Filing Details

Accession Number:
0001493152-21-015191
Form Type:
13G Filing
Publication Date:
2021-06-23 20:00:00
Filed By:
Wr Hambrecht Ventures Iii, L.p.
Company:
Arcimoto Inc
Filing Date:
2021-06-24
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
WR Hambrecht Ventures III 0 364,298 0 364,298 364,298 1.0%
Hambrecht Partners Holdings 0 364,298 0 364,298 364,298 1.0%
Elizabeth Hambrecht 9,832 364,298 9,832 364,298 374,130 1.0%
John Hullar 98,323 364,298 98,323 364,298 462,621 1.3%
Paramour Capital 100,000 0 100,000 0 100,000 0.3%
Michael A. Kramer 0 464,298 0 464,298 464,298 1.3%
WM Electric Holdings 50,000 0 50,000 0 50,000 0.1%
William Mayer 113,723 414,298 113,723 414,298 528,021 1.5%
Ironstone Group, Inc 79,000 0 79,000 0 79,000 0.2%
William Hambrecht 15,732 443,298 15,732 443,298 459,303 1.3%
Thomas Thurston 0 443,298 0 443,298 1,167,456 1.2%
Filing

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13G

(Amendment No. 2)

 

*

Under the Securities Exchange Act of 1934

 

Arcimoto, Inc.

 

(Name of Issuer)

 

Common Stock, no par value

 

(Title of Class of Securities)

 

039587100

 

(CUSIP Number)

 

December 31, 2020

 

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

[  ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[  ] Rule 13d-1(d)

 

 

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing of 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.

 

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.

 

 

 

   
CUSIP No. 039587100  
Page 2 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

WR Hambrecht Ventures III, L.P.

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3.

SEC Use Only

4.

Citizenship or Place of Organization 

 

Delaware

 

Number of

Shares Beneficially Owned By

Each

Reporting

Person

With

5.

Sole Voting Power

 

0

6.

Shared Voting Power

 

364,298

7.

Sole Dispositive Power

 

0

8.

Shared Dispositive Power

 

364,298

 

9.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

364,298

10.

 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

 

Percent of Class Represented by Amount in Row (9)

 

1.0%(1)

12.

 

Type of Reporting Person 

 

PN

 

 

1 Based on 35,783,000 shares of common stock, no par value per share of Arcimoto, Inc. (the “Common Stock”) outstanding as of May 17, 2021, as reported by Arcimoto, Inc., (the “Issuer”) in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed with the U.S. Securities and Exchange Commission on May 17, 2021 (the “Form 10-Q”).

 

   
CUSIP No. 039587100  
Page 3 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Hambrecht Partners Holdings, LLC

2.

Check the Appropriate Box if a Member of a Group 

                                            (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

California

 

Number of

Shares Beneficially Owned By

Each

Reporting

Person

With

5.

Sole Voting Power

 

0

6.

Shared Voting Power

 

364,298

7.

Sole Dispositive Power

 

0

8.

Shared Dispositive Power

 

364,298

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

364,298

10.

 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

 

Percent of Class Represented by Amount in Row (9)

 

1.0%(1)

12.

 

Type of Reporting Person

 

OO

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 4 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Elizabeth Hambrecht

2.

Check the Appropriate Box if a Member of a Group

                                           (a) [  ]

Not Applicable                    (b) [X]

3.

SEC Use Only

4.

Citizenship or Place of Organization 

 

United States

 

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

5.

Sole Voting Power 

 

9,832

6.

Shared Voting Power

 

364,298

7.

Sole Dispositive Power

 

9,832

8.

Shared Dispositive Power

 

364,298

 

9.

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

374,130

10.

 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

 

Percent of Class Represented by Amount in Row (9) 

 

1.0%(1)

12.

 

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 5 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

John Hullar

2.

Check the Appropriate Box if a Member of a Group

                                           (a) [  ]

Not Applicable                    (b) [X]

3.

SEC Use Only

4.

Citizenship or Place of Organization 

 

United States

 

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person With

5.

Sole Voting Power

 

98,323

6.

Shared Voting Power

 

364,298

7.

Sole Dispositive Power 

 

98,323

8.

Shared Dispositive Power

 

364,298

9.

 

 

Aggregate Amount Beneficially Owned by Each Reporting Person

 

462,621

10.

 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

 

Percent of Class Represented by Amount in Row (9) 

 

1.3%(1)

12.

 

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 6 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Paramour Capital

2.

Check the Appropriate Box if a Member of a Group

                                           (a) [  ]

Not Applicable                    (b) [X]

 

3.

 

SEC Use Only

4.

Citizenship or Place of Organization

 

Delaware

 

Number of

Shares Beneficially Owned By

Each Reporting Person With

5.

Sole Voting Power

 

100,000

6.

Shared Voting Power

 

0

7.

Sole Dispositive Power

 

100,000

8.

Shared Dispositive Power

 

0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

100,000

10.

 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares ☐

 

Not Applicable

11.

 

Percent of Class Represented by Amount in Row (9) 

 

0.3%(1)

12.

 

Type of Reporting Person 

 

OO

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 7 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Michael A. Kramer

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

United States

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

0

6.

Shared Voting Power 

 

464,298

7.

Sole Dispositive Power 

 

0

8.

Shared Dispositive Power

 

464,298

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

464,298

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

1.3%(1)

12.

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 8 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

WM Electric Holdings, LLC

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

Delaware

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

50,000

6.

Shared Voting Power 

 

0

7.

Sole Dispositive Power 

 

50,000

8.

Shared Dispositive Power

 

0

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

50,000

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

0.1%(1)

12.

Type of Reporting Person 

 

OO

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 9 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

William Mayer

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

United States

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

113,723

6.

Shared Voting Power 

 

414,298

7.

Sole Dispositive Power 

 

113,723

8.

Shared Dispositive Power

 

414,298

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

528,021

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

1.5%(1)

12.

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 10 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Ironstone Group, Inc.

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

Delaware

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

79,000(1)

6.

Shared Voting Power 

 

0

7.

Sole Dispositive Power 

 

79,000(1)

8.

Shared Dispositive Power

 

0

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

79,000

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

0.2%(1)

12.

Type of Reporting Person 

 

CO

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 11 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

William Hambrecht

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

United States

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

15,732

6.

Shared Voting Power 

 

443,298

7.

Sole Dispositive Power 

 

15,732

8.

Shared Dispositive Power

 

443,298

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

459,303

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

1.3%(1)

12.

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

   
CUSIP No. 039587100  
Page 12 of 21  

 

1.

Name of Reporting Person

I.R.S. Identification No. of Above Person (Entities Only)

 

Thomas Thurston

2.

Check the Appropriate Box if a Member of a Group

                                             (a) [  ]

Not Applicable                    (b) [X]

3. SEC Use Only
4.

Citizenship or Place of Organization 

 

United States

Number of

Shares
Beneficially
Owned By

Each Reporting
Person With

5.

Sole Voting Power 

 

0

6.

Shared Voting Power 

 

443,298

7.

Sole Dispositive Power 

 

0

8.

Shared Dispositive Power

 

443,298

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,167,456(1)

10. 

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [  ]

 

Not Applicable

11.

Percent of Class Represented by Amount in Row (9) 

 

1.2%(1)

12.

Type of Reporting Person 

 

IN

 

 

1 Based on 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q

 

 
CUSIP No. 039587100  
Page 13 of 21  

 

Item 1(a) Name of Issuer

 

Arcimoto, Inc. (the “Issuer”)

 

Item 1(b) Address of Issuer’s Principal Executive Offices

 

2034 W. 2nd Avenue, Eugene, Oregon 97402

 

Item 2(a) Name of Person Filing

 

This Schedule 13G/A is being filed by:

 

WR Hambrecht Ventures III, L.P. (“WR Hambrecht”)

Hambrecht Partners Holdings, LLC (“HPH”)

Elizabeth Hambrecht (“Ms. Hambrecht”)

John Hullar (“Mr. Hullar”)

Paramour Capital (“Paramour Capital”)

Michael A. Kramer (“Mr. Kramer”)

WM Electric Holdings, LLC (“Electric Holdings”)

William Mayer (“Mr. Mayer”)

Ironstone Group, Inc. (“Ironstone Group”)

William Hambrecht (“Mr. Hambrecht”)

Thomas Thurston (“Mr. Thurston”)

(collectively, the “Reporting Persons”).

 

HPH serves as the investment manager for WR Hambrecht. Mr. Mayer serves as the Chairman, Mr. Hambrecht as the Co-Chairman and advisory director and Mr. Hullar as Chief Executive Officer and a director of HPH. Mr. Hambrecht also serves as the portfolio manager and managing partner of WR Hambrecht, and owns other shares through a revocable trust. Mr. Mayer owns shares of Common Stock in his own name and through his investment fund WM Electric Holdings. Ms. Hambrecht is the portfolio manager of WR Hambrecht and also owns shares with her spouse. Mr. Hullar is a Managing Partner and Chief Executive Officer of WR Hambrecht and also owns shares through a trust with his spouse. Mr. Kramer, a member of the Board of Directors of HPH, owns shares of Common Stock through Paramour Capital. Mr. Hambrecht also serves as the President and Chief Executive Officer of Ironstone Group. Mr. Thurston is a director of both Ironstone Group and the Issuer and owns units of WR Hambrecht.

 

Item 2(b) Address of Principal Business Office, or if none, Residence

 

WR Hambrecht, HPH, Ms. Hambrecht, Mr. Hullar, Ironstone Group, Mr. Hambrecht and Mr. Thurston have a principal address of 909 Montgomery Street, 3rd Floor, San Francisco, California 94133. Paramour Capital has a principal address of 1300 Market Streeet, Suite 605, Wilmington, Delaware 19801. Mr. Kramer has a principal address of 499 Park Avenue, 16th Floor, New York, New York 10022. Electric Holdings and Mr. Mayer have a principal address of P.O. Box 4462, Aspen, Colorado 81612.

 

Item 2(c) Citizenship

 

The Reporting Persons are citizens of:

 

WR Hambrecht — Delaware

HPH — California

Ms. Hambrecht — USA

Mr. Hullar — USA

Paramour Capital — Delaware

Mr. Kramer — USA

WM Electric Holdings — Delaware

Mr. Mayer — USA

Ironstone Group — Delaware

Mr. Hambrecht — USA

Mr. Thurston — USA

 

 
CUSIP No. 039587100  
Page 14 of 21  

 

Item 2(d) Title of Class of Securities

 

Common Stock, no par value (“Common Stock”)

 

Item 2(e) CUSIP Number

 

039587100

 

Item 3. Filing pursuant to Rules 13d-1(b) or 13d-2(b) or (c)

 

Not Applicable.

 

Item 4. Ownership

 

(a) The information set forth in rows 5 through 9 and 11 on the cover pages to this Schedule 13G amendment are incorporated herein by reference. The Reporting Persons are the beneficial owners of an aggregate of 830,908 shares of Common Stock, which represents 2.3% of the Issuer’s outstanding Common Stock based upon 35,783,000 shares of Common Stock outstanding as of May 17, 2021, as reported by the Issuer in its Form 10-Q.

 

  (b) Percent of class:

 

WR Hambrecht — 1.0%

HPH — 1.0%

Ms. Hambrecht — 1.0%

Mr. Hullar — 1.3%

Paramour Capital — less than 1%

Mr. Kramer — 1.3%

WM Electric Holdings — less than 1%

Mr. Mayer — 1.5%

Ironstone Group — less than 1%

Mr. Hambrecht — 1.3%

Mr. Thurston — 1.2%

 

 
CUSIP No. 039587100  
Page 15 of 21  

 

  (c) Number of shares as to which such person has:

 

(i) Sole power to vote or to direct the vote:

 

WR Hambrecht — 0

HPH — 0

Ms. Hambrecht — 9,832

Mr. Hullar — 98,323

Paramour Capital — 100,000

Mr. Kramer — 0

WM Electric Holdings — 50,000

Mr. Mayer — 113,723

Ironstone Group — 79,000

Mr. Hambrecht — 15,732

Mr. Thurston — 0

 

(ii) Shared power to vote or to direct the vote:

 

WR Hambrecht — 364,298

HPH — 364,298

Ms. Hambrecht — 364,298

Mr. Hullar — 364,298

Paramour Capital — 0

Mr. Kramer — 464,298

WM Electric Holdings — 0

Mr. Mayer — 414,298

Ironstone Group — 0

Mr. Hambrecht — 443,298

Mr. Thurston — 443,298

 

(iii) Sole power to dispose or to direct the disposition of:

 

WR Hambrecht — 0

HPH — 0

Ms. Hambrecht — 9,832

Mr. Hullar — 98,323

Paramour Capital — 100,000

Mr. Kramer — 0

WM Electric Holdings — 50,000

Mr. Mayer — 113,723

Ironstone Group — 79,000

Mr. Hambrecht — 15,732

Mr. Thurston — 0

 

(iv) Shared power to dispose or to direct the disposition of:

 

WR Hambrecht — 364,298

HPH — 364,298

Ms. Hambrecht —364,298

Mr. Hullar — 364,298

Paramour Capital — 0

Mr. Kramer — 464,298

WM Electric Holdings — 0

Mr. Mayer — 414,298

Ironstone Group — 0

Mr. Hambrecht — 443,298

Mr. Thurston — 443,298

 

 
CUSIP No. 039587100  
Page 16 of 21  

 

Item 5. Ownership of Five Percent or Less of a Class

 

The reporting persons are reporting that they own less than 5%.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person


 

Not Applicable

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

 

Not Applicable.

 

Item 8. Identification and Classification of Members of the Group


 

Not Applicable.

 

Item 9. Notice of Dissolution of Group


 

Not Applicable

 

Item 10. Certification

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 §240.14a-11.

 

Exhibit Index

 

Exhibit A – Joint Filing Agreement

 

 
CUSIP No. 039587100  
Page 17 of 21  

 

SIGNATURE

 

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.

 

Date: June 24, 2021

 

  WR  HAMBRECHT VENTURES III, L.P.
     
  By: Hambrecht Partners Holdings, LLC its investment manager
     
  By: *
  Name: William R. Hambrecht Title: Managing Partner
  Title: Managing Partner
     
  HAMBRECHT PARTNERS HOLDINGS, LLC
     
  By: *
  Name:  William R. Hambrecht Title: Co-Chairman

 

  /s/ Elizabeth Hambrecht *
  Elizabeth Hambrecht
   
  /s/ John Hullar *
  John Hullar

 

  PARAMOUR CAPITAL
     
  By: Michael A. Kramer*
  Name: Michael A. Kramer
  Title: Manager

 

  /s/ Michael A. Kramer*
  Michael A. Kramer

 

  WM ELECTRIC HOLDINGS, LLC
     
  By: William E. Mayer *
  Name: William E. Mayer
  Title: Manager

 

  /s/ William E. Mayer*
  William Mayer

 

 
CUSIP No. 039587100  
Page 18 of 21  

  

  IRONSTONE GROUP, INC.
   
  By: *
  Name: William R. Hambrecht
  Title: Chairman & CEO

 

  *
  William Hambrecht

 

  /s/ Thomas Thurston*
  Thomas Thurston

 

  *By: /s/ William Hambrecht
    William Hambrecht, as Attorney-in-Fact

 

 
CUSIP No. 039587100  
Page 19 of 21  

 

Exhibit A

 

AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G/A

 

The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13G/A to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party.

 

Date: June 21, 2018

 

[Signature Pages Follow]

 

 
CUSIP No. 039587100  
Page 20 of 21  

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first written above.

 

  WR HAMBRECHT VENTURES III, L.P.
     
  By: HAMBRECHT PARTNERS HOLDINGS, LLC its investment manager

 

  By: *
  Name:  William R. Hambrecht
  Title:  Managing Partner

 

  HAMBRECHT PARTNERS HOLDINGS, LLC
   
  By: *
  Name:  William R. Hambrecht
  Title:  Co-Chairman

 

  /s/ Elizabeth Hambrecht*
  Elizabeth Hambrecht

 

  /s/ John Hullar*
  John Hullar

 

  PARAMOUR CAPITAL
   
  By: Michael A. Kramer *
  Name: Michael A. Kramer
  Title: Manager

 

  /s/ Michael A. Kramer*
  Michael A. Kramer

 

  WM ELECTRIC HOLDINGS, LLC
   
  By: William E. Mayer *
  Name: William E. Mayer
  Title:  Manager

 

  /s/ William E. Mayer*
  William Mayer

 

 
CUSIP No. 039587100  
Page 21 of 21  

 

  IRONSTONE GROUP, INC.
     
  By: *
  Name: William R. Hambrecht
  Title: Chairman & CEO
     
   
  *
  William Hambrecht
   
  *
  Thomas Thurston
     
  * By: /s/ William Hambrecht
    William Hambrecht, as Attorney-in-Fact
    Thomas Thurston