Moors & Cabot’s Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) GOL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q3	–	Sell	-6,600	Closed	-$31K	–	544
2015 Q2	$31K	Buy	6,600 +1,455	+28%	+$6.83K	0.01%	517
2015 Q1	$26K	Buy	+5,145	New	+$26K	﹤0.01%	504
2014 Q2	–	Sell	-5,350	Closed	-$52K	–	544
2014 Q1	$52K	Buy	+5,350	New	+$52K	0.01%	367