<SEC-DOCUMENT>0000919574-18-000609.txt : 20180125
<SEC-HEADER>0000919574-18-000609.hdr.sgml : 20180125
<ACCEPTANCE-DATETIME>20180125161911
ACCESSION NUMBER:		0000919574-18-000609
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180125
DATE AS OF CHANGE:		20180125

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOP SHIPS INC.
		CENTRAL INDEX KEY:			0001296484
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79968
		FILM NUMBER:		18548475

	BUSINESS ADDRESS:	
		STREET 1:		1, VASSILISSIS SOFIAS STR. & MEG.
		STREET 2:		ALEXANDROU STR.
		CITY:			151 24, MAROUSSI
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		011-30-210-81-28-107

	MAIL ADDRESS:	
		STREET 1:		1, VASSILISSIS SOFIAS STR. & MEG.
		STREET 2:		ALEXANDROU STR.
		CITY:			151 24, MAROUSSI
		STATE:			J3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TOP TANKERS INC.
		DATE OF NAME CHANGE:	20040706

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOVEREIGN HOLDINGS INC.
		CENTRAL INDEX KEY:			0001317081
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O G.C. ECONOMOU & ASSOCIATES
		STREET 2:		126 KOLOKOTRONI STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			185 35
		BUSINESS PHONE:		30210 4282383

	MAIL ADDRESS:	
		STREET 1:		C/O G.C. ECONOMOU & ASSOCIATES
		STREET 2:		126 KOLOKOTRONI STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			185 35
</SEC-HEADER>
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<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d7805680_13d-a.htm
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">WASHINGTON, DC 20549</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SCHEDULE 13D/A</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Under the Securities Exchange Act of 1934</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Amendment No. 37)*</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">TOP SHIPS INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Name of Issuer)</div>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Common Stock, par value $0.01 per share</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Title of Class of Securities)</div>
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<div style="TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Y8897Y701</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(CUSIP Number)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">George Economou</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">G.C. Economou &amp; Associates</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">11 Kanari Street</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">106 71 Athens, Greece</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">011 (30) 210 364 0030</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Name, Address and Telephone Number of Person Authorized to Receive</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Notices and Communications)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">January 24, 2018</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Date of Event Which Requires Filing of This Statement)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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 &#167;&#167; 240.13d-1(e), 240.13d&#8209;1(f) or 240.13d-1(g), check the following box <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font>.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Note:&#160; Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.&#160; See Rule 13d-7 for other parties to whom copies are to be sent.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; 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.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") 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).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
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<td style="WIDTH: 53.68%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.86%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Family Trading Inc.</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
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<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">118<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">118<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">118<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less than 0.1%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(1) Represents 118 Common Shares (defined in Item 1 below) currently held by Family Trading Inc.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a)</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="z08b3a48a7dc94008abcdc9c52e8d6cb1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 14.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 22.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.7%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.84%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="z5aff9f6ea84342c6a470810647d9c968" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sovereign Holdings Inc.</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">27</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">27</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">27<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less than 0.1%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.28%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1) Represents <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">27 </font>Common Shares currently held by Sovereign Holdings Inc.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a).</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="z88800f6317fd452f896fe34741bdf1a1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 15.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 21.08%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.68%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="z5fd759d82d7c4c0bad2e73b66dfe5644" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Epsilon Holdings Inc.</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">12</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">12</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less than 0.1%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1) Represents <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">12</font> Common Shares currently held by Epsilon Holdings Inc.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a).</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="zd84db7d4714d4072835e6a4a1369b598" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 14.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 22.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.68%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="zfcd01cf096db4e27a2bbfd85079d68ed" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Oscar Shipholding Ltd</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">8</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">8</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less than 0.1%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> (1) Represents 8 Common Shares currently held by Oscar Shipholding Ltd.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a).</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="z876f273aeaf54ac691704377450b9b92" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 15.38%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 21.08%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.68%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.86%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="z6eda025bf1f241c2a373330e82b0b8a1" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Race Navigation Inc.</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14,837,514<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14,837,514<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14,837,514<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.2%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1) Represents 14 Common Shares currently held by Race Navigation Inc. and 14,837,500 Common Shares issuable upon exercise of warrants currently held by Race Navigation Inc. See Item 3 below.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a).</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="zd91f3736318e461dbe11419138069e68" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 17.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 18.92%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.88%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.9%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="zac6b410c1b2746e4beaa3ebbc8a7adb9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Tankers Family Inc.</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Republic of the Marshall Islands</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less than 0.1%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(3)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1) Represents 10 Common Shares currently held by Tankers Family Inc.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) On May 8, 2017, the Issuer (defined below) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">issued 100,000 shares of Series D Preferred Stock</font> to Tankers Family Inc. One share of Series D Preferred Stock has the voting power of 1,000 Common Shares. Shares of the Series D Preferred Stock are not convertible into Common Shares. See Item 6.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(3) See Item 5(a).</div>

<div><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table id="zf0e8cd5c06f149269068480efc333c7e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 13.4%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CUSIP No.</div>
</td>
<td style="WIDTH: 23.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Y8897Y701</div>
</td>
<td style="WIDTH: 53.68%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 9.42%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div><br>
</div>

<table id="z38c2f0b826a7450fbbc9de537645cbec" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NAME OF REPORTING PERSONS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The Lax Trust</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[X]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SEC USE ONLY</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOURCE OF FUNDS</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OO</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">New Zealand</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: top" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED VOTING POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">14,837,691</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">0</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">SHARED DISPOSITIVE POWER</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">14,837,691</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14,837,691<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(1)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">12.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">[_]</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">13.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">11.2%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">(2)</sup></div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">TYPE OF REPORTING PERSON</div>
</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 8.12%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 81.28%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.3%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">____________________</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(1) The Lax Trust is an irrevocable trust established for the benefit of certain family members of Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Issuer. The Lax Trust is the sole shareholder of Family Trading Inc., Sovereign Holdings Inc., Epsilon Holdings Inc., Oscar Shipholding Ltd, Race Navigation Inc., and Tankers Family Inc., each a Marshall Islands corporation (collectively, the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Holding Companies</u></font>") and may be deemed to beneficially own all of the Common Shares and shares of Series D Preferred Stock beneficially owned by the Holding Companies, as applicable.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(2) See Item 5(a).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">This Amendment No. 37 (this "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Amendment No. 37</u></font>") <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">amends and supplements the Schedule 13D/A (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Schedule 13D/A</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") filed with the U.S. Securities and Exchange Commission (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Commission</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") on behalf of Family Trading Inc. ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Family Trading</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), Sovereign Holdings Inc. ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Sovereign</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), Epsilon Holdings Inc. ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Epsilon</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), Oscar Shipholding Ltd ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Oscar</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), Race Navigation Inc. ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Race Navigation</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), Tankers Family Inc. ("</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Tankers Family</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), and the Lax Trust (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Trust</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">", and collectively, the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Reporting Persons</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") on December 21, 2017. </font>Capitalized terms used herein but not otherwise defined shall have the meaning set forth in the Schedule 13D/A filed with the Commission <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">on December 21, 2017</font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Security and Issuer</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">This Amendment No. 37 is being filed with respect to the </font>outstanding shares of common stock, par value $0.01 per share (the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Common Shares</u></font>") of TOP Ships Inc., a corporation incorporated in the Marshall Islands (the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Issuer</u></font>")<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The address of the principal executive offices of the Issuer is:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">1 Vasilisis Sofias and Megalou Alexandrou Str</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">15124 Maroussi</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Greece</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(a, b, c and f.) This Amendment No. 37 is being filed on behalf of the Reporting Persons. </font>Unless otherwise noted, the principal business address of the persons listed in Item 2 is 11 Kanari Street, 106 71 Athens, Greece. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Unless otherwise indicated, the present principal occupation of each person is with the applicable Reporting Person.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The business address of the Trust is Level 3, 18 Stanley Street, Auckland 1010, New Zealand. The Trust is an irrevocable trust established under the laws of New Zealand under an agreement dated March 12, 2015 for the benefit of certain family members of Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Issuer. The New Zealand Trust Corporation Limited is the trustee (the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Trustee</u></font>") of the Trust.&#160; The Trust may be deemed to own all of the outstanding shares of the Holding Companies.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Family Trading is a corporation established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company. Dimosthenis Eleftheriadis is the President, Treasurer and Director of Family Trading and Stylianos Giamanis is the Vice President and Secretary of Family Trading. Mr. Eleftheriadis is a citizen of Greece and Mr. Giamanis is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Sovereign is a corporation established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company. Annita Hadjipaschali is the President and Director of Sovereign, Stylianos Giamanis is the Vice President and Director of Sovereign and Pinelopi Platsouka is the Secretary, Treasurer and Director of Sovereign. Ms. Hadjipaschali is a citizen of Greece, Mr. Giamanis is a citizen of Greece and Ms. Platsouka is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Epsilon is a corporation established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company.&#160; Dimosthenis Eleftheriadis is the President, Treasurer and Director of Epsilon and Pinelopi Platsouka is the Vice President, Secretary and Director of Epsilon.&#160; Mr. Eleftheriadis is a citizen of Greece and Ms. Platsouka is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Oscar is a company established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company.&#160; Stylianos Giamanis is the President, Treasurer and Director of Oscar and Pinelopi Platsouka is the Vice President, Secretary and Director of Oscar. Mr. Giamanis is a citizen of Greece and Ms. Platsouka is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Race Navigation is a corporation established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company.&#160; Stylianos Giamanis is the President, Treasurer and Director of Race Navigation and Dimosthenis Eleftheriadis is the Vice President, Secretary and Director of Race Navigation. Mr. Giamanis is a citizen of Greece and Mr. Eleftheriadis is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Tankers Family is a corporation established under the laws of the Marshall Islands. Its principal business is acting as an investment holding company.&#160; Stylianos Giamanis is the President, Treasurer and Director of Tankers Family and Dimosthenis Eleftheriadis is the Vice President, Secretary and Director of Tankers Family. Mr. Giamanis is a citizen of Greece and Mr. Eleftheriadis is a citizen of Greece.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(d. and e.) To the best of the Reporting Persons' knowledge, none of the persons listed in Item 2, including the Trustee, have, during the last five years been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Source and Amount of Funds or Other Consideration.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">This Amendment No. 37 is being filed to reflect an adjustment in the number of Common Shares issuable to Race Navigation in connection with adjustments to the exercise price of the Issuer's outstanding warrants (the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Warrants</u></font>"). Pursuant to the terms of the Warrants <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">and warrant agreements dated June 11, 2014 (each, a "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Warrant Agreement</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") and in connection with sales completed under the common stock purchase agreement dated December 11, 2017 between the Issuer and Crede CG III, Ltd. (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Second Purchase Agreement</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), the Exercise Price (as defined in the Warrant Agreement) of the Warrants has been adjusted to $0.21 and the number of common shares of the Company purchasable by each Warrant is 11.87 Warrant Shares (as defined in the Warrant Agreement). Also, the issuance of the Issuer's Series C Convertible Preferred Shares constitutes an issuance of Variable Price Securities (as defined in the Warrant Agreement) and that, pursuant to Section 2(d) of the Warrant Agreement, each holder shall have the right, but not the obligation, to, in any exercise of Warrants, adopt the Variable Price (as defined in the Warrant Agreement) at which the Series C Convertible Preferred Shares are convertible as the Exercise Price of the Warrants.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Pursuant to the Variable Price feature described above, as of January 24, 2018, upon exercise of 1,250,000 Warrants, Race Navigation would be issued </font>14,837,500<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> Common Shares.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">This Amendment No. 37 is further being filed to reflect an increase in the number of outstanding Common Shares following the issuance of an additional 39,159,146 Common Shares from <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">December 21</font>, 2017 through January 24, 2018 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">as a result of (i)&#160; </font>request notices submitted in connection with <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">the Second Purchase Agreement and (ii) shares issued as a commitment fee to Crede CG III, Ltd. as consideration for entering into the Second Purchase Agreement.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Purpose of Transaction</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">The information set forth in Item 3 of this Amendment No. 37 is hereby incorporated herein by reference.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Other than as set forth above, there are no other material changes to this Item 4 from the Schedule 13D/A filed with the Commission on<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> December 21, 2017.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Interest in Securities of the Issuer.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Item 5 is hereby amended and restated in its entirety to read as follows:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(a. and b.) According to information received from the Issuer, as of January 24, 2018, there were 117,236,175 Common Shares issued and outstanding. Based on the foregoing, the Reporting Persons report beneficial ownership of the following Common Shares:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Family Trading may be deemed to beneficially own 118 Common Shares, representing less than 0.1% of the outstanding Common Shares. Family Trading has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 118 Common Shares. Family Trading has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 118 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Sovereign may be deemed to beneficially own 27 Common Shares, representing less than 0.1% of the outstanding Common Shares. Sovereign has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 27 Common Shares. Sovereign has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 27 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Epsilon may be deemed to beneficially own 12 Common Shares, representing less than 0.1% of the outstanding Common Shares. Epsilon has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 12 Common Shares. Epsilon has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 12 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Oscar may be deemed to beneficially own 8 Common Shares, representing less than 0.1% of the outstanding Common Shares. Oscar has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 8 Common Shares. Oscar has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 8 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Race Navigation may be deemed to beneficially own 14,837,514 Common Shares, representing approximately 11.2% of the outstanding Common Shares. This percentage ownership is based on 132,073,675 Common Shares outstanding, which is calculated for this Schedule 13D/A purposes by taking the sum of (i) 117,236,175 Common Shares outstanding and (ii) 14,837,500 Common Shares issuable upon the exercise of all of the 1,250,000 Warrants currently held by Race Navigation. Race Navigation has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 14,837,514 Common Shares.&#160; Race Navigation has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 14,837,514 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Tankers Family may be deemed to beneficially own 10 Common Shares, representing less than 0.1% of the outstanding Common Shares. Tankers Family has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 10 Common Shares. Tankers Family has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 10 Common Shares. Tankers Family also beneficially owns<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> 100,000 shares of Series D Preferred Stock</font>. One share of Series D Preferred Stock has the voting power of 1,000 Common Shares. See Item 6.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The Trust may be deemed to beneficially own 14,837,691 Common Shares, representing approximately 11.2% of the outstanding Common Shares. This percentage ownership is based on 132,073,675 Common Shares outstanding, which is calculated for this Schedule 13D/A purposes by taking the sum of (i) 117,236,175 Common Shares outstanding and (ii) 14,837,500 Common Shares issuable upon the exercise of all of the 1,250,000 Warrants currently held by Race Navigation. The Trustee of the Trust has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 14,837,691 Common Shares. The Trustee of the Trust has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition 14,837,691 Common Shares.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">To the best knowledge of the Reporting Persons, none of the other persons named in response to Item 2 have the sole power to vote or to direct the vote, the shared power to vote or direct the vote, the sole power to dispose or to direct the disposition of the Common Shares that are the subject of the Schedule 13D/A and this Amendment No. 37. Voting and disposition of the Common Shares held by the Reporting Persons require the approval of the Trustee of the Trust.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(c.) Except for those transactions described herein (see Items 3 and 6), to the best knowledge of the Reporting Persons, no other transactions in the Common Shares were effected by the persons enumerated in response to paragraph (a) during the past 60 days.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(d.) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Common Shares beneficially owned by the Reporting Persons.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(e.) Not applicable.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">The information set forth in Item 3 of this Amendment No. 37 is hereby incorporated herein by reference.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Amended Family Trading Credit Facility</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">The Issuer previously entered into an agreement with Family Trading pursuant to which Family Trading lent the Issuer up to $15.0 million under an unsecured revolving credit facility (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Family Trading Credit Facility</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") in order to fund the Issuer's </font>newbuilding<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> program and working capital relating to its operating vessels. The Family Trading Credit Facility was due to be repaid December 31, 2016 but the maturity was extended until February 28, 2017.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">On February 21, 2017, the Issuer amended and restated the Family Trading Credit Facility (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Amended Family Trading Credit Facility</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">") in order to, among other things, remove any limitation in the use of funds drawn down under the facility, reduce the mandatory cash payment due under the facility when the Issuer raises capital through the issuance of certain securities, remove the revolving feature of the facility, and extend the facility for up to three years. </font>Further<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, under the terms of the Amended Family Trading Credit Facility, if the Issuer raises capital via the issuance of warrants, debt or equity, it is obliged to repay any amounts due under the Amended Family Trading Credit Facility and any accrued interest and fees up to the time of the issuance in cash or in Common Shares at Family Trading's option. Family Trading </font>retains<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> the right to delay this mandatory repayment at its absolute discretion. For the first six months after the execution of the facility, no more than $3.5 million can be mandatorily prepaid in cash. Subject to certain adjustments pursuant to the terms of the Amended Family Trading Credit Facility, the number of common shares to be issued as repayment of the amounts outstanding under the facility will be calculated by dividing the amount redeemed by 80% of the lowest daily volume weighted average price of the common shares on the Nasdaq Capital Market during the twenty consecutive trading days ending on the trading day prior to the payment date (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Applicable Price</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"), provided, however, that at no time shall the Applicable Price be lower than $0.60 per common share (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Floor Price</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">").</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Further, in the case where the Issuer raises capital (whether publicly or privately) and the Applicable Price is higher than the lowest of (henceforth the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"><u>Issuance Price</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">"):</font></div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">a.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">the price per share issued upon an equity offering of the Issuer;</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">b.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">the exercise price of warrants or options for Common Shares;</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">c.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">the conversion price of any convertible security into Common Shares; or</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 27pt; VERTICAL-ALIGN: top; align: right">d.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">the implied exchange price of the Common Shares pursuant to an asset to equity or liability to equity swap,</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">then the Applicable Price will be reduced to the Issuance Price. Finally, in case the Applicable Price is higher than the exercise price of the Warrants, the Applicable Price will be reduced to the exercise price of such outstanding Warrants.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">As of January 24, 2017, there are no amounts outstanding under the Amended Family Trading Credit Facility.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Series D Preferred Stock</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">On April 21, 2017, the Issuer was informed by one of its senior lenders, ABN Amro Bank N.V. ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>ABN Amro</u></font>"), that the Issuer was in breach of a loan covenant that requires that any member of the family of Mr. Evangelos Pistiolis, the Issuer's President, Chairman and Chief Executive Officer, maintain an ownership interest (either directly and/or indirectly through companies beneficially owned by any member of the Pistiolis family and/or trusts or foundations of which any member of the Pistiolis family are beneficiaries) of 30% of the outstanding Common Shares. ABN Amro requested that either the family of Mr. Evangelos Pistiolis maintain an ownership interest of at least 30% of the outstanding Common Shares or maintain a voting rights interest of above 50% in the Company. In order to regain compliance with the loan covenant, on April 27, 2017, the Issuer's board of directors authorized the Company to create a new class of non-convertible preferred stock with voting power of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">one thousand (1,000) Common Shares per preferred share </font>and grant 100,000 of these preferred shares to the Pistiolis family.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">On May 8, 2017, the Issuer <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">issued 100,000 shares of Series D Preferred Stock</font> to Tankers Family. One share of Series D Preferred Stock has the voting power of 1,000 Common Shares. Shares of the Series D Preferred Stock are not convertible into Common Shares and have no dividend or other economic rights.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">To the best of the Reporting Persons' knowledge and except as described in this Amendment No. 37, there are no other materials changes to this Item 6 from the Schedule 13D/A filed with the Commission <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">on</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">December 21</font>, 2017.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Material to be Filed as Exhibits.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Exhibit A</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Joint Filing Undertaking.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Exhibit B</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Amended Family Trading Credit Facility <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(incorporated by reference to the Reporting Persons' Schedule 13D/A filed with the Commission on March 1, 2017).</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Exhibit C</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Form of Warrant Agreement (i<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">ncorporated by reference to the Issuer's Post-Effective Amendment No. 1 to the Registration Statement on Form F-1, filed with the Commission on May 9, 2016 (File No. 333-194690)).</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Exhibit D</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Statement of Designations of Series D Preferred Shares (i<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">ncorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on May 8, 2017).</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURE</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dated: January 24, 2018</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">FAMILY TRADING INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Dimosthenis Eleftheriadis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">President/Director</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">SOVEREIGN HOLDINGS INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Annita Hadjipaschali</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Annita Hadjipaschali</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">President / Director</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Pinelopi Platsouka</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pinelopi Platsouka</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">EPSILON HOLDINGS INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Dimosthenis Eleftheriadis</div>
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<td style="WIDTH: 56.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">RACE NAVIGATION INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Stylianos Giamanis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Stylianos Giamanis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Title:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">President/Treasurer/Director</div>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 29.04%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">TANKERS FAMILY INC.</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<td style="WIDTH: 29.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Dimosthenis Eleftheriadis</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 56.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<td style="WIDTH: 29.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 56.36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Title:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Vice President / Secretary</div>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">THE LAX TRUST</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee</div>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Karen Marshall</div>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<td style="WIDTH: 29.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Karen Marshall</div>
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<td style="WIDTH: 6.65%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Title:</div>
</td>
<td style="WIDTH: 29.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Director</div>
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</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">EXHIBIT A</div>

<div style="BACKGROUND-COLOR: #ffffff"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff">JOINT FILING UNDERTAKING</div>

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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">The undersigned, being duly authorized thereunto, hereby executes this agreement as an exhibit to this Schedule 13D/A with respect to the shares of common stock of TOP Ships Inc. to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, as amended, to file this Schedule 13D/A, and any amendments hereto, jointly on behalf of each such party.</div>

<div style="BACKGROUND-COLOR: #ffffff"><br>
</div>

<table id="z1be0f2e9da894cefa354d69e65a3eb7e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dated: January 24, 2018</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">FAMILY TRADING INC.</div>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Dimosthenis Eleftheriadis</div>
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</tr>

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<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Title:</div>
</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">President / Director</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
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<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">SOVEREIGN HOLDINGS INC.</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Annita Hadjipaschali</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

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<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Annita Hadjipaschali</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

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<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Title:</div>
</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">President / Director</div>
</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Pinelopi Platsouka</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Dimosthenis Eleftheriadis</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">RACE NAVIGATION INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Stylianos Giamanis</div>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dimosthenis Eleftheriadis</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Vice President / Secretary</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">THE LAX TRUST</div>
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<td style="WIDTH: 35.82%; VERTICAL-ALIGN: top" colspan="2">&#160;</td>
<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Karen Marshall</div>
</td>
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<tr>
<td style="WIDTH: 56.22%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Name:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Karen Marshall</div>
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<td style="WIDTH: 7.96%; VERTICAL-ALIGN: top">&#160;</td>
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<tr>
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<td style="WIDTH: 5.78%; VERTICAL-ALIGN: top">
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<td style="WIDTH: 30.04%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Director</div>
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