ADVANCED EMISSIONS SOLUTS IN

Ticker: ARQ CUSIP: 00770C101 Class: COM

HBK INVESTMENTS L P's Holding History (CIK: 0001011443)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 12,859 Value ($000) $274 Avg Close $16.46 Range $14.59 - $18.49

Q2 2014

Shares 15,900 Value ($000) $365 Avg Close $16.83 Range $13.29 - $19.84

Q1 2014

Shares 28,400 Value ($000) $697 Avg Close $19.55 Range $16.66 - $21.56

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	12,859	$274	$16.46	$14.59 - $18.49
Q2 2014	15,900	$365	$16.83	$13.29 - $19.84
Q1 2014	28,400	$697	$19.55	$16.66 - $21.56