13D Filing: Medallion Capital Inc and Appliance Recycling Centers Of America Inc (NASDAQ:ARCI)

(b)

Voting and Dispositive Power:

Medallion Capital has sole voting and dispositive power
over all the 467,000 shares owned by it.

(c)

Transactions within 60 days:

There have been no purchases or sales
of the Company’s common stock by Medallion Capital within the last sixty days, except as follows:

(1) On January 25, 2017, Medallion Capital
sold 15,386 shares of common stock on the open market for an average price of $1.18 per share;

(2) On January 26, 2017, Medallion Capital
sold 300 shares of common stock on the open market for an average price of $1.18 per share;

(3) On February 9, 2017, Medallion Capital
sold 9,314 shares of common stock on the open market for an average price of $1.13 per share.

(d)

Right to Direct the Receipt of Dividends: Not applicable.

(e)

Last Date on Which Reporting Person Ceased to be a 5% Holder: Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Not Applicable.

Item 7.

Material to be Filed as Exhibits.

None.