<SUBMISSION>
<ACCESSION-NUMBER>0001398344-20-012308
<TYPE>SC 13G
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20200610
<DATE-OF-FILING-DATE-CHANGE>20200610
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>AMERITYRE CORP
<CIK>0000945828
<ASSIGNED-SIC>3011
<IRS-NUMBER>870535207
<STATE-OF-INCORPORATION>NV
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G
<ACT>34
<FILE-NUMBER>005-80486
<FILM-NUMBER>20954292
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1501 INDUSTRIAL ROAD
<CITY>BOULDER CITY
<STATE>NV
<ZIP>89005
<PHONE>7022931930
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1501 INDUSTRIAL ROAD
<CITY>BOULDER CITY
<STATE>NV
<ZIP>89005
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>AMERICAN TIRE CORP
<DATE-CHANGED>19951117
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>SHELTON CAPITAL MANAGEMENT
<CIK>0001002784
<IRS-NUMBER>942970569
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1875 LAWRENCE STREET
<STREET2>SUITE 300
<CITY>DENVER
<STATE>CO
<ZIP>80202-1805
<PHONE>8009559988
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1875 LAWRENCE STREET
<STREET2>SUITE 300
<CITY>DENVER
<STATE>CO
<ZIP>80202-1805
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CCM PARTNERS
<DATE-CHANGED>19951027
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>fp0054633_sc13g.htm
<TEXT>
<HTML>
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<BODY STYLE="font: 11pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">SCHEDULE 13G</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Under the Securities Exchange Act of 1934</P>

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

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; layout-grid-mode: line; text-align: center; width: 50%">Amerityre Corporation</TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-size: 11pt">(Name of Issuer)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; layout-grid-mode: line; text-align: center">Common Stock</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-size: 11pt">(Title of Class of Securities)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; layout-grid-mode: line; text-align: center">03073V107</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="margin: 0; padding: 0; font-size: 11pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-size: 11pt">(CUSIP
Number)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 11pt; layout-grid-mode: line; text-align: center">May 13, 2020</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; layout-grid-mode: line; text-align: center">(Date of Event Which Requires Filing of this
Statement)</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[X] Rule 13d-1(b)</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;&nbsp;&nbsp;] Rule 13d-1(c)</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;&nbsp;] Rule 13d-1(d)</P>

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

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

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

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

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CUSIP No. 03073V107</P>

<DIV STYLE="width: 100%">

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="BOTTOM">
    <TD STYLE="width: 5%"></TD>
    <TD STYLE="width: 85%"></TD>
    <TD STYLE="width: 10%"></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">NAME
OF REPORTING PERSONS</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shelton Core Value Fund</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)</FONT></P>
                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;&nbsp;]</FONT></P>
                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;&nbsp;]</FONT></P></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEC
                                         USE ONLY</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CITIZENSHIP
                                         OR PLACE OF ORGANIZATION</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Massachusetts</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="TOP">
    <TD ROWSPAN="4" STYLE="vertical-align: middle; text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif">NUMBER
    OF <BR>
SHARES <BR>
BENEFICIALLY <BR>
OWNED BY EACH<BR>
 REPORTING<BR>
 PERSON WITH</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; vertical-align: top; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">5</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid; width: 77%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SOLE
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">6</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARED
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">7</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SOLE
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">8</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARED
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">9</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 85%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">AGGREGATE
                                         AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000.00</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">10</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CHECK
                                         IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(SEE INSTRUCTIONS)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;]</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">11</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">PERCENT
                                         OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">29.02%</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">12</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">TYPE
                                         OF REPORTING PERSON (SEE INSTRUCTIONS)</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE></DIV>



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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CUSIP No. 03073V107</P>

<DIV STYLE="width: 100%">

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="BOTTOM">
    <TD STYLE="width: 5%"></TD>
    <TD STYLE="width: 85%"></TD>
    <TD STYLE="width: 10%"></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-top: Black 1pt solid; text-align: center; border-bottom: black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">NAME
OF REPORTING PERSONS</FONT></P>
                                                                                <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Shelton Capital Management</P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; text-align: center; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)</FONT></P>
                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;&nbsp;]</FONT></P>
                                                              <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;&nbsp;]</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEC
                                         USE ONLY</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CITIZENSHIP
                                         OR PLACE OF ORGANIZATION</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">California</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="TOP">
    <TD ROWSPAN="4" STYLE="border-bottom: black 1pt solid; vertical-align: middle; text-align: center; border-left: Black 1pt solid; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif">NUMBER
    OF <BR>
SHARES <BR>
BENEFICIALLY <BR>
OWNED BY EACH<BR>
 REPORTING<BR>
 PERSON WITH</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: top; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; width: 77%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SOLE
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000</FONT></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARED
                                         VOTING POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SOLE
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARED
                                         DISPOSITIVE POWER</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="4" BORDER="0" STYLE="width: 100%; font-size: 11pt">
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">9</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 85%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">AGGREGATE
                                         AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000,000.00</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">10</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">CHECK
                                         IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(SEE INSTRUCTIONS)&nbsp;&nbsp;&nbsp;&nbsp;[ &nbsp;]</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">11</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">PERCENT
                                         OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">29.02%</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">12</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">TYPE
                                         OF REPORTING PERSON (SEE INSTRUCTIONS)</FONT></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE></DIV>



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

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Preliminary Statement</U></B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This report covers Shelton Core Value Fund
(the &ldquo;Fund&rdquo;) and Shelton Capital Management (&ldquo;SCM&rdquo;) (each a &ldquo;filing person&rdquo;). SCM is a filing
person by virtue of fact that in its capacity as the investment adviser to the Fund, SCM makes voting and dispositive decisions
with respect to portfolio holdings of the Fund.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except for Item 3, the information contained
below is identical for each filing person unless otherwise provided. With respect to Item 3, the Fund selects (d) &ldquo;Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a 8),&rdquo; and SCM selects (e) &ldquo;An
investment adviser in accordance with &sect; 240.13d 1(b)(ii)(E).&rdquo;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 1.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Name of Issuer: Amerityre Corporation</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Address of Issuer&rsquo;s Principal Executive Offices: 1501 Industrial Road, Boulder City, Nevada
89005</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 2.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Name of Person Filing:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Shelton Core Value Fund</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Shelton Capital Management</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Address or principal business office or, if none, residence: 1875 Lawrence Street, Suite 300, Denver,
CO 80202</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Citizenship:</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Shelton Core Value Fund: Massachusetts</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Shelton Capital Management: California</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Title of Class of Securities: Common Stock</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">CUSIP No.: 03073V107</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 3.</B></TD><TD STYLE="text-align: justify">If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(c), check whether the person filing
is a:</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; layout-grid-mode: line; text-align: justify">(a)</TD>
    <TD STYLE="width: 5%; layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="width: 85%; layout-grid-mode: line">Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(b)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(c)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 5%">(d)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center; width: 5%">[X]</TD>
    <TD STYLE="layout-grid-mode: line; width: 85%">Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(e)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[X]</TD>
    <TD STYLE="layout-grid-mode: line">An investment adviser in accordance with &sect; 240.13d-1(b)(ii)(E).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(f)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">An employee benefit plan or endowment fund in accordance with &sect; 240.13d-1(b)(1)(ii)(F).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(g)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">A parent holding company or control person in accordance with &sect; 240.13d-1(b)(1)(ii)(G).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(h)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(i)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD STYLE="layout-grid-mode: line">A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(j)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">A non-U.S. institution in accordance with &sect; 240.13d-1(b)(1)(ii)(J)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">(k)</TD>
    <TD STYLE="layout-grid-mode: line; text-align: center">[&nbsp;&nbsp;&nbsp;]</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Group, in accordance with &sect; 240.13d-1(b)(1)(ii)(K)</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If filing as a non-U.S. institution in accordance
with &sect; 240.13d-1(b)(1)(ii)(J), please specify the type of institution:____________________.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45.35pt"><B>Item 4.</B></TD><TD STYLE="text-align: justify">Ownership</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount
Beneficially Owned: 20,000,000</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent
of Class: 29.02%</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number
of Shares as to which each reporting person has:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Sole power to vote or to direct the vote: 20,000,000</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Shared power to vote or to direct the vote: 0</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Sole power to dispose or to direct the disposition of: 20,000,000</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">Shared power to dispose or to direct the disposition of: 0</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 5.</B></TD><TD STYLE="text-align: justify">Ownership of Five Percent or Less of a Class:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: -45pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: 0pt">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify; text-indent: -45pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 45pt; text-align: justify">If this statement is being filed
to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent
of the class of securities, check the following. [&nbsp;&nbsp;&nbsp;]</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 6.</B></TD><TD STYLE="text-align: justify">Ownership of More than Five Percent on Behalf of Another Person:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify; text-indent: -86.55pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 7.</B></TD><TD STYLE="text-align: justify">Identification and Classification of the Subsidiary Which Acquired the Security Being Reported
on By the Parent Holding Company or Control Person:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify; text-indent: -86.55pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 8.</B></TD><TD STYLE="text-align: justify">Identification and Classification of Members of the Group:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify; text-indent: -86.55pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt"><B>Item 9.</B></TD><TD STYLE="text-align: justify">Notice of Dissolution of Group:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 86.55pt; text-align: justify; text-indent: -86.55pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 45pt; text-align: left"><B>Item 10.</B></TD><TD STYLE="text-align: justify">Certifications</TD>
</TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By signing below I certify that, to the best
of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and
were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose
or effect, other than activities solely in connection with a nomination under &sect; 240.14a-11.</P>

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

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

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">After reasonable inquiry and to the best of
my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; layout-grid-mode: line; text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 5%">Dated:</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 30%">June 10, 2020</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">Shelton Funds, on behalf of its series,</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">the Shelton Core Value Fund</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line">/s/ Gregory T. Pusch</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">By:</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Gregory T. Pusch</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Chief Compliance Officer</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">Shelton Capital Management</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line">/s/ Gregory T. Pusch </TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">By:</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Gregory T. Pusch</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Chief Compliance Officer</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
</TABLE>

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

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

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Joint Filing Agreement is made pursuant
to Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934, as amended (the &ldquo;Act&rdquo;) by and between the parties
listed below, each referred to herein as a &ldquo;Joint Filer.&rdquo; The Joint Filers agree that a statement of beneficial ownership
as required by Sections 13(g) or 13(d) of the Act and the Rules promulgated thereunder may be filed on each of their behalf on
Schedule 13G or 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers
further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. The Joint Filers state that they
each satisfy the requirements for making a joint filing under Rule 13d-1 and hereby, being duly authorized, have executed this
Joint Filing Agreement as of June 10, 2020.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; layout-grid-mode: line; text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 5%">Dated:</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 30%">June 10, 2020</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify; width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">Shelton Funds, on behalf of its series,</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">the Shelton Core Value Fund</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line">/s/ Gregory T. Pusch </TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">By:</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Gregory T. Pusch</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Chief Compliance Officer</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line">Shelton Capital Management</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line">/s/ Gregory T. Pusch </TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">By:</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Gregory T. Pusch</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="layout-grid-mode: line; text-align: justify">Chief Compliance Officer</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
</TABLE>

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

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

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