<SEC-DOCUMENT>0001144204-13-041087.txt : 20130725
<SEC-HEADER>0001144204-13-041087.hdr.sgml : 20130725
<ACCEPTANCE-DATETIME>20130725112349
ACCESSION NUMBER:		0001144204-13-041087
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130725
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130725
DATE AS OF CHANGE:		20130725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INNODATA INC
		CENTRAL INDEX KEY:			0000903651
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				133475943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35774
		FILM NUMBER:		13985444

	BUSINESS ADDRESS:	
		STREET 1:		THREE UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601
		BUSINESS PHONE:		201 371 8000

	MAIL ADDRESS:	
		STREET 1:		THREE UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INNODATA ISOGEN INC
		DATE OF NAME CHANGE:	20031117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INNODATA CORP
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v350843_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report: July 25, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of earliest event reported):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INNODATA INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 40%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 31%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>0-22196</B></FONT></TD>
    <TD STYLE="width: 29%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>13-3475943</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">incorporation)</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">&#9;Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Three University Plaza</B></FONT></TD>
    <TD STYLE="width: 31%; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>07601</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Hackensack, NJ 07601</B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(201) 371-8000</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Registrant's telephone number, including area code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Innodata Inc. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Former name or former address, if changed since last report)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding: 0; font-size: 10pt; text-indent: 0"><B>Item 2.02</B></TD>
    <TD STYLE="width: 91%; padding: 0; font-size: 10pt; text-indent: 0"><B><U>Results of Operations and Financial Condition.</U></B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">On July 25, 2013, Innodata
Inc. issued a press release announcing its second quarter 2013 financial results. A copy of the press release is attached hereto
as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In accordance with General
Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to
be &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;),
or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement
or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding: 0; font-size: 10pt; text-indent: 0"><B>Item 9.01</B>&nbsp;&nbsp;</TD>
    <TD STYLE="width: 91%; padding: 0; font-size: 10pt; text-indent: 0"><B><U>Financial Statements and Exhibits</U></B>.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">99.1 &#9; &#9;Press release dated July 25, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 1pt; text-align: justify; text-indent: 0">INNODATA INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 1pt; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 1pt; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 69%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Date:&nbsp;&nbsp;July 25, 2013</FONT></TD>
    <TD STYLE="width: 3%; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 28%; text-align: justify; padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ O&rsquo;Neil Nalavadi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">O&rsquo;Neil Nalavadi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Senior Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">and Chief Financial Officer</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>INDEX TO EXHIBITS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 6%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 80%; padding: 0; text-align: center; border-bottom: Black 1pt solid"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Press Release of Innodata Inc., dated July 25, 2013, reporting second &nbsp;&nbsp;quarter 2013 financial results.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Innodata Reports Second Quarter 2013
Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NEW YORK &ndash; July 25, 2013 &ndash;
INNODATA INC. (NASDAQ: INOD)</B> today reported results for the second quarter and the six months ended June 30, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 31.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total revenue was
$16.2 million for the second quarter of 2013, a 4% sequential decline from $16.9 million in the first quarter of 2013. Total revenue
was $22.8 million during the second quarter of 2012. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 31.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the second quarter
of 2013 we incurred a net loss of $0.1 million, or less than $0.01 per diluted share, compared to net earnings of $0.3 million,
or $0.01 per diluted share, in the first quarter of 2013. Net earnings in the second quarter of 2012 were $2.1 million, or $0.08
per diluted share.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 31.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For the first six
months in 2013, revenues were $33 million, down 31% from $48 million in the first six months of 2012. Net earnings were $0.2 million,
or $0.01 per diluted share during the first six months of 2013, compared with net earnings of $5.5 million, or $0.21 per diluted
share for the similar period in 2012. </FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 31.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash, cash equivalents
and investments were $27.2 million at June 30, 2013 compared to $28.5 million at December 31, 2012. As of June 30, 2013, the Company
had no debt and stockholders&rsquo; equity was $49.7 million. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Courier">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Jack Abuhoff, the Company's Chairman
and CEO, said, &quot;Revenues in our IADS segment declined from the first quarter by $500,000 to $0.2 million primarily because
of the completion of two one-time projects in the first quarter. Project volume fluctuations resulted in a $200,000 decline to
$16 million from the first quarter in revenues of our Content Services segment. Pre-operating costs in our Synodex subsidiary were
$2 million in the second quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;We believe that our collective
patience and perseverance in building the new Synodex business line will pay off in the end. At the same time, we are mindful of
the investment we are making and the need to manage our cost structure carefully. For that reason, we have reduced our cost structure
by approximately $6 million in annualized costs over the past 12 months, including approximately $2 million of annualized costs
that we reduced in the second quarter of 2013.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Abuhoff added, &ldquo;We anticipate revenues
in the third quarter of 2013 to be in the range of $14 million to $16 million.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: yellow"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Timing of Conference Call with Q&amp;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Innodata will conduct an earnings conference
call, including a question-and-answer period, at 11:00 AM eastern time today. You can participate in this call by dialing the following
call-in numbers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The call-in numbers for the conference call are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-800-533-7619 (Domestic)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-785-830-1923 (International)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: yellow"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: yellow"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-888-203-1112 (Domestic Replay) &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-719-457-0820 (International Replay)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pass code on both: 6507252</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black">Investors are also invited to access
a live Webcast of the conference call at the Investor Relations section of </FONT><FONT STYLE="color: Blue"><U>www.innodata.com</U></FONT><U><FONT STYLE="color: black">.
</FONT></U><FONT STYLE="color: black">Please note that the Webcast feature will be in listen-only mode.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Call-in or Webcast replay will be available for 30 days following
the conference call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Innodata <B>(NASDAQ: INOD)</B> is a leading
provider of business process, technology and consulting services, as well as products and solutions, that help our valued clients
create, manage, use and distribute digital information. Propelled by a culture of quality, service and innovation, we have developed
a client base that includes many of the world&rsquo;s preeminent media, publishing and information services companies, as well
as leading enterprises in information-intensive industries such as aerospace, defense, financial services, government, healthcare,
high technology, insurance, intelligence, manufacturing and law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recent honors include EContent Magazine&rsquo;s
<I>EContent 100</I>, KMWorld Magazine&rsquo;s <I>100 Companies That Matter in Knowledge Management,</I> the International Association
of Outsourcing Professionals&rsquo; (IAOP) <I>Global Outsourcing Top 100</I>, D&amp;B India&rsquo;s <I>Leading ITeS and BPO Companies
</I>and the Black Book of Outsourcing&rsquo;s <I>Top List of</I> <I>Leading Outsourcing Providers to the Printing and Publishing
Business</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Headquartered in the New York metro area,
Innodata has offices and operations in the United States, the United Kingdom, Israel, India, Sri Lanka, and the Philippines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This release contains forward-looking
statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words
&ldquo;project,&rdquo; &ldquo;head start,&rdquo; &quot;believe,&quot; &quot;expect,&quot; &ldquo;should,&rdquo; &quot;anticipate,&quot;
&quot;indicate,&quot; &quot;point to,&quot; &ldquo;forecast,&rdquo; &ldquo;likely&rdquo;, &ldquo;optimistic&rdquo; and other similar
expressions generally identify forward-looking statements, which speak only as of their dates.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>These forward-looking statements are
based largely on our current expectations, and are subject to a number of risks and uncertainties, including without limitation,
that our Innodata Advanced Data Solutions segment is subject to the risks and uncertainties of early-stage companies; the primarily
at-will nature of the Company&rsquo;s contracts with its Content Services segment customers and the ability of the customers to
reduce, delay or cancel projects; continuing Content Services segment revenue concentration in a limited number of customers; continuing
Content Services segment reliance on project-based work; inability to replace projects that are completed, cancelled or reduced;
depressed market conditions; changes in external market factors; the ability and willingness of our customers and prospective customers
to execute business plans which give rise to requirements for digital content and professional services in knowledge processing;
difficulty in integrating and deriving synergies from acquisitions, joint ventures and strategic investments; potential undiscovered
liabilities of companies that we acquire; changes in our business or growth strategy; the emergence of new or growing competitors;
various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings
with the Securities and Exchange Commission. Actual results may differ significantly.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Actual results could differ materially
from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance
that the results referred to in the forward-looking statements contained in this release will occur.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Company Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Raj Jain</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Innodata Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">rjain@innodata.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(201) 371-8024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222"><B>or</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222"><B>Media
Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222">Stanley
or Andrew Berger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222">SM
Berger &amp; Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">(216) 464-6400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 22.5pt"><B>INNODATA INC. AND
SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>AND COMPREHENSIVE INCOME (LOSS)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>(In thousands, except per-share
amounts)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Three Months Ended</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B>Six Months Ended</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>June 30</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B>June 30</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Revenues</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">16,160</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,768</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,063</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">47,904</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Operating costs and expenses:</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Direct operating expenses</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,419</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,654</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">26,210</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,759</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Selling and administrative expenses</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,357</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,186</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,980</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,586</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest income, net</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(117</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(90</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(257</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(181</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">17,659</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,750</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">34,933</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">42,164</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Income (Loss) before provision for income taxes</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,499</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,018</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,870</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,740</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provision for (benefit from) income taxes</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,013</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">365</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,488</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,273</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net income (loss)</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(486</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,653</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(382</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,467</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Loss attributable to non-controlling interests</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">365</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">435</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">578</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,053</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net income (loss) attributable to Innodata Inc. and Subsidiaries</B></FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(121</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,088</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">196</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,520</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Income (Loss) per share attributable to Innodata Inc. and Subsidiaries:</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.00</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.08</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.01</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.22</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Diluted</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.00</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.08</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.01</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.21</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Weighted average shares outstanding:</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,940</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">25,085</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,938</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,771</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Diluted</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,940</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">26,862</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,938</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">26,459</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Other Comprehensive income (loss)</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net income (loss) attributable to Innodata Inc. and Subsidiaries</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(121</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,088</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">196</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,520</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pension liability (loss) adjustment, net of taxes</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">18</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">9</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">17</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unrealized gain from derivatives, net of taxes</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,221</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">68</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,230</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">761</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Comprehensive income (loss) attributable to Innodata Inc. and Subsidiaries</B></FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,324</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,165</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(998</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,298</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INNODATA INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CONDENSED CONSOLIDATED BALANCE
SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Dollars
in thousands)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-align: center"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>June 30,</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>December 31,</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ASSETS</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Current assets:</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash and cash equivalents</FONT></TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,379</FONT></TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">25,425</FONT></TD>
    <TD STYLE="width: 1%; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Short term investments &ndash; other</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,773</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,091</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts receivable, net</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,898</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,317</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepaid expenses and other current assets</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,094</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,561</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred income taxes</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,514</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,104</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">41,658</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">46,498</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Property and equipment, net</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,069</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,656</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other assets</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,292</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,504</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred income taxes</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,156</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,848</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Goodwill</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">675</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">675</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets</B></FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">64,850</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">66,181</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Current liabilities:</B></FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts payable and accrued expenses</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,538</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,100</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued salaries, wages and related benefits</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,263</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,584</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income and other taxes</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,720</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,155</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current portion of long term obligations</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">538</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">818</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred income taxes</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">57</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,059</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,714</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred income taxes</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">190</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">182</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Long term obligations</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,677</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,374</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Non-controlling interests</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,791</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,598</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>STOCKHOLDERS&rsquo; EQUITY<FONT STYLE="color: black">:</FONT></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">49,715</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50,509</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders&rsquo; equity</B></FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">64,850</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-family: Courier New, Courier, Monospace; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">66,181</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
