">January 7, 2019</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 11pt">Date</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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