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)

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

UBS USA Deposit Account — Interest

XOM common stock — Int/Div — Buy (add'l)

PWE units — Int/Div

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 — Buy (add'l)

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

SDD units — istnbution

ABX common stock — Int/Div

XOM common stock — Int/Div

US Treasury obligations — Interest

Federated Prudent Bear Fund — istnbution

Vanguard Ginnie Mae Fund — Distribution

Vanguard Inflation Index Fund — Distribution

Rydex Inverse S&PS5002x Strategy Fund — Distribution — Buy (add'l)

American Century Capital Preservation Fund — istnbution

UBS U.S. deposit account — Distribution

GG common stock — Int/Div

US. Treasury obligations — Interest

Dreyfus 100% USTreasury Money Market Fuind — istmbution

Fidelity US Treasury Money Market Fund — Distribution — Sold (part)

Rvdex US Government Money Market Fund — Distribution

Grizzly Short Fund — Distribution — Buy

Grizzly Short Fund — Buy (add'l)

S10. — Buy (add'l)

Wells Fargo Bank Deposit Sweep — Interest

ADM Investor Services — istnibution

US Savings Bonds — Interest

Northwestern Whole Life Mutual Life Insurance Policy — Int/Div

U.S. Treasury obligations (x) — Interest

100 PNRA common stock — None

SAM common stock — None

SAM common stock — Buy

Prudent Bear Fund — Distribution

20 PCLN common stock — None

NEM common stock — Int/Div

BGEIX units — Distribution

SGOL units — None

NEM common stock — Int/Div

SLV umts — None

200 MAR common stock — None

20 CMG common stock — None

GDXJ units — Distribution

AVP common stock — Int/Div — Buy

1 March 2018 emim S&P — None — Sold

1 March 2018 emim S&P — Buy

1 March 2015 oat — None — Sold

1 March 2015 oat — Buy

1 March emim S&P — None — Sold

1 March emim S&P — Buy

March cocoa — None — Sold

March cocoa — Buy

1 March T-Bond — None — Buy

1 March T-Bond — Sold

March emini S&P — None — Buy

March emini S&P — Sold

March silver — None — Buy

March silver — Sold

July wheat — None — Buy

July wheat — Sold

March emi S&P — None — Sold

March emi S&P — Buy

1 June T-Bond — None — Sold

1 June T-Bond — Buy

September Canadian dollar — None — Buy

September Canadian dollar — Sold

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 — American Bar Association Section of Taxation — January 29-31, 2015 — Houston, TX — Midyear Mecting — Transportation, meals, lodging

Reimbursement — National Conference of Bankruptcy Judges — September 27-30, 2015 — Miami Beach, FL — Annual conference — Transportation, meals, lodging

Reimbursement — Association of Insolvency and Restructuring Advisors — June 3-6, 2015 — Philadelphia, PA — Annual conference — Transportation, meals, lodging

Many of the reported transactions are short sales. In such a transaction, the sale 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, 2015 and bought on June 1, 2015, the transaction closes

out on June 1, 2015 and nothing is owned as of the close of the reporting period on December 31, 2015. Short sales and short positions are denoted by & 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. Where a short

sale transaction was closed during calendar year 2015, | reported both the date of the short sale (even if this occurred mn 2014 or an earlier year) and the date the

transaction was closed in 2015 by buying in the stock or commodity that was sold short. | believe that by reporting the date of the short sale (even if in 2014), |

nake the report less confusing and promote greater visibility,

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

PNRA, PCLN and SAM) generate no income while held short.

Many of the reported transactions involve 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 cissh 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 commodity, 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. In 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, I had no commodities margin calls during

2015 and therefore listed the "liabilities" under Part VI of this Report as "J."

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 Joss in the contract us of the close of business on December 31, 2015 is reported.

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

and 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, PNRA, ete.) This account is a margin account, If

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

theoretically possible. Accordingly, | have listed this as u contingent lisbility in Paret V1 of this report.