<SEC-DOCUMENT>0000919574-20-002613.txt : 20200330
<SEC-HEADER>0000919574-20-002613.hdr.sgml : 20200330
<ACCEPTANCE-DATETIME>20200327184140
ACCESSION NUMBER:		0000919574-20-002613
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200330
DATE AS OF CHANGE:		20200327

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:		20753333

	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:			Family Trading Inc.
		CENTRAL INDEX KEY:			0001786648
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		11 KANARI STREET
		CITY:			ATHENS
		STATE:			J3
		ZIP:			106 71
		BUSINESS PHONE:		011 (30) 210 364 003

	MAIL ADDRESS:	
		STREET 1:		11 KANARI STREET
		CITY:			ATHENS
		STATE:			J3
		ZIP:			106 71
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d8503069_13d-a.htm
<TEXT>
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         Copyright 1995 - 2020 Broadridge -->
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  <div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">WASHINGTON, DC 20549</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">SCHEDULE 13D/A</div>
    <div style="text-align: center; font-size: 12pt;">Under the Securities Exchange Act of 1934</div>
    <div style="text-align: center; font-size: 12pt;">(Amendment No. 59)*</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd1d878d83cc548d49e4c794132c2c9d9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">TOP SHIPS INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Name of Issuer)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;">Common Stock, par value $0.01 per share</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Title of Class of Securities)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;">Y8897Y164</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(CUSIP Number)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;">Dimosthenis Eleftheriadis</div>
            <div style="text-align: center;">11 Kanari Street</div>
            <div style="text-align: center;">106 71 Athens, Greece</div>
            <div style="text-align: center;">011 (30) 210 364 0030</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Name, Address and Telephone Number of Person Authorized to Receive</div>
            <div style="text-align: center;">Notices and Communications)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;">March 26, 2020</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Date of Event Which Requires Filing of This Statement)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z978474c6a250483e97fd38c8ea466d72" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="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 &#9744;.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="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>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: justify;">* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of
              securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="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>
          </td>
        </tr>

    </table>
    <div style="margin-top: 10pt; margin-bottom: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
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    <table cellspacing="0" cellpadding="0" id="zd3d6701445c24e2586edb52b39654cf0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10.92%; vertical-align: top;">
            <div>CUSIP No.</div>
          </td>
          <td style="width: 18.72%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 18.72%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>Y8897Y164</div>
          </td>
          <td style="width: 43.64%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd4b5ebe9da634827b5c5f726911ff8ed" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>1.</div>
          </td>
          <td style="width: 81.26%; vertical-align: top;">
            <div>NAME OF REPORTING PERSONS</div>
            <div>&#160;</div>
            <div>Family Trading Inc.</div>
          </td>
          <td style="width: 10.62%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z71925e229c9844059c31beb1924558eb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>2.</div>
          </td>
          <td style="width: 91.88%; vertical-align: top;" colspan="3">
            <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[X]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>3.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SEC USE ONLY</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9ac4e92cd07843809fcdbd8aba5ff606" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>4.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOURCE OF FUNDS</div>
            <div>&#160;</div>
            <div>OO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z5101a96304ec4c7a9e3b100de658cbb4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>5.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</div>
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div style="text-align: center;">[_]</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf9db073743194b039cd93cb465616c2e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>6.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            <div>&#160;</div>
            <div>Republic of the Marshall Islands</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb7acc011a4f64ed3af41a41e3caf82a9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9dfbb26d7b224de892fffef6773b41fc" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>7.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE VOTING POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2d4f99af6b7f46aca3d04039cd8b5981" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>8.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED VOTING POWER</div>
            <div>&#160;</div>
            <div>17,274,140 <font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf3bece2f4d694a59884b43fd4216af37" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>9.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE DISPOSITIVE POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2eba8b5413bd409e8b82625d55b95525" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>10.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED DISPOSITIVE POWER</div>
            <div>&#160;</div>
            <div>17,274,140 <font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z0edaf8e8ccd1476eb7f81ead3dcb2d36" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>11.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            <div>&#160;</div>
            <div>17,274,140 <font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zbc3bca168e5740c08e6fe53be97c6560" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>12.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div style="text-align: center;">[_]</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zbf108dd001864baf9ec73827dca41857" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>13.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
            <div>&#160;</div>
            <div>21.8%<font style="font-size: 8pt;">(2)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>14.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>TYPE OF REPORTING PERSON</div>
            <div>&#160;</div>
            <div>CO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 8pt;">____________________</div>
    <div style="text-align: justify;">(1) Represents 17,274,140 Common Shares issuable upon the conversion of 10,364 Series E Perpetual Convertible Preferred Stock (the &#8220;Series E Preferred
      Shares&#8221;) held by Family Trading Inc. (discussed in Item 6 below).</div>
    <div><br>
    </div>
    <div>(2) See Item 5(a)</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze0c32ee77e0c4d56856d9676533d29a2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 17.3%; vertical-align: top;">
            <div>CUSIP No.</div>
          </td>
          <td style="width: 18.92%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>Y8897Y164</div>
          </td>
          <td style="width: 53.88%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 9.9%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z16e6fe1ae9704eaa832ee52cfd3a5b9a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>1.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>NAME OF REPORTING PERSONS</div>
            <div>&#160;</div>
            <div>Tankers Family Inc.</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc8debeb0f63a45b2a74b7905adbc7224" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>2.</div>
          </td>
          <td style="width: 91.88%; vertical-align: top;" colspan="3">
            <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[X]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>3.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SEC USE ONLY</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb3625f50de714f77a7db85d0d084f442" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>4.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOURCE OF FUNDS</div>
            <div>&#160;</div>
            <div>OO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze5e5cf5d487a4a678d8b24026f1f74e7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>5.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>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;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: bottom;">
            <div>[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zde40588cf5184656a06454ac5d83209a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>6.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            <div>&#160;</div>
            <div>Republic of the Marshall Islands</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc0a0d5bbe1b64bfa87716257eca8b80f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z12b27a27aaeb46489fa4a47f9c68eafe" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>7.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE VOTING POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb3939b3fc4a24d0fb6bbc89a1c6b5792" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>8.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED VOTING POWER</div>
            <div>&#160;</div>
            <div>0<font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z066ab6dd77b64a17bbc17503a8ae258c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>9.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE DISPOSITIVE POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z50b13ce8fb53460e80ac220d5ffa9ef0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>10.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED DISPOSITIVE POWER</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>0<font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z64d42f1287734d86aa0a140d2e256697" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>11.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            <div>&#160;</div>
            <div>0<font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zcf574815577b41cb8905a7672dbeb90c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>12.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div style="text-align: center;">&#160;[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z0f8d90f7a1ab44ab98d44b092ad36fea" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>13.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
            <div>&#160;</div>
            <div>Less than 0.1%<font style="font-size: 8pt;">(2)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z445e51200eb843928e08bbfa6c628371" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>14.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>TYPE OF REPORTING PERSON</div>
            <div>&#160;</div>
            <div>CO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div>____________________</div>
    <div style="margin-bottom: 6pt;">&#160;(1) On May 8, 2017, the Issuer (defined below) <font style="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 style="margin-bottom: 6pt;">(2) See Item 5(a).</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z04a0a4cdf95d4d61896f7d4bc1c5688e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 13.4%; vertical-align: top;">
            <div>CUSIP No.</div>
          </td>
          <td style="width: 23.5%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>Y8897Y164</div>
          </td>
          <td style="width: 53.68%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 9.42%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z33a71c05d0d04610a1e2369ceb5ca19a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>1.</div>
          </td>
          <td style="width: 81.26%; vertical-align: top;">
            <div>NAME OF REPORTING PERSONS</div>
            <div>&#160;</div>
            <div>The Lax Trust</div>
          </td>
          <td style="width: 10.62%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6f94f8915c9e4dde84a4d8795b7db97a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>2.</div>
          </td>
          <td style="width: 91.88%; vertical-align: top;" colspan="3">
            <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[X]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>[_]</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9c5484d3660e4f979bfde1051b70b0f4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>3.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SEC USE ONLY</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6fcb83336c3c4d56a7f6a945dd2be351" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>4.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOURCE OF FUNDS</div>
            <div>&#160;</div>
            <div>OO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z94ca6dfc58ae44de94ad14796afd1692" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>5.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>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;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: bottom;">
            <div>[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z8314757e9be5410d801ab9d26bf36c83" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>6.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            <div>&#160;</div>
            <div>New Zealand</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zda6aa5601e9e4a5b8849f19f082a1fce" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb3fa4d657af0421695db3120d8af5ea9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>7.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE VOTING POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3d6c89a2ea60493cb1c1af66fe6875cb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>8.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED VOTING POWER</div>
            <div>&#160;</div>
            <div><font style="background-color: #FFFFFF;">17,274,140 </font><font style="font-size: 8pt;">(1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd3d988b1bda54c338ebed7b4d3bbca4a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>9.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SOLE DISPOSITIVE POWER</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z5976ccae393a4150860cbb5349df8c36" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>10.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>SHARED DISPOSITIVE POWER</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5.3%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div><font style="background-color: #FFFFFF;">17,274,140</font><font style="font-size: 8pt;"> (1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z437cf911a3064c3495be891310fa6542" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>11.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            <div>&#160;</div>
            <div><font style="background-color: #FFFFFF;">17,274,140</font><font style="font-size: 8pt;"> (1)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6ef227f5000e41089fa6f45862731281" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>12.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div style="text-align: center;">&#160;[_]</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z1cacc4cefb134d1e9e157279ec977a08" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>13.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
            <div>&#160;</div>
            <div>21.8%<font style="font-size: 8pt;">(2)</font></div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z35832c3151d0420a8a809eaafc82610e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8.12%; vertical-align: top;">
            <div>14.</div>
          </td>
          <td style="width: 81.28%; vertical-align: top;">
            <div>TYPE OF REPORTING PERSON</div>
            <div>&#160;</div>
            <div>OO</div>
          </td>
          <td style="width: 10.6%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div>____________________</div>
    <div>(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. and Tankers Family Inc., each a Marshall Islands corporation (collectively, the "<u>Holding
          Companies</u>") 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>
    <div><br>
    </div>
    <div>(2) See Item 5(a).</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify;">This Amendment No. 59 (this "<u>Amendment No. 59</u>") <font style="background-color: #FFFFFF;">amends and supplements the Schedule 13D/A (the "</font><u>Schedule 13D/A</u><font style="background-color: #FFFFFF;">") filed with the U.S. Securities and Exchange Commission (the "</font><u>Commission</u><font style="background-color: #FFFFFF;">") by Family Trading Inc. ("</font><u>Family Trading</u><font style="background-color: #FFFFFF;">"), Tankers Family Inc. ("</font><u>Tankers Family</u><font style="background-color: #FFFFFF;">"), and the Lax Trust (the "</font><u>Trust</u><font style="background-color: #FFFFFF;">") on March 20, 2020. This Amendment No. 59 is being filed on behalf of Family Trading, Tankers Family and the Trust (collectively, the &#8220;</font><u>Reporting Persons</u><font style="background-color: #FFFFFF;">&#8221;).</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;">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="background-color: #FFFFFF;">on March 20, 2020</font>.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z77705ad9ace642b48e94493b3bcd8a94" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 1.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Security and Issuer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="background-color: #FFFFFF;">This Amendment No. 59 is being filed with respect
        to the </font>outstanding shares of common stock, par value $0.01 per share (the "<u>Common Shares</u>") of TOP Ships Inc., a corporation incorporated in the
      Marshall Islands (the "<u>Issuer</u>")<font style="background-color: #FFFFFF;">.</font></div>
    <div><br>
    </div>
    <div>The address of the principal executive offices of the Issuer is:</div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">1 Vasilisis Sofias and Megalou Alexandrou Str</div>
      <div style="text-align: justify;">15124 Maroussi</div>
      <div style="text-align: justify;">Greece</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2b273faabe3f4070838940f5ed114bc3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 2.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Identity and Background.</div>
          </td>
        </tr>

    </table>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="text-align: justify;"><font style="background-color: #FFFFFF;">(a, b, c and f.) This Amendment No. 59 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="background-color: #FFFFFF;">Unless otherwise indicated, the present principal occupation of each person is with the applicable Reporting Person.</font></div>
    <div><br>
    </div>
    <div style="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
      "<u>Trustee</u>") of the Trust. The Trust may be deemed to own all of the outstanding shares of the Holding Companies.</div>
    <div><br>
    </div>
    <div style="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>
    <div><br>
    </div>
    <div style="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.
      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>
    <div><br>
    </div>
    <div style="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>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6aae574af30f4dd1a323aa636a9a7eae" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 3.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Source and Amount of Funds or Other Consideration.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">This Amendment No. 59 is being filed to reflect the issuance of 29,340,830 common shares by the Issuer from March 19, 2020 through March 26, 2020 as a
      result of sales completed under the equity distribution agreement dated March 11, 2020 between the Issuer and Maxim Group LLC (the "ATM") and the redemption of 5,640 Series E Preferred Shares.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">More information relating to the Series E Preferred Shares can be found under Item 6.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z875e2b27157f49a1a7278a263a75a613" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 4.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Purpose of Transaction</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">The information set forth in Item 3 of this Amendment No. 59 is hereby incorporated herein by reference.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">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="background-color: #FFFFFF;"> March 20, 2020.</font></div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd2bd7b08cd134e619683222473b13481" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 5.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Interest in Securities of the Issuer.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Item 5 is hereby amended and restated in its entirety to read as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(a. and b.) According to information received from the Issuer, as of March 26, 2020, there were 61,872,067 Common Shares issued and outstanding. Based on
      the foregoing, the Reporting Persons report beneficial ownership of the following Common Shares:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Family Trading may be deemed to beneficially own 17,274,140 Common Shares, representing approximately 21.8% of the outstanding Common Shares. This
      percentage ownership is based on 79,146,207 Common Shares outstanding, which is calculated for this Schedule 13D/A purposes by taking the sum of (i)&#160;61,872,067 Common Shares issued and outstanding and (ii) 17,274,140 Common Shares issuable upon the
      conversion of 10,364 Series E Preferred Shares held by Family Trading. Family Trading has the sole power to vote or direct the vote of 0&#160;Common Shares and the shared power to vote or direct the vote of 17,274,140&#160;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 17,274,140 Common Shares.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Tankers Family beneficially owns<font style="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&#160;Common Shares. See Item 6.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Trust may be deemed to beneficially own 17,274,140 Common Shares, representing approximately 21.8% of the outstanding Common Shares. This percentage
      ownership is based on 79,146,207 Common Shares outstanding, which is calculated for this Schedule 13D/A purposes by taking the sum of (i) 61,872,067 Common Shares issued and outstanding and (ii) 17,274,140 Common Shares issuable upon the conversion
      of 10,364 Series E Preferred Shares held by Family Trading. 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 17,274,140 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 of 17,274,140 Common Shares.</div>
    <div><br>
    </div>
    <div style="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. 59. Voting and disposition of the Common Shares held by the
      Reporting Persons require the approval of the Trustee of the Trust.</div>
    <div><br>
    </div>
    <div style="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>
    <div><br>
    </div>
    <div style="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>
    <div><br>
    </div>
    <div style="text-align: justify;">(e.) Not applicable.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z811651b283ef465ab889378e87b6a1a1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 6.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">The information set forth in Item 3 of this Amendment No. 59 is hereby incorporated herein by reference.</div>
    </div>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="font-style: italic;">Series E Perpetual Convertible Preferred Stock</div>
      <div><br>
      </div>
      <div>On March 29, 2019, the Issuer entered into the Stock Purchase Agreement with Family Trading for the sale of 27,129 newly issued Series E Preferred Shares at
        a price of $1,000 per share. The proceeds of the sale were used for the full and final settlement of all amounts due under the Amended and Restated Credit Facility dated September 26, 2017 between Family Trading and the Issuer.</div>
      <div><br>
      </div>
      <div>The following description of the Series E Preferred Shares is subject to and qualified in its entirety by reference to the Statement of Designations (the "<u>Statement of Designations</u>") of the Series E Preferred Shares, including, without limitation, section 9 of the Statement of Designation relating to certain
        adjustments to the Series E Preferred Shares conversion price. Copies of the Stock Purchase Agreement and Statement of Designations have been incorporated by reference into this report as Exhibits I and J, respectively.</div>
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">The Series E Preferred Shares have the following characteristics:</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Conversion.</font> Each holder of Series E Preferred
        Shares, at any time and from time to time, has the right, subject to certain conditions, to convert all or any portion of the Series E Preferred Shares then held by such holder into the Issuer&#8217;s Common Shares at the conversion rate then in effect.
        Each Series E Preferred Share is convertible into the number of the Issuer&#8217;s Common Shares equal to the quotient of $1,000 plus any accrued and unpaid dividends divided by the lesser of the following four prices (the &#8220;<u>Series E Conversion Price</u>&#8221;): (i) $1.00, (ii) 80% of the lowest daily VWAP of the Issuer's Common Shares over the twenty consecutive trading days expiring on the trading day immediately
        prior to the date of delivery of a conversion notice, (iii) the conversion price or exercise price per share of any of the Issuer&#8217;s then outstanding convertible shares or warrants, (iv) the lowest issuance price of the Issuer&#8217;s Common Shares in any
        transaction from the date of the issuance the Series E Perpetual Preferred Stock onwards, but in no event will the Series E Conversion Price be less than $0.60.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Limitations of Conversion.</font> Holders of the shares
        of Series E Preferred Shares shall be entitled to convert the Series E Preferred Shares in full, regardless of the beneficial ownership percentage of the holder after giving effect to such conversion.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Voting.</font>&#160; The holders of each Series E Preferred
        Share are entitled to the voting power of one thousand (1,000) Common Shares of the Issuer.&#160; The holders of Series E Preferred Shares and the holders of the Issuer&#8217;s Common Shares shall vote together as one class on all matters submitted to a vote
        of shareholders of the Issuer. The holders of Series E Preferred Shares have no special voting rights and their consent shall not be required for taking any corporate action.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Distributions.</font> Upon any liquidation, dissolution
        or winding up of the Issuer, the holders of Series E Preferred Shares shall be entitled to receive the net assets of the Issuer pari passu with the Common Shares.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Redemption.</font>&#160; The Issuer at its option shall have
        the right to redeem a portion or all of the outstanding Series E Preferred Shares. The Issuer shall pay an amount equal to one thousand dollars ($1,000) per each Series E Preferred Share (the &#8220;<u>Liquidation Amount</u>&#8221;), plus a redemption premium equal to fifteen percent (15%) of the Liquidation Amount being redeemed if that redemption takes place up to and including March 29, 2020 and twenty percent
        (20%) of the Liquidation Amount being redeemed if that redemption takes place after March 29, 2020, plus an amount equal to any accrued and unpaid dividends on such Preferred Shares (collectively referred to as the "<u>Redemption Amount</u>"). In order to make a redemption, the Issuer shall first provide one business day advanced written notice to the holders of his intention to make a redemption (the &#8220;<u>Redemption Notice</u>&#8221;), setting forth the amount it desires to redeem. After receipt of the Redemption Notice, the holders shall have the right to elect to convert
        all or any portion of its Series E Preferred Shares. Upon the expiration of the one business day period, the Issuer shall deliver to each holder the Redemption Amount with respect to the amount redeemed after giving effect to conversions effected
        during the notice period. The Series E Preferred Shares shall not be subject to redemption in cash at the option of the holders thereof under any circumstance.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Dividends.</font> The holders of outstanding Series E
        Preferred Shares shall be entitled to receive out of funds legally available for the purpose, semi-annual dividends payable in cash on the last day of June and December in each year (each such date being referred to herein as a "<u>Semi Annual Dividend Payment Date</u>"), commencing on the first Semi Annual Dividend Payment Date in an amount per share (rounded to the nearest cent) equal to
        fifteen percent (15%) per year of the liquidation amount of the then outstanding Series E Preferred Shares computed on the basis of a 365-day year and the actual days elapsed. Accrued but unpaid dividends shall bear interest at fifteen percent
        (15%). Dividends paid on the Series E Preferred Shares in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share basis among all such shares at the time
        outstanding. The Issuer&#8217;s Board of Directors may fix a record date for the determination of holders of Series E Preferred Shares entitled to receive payment of a dividend or distribution declared thereon, which record date shall be no more than 30
        days prior to the date fixed for the payment thereof. Dividends will not be payable in cash, if such payment violates any provision of any senior secured facility that the Issuer has entered or (as the case may be) will enter into, or any senior
        secured facility for which the Issuer has provided or (as the case may be) will provide a guarantee, for as long as such provisions, if any, remain in effect.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;"><font style="font-weight: bold;">Ranking.</font> All Series E Preferred Shares shall rank
        pari passu with all classes of the Issuer&#8217;s Common Shares.</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">As of March 26, 2020, upon conversion at the Series E Conversion Price ($0.60) of 10,364 Series E Preferred Shares currently outstanding, Family Trading
        would receive 17,274,140 Common Shares.</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic;">Series D Preferred Stock</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On April 21, 2017, the Issuer was informed by one of its senior lenders, ABN Amro Bank N.V. ("<u>ABN Amro</u>"), 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 Issuer. In order to regain
      compliance with the loan covenant, on April 27, 2017, the Issuer's board of directors authorized the Issuer to create a new class of non-convertible preferred stock with voting power of one thousand (1,000) Common Shares per preferred share and grant
      100,000 of these preferred shares to the Pistiolis family. Currently the Issuer&#8217;s sale and leaseback agreements with Bank of Communications Financial Leasing Company, Oriental Fleet International Company Limited and China Merchants Bank Financial
      Leasing have similar provisions requiring Mr. Pistiolis to maintain an ownership interest in the Issuer that are satisfied with his holdings of the Series D Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On May 8, 2017, the Issuer <font style="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>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify;">To the best of the Reporting Persons' knowledge and except as described in this Amendment No. 59, there are no other material changes to this Item 6 from
        the Schedule 13D/A filed with the Commission <font style="background-color: #FFFFFF;">on</font>&#160;<font style="background-color: #FFFFFF;">March 20, 2020</font>.</div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z194a3191f7bc4c86b2bc4b92b73c0d73" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-weight: bold;">Item 7.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-weight: bold;">Material to be Filed as Exhibits.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zb3261e0e81064763a6e12f11fc07d219" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit A</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Joint Filing Undertaking.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit B</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Amended Family Trading Credit Facility <font style="background-color: #FFFFFF;">(incorporated
                by reference to the Reporting Persons' Schedule 13D/A filed with the Commission on March 1, 2017).</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z896a8b1d5b584e72be21b64d48c11a05" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit C</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: justify;">Form of Warrant Agreement (i<font style="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>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit D</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: justify;">Statement of Designations of Series D Preferred Shares (i<font style="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>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit E</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Addendum to the Amended Family Trading Credit Facility dated September 26, 2018 (incorporated by reference to the Issuer&#8217;s Current Report on Form 6-K,
              filed with the Commission on October 3,</div>
            <div>2018)<font style="background-color: #FFFFFF;">.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit F</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Addendum to the Amended Family Trading Credit Facility dated October 30, 2018<font style="background-color: #FFFFFF;">.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit G</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Addendum to the Amended Family Trading Credit Facility dated December 31, 2018<font style="background-color: #FFFFFF;">.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit H</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>Addendum to the Amended Family Trading Credit Facility dated January 22, 2019.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit I</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: justify;">Stock Purchase Agreement dated March 29, 2019 (i<font style="background-color: #FFFFFF;">ncorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on April 1, 2019).</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div>Exhibit J</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: justify;">Statement of Designations of Series E Perpetual Convertible Preferred Stock dated March 29, 2019 (i<font style="background-color: #FFFFFF;">ncorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on April 1, 2019).</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="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>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za5b80d1292634527a37e1f04438e5586" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>Dated: March 27, 2020</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">FAMILY TRADING INC.</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>/s/ Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>President/Director</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">TANKERS FAMILY INC.</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>/s/ Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>Vice President / Secretary</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">THE LAX TRUST</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div>NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35.68%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>/s/ Karen Marshall</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>Karen Marshall</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.65%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 29.04%; vertical-align: top;">
            <div>Director</div>
          </td>
          <td style="width: 7.96%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; font-weight: bold;">EXHIBIT A</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; font-weight: bold;">JOINT FILING UNDERTAKING</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: justify; 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>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="zbe17a2e99b5846ac8c5f0dc95792cb80" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>Dated: March 27, 2020</div>
          </td>
          <td style="width: 36.16%; vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">FAMILY TRADING INC.</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 36.16%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.28%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td style="width: 29.88%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>/s/ Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.28%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 29.88%; vertical-align: top;">
            <div>Dimosthenis Eleftheriadis</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.28%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 29.88%; vertical-align: top;">
            <div>President / Director</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 36.16%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 36.16%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 36.16%; vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">TANKERS FAMILY INC.</div>
          </td>
          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
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            <div>/s/ Dimosthenis Eleftheriadis</div>
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            <div>Dimosthenis Eleftheriadis</div>
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            <div>&#160;</div>
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            <div>Title:</div>
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            <div>&#160;</div>
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          <td style="width: 6.28%; vertical-align: top;">
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          <td style="width: 29.88%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 6.28%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 29.88%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
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            <div style="font-weight: bold;">THE LAX TRUST</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee</div>
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            <div>&#160;</div>
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            <div>By:</div>
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            <div>/s/ Karen Marshall</div>
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          <td style="width: 7.8%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 56.04%; vertical-align: top;">
            <div>&#160;</div>
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            <div>&#160;</div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
