Mark S. Wallace

Wells Fargo Advisors Money Market Fund — Int/Div

US Treasury Bond — Interest

SDD units — istnibution

SRS ums — Distribution

Wells Fargo Bank Deposit (x) — Interest

ABX common stock — Int/Div

American Century Capital Preservation Fund — Int/Div

Amencan Century Global Gold Fund — Int/Div

American Century Capital Preservation Fund — Int/Div — Buy (add'l)

UBS USA Deposit Account — Interest — Sold (part)

XOM common stock — Int/Div

PWE units — Int/Div — with line 13)

Obsidian Energy — Int/Div — Open

GDX units — Distribution

NLY units — Int/Div

ABX common stock — Int/Div

COP common stock — Int/Div

PSX — Int/Div

ECA common stock — Int/Div

iShares TIPs Bond Fund — Distribution

US Treasury obligations — Interest — Sold (part)

Federated Prudent Bear Fund — Distribution

PHYS units — None

Physical gold — None

US Double Eagle coms — None

Physical silver — None

Bank of America savings account — Interest

Bank of America checking account — Interest

Union Bunk checking account — Interest

Chase Bank checking account — Interest

Chase Bank savings account — Interest

VXX umts — Distribution — Sold (part)

VXX umts — Sold (part)

SDD units — Distribution

ABX common stock — Int/Div

XOM common stock — Int/Div

US Treasury obligations — Interest

Federated Prudent Bear Fund — Distribution

Vanguard Ginnie Mae Fund — Distribution

Vanguard Inflation Index Fund — Distribution

Rydex Inverse S&PS002x Strategy Fund — istnbution

American Century Capital Preservation Fund — Distribution

UBS U.S. deposit account — Distribution

GG common stock — Int/Div

US. Treasury obligations — Interest

Dreyfus 100% USTreasury Money Market Fuind — Distribution

Fidelity US Treasury Money Market Fund — Distribution

Rydex US Government Money Market Fund — Distribution

Grizzly Short Fund — Distribution

Wells Fargo Bank Deposit Sweep — Interest — Buy (add'l)

ADM Investor Services — Distribution

US Savings Bonds — Interest

Northwestern Whole Life Mutual Life Insurance Policy — Int/Div

US. Treasury obligations — Interest

2200 PNRA common stock — None — Buy

Prudent Bear Fund — istrnibution

20 PCLN common stock — None

NEM common stock — Int/Div

BGEIX units — Distribution

SGOL units — None

NEM common stock — Int/Div

SLV units — None

200 MAR common stock — None

20 CMG common stock — None

20 AZO common stock — None

AVP common stock — Int/Div

November $10 bean call — None — Buy

November $10 bean call — Sold

November $10.60 bean call — None — Buy

November $10.60 bean call — Sold

1 September Dollar Index — None — Buy

1 September Dollar Index — Sold

March mini Silver — None — Sold

Jackson National Life Insurance Annuity {Hy

INL/Mellon Capital S&P S00 Index — Int/Div — Buy

INL/Mellon Capital Energy Sector — Int/Div — Buy

INL/BlackRock Global Natural Resources — Int/Div — Buy

INL/T. Rowe Price Short-Term Bond — Int/Div — Buy

1 September bean — None — Buy

1 September bean — Sold

November bean — None — Sold

November bean — Buy

Orange Rotary Charitable Trust (H)

Trustee, Revocable Trust #1 (no reportable assets)

Director, I'he Orange Rotary Charitable Trust

Liability — Wells Fargo Advisors — Contingent abilities for stocks sold short

Liability — Bank of America — Credit card

Liability — Chase Bank — Credit card

Liability — ADM Investor Services, Ine — Liabilities on commaodity and futures positions in excess of cash posted for margin

Reimbursement — Association of Insolvency and Restructuring Advisors — June 6-10, 2017 — Dallas, TX — Annual conference — Transportatio, meals, lodging

Reimbursement — National Conference of Bankruptcy Judges — October 7-11, 201 — Las Vegas, NV — Annual conference — Transportation, meals, lodging

Although | am a director of the Orange Rotary Charitable Trust (*ORCT"), neither | nor any member of my family is a beneficiary of the ORCT nor have | or any

member of my family received any income from the ORCT. My service as a director is a community service for which I receive no compensation in any form. |

am a member of the Rotary Club of Orange,

Some of the reported transactions are short sales. In such a transaction, the sule precedes the purchase. Gain or loss is realized when the short sale is closed out

by purchasing the stock or commodity that was sold short. The audit function in the software fails to take these short sales into account and therefore generates a

host of misleading “error” messages. For example, if a June emini S&P contract is sold on April 10, 2017 and bought on June 1, 2017, the transaction closes out

on June 1, 2017 and nothing is owned as of the close of the reporting period on December 31, 2017, Short sales and short positions are denoted by a minus sign

in front of the item being sold short, for example -20 PCLN common stock means that 20 shares of Priceline common stock was sold short. As of December 31,

2017, all my short positions in individual stocks were showing losses, with the sole exception of CMG. None of the short sales generates any income, so there is a

question as to whether | should be reporting short sales where there is no income and a loss position at the end of the year.

Certain assets generate no income during the reporting period. For example, precious metals generate no income unless sold, Stocks that are sold short (such as

AZO and PCLN) generate no income while held short.

Many of the reported transactions mvolve commodity, currency index or stock index futures contracts. In such a transaction, there is no "purchase price” as

such. Instead, the buyer (or seller) posts cash margin to secure his promise to buy or sell at maturity. The liability on futures contracts can vary from day to

day based upon daily price limits regarding how much a price for the underlying commaodity, currency index or stock index can rise or fall in a single day.

Some contracts have no limits. Therefore, the liability theoretically could be infinite. Tn actual practice, if a futures position moves against the holder, the

brokerage company will issue a margin call requiring the holder to post additional cash margin within 24 to 72 hours of the call. If margin is not timely posted,

the brokerage company will close out the position and bill the holder for the deficiency. For the avoidance of doubt, | had no commodities margin calls during

2017 and therefore listed the "liabilities" under Part V1 of this Report as *)."

Also, please note that when securities are sold short and then closed out in not one but two (partial) transactions, there is no "buy partial)" notation to elect,

Therefore, | simply used “buy.”

For open futures positions at the end of the year, if any, the unrealized gain or loss in the contract as of the close of business on December 31, 2017 is reported.

Revocable Trust #1 no longer has a beneficial interest in any assets, 1 continue to use this trust as a nominee so that 1 can distinguish between separate property

und community property. (My deceased mother was previously the sole beneficiary under this trust).

Various individual stocks are sold short in my Wells Fargo Advisors securities account (for example, CMG, PCLN, etc.) This account is a margin account. If

the stocks-sold-short positions were to significantly move against me, | could be required to post additional margin. This has never occurred in my case but is

theoretically possible. Accordingly, I have listed this as a contingent liability in Part VI of this report.

In preparing my 2017 federal mcome tax return, it came to my attention that | was short 200 shares of Panera Bread Company (PNRA), not 100 as | previously

believed (and reported on 2012-2016 Financial Disclosures Reports). The short sale transaction was initiated in May 2012, The short sale was closed out in

July 2017 involuntarily when PNRA was acquired by another company. The short sale resulted in a substantial loss, In reviewing this transaction for Financial

Disclosure Report purposes, 1 question whether | was ever required to report this position for any of the 2012-2017 reporting periods . As of each year end,

December 31, 2012, December 31, 2013, December 31, 2014, December 31, 2015, December 31, 2016 and December 31, 2017, the 200 shares held short were in

a loss position (meaning that if | closed out the short by buying in 200 shares, | would have lost money on the transaction) and therefore had a value of less than

$1,000. Additionally, the 200 PNRA shares held short never generated any income.