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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
ADA-ES INCORPORATED
------------------------------------------------
(Name of Issuer)
COMMON STOCK
------------------------------------------------
(Title of Class of Securities)
005208103
------------------------------------------------
(CUSIP Number)
DECEMBER 31, 2009
------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule
pursuant to which this Schedule is filed:
[X] Rule 13d-1(b)
[ ] 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 on this form
with respect to the subject class of securities, and
for any subsequent amendment containing information
which would alter the disclosures provided in a prior
cover page.
The information required in 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, (however, see the Notes).
Persons who respond to the collection of information
contained in this form are not required to respond
unless the form displays a currently valid OMB
control number.
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Cusip No. 005208103
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1. Names of Reporting Persons.
Dynamis Advisors, LLC
IRS Identification Nos. of above persons (entities
only).
54-1852654
2. Check the Appropriate Box if a Member of a Group
(See Instructions).
(a)[ ]
(b)[X] Joint filing pursuant to Rule 13d-1(k)(1)
3. SEC Use Only.
4. Citizenship or Place of Organization.
U.S.A. - Delaware Limited Liability Company
Number of Shares Beneficially Owned by Each Reporting
Person with:
5. Sole Voting Power.
0
6. Shared Voting Power.
18,850
7. Sole Dispositive Power.
0
8. Shared Dispositive Power.
18,850
9. Aggregate Amount Beneficially Owned by Each Reporting Person.
18,850
10.Check if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions).
N/A
11. Percent of Class Represented by Amount in Row (9).
0.3%
12. Type of Reporting Person (See Instructions).
IA
--------------------
Cusip No. 005208103
--------------------
1. Names of Reporting Persons.
Investment Management of Virginia, LLC
IRS Identification Nos. of above persons
(entities only).
54-1994290
2. Check the Appropriate Box if a Member of a Group
(See Instructions).
(a)[ ]
(b)[X] Joint filing pursuant to Rule 13d-1(k)(1)
3. SEC Use Only.
4. Citizenship or Place of Organization.
U.S.A. - Delaware Limited Liability Company
Number of Shares Beneficially Owned by Each Reporting
Person with:
5. Sole Voting Power.
0
6. Shared Voting Power.
18,850
7. Sole Dispositive Power.
0
8. Shared Dispositive Power.
18,850
9. Aggregate Amount Beneficially Owned by Each Reporting Person.
18,850
10.Check if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions).
N/A
11. Percent of Class Represented by Amount in Row (9).
0.3%
12. Type of Reporting Person (See Instructions).
IA
--------------------
Cusip No. 005208103
--------------------
1. Names of Reporting Persons.
Alexander H. Bocock
IRS Identification Nos. of above persons
(entities only).
N/A
2. Check the Appropriate Box if a Member of a Group
(See Instructions).
(a)[ ]
(b)[X] Joint filing pursuant to Rule 13d-1(k)(1)
3. SEC Use Only.
4. Citizenship or Place of Organization.
U.S.A.
Number of Shares Beneficially Owned by Each Reporting Person with:
5. Sole Voting Power.
18,850
6. Shared Voting Power.
18,850
7. Sole Dispositive Power.
18,850
8. Shared Dispositive Power.
18,850
9. Aggregate Amount Beneficially Owned by Each Reporting Person.
18,850
10. Check if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions).
N/A
11. Percent of Class Represented by Amount in Row (9).
0.3%
12. Type of Reporting Person (See Instructions).
IN
--------------------
CUSIP No. 005208103
--------------------
Item 1.
(a) Name of Issuer.
ADA-ES Incorporated
(b) Address of Issuer's Principal Executive Offices.
8100 South Park Way B
Littleton, Colorado 80120
Item 2.
(a) Names of Persons Filing.
(1) Dynamis Advisors, LLC
(2) Investment Management of Virginia, LLC
(3) Alexander H. Bocock
Attached as Exhibit A is a copy of an agreement
between the persons filing (as specified above)
that this Schedule 13G is being filed on behalf
of each of them.
(b) Address of Principal Business Office of each of
the persons specified in 2(a) above:
919 East Main Street, 16th Floor
Richmond, Virginia 23219
(c) Citizenship:
(1) Dynamis Advisors, LLC - Delaware Limited
Liability Company
(2) Investment Management of Virginia, LLC -
Delaware Limited Liability Company
(3) Alexander H. Bocock - U.S.A.
(d) Title of Class of Securities
common stock
(e) CUSIP Number
005208103
Item 3. If this statement is filed pursuant to
Section 240.13d-1(b) or 240.13d-2(b) or (c), check
whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15
of the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C.78c);
(c) [ ] Insurance company as defined in section
3(a)(19)of the Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under section
8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8);
(e) [X]*An investment adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund
in accordance with Section 240.13d-1(b)(1)(ii)(F);
(g) [X]*A parent holding company or control person
in accordance with Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the
definition of an investment company under
section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [X]*Group, in accordance with
Section 240.13d-1(b)(1)(ii)(J).
*Dynamis Advisors, LLC is an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940.
Investment Management of Virginia, LLC is an investment
adviser registered under Section 203 of the Investment
Advisers Act of 1940. Alexander H. Bocock is a Member/General
Partner and control person of Dynamis Advisors, LLC and
a Director and control person of Investment Management of
Virginia, LLC. Investment Management of Virginia,
LLC, and Alexander H. Bocock are joining in this
filing on Schedule 13G.
Item 4. Ownership.
Reference is made to Items 5-11 on the cover sheets
of this Schedule 13G.
Dynamis Advisors, LLC and Investment Management of
Virginia, LLC have been granted discretionary
dispositive power over their respective clients'
securities and in some instances have voting power
over such securities. Any and all discretionary
authority which has been delegated to Dynamis
Advisors, LLC and Investment Management of
Virginia, LLC may be revoked in whole or in
part at any time. Investment Management of
Virginia, LLC and Alexander H. Bocock are joining
this Schedule 13G and reporting beneficial ownership
of the same securities beneficially owned by
Dynamis Advisors,LLC as a result of his position
with Dynamis Advisors, LLC. See Item 8.
Item 5. Ownership of Five Percent or Less of a Class.
This statement is being filed to report the fact that
as of the date hereof the reporting group ceases to be
the beneficial owners of more than five percent of the
class of securities.
Item 6. Ownership of More than Five Percent on Behalf
of Another Person.
Dynamis Advisors, LLC and Investment Management of
Virginia, LLC have discretionary authority over the
assets of Dynamis Advisors's and Investment
Management of Virginia's clients respectively;
accordingly, in each instance, only the client
or the client's custodian or trustee bank has
the right to receive dividends paid with respect
to, and proceeds from the sale of, such securities.
The ultimate power to direct the receipt of dividends
paid with respect to, and the proceeds from the sale
of, such securities is vested in the clients for which
Dynamis Advisors, LLC and Investment Management of
Virginia, LLC serves as investment advisor.
Any and all discretionary authority which has been
delegated to Dynamis Advisors, LLC and Investment
Management of Virginia, LLC may be revoked in
whole or in part at any time.
Not more than 5% of the class of such securities is
owned by any one of such clients of Dynamis
Advisors, LLC, Investment Management of Virginia,
LLC, or Alexander H. Bocock.
Item 7. Identification and Classification of the
Subsidiary Which Acquired the Security
Being Reported on By the Parent Holding
Company or Control Person.
N/A
Item 8. Identification and Classification of Members
of the Group.
Dynamis Advisors, LLC, a Delaware limited liability
company, is an investment adviser registered under
Section 203 of the Investment Advisers Act of 1940.
Investment Management of Virginia, LLC, a Delaware
limited liability company, is an investment adviser
registered under Section 203 of the Investment
Advisers Act of 1940. Dynamis Advisors, LLC and
Investment Management of Virginia, LLC are under
common ownership. Alexander H. Bocock is
Member/General Partner of Dynamis Advisors, LLC.
Investment Management of Virginia, LLC, and
Alexander H. Bocock are joining in this Schedule
13G because, as a result of their position with
and ownership of securities of Dynamis Advisors, LLC
could be deemed to have voting and/or investment
power with respect to the shares beneficially owned
by Dynamis Advisors, LLC.
Neither the filing of this joint Schedule 13G nor
any information contained herein shall be construed
as an admission by any party of his control or power
to influence the control of Dynamis Advisors, LLC.
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
By signing below each of the undersigned
(i) certify that, to the best of their knowledge
and belief, the securities referred to above
were acquired and held in the ordinary course
of business and were not acquired and are not
held for the purpose of or with the effect and
do not have any effect of changing or influencing
the control of the issuer of the securities and
were not acquired in connection with or as a
participant in any transaction having such
purposes or effect; and(ii) hereby declare and
affirm that the filing of this Schedule 13G
shall not be construed as an admission that
any of the reporting persons is the beneficial
owner of the securities reported herein, which
beneficial ownership is hereby expressly denied
(except for such shares, if any, reported herein
as beneficially owned by Dynamis Advisors, LLC
for its own account or by Investment Management
of Virginia, LLC for its own account or by
Alexander H. Bocock for his individual account
and not as a result of his individual
position with and ownership of securities of
Dynamis Advisors, LLC.
SIGNATURE
After reasonable inquiry and to the best of each
person's knowledge and belief, the undersigned
certify that the information set forth in this
statement is true, complete and correct.
Date: February 12, 2010
DYNAMIS ADVISORS, LLC
By: /s/ John H. Bocock
Signature
John H. Bocock, Member/GP/CCO
Name/Title
INVESTMENT MANAGEMENT OF
VIRGINIA, LLC
By: /s/ John H. Bocock
Signature
John H. Bocock, Director/CCO
Name/Title
INDIVIDUALS:
Alexander H. Bocock
By: /s/ Alexander H. Bocock
Signature
Alexander H. Bocock
Name/Title
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, as amended, each of the
undersigned hereby agrees to the joint filing with the
other reporting persons of a statement on Schedule 13G
(including amendments thereto) with respect to the
Common Stock of ADA-ES Incorporated and that this
Agreement be included as an Exhibit to such
joint filing.
This agreement may be executed in any number of
counterparts all of which taken together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned hereby execute
this Agreement this 12th day of February, 2010.
DYNAMIS ADVISORS, LLC
By: /s/ John H. Bocock
Signature
John H. Bocock, Member/GP/CCO
Name/Title
INVESTMENT MANAGEMENT OF
VIRGINIA, LLC
By: /s/ John H. Bocock
Signature
John H. Bocock, Director/CCO
Name/Title
INDIVIDUALS:
Alexander H. Bocock
By: /s/ Alexander H. Bocock
Signature
Alexander H. Bocock
Name/Title